Track market-moving stories before they get noisy

TASS-RU: Gref does not recommend considering Bitcoin as part of a strategic investment portfolio

Bitwise CEO Hunter Horsley argued that the long-running downturn in the cryptocurrency market has come to an end. Horsley predicted that Bitcoin (BTC) could reach a new all-time high in 2027.

In an interview with CNBC, Horsley assessed the current state of the cryptocurrency market, noting that many investors who wanted to sell during the decline that has continued since the end of last year have left the market.

According to Horsley, the fact that a significant portion of the selling pressure is behind us can be considered a positive development for the price performance of crypto assets in the coming period.

Bitwise CEO also noted the expanding participation of institutional investors in the cryptocurrency market. Horsley stated that the increase in usage rates and revenues on some crypto platforms indicates continued growth in the sector’s core activities.

Horsley noted that access to the cryptocurrency market has improved compared to previous periods, and said that exchange-traded funds (ETFs) and exchange-traded products (ETPs) play a significant role for investors.

Horsley emphasized that the increasing popularity of these investment instruments has made it easier for investors in traditional financial markets to access crypto assets, and he considered increased institutional participation as one of the key factors for the sector’s development.

Horsley’s statements revealed his expectations that a new bull run could begin in the cryptocurrency market.

The CEO of Bitwise stated that Bitcoin could hit a new price record next year, but did not share a specific price target for this prediction to come true.

Horsley’s assessment is based on factors such as reduced selling pressure, expanded institutional participation, and improved access to investment products. However, Bitcoin’s future price movements remain dependent on market conditions.

*This is not investment advice.

Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!

Whale Sells 257,928 $HYPE for $23M Profit After 26x Return in 2 Years

A whale who bought 257,928 $HYPE($902K at the time) at only $3.5 ~2 years ago is selling $HYPE for profit. Over the past week, he deposited 131,421 $HYPE ($11.77M) into #Kraken at $89.56 and still holds 140,506 $HYPE ($12.2M). Total profit: over $23M, with a 26x return.

13 minutes ago

Ghostty's developer's new terminal Rex runs 10,000 sessions simultaneously, using only 3.8GB of memory.

Beating AI Express News: Ghostty creator Mitchell Hashimoto has announced scalability tests for his new terminal, Rex. Designed for long-lived sessions and remote connections, Rex allows terminal tasks to run continuously in the background. During the test, Rex maintained 10,000 active terminal sessions simultaneously, consuming approximately 3.8GB of memory while remaining responsive. The team has paused further scaling for now, with the next target being 100,000 sessions. At the 10,000-session mark, much of the overhead no longer stemmed from the terminal itself. The first bottleneck came from Linux’s file descriptor table, the system’s record of files and connections opened by processes. After terminal sessions exceeded around 5,000, each new process added roughly 512KB of overhead for this table alone, even though only about 4 file descriptors were actually used. Rex has since added a segment of C code to shrink this allocated space to the actual required size. Another issue was threads: Previously, Rex assigned one thread per active terminal session to wait for data, leading to excessive memory overhead at scale. Now, if a terminal has no read activity for 2 consecutive seconds, it is handed over to a shared thread for unified monitoring.

13 minutes ago

Xie Jiayin: Peer Program Plans to Cumulatively Cover Over 2.2 Million People, Distribute $3.49 Million in Rewards

Crypto exchange Bitget held an offline event today to mark its 8th anniversary. Xie Jiayin, head of Bitget’s Greater China region, while reviewing the platform’s eight-year development journey, stated that Bitget has evolved from a single cryptocurrency trading platform into a panoramic exchange (UEX) covering diverse scenarios including stocks, commodities, and AI trading. As of the second quarter, non-crypto asset trading volume accounts for 40% of the platform’s total, with roughly one in four new users starting their Bitget journey via rToken. Looking ahead, Xie noted that Bitget will continue advancing its UEX strategy, expanding into more diverse assets and trading scenarios, and enhancing institutional-grade custody and over-the-counter (OTC) settlement infrastructure. The platform will leverage varied custody and settlement models to meet the distinct needs of different types of institutions, with institutional services remaining a key strategic focus for Bitget in the next phase. During the event, Bitget also disclosed progress on the third batch of rewards under its "Peer Program": total distributed rewards have reached $3,495,658, benefiting 2,277,318 users. Xie added that the platform aims to put "user first" into practice through product development, service upgrades, and user-centric initiatives.

13 minutes ago

SemiAnalysis: ByteDance accounts for nearly one-fifth of China's data center capacity, almost entirely relying on leasing.

Dongcha Beating AI News Flash: Semiconductor research firm SemiAnalysis has released a survey on China’s data centers, tracking over 1,000 facilities from more than 60 operators. The report estimates that by the end of 2026, China’s data center capacity will exceed 24GW, ranking second globally behind the U.S.’s 56GW. ByteDance alone accounts for roughly one-fifth, making it China’s largest data center tenant. ByteDance has leased over 4GW of data center capacity, with suppliers including ChinaNetCenter, China United Network Data, and 21Vianet. The report notes that as of early 2026, ByteDance still contributes around 90% of ChinaNetCenter’s revenue. ByteDance has also accelerated self-built data center projects, constructing large facilities in Shanxi, Anhui, and Inner Mongolia to reduce reliance on external suppliers. While China’s data centers have long been viewed as having high vacancy rates, AI server rooms remain in tight supply. This is because many old data centers lack sufficient power and cooling capacity, making it difficult to directly deploy high-power AI servers. Newly built large AI data centers are being leased up rapidly. Taking a 100MW data center as an example, excluding IT equipment such as servers, China’s construction cost is approximately $300 million, compared to $1.5 billion in the U.S. Facilities of the same scale in China are typically delivered in around 12 months. Compared to the U.S., which faces power supply and approval hurdles, the more prominent bottleneck for expanding AI data centers in China is the supply of advanced chips.

13 minutes ago

Circle partners with SAP-backed Tereina to integrate USDC and EURC into SAP’s enterprise payment software.

Circle has partnered with Tereina, a financial services firm backed by SAP, to integrate USDC and EURC stablecoins into SAP’s enterprise payment software ecosystem. The integration will kick off with SAP Cloud ERP and be made available to eligible enterprise customers via SAP Pay. The collaboration aims to enable businesses to send and receive stablecoins within their existing SAP business applications and payment workflows without switching to a separate crypto asset system. USDC will be primarily used for USD-denominated payment scenarios, while EURC is intended for euro-denominated operations. Circle and Tereina plan to launch a customer validation project in the coming months, testing stablecoin payment functions for use cases including global payments and corporate treasury management.

13 minutes ago

Liquidated 33 Times, $37.64M Lost: AguilaTrades Returns with 40x Long on 200 $BTC

AguilaTrades(@AguilaTrades), who has been liquidated 33 times and lost a total of $37.64M, is back after more than 6 months of inactivity. He deposited 499K $USDC into #Hyperliquid and opened a 40x long on 200 $BTC($16.58M). Liquidation price: $81,466.75

13 minutes ago

Two Crypto CEOs Call the End of Winter, One Says It Happened a While Back

Bitcoin, Ethereum and XRP have flashed four-hour TD Sequential buy signals after sharp price declines, giving traders a possible early rebound setup as all three assets remain under selling pressure.

Summary

Bitcoin’s four-hour TD Sequential flashed a buy signal after falling 5.55% from October 5 highs. Ethereum’s four-hour buy signal appeared after ETH dropped 7.36%, with $2,620 and $2,650 recovery targets. XRP flashed the same signal after sliding from $1.53 to $1.39, according to Ali Charts. Glassnode sees Bitcoin support near $81,000, while thin volume still limits confidence in any rebound. Federal Reserve minutes show most officials still considered another interest-rate increase appropriate before year end. Ali Charts reported the Bitcoin signal on Oct. 8 after BTC fell 5.55% from $86,976 on Oct. 5 to a low near $82,150. The analyst said the reading suggested the pullback “may be nearing an end,” while stressing that the next four-hour candles still need buyers to confirm the setup.

BUY SIGNAL ON BITCOIN, ETHEREUM, AND XRP

1/5 🧵👇

— Ali Charts (@alicharts) October 8, 2026 Current market data has not yet confirmed a reversal. CoinGecko showed Bitcoin trading around $82,837 at the latest check, down roughly 1.5% over 24 hours, with a daily range between approximately $82,318 and $83,994. Twenty-four-hour trading volume stood near $36.2 billion.

Bitcoin buy signal appears near a key support area Bitcoin’s signal has appeared close to a price zone already identified by on-chain analysts as important support. Glassnode’s Oct. 7 market report placed the nearest large liquidation cluster between roughly $81,700 and $83,300, while the largest block of spot bids on Binance sat around $81,000 to $81,250.

Glassnode found a less convincing picture behind Bitcoin’s earlier climb above $85,000. Combined spot exchange and U.S. spot ETF volume averaged approximately $6.8 billion per day over seven days, a level lower than roughly 90% of trading days since January 2024. The research firm said the move above $85,000 came without a normal increase in spot activity.

Selling pressure appeared when the earlier rally reached higher levels. Glassnode found that roughly 86% of Bitcoin sent to exchanges on Oct. 4 came from short-term holders moving coins at a profit, the highest share recorded over the previous year. Sellers then placed another large group of asks near $86,500 to $86,750 after BTC briefly broke above $85,000.

Options positioning is more constructive. Glassnode reported approximately 0.56 puts for every call in open interest, while traders were spending an average of roughly $17 million more per day on calls than puts over a 30-day period. The firm cautioned that the historical record does not give the setup a clear direction.

A separate on-chain reading offers another possible support factor. Santiment reported that 24,073 BTC left exchanges on net on Oct. 5, the largest one-day outflow since March 1. Exchange balances fell to approximately 6.5% of Bitcoin’s total supply. Santiment described falling exchange supply as supportive when demand holds, but exchange withdrawals do not prove that buyers will immediately push prices higher.

🚨 BTC Exchange Supply Shrinks as 7-Month High Net of 24K Coins Leave Exchanges

🏦 Bitcoin just recorded its largest net exchange outflow in seven months. On Monday, 24,073 BTC left exchanges on net, the biggest single-day exodus since March 1st. Exchange supply has fallen to… pic.twitter.com/SknzMfKVZ9

— Santiment Intelligence (@SantimentData) October 6, 2026 As crypto.news previously reported in its October Bitcoin outlook, analysts had already identified the $82,000 area as an important level for BTC. The latest decline has brought price back into that zone.

Ethereum buy signal forms after a 7% drop Ethereum has printed a similar four-hour setup after falling 7.36% from $2,738 to around $2,537, according to Ali Charts. His ETH analysis identified $2,620 and $2,650 as possible recovery levels if buyers confirm the signal.

CoinGecko showed ETH at approximately $2,558 at the latest check, down close to 2% over 24 hours. The token traded between roughly $2,543 and $2,613 during the period, while 24-hour trading volume stood near $15.5 billion. Ethereum’s market capitalization remained close to $312 billion.

The $2,500 area has already attracted attention from traders following the recent breakdown. As crypto.news reported in its latest Ethereum price analysis, ETH fell below $2,600 after breaking its recent range, leaving the $2,500 to $2,560 area as an important support zone.

Derivatives positioning remains crowded. Daan Crypto Trades said open interest increased sharply after ETH’s decline while funding turned negative and spot selling remained strong. He described the positioning as a mixture of traders buying the dip and shorts following the downside move.

$ETH Crazy amount of Open interest piling in after the move.

Funding turned negative but spot selling also pretty rampant at the same time. Mixture of longs longing the dip and shorts piling onto the downside momentum.

Price unchanged for the past few hours so one side is bound… pic.twitter.com/DmgBlFrbl0

— Daan Crypto Trades (@DaanCrypto) October 7, 2026 The analyst said bears remained in control after ETH broke below its previous two-to-three-week range. His view was conditional because a rise in open interest can increase the size of a later move in either direction when heavily leveraged positions begin closing.

Ali’s recovery targets sit just above the current market. A move from approximately $2,558 to $2,620 would require a gain of around 2.4%, while $2,650 would place ETH roughly 3.6% above the latest CoinGecko price. Neither target has been confirmed.

Source: Ali/X XRP buy signal appears around $1.40 support XRP has flashed the third TD Sequential buy signal after falling from approximately $1.53 to $1.39. Ali Charts said an earlier TD Sequential sell reading appeared close to XRP’s recent local high, while the new signal raises the possibility of a local low.

Current price data keeps XRP close to that potential bottom area. CoinGecko showed XRP trading at approximately $1.41, down about 4.6% over 24 hours, with a daily range between $1.40 and $1.46. Trading volume stood near $2.50 billion, while perpetual futures open interest was approximately $4.64 billion.

Other technical views remain cautious. EGRAG Crypto has identified $1.41 and $1.37 as possible retest levels, with a deeper downside zone between $1.32 and $1.27 if selling continues. His setup requires buyers to reclaim the $1.55 to $1.60 region before the short-term bearish view changes.

As crypto.news reported in its XRP support analysis, the $1.40 area was already being watched after XRP moved lower despite $3.14 million of net inflows into U.S. spot XRP ETFs on Oct. 6.

The ETF flows provide one source of demand, but the latest price action shows they have not prevented short-term selling. XRP remains close to the lower edge of its current 24-hour range, leaving Ali’s four-hour signal unconfirmed at the latest price check.

What would confirm a Bitcoin, Ethereum and XRP rebound? The TD Sequential readings identify possible exhaustion after a sequence of price moves. They do not by themselves confirm a bottom, and Ali Charts said the next several four-hour candles need to show buyers returning before the signals gain confirmation.

Bitcoin has the clearest nearby market levels from Glassnode’s data. Support is concentrated from roughly $81,700 to $83,300, with major Binance bids near $81,000. On the upside, Glassnode said a settled close back above $85,500 would recover the level lost earlier this week. Another concentration of potential short liquidations sits between $87,100 and $95,900, with the largest area near $92,000.

For ETH, Ali is watching $2,620 and $2,650 if the four-hour setup receives confirmation. XRP remains close to the $1.40 zone, while EGRAG’s analysis keeps $1.37 and $1.32 to $1.27 in view if buyers fail to hold current levels.

Macro conditions remain another variable. Minutes from the Federal Reserve’s Sept. 15–16 meeting showed that most participants considered another rate increase likely appropriate by year end, though officials said future decisions would depend on incoming data. The Fed had already raised its target range by 25 basis points to 3.75%–4% at that meeting.

Crypto.news reported in its Oct. 7 market selloff coverage that BTC, ETH, XRP and SOL had all fallen sharply as leveraged long positions were forced out, with CoinGlass figures showing hundreds of millions of dollars in liquidations.

The next scheduled U.S. inflation test is the September CPI release on Oct. 14, while the Federal Reserve’s next policy meeting is set for Oct. 27–28.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

New Generation of Crypto Miners Released by ASICID

$71.6 million worth of Bitcoin and $31.6 million worth of BNB were transferred from wallets linked to the US government. It has not been confirmed that these transactions were for sale purposes.

U.S. government-linked wallets tracked by blockchain analytics company Arkham have processed Bitcoin and BNB transfers totaling over $100 million. These transactions have fueled speculation that the assets may have been sold, although no sales have been confirmed.

According to the data, a total of 833,599 BTC from government-linked wallets was initially sent to two addresses not labeled by Arkham. At the time of the transfer, the Bitcoins were worth approximately $71.6 million. These addresses then transferred the BTC to wallets labeled as Coinbase Prime deposit addresses within a few hours.

Of the Bitcoins seized, 568.7 BTC comes from assets confiscated in the Potapenko and Turogin case. The remaining approximately 264.9 BTC is from seizures related to the Bitfinex attack.

40,285 BNB were transferred from a separate government wallet. The tokens, worth approximately $31.63 million, were first moved to an unlabeled address and then to a second unknown wallet. The BNBs were reportedly among the assets seized from Alameda Research.

Sending cryptocurrencies to a Coinbase Prime address can, in some cases, indicate preparation for sale. However, exchange-linked addresses can also be used for custody, wallet management, or inter-institutional transfers. Blockchain data alone does not prove that the asset has ultimately been sold.

The US government reportedly holds approximately $27.5 billion in seized cryptocurrency assets. These assets originated from legal seizures, not from market purchases funded by tax revenue.

The Bitcoins transferred to the government under the decree dated March 2025 are intended to be held in the Strategic Bitcoin Reserve. However, the legal status and sales authorization of assets in specific cases may vary. It would be incorrect to interpret the transfer as a definitive sale before an official announcement.

*This is not investment advice.

Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!

Bitcoin Halving Clock Hits 62%: Is the Bear Market Over?

At 01:00 UTC on October 8, 2026, Sui announced an October mainnet rollout for Hashi, its native Bitcoin collateral system, with more than $500 million in capital commitments. The coalition supplying those commitments has more than 20 partners, and Anchorage Digital joined as a launch partner.

Hashi is intended to let holders use Bitcoin as collateral in Sui applications while the underlying asset remains on the Bitcoin network. The product page describes it as a decentralized Bitcoin collateralization primitive that orchestrates native $BTC from smart contracts without relying on a centralized balance sheet.

What goes live The rollout is due to begin during October and proceed in phases. Sui said Hashi will start with capital behind lending, borrowing, credit, vaults and structured products. Named vault providers include Aftermath, Concrete and Fluid.

The launch coalition also includes BitGo, Bullish, Cumberland, FalconX and Ledger. Sui said the group has been building around Hashi since the project was unveiled. The commitment is capital designated for the launch, not a measure of deposits already live on mainnet. That distinction matters because the announcement does not state how much capital each provider committed, how quickly it will enter individual vaults or what portion will be available to borrowers on the first day.

Hashi separates Bitcoin custody from the lending logic running on Sui. A user sends native $BTC to a unique Hashi deposit address on the Bitcoin network. Each Sui address receives a personalized 2-of-2 multisignature address. Sui validators monitor Bitcoin confirmations, reach quorum and mint an equivalent representation on Sui. The user can then set loan-to-value parameters, connect price oracles and seek stablecoin liquidity through Sui smart contracts. Repayment starts the withdrawal process back to a Bitcoin address.

The sequence gives users several checkpoints before depositing. The Bitcoin address belongs to the Hashi flow, but validators still have to observe the deposit and create the Sui-side representation before it can enter a loan. The loan then depends on a specific contract, oracle and venue. A completed repayment still requires the signing process to release native Bitcoin. Users should therefore check how a venue handles delayed confirmations, oracle outages, liquidations and withdrawals. The announcement gives the architecture, but it does not publish operating targets for those paths.

The personalized 2-of-2 address also does not make every Hashi market equivalent. Vault providers can offer different collateral ratios, assets and strategies even when they use the same base system. A depositor evaluating Aftermath, Concrete or Fluid needs the terms of that particular vault rather than the coalition’s aggregate capital commitment. A borrower needs the rate, liquidation threshold and available stablecoin liquidity for the same reason.

The system therefore exposes users to more than Bitcoin custody alone. Sui says Move contracts govern collateral parameters, loan-to-value ratios and liquidation logic. Price oracles update valuations, while collateral calls and liquidations execute under terms set by each venue. A borrower needs to examine those venue terms, the oracle design and the liquidation thresholds before treating the custody architecture as a complete risk assessment.

Anchorage adds two access routes Anchorage Digital plans to give institutional clients two ways into Hashi. The first uses Atlas, its settlement and tri-party collateral infrastructure. Sui positioned that route for organizations subject to qualified custody, compliance and operational requirements, including public companies with Bitcoin on their balance sheets and digital asset treasury companies that cannot directly use DeFi.

The second route uses Porto, Anchorage Digital’s institutional self-custody wallet. Sui said Porto users can access lending, yield and real-world asset strategies directly. The stated audience includes venture funds, hedge funds, miners, market makers and liquidity providers. Anchorage also plans to supply stablecoin liquidity to Hashi, though the announcement does not name the stablecoin, the amount or the date that liquidity will arrive. The timing and distribution of that supply are not stated.

These routes change the operational choice for institutions. An Atlas client can keep a tri-party collateral workflow rather than moving straight into a self-custody setup. A Porto client can interact directly but assumes the wallet, contract and venue-level controls attached to that route. Neither option removes the lending risks created by oracle updates, collateral ratios and automated liquidation.

How the collateral design works Sui describes two main trust assumptions: the Sui validator set and the smart contract governing the loan. Funds move when one-third of validators produce a valid threshold Schnorr signature. A guardian layer performs another check before Bitcoin is released, and Sui presents it as protection against validator collusion or a wider compromise.

The product page sets out four stages from deposit to withdrawal. Bitcoin first moves to the user’s Hashi-generated address. Validators then confirm the deposit and create the Sui-side representation. The user pledges that representation in a contract to obtain liquidity. Repayment permits release of native Bitcoin through the signing process.

Sui says returns are meant to come from interest spreads instead of token incentives. The available applications may include stablecoin borrowing, on-chain credit, automated vaults, structured products, real-world assets and Bitcoin-backed bonds. The announcement does not provide launch rates, maximum loan-to-value ratios, liquidation penalties or insurance terms. Those values will determine whether the initial products compensate depositors for contract, oracle, custody and liquidation risk.

Hashi remains labeled as testnet on Sui’s product page at the time of the announcement. The next stated milestone is the phased mainnet rollout by the end of October. The unresolved point is how much of the committed capital becomes usable liquidity at launch, and under which vault and liquidation parameters.

Europol, the law enforcement agency of the European Union, released a report on Wednesday stating that quantum computers are not expected to break blockchain networks in the foreseeable future. However, the agency warned that Bitcoin wallets with exposed public keys face significant risks as quantum technology advances.

Quantum risk targets public key walletsThe European Cybercrime Center, a division under Europol specializing in cyber threats, highlighted that wallets whose public keys are publicly visible on blockchains are “the primary point of exposure to quantum threats.” Wallets sign transactions using private keys, while the network verifies them through public keys. In theory, a powerful enough quantum computer could use an exposed public key to deduce the corresponding private key, enabling an attacker to spend those funds.

Europol emphasized that there is currently no cryptographic solution for users whose wallet public keys are already exposed. The report advised a “pre-emptive migration,” meaning users should transfer their assets to new wallets that have not yet revealed their public keys to the blockchain.

Any wallet with an exposed public key may need to move its funds before practical quantum attacks become possible. The best defense is proactive migration to more secure wallets before new attack vectors appear.

As of May 2024, an estimated 6.04 million BTC, or about 30.2% of the circulating supply, are held in addresses with public keys already revealed on-chain. Another estimate cited in the report places this figure closer to 6.9 million BTC, accounting for early public-key-based outputs and long-dormant coins from the earliest years of Bitcoin.

Opinions within the Bitcoin community differ over whether to implement measures that would freeze coins associated with Satoshi-era wallets, some of which have remained untouched for years.

Hash functions prove resilient, post-quantum updates underwayEuropol’s analysis found that the cryptographic hash functions binding blockchain blocks together and protecting mining activity are not vulnerable to quantum attacks under current technology. According to the report, a quantum computer would need approximately 2^128 quantum operations to break a 256-bit hash function, a level of effort described as “astronomically high with foreseeable technology.”

Despite these reassurances for blockchains themselves, the report stated that adaptation, rather than collapse, is the likely outcome for cryptocurrency systems. Europol concluded that, “cryptocurrencies will not collapse due to quantum computing,” but users and networks must proactively upgrade to post-quantum security standards as a precaution.

Switching to post-quantum infrastructure presents challengesEuropol cited research from 2024, indicating that migrating all Bitcoin wallets with exposed public keys to quantum-resistant formats could take a combined downtime of at least 76 days. If only 25% of each block’s capacity is used for this migration, the process could be extended by another 300 days.

Migration ApproachEstimated DurationFull migration at maximum capacity76 daysMigration using 25% of each block~376 daysAdoption of post-quantum signatures, such as those being standardized by the US National Institute of Standards and Technology (NIST), faces technical hurdles. These new signatures are 10 to 120 times larger than the elliptic curve signatures currently used by Bitcoin, creating potential challenges for network capacity, transaction fees, and confirmation speeds.

Mini dictionary: NIST (National Institute of Standards and Technology) is a US federal agency responsible for developing technology, metrics, and standards, including the standardization of post-quantum cryptographic algorithms.

Additional research, including a report jointly produced with the University Carlos III of Madrid, explored the concept of “Harvest Now, Decrypt Later,” where attackers collect encrypted data today with plans to decrypt it using future quantum computers. Europol noted it has not found substantial evidence that this method poses a significant threat at present. However, information with long-term value is considered the most likely target for such schemes.

Responses from regulators and the crypto industryThe European Commission has reportedly encouraged member states to migrate critical systems to post-quantum security by the end of 2026 for standard applications, and before 2030 for high-risk setups.

The foundational post-quantum infrastructure for Ethereum is targeting a rollout by 2029. Meanwhile, Bitcoin developers are examining a possible soft fork proposal known as BIP-360 to enhance security against quantum threats.

A separate report referenced an experiment by more than 100 researchers who used AI to reduce the resource requirement for a quantum attack on Bitcoin by 86.1%. The type of quantum computer capable of carrying out such an attack does not yet exist, and Europol gave no indication as to when one might become practical.

The COIN stock price hovered at $178.37 after falling 3.97% during October 7 trading. The 2:30 p.m. EDT reading showed Coinbase Global under pressure, with the session still open.

The decline accompanied a broader cryptocurrency retreat as investors confronted rising Treasury yields, expensive oil, and a stronger dollar.

Fed Minutes Signal Another Rate Hike as Inflation Risks Rise Minutes released October 7 showed most officials considered another interest rate increase appropriate before year-end. All 19 participants supported September’s 25 basis point increase, which lifted the federal funds target to 3.75%–4.00%.

BREAKING: September Fed Meeting Minutes show that most Fed officials expect another interest rate hike by year-end.

All 19 Fed officials backed the September interest rate hike.

Almost all Fed officials see inflation risks tilted upward, with some warning AI could push demand above supply and increase inflation.

— The Kobeissi Letter (@KobeissiLetter) October 7, 2026

Officials differed over whether September’s increase was precautionary or more restrictive. The disagreement highlighted uncertainty over how much additional tightening was needed. September forecasts showed 16 of 18 participants anticipated at least one further increase during 2026. 

Recent futures pricing placed October hike odds below 20%, while investors continued assessing the possibility of a December increase. The minutes offered no firm timetable, leaving the timing of further action unresolved. 

Crypto Selloff Weighs on COIN Stock as Bitcoin Falls Below $83K Total cryptocurrency capitalization declined 3.09% over 24 hours to $2.83 trillion, reflecting widespread losses across major digital assets. Bitcoin price traded below $83,000, Ethereum lost about 5%, and XRP price hovered below $1.42.

Coinbase weakened alongside other cryptocurrency equities as these declines reduced confidence across the sector. The synchronized retreat suggested macroeconomic pressures were affecting digital assets and related shares simultaneously. 

The 30-year Treasury yield reached its highest level since 2002 during Wednesday’s bond selloff. The bond selloff was already underway before the minutes appeared, adding pressure across markets throughout the trading day. 

Higher yields raised the appeal of interest-bearing assets, while rising oil increased concerns about persistent inflation. A stronger dollar added pressure as investors reduced exposure to speculative investments during the session. 

Will COIN Stock Reclaim $180 or Slide Toward $175? The intraday trading pattern is that the first resistance will be around the level of $180, where the previous trading developed a consolidation zone. Any sustained recovery above this point might move the focus to the midday peak of around $180 for the Coinbase stock.

The clearing of such peak would reinforce the rebound argument and bring the previous trading area of $182.50 back in perspective. 

COIN Stock Several lows define the short-term support between $177.50 and $178, and this area is at the center of the short-term perspective. 

The intraday structure would be undermined by a sustained decline below the support, which would enhance the chances of additional losses for COIN stock. The second estimated downside area is at $175, a round-figure target that lies out of the visible trading range.

Bitcoin Struggles to Break Higher as ETF Demand Weakens: Bitfinex Alpha

Robinhood has added $25 million worth of Bitcoin (BTC) to its corporate balance sheet. The trading platform framed the purchase as a statement of commitment to crypto, not a bet on returns.

Less than a year ago, however, Robinhood’s incoming finance chief publicly doubted that holding Bitcoin was a sensible use of company cash.

What Changed Behind the Robinhood Bitcoin Buy?Johann Kerbrat, Robinhood’s senior vice president and general manager of crypto and international, disclosed the purchase on Wednesday. He spoke during a livestreamed interview broadcast on X.

In November 2025, Shiv Verma, then Robinhood’s incoming chief financial officer (CFO), weighed the same idea. Verma also named alignment with the crypto community as a benefit, but raised a sharper question.

“Is it the best use of our capital? There’s a lot of different things you’re doing, you know, from new products, for growth, investing in engineering.”

Verma, who has since stepped into the CFO role, said at the time that the company would keep reviewing the pros and cons.

How Much Does $25 Million Mean for a $100 Billion Company?Kerbrat acknowledged the stake is small. He said it would do little to change the trajectory of a company valued near $100 billion.

At Bitcoin’s current price of $85,582, the purchase equals roughly 292 BTC. Robinhood has not disclosed the exact number of coins.

The stake also represents about 0.025% of Robinhood’s market value.

By comparison, Strategy spent $28.7 million on 334 BTC between October 1 and 4, according to its filing. That purchase lifted its holdings to 848,000 BTC.

Meanwhile, Robinhood’s own crypto business has cooled. Cryptocurrency revenue fell 38% year-over-year to $100 million in the second quarter, according to company results.

Total revenue, in contrast, rose 32% to a record $1.31 billion.

Robinhood (HOOD) shares closed Tuesday at $112, down 1.85%. The stock extended losses in Wednesday’s pre-market session, according to TipRanks.

Is Bitcoin Only One Piece of a Wider Crypto Bet?The Bitcoin purchase sits alongside a broader on-chain expansion. Robinhood Chain, the company’s layer-2 network built on Arbitrum technology, launched its public mainnet on July 1.

The network now holds $1.047 billion in total value locked (TVL), according to DefiLlama. TVL measures the assets deposited in a network’s applications.

Robinhood Chain total value locked since its July mainnet launch / Source: DefiLlamaThe chain crossed $1 billion roughly 80 days after launch. Growth has since slowed, with TVL holding between $1 billion and $1.05 billion since late September.

Robinhood also plans perpetual futures for eligible US customers, with up to 10x leverage on BTC and ETH. The company unveiled them last week alongside its in-app AI agents.

Unlike treasury firms that issue stock to keep stacking coins, Robinhood is spending a token sum to signal loyalty. Its next quarterly filing should confirm the exact holdings and show whether further purchases follow.

Right now, what Bitcoin needs is a catalyst to keep HODL sentiment intact.

As AMBCrypto recently reported, Bitcoin was trading near $86,200, putting whales at roughly 39% unrealized profit and sharks at nearly 28% based on their respective cost basis. With BTC now down to $83k, the risk of profit-taking and a new wave of selling pressure is clearly back.

In this situation, Bitcoin needs a fresh catalyst to give HOLDers a reason to stay put instead of locking profits.

This becomes even more important as Bitcoin’s latest Fear & Greed reading adds another layer to the setup. As the chart below shows, BTC closed the last session with the index at 73, reclaiming this level for the first time since the 1st of October.

However, the index has since eased to 71. While it is still in the Greed zone, the pullback could be an early sign of sentiment starting to cool.

Source: Alternative.me Taken together, the growing profit stack and the volatile Fear & Greed Index suggest that Bitcoin’s bullish setup is starting to look shaky. With whales and sharks sitting on sizable unrealized gains, a further shift in sentiment could lead to profit-taking and hence selling pressure.

Why are Bitcoin whales adding to holdings? Against that backdrop, Santiment reported continued accumulation among wallets holding between 10 and 10,000 BTC.

Source: Santiment These wallets added 86,702 BTC over three weeks, lifting their combined holdings to the highest level since the 23rd of April. The increase suggested that larger holders continued building exposure despite Bitcoin’s recent weakness.

However, accumulation alone could not establish how long they intended to hold. If those wallets later sold, their larger balances could increase the supply entering the market.

For now, that remained a conditional risk rather than evidence that accumulation itself had turned bearish. A fresh catalyst could strengthen holders’ willingness to maintain their Bitcoin exposure through the pullback.

China’s crypto pivot could test Bitcoin’s HODL strength Joseph Chee’s comments offered one potential narrative for investors to watch.

The former UBS Asia investment banking chief and Solana Company CEO discussed China potentially allowing greater crypto activity. He pointed to Hong Kong as a testing ground.

In his CNBC interview, Chee suggested that reopening access could trigger another crypto supercycle. His comments described a possibility, rather than an announced policy change.

Meanwhile, CryptoQuant data showed more than $3.3 billion worth of BTC leaving Binance over approximately two weeks. Weekly Outflows also reached their highest levels since 2023.

Source: CryptoQuant If this trend continues, China’s potential crypto pivot could give Bitcoin holders another reason to stay put.

The logic is straightforward: Whale accumulation and exchange outflows both point to the same thing: more BTC is moving into long-term hands. So, if the supercycle narrative continues to gain traction, the 39% and 28% unrealized profit levels could have even more room to expand, thus encouraging these investors to avoid selling into the current market weakness and HODL for bigger gains.

Thus, the recent dip in Bitcoin’s Fear and Greed Index could therefore be temporary, as on-chain signals continue to support HODLing through the current market FUD.

Final Summary Bitcoin sentiment is cooling, but whales and long-term holders are still accumulating. China’s crypto pivot could boost the supercycle narrative and encourage holders to keep HODLing.

TLDR Table of Contents

Wells Fargo stock falls 1.53% as Payward crypto liquidity talks gain focus. Payward could provide Wells Fargo with liquidity for digital asset trading services. Wells Fargo already offers spot Bitcoin ETFs to eligible wealth management clients. Payward is expanding bank partnerships through Kraken Prime trading infrastructure. A potential deal would deepen Wells Fargo’s push into digital asset services. Wells Fargo (WFC) stock closed at $80.26, falling 1.53%, before slipping another 0.10% after hours. The decline came as reports linked Wells Fargo with Payward, the parent company of crypto exchange Kraken. The reported discussions could expand Wells Fargo’s digital asset operations through external crypto trading infrastructure.

Wells Fargo & Company, WFC

Wells Fargo Explores Kraken Liquidity Partnership Payward is discussing a potential agreement to provide Wells Fargo with liquidity for digital asset trading. Under the proposed arrangement, Payward would help the bank access crypto markets and execute client transactions. However, the companies have not announced any final agreement regarding the reported discussions.

Crypto exchanges increasingly provide infrastructure that allows traditional banks to offer digital asset products without building trading systems internally. Payward already provides liquidity, custody, settlement, payments, and trading technology through its Payward Services division. Therefore, a Wells Fargo agreement would extend Payward’s role as an infrastructure provider for established financial institutions.

The discussions follow Wells Fargo’s broader expansion into digital assets and blockchain-based financial services. The bank already provides eligible wealth clients with access to spot Bitcoin exchange-traded funds. It has also supported crypto compliance company Elliptic and institutional trading technology provider Talos.

Payward Expands Relationships With Major Banks Payward has increased its focus on partnerships with banks, asset managers, fintech companies, and other financial institutions. In September, Payward partnered with SoFi to provide customers access to liquidity from Kraken Prime. The agreement also included continuous dollar settlement and supported the listing of SoFiUSD on Kraken.

Payward also entered discussions with BNY Mellon over a potential financial infrastructure partnership earlier this month. Those talks could include custody, trading, wealth management, crypto products, and payment services. The developments show Payward expanding beyond its traditional role as the operator of Kraken.

Wells Fargo already has a previous connection with Payward through Nasdaq’s investment in the crypto company. The bank advised Nasdaq during its $100 million investment agreement with Payward in September. That transaction valued Payward at $21 billion while expanding cooperation around tokenized equities and market surveillance.

Wells Fargo Builds Wider Digital Asset Presence Wells Fargo has continued developing its digital asset strategy across trading, payments, and blockchain-based banking services. Earlier this year, the bank strengthened its digital assets team by hiring former Citi banker Mark Gracia. The move added experience as Wells Fargo expanded its involvement with crypto-related financial infrastructure.

The bank has also outlined plans for blockchain-based deposits as financial institutions test faster settlement systems. Wells Fargo joined a banking consortium working on a dollar-backed stablecoin for institutional and commercial payment applications. These projects extend its blockchain strategy beyond investment products offered to wealth management clients.

Meanwhile, clearer federal rules have encouraged deeper connections between banks and established digital asset companies. The GENIUS Act created a federal regulatory framework for payment stablecoins after becoming law in July 2025. A Payward agreement would further connect Wells Fargo with crypto infrastructure as traditional finance expands its digital asset services.

8 minutes ago

Overnight to this morning, U.S. consumers’ one-year inflation expectations rose to 3.9%, hitting a more than three-year high, signaling improved labor market confidence. Separately, the minutes of the U.S. Federal Reserve’s September meeting were released, showing all 19 policymakers backed a September rate hike but cited varying rationales; most participants judged another rate increase before the end of the year could be appropriate. In related news, Axios reported that the U.S. Pentagon has ordered U.S. Central Command (CENTCOM) to complete preparations for resuming major military operations against Iran, though Trump has not made a final decision nor set a specific strike date. U.S. and Israeli officials said if the operation is relaunched, it could occur before the U.S. midterm elections on November 3, and even earlier than Israel’s general election on October 27. As a result, the three major U.S. stock indexes pulled back: the Nasdaq ended its five-session winning streak, the S&P 500 fell from record highs, and the Dow Jones Industrial Average dropped more than 1% at one point during trading. For individual stocks, data from BIT (bit.com) shows the semiconductor index and banking index both closed down more than 1%, while Micron rose 4.06% against the trend; Meta fell over 2%, and cybersecurity firm CrowdStrike dropped nearly 5%. Additionally, markets are monitoring the coordinated oil reserve release by multiple countries. Data from Bitget shows crude oil turned negative during trading: Brent crude, after rising 2% intraday, swung to a nearly 1% loss, while U.S. WTI crude settled at a new low in over a month. Gold retreated to a two-month low, dropping more than 2% intraday. In the crypto market, data from HTX shows Bitcoin fell below $83,000 overnight, then found brief support, and is currently trading at $83,234.80.

Scan the QR code

Download APP

You are now leaving Barron's websiteBy clicking on the “Proceed” button below, you will be redirected to a third-party website owned and operated by Hong Kong Tiimoot Information Technology Co., Limited. (“HKT”), which is located in Hong Kong. That website operates independently from Barron's and Barron's does not control the website. The privacy practices of HKT are subject to its Privacy Statement, so please read it closely. We are not responsible for HKT's privacy or other data-related practices.

Bitcoin broke below $84,000 support Wednesday as Treasury yields surged to 24-year highs.

Notable Statistics:

Coinglass data shows 124,815 traders were liquidated in the past 24 hours for $716.71 million.        SoSoValue data shows net inflows of $118.9 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net outflows of $201.9 million. In the past 24 hours, top gainers include Raydium, Bitway and Figure Heloc. Notable Developments:

XRP Plummets 4% to $1.43: What is Going On?Bitcoin Analyst Who Sold the Top Is Bearish Again: ‘I’m Building Shorts’Bitcoin’s Rally Ran on Thin Volume: Is a Cascade to $81,000 Next?Robinhood Joins Strategy, Tesla In Holding Bitcoin, Exec Says: ‘We Care Deeply About Bitcoin’Bitcoin Plunges to $83,500, ETH, XRP Lose Over 3%: What Is Going On?PENGU, DOGE, SHIB Plunge 7% as Pudgy Penguins’ Parent Exits BlockchainEric Trump Says Crypto Can ‘Declare Victory’ Over Banks: Is He Right?Tom Lee Says Bitmine Will ‘Stop’ Buying ETH—BMNR Falls 6%Trader Notes:

Heavily followed key opinion leader Scott Melker said in an interview with industry expert Noelle Acheson that a surging 10-year yield and oil above $100 act as major macro headwinds weighing on Bitcoin.

The bullish macro thesis is that worsening Treasury-market stress eventually forces liquidity intervention, which could become the next major catalyst for Bitcoin.

Image: Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

The US government has moved $470 million in Bitcoin and Tether from seized funds to Coinbase Prime, according to a post on X tracking the activity.

The appearance of Tether in the mix makes this move stand out. Earlier reported government transfers did not include USDT, even though government wallets hold significant amounts of the stablecoin.

A pattern of transfers to Coinbase Prime Coinbase Prime is the institutional platform that the US Marshals Service (USMS) selected in July 2024 to handle custody and trading of seized digital assets.

The Marshals Service is the agency responsible for managing assets forfeited in federal criminal cases.

On-chain data from Arkham Intelligence has tracked several earlier shipments. In mid-July 2026, approximately $288-297 million in seized assets landed on Coinbase Prime.

Advertisement

Most of that batch was Bitcoin: between 3,800 and 3,941 BTC, valued at $244-250 million at the time. Some of those wallets were tied to cases involving Ryan Farace and Brian Krewson.

On October 7, 2026, roughly 833.6 BTC, valued at $71.6 million, went to Coinbase Prime addresses. About 40,285 BNB, worth approximately $31.6 million, moved in the same window. Both were part of a larger $103 million asset shift.

The reserve that complicates the story In March 2025, President Trump signed an executive order creating a Strategic Bitcoin Reserve. The order set a no-sale policy for seized BTC.

That policy covers Bitcoin specifically. Tether is a stablecoin designed to hold a steady dollar value, so moving it raises different questions than moving Bitcoin does.

A transfer to a custodian is also not the same as a sale. Coins can be moved for consolidation, safekeeping, or administrative handling without ever hitting an order book.

Estimates put US government-held crypto between $20-28 billion, including around 324,000-325,000 BTC.

What this means for the market The Tether portion deserves particular attention. Selling or redeeming a dollar-pegged stablecoin would not create the kind of price pressure that dumping Bitcoin would, but it would signal that the government is actively managing parts of its crypto portfolio that sit outside the reserve’s no-sale protection.

For the Bitcoin portion, the key question is whether the reserve policy holds in practice. Any evidence of seized BTC actually being sold would raise questions about how firmly the no-sale policy is being applied.

As the Marshals Service’s chosen custodian since July 2024, Coinbase Prime sits at the center of one of the largest government crypto operations in the world.

Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.

In brief Wallets Arkham labels as belonging to the U.S. government moved about $103.2 million on Tuesday. Arkham ties the Bitcoin to forfeited HashFlare fraud funds and Bitfinex hack seizures, and the BNB to seized Alameda Research funds. No sale has been announced. Arkham research puts U.S. holdings at about 325,000 BTC, ahead of the U.K. at 61,245 BTC and El Salvador at 7,200 BTC. Cryptocurrency wallets controlled by the U.S. government moved more than $100 million in Bitcoin and BNB on Tuesday, according to data from blockchain analytics firm Arkham.

Some of it landed at Coinbase Prime, which market observers typically interpret as being deposited for sale. But the reason for the move, or if any sale is planned, is currently not confirmed.

Myriad: How high will Bitcoin go? Click to make your prediction.The Bitcoin part of the stash amounted to 833.6 BTC, worth about $71.6 million. It hopped through two unlabeled addresses before reaching deposit addresses Arkham tags as Coinbase Prime, the service Coinbase runs to trade and store crypto for big institutions.

Arkham ties about 568.7 BTC of that to forfeited funds from Sergei Potapenko and Ivan Turõgin. "Forfeited" means a court has signed off on the government keeping assets tied to a crime. The two Estonians ran HashFlare, a crypto-mining service that sold mining contracts without the computing power to back them.

Bitcoin transfers from government wallets. Image: ArkhamProsecutors say HashFlare took in more than $577 million in sales between 2015 and 2019. A federal court sentenced both men in August 2025 to the 16 months they had already served. The Justice Department said forfeited assets would be available to repay victims.

The other 264.9 BTC came from the Bitfinex hack. In 2016, hacker Ilya Lichtenstein stole 119,754 BTC from the exchange. In January 2025, the Justice Department argued that 94,643 BTC should go back to Bitfinex. The government kept moving funds from that wallet throughout the day until it was fully drained.

The rest of that $103 million in crypto was BNB, the token of the Binance exchange. The government moved 40,285 BNB, worth $31.63 million, to an unlabeled address, which later passed the full amount to another one. Arkham traces the coins to funds seized from Alameda Research, the trading firm tied to the collapsed FTX exchange.

A transfer, though, is not a sale. Coinbase Prime also acts as the government's custodian—basically a vault service—so a deposit can mean storage, as in a similar $288 million move in July. Only the government knows which one this is, and it hasn't said.

The U.S. government has sold plenty of seized Bitcoin before, but it’s been a while. When it sent 19,800 BTC from the Silk Road haul to Coinbase in December 2024, worth about $1.92 billion, Bitcoin slid more than 2% within 24 hours. Silk Road was an online black market the government shut down.

Bitcoin's price runs on supply and demand, and a government unloading a big pile at once can push it down for every holder. That is why traders watch these wallets.

But when it comes to crypto sales at the moment, the government's hands are partly tied. A March 2025 executive order created a Strategic Bitcoin Reserve, a stash of forfeited Bitcoin that "shall not be sold." Bitcoin counts only once it is finally forfeited, so coins tied to open criminal cases sit outside it.

BNB isn't Bitcoin, so it falls under a separate Digital Asset Stockpile. Treasury can release those assets only for things like repaying crime victims, law enforcement operations, or legal requirements. Treasury Secretary Scott Bessent has said forfeited Bitcoin is the foundation of the reserve.

Tuesday's coins are a sliver of the government’s total pile. Arkham's September research puts U.S. government holdings at about 325,000 BTC, worth roughly $27 billion, or about 1.6% of Bitcoin's supply. That makes Washington the largest government holder in Arkham's ranking, ahead of the U.K. at 61,245 BTC and El Salvador at 7,200 BTC.

Almost all of the U.K.'s stash came from a fraud that hit more than 120,000 Chinese pensioners, while El Salvador got its Bitcoin through direct purchases and mining.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

At 14:35 UTC on October 7, 2026, Babylon announced that HashKey Cloud would integrate its Trustless Bitcoin Vaults, or TBV, for institutional clients using Aave v4. The companies have not set a public launch date. Their joint announcement says further timing and partnership details will arrive in the coming months.

The planned service would let a HashKey client borrow against Bitcoin that remains on the Bitcoin network. Babylon says the design avoids wrapping the asset, sending it through a bridge or placing it with a centralized intermediary. Aave v4 supplies the lending market, while HashKey Cloud provides the institutional access and operational role described by the partners.

HashKey clients would be able to borrow stablecoins and other supported assets against that collateral. The announcement also says clients could deploy borrowed stablecoins into yield strategies. It does not name the strategies, borrowing limits, collateral parameters, fees or jurisdictions that HashKey will support.

How the collateral path works Babylon’s technical overview describes a five-stage process. A depositor first locks native Bitcoin in a dedicated unspent transaction output on the Bitcoin network. Participants construct and pre-sign a transaction graph while the deposit receives confirmations. That graph fixes the permitted paths by which the Bitcoin can later be spent.

After setup, a self-custodial BTCVault is activated on Ethereum. Aave v4 can then recognize the locked Bitcoin as collateral. The borrower takes a supported asset from Aave at a market-based variable rate. Babylon’s product page lists $USDC, $USDT and $WBTC as examples of assets that may be borrowed, though the HashKey announcement does not say which assets its service will expose.

Closing the position requires repayment of the outstanding debt and accrued interest before the user requests a withdrawal. The same overview says a position is liquidated only after it falls below the liquidation threshold and that partial liquidation is supported. The HashKey release does not provide the threshold or other market parameters, so clients cannot yet calculate a position’s liquidation buffer from the announcement.

A withdrawal then enters a challenge process on Bitcoin. If no valid challenge is raised, the Bitcoin returns to the address nominated by the user. Babylon says an Ethereum event authorizes redemption, a zero-knowledge proof demonstrates that the event occurred, and the challenge mechanism determines whether the claim may proceed. The process is designed to avoid approval from a custodian, wrapped-asset issuer or signer committee.

This architecture separates the location of the collateral from the location of the loan. The Bitcoin remains locked in a Bitcoin UTXO, while Ethereum and Aave account for the collateral and debt position. It also means the borrower depends on the vault transaction graph, proof system, oracle and Aave market operating as intended.

What changes for HashKey clients HashKey Cloud already provides staking and yield infrastructure under HashKey Holding Limited. The company says it has provided node validation services since 2018 across public chains and Layer 2 networks. The integration adds a proposed borrowing route to that institutional infrastructure.

Fisher Yu, a Babylon co-founder, said HashKey Cloud would take a “core operational role in TBV” and bring native Bitcoin credit to institutional clients in Asia. He also said the self-custodial design lets regulated institutions retain title to their Bitcoin while using it as collateral. Leo Li, CEO of HashKey OnChain, described the goal as turning native Bitcoin into an asset that can be borrowed against and then deploying the proceeds.

For a client, the practical change is the ability to seek stablecoin liquidity without first selling Bitcoin or converting it into a wrapped representation. That removes an issuer and redemption process from the route. It does not remove lending risk. Babylon’s own disclosure says users remain exposed to smart-contract and implementation risk, price-oracle risk, and the risk profile of the lending application they choose.

The cost is also not limited to Aave’s variable borrowing rate. Babylon says users may pay protocol, Vault Provider and network fees. Its product page displays estimated native Bitcoin borrowing rates between 3% and 5%, alongside estimates between 0% and 5% for on-chain borrowing and between 9% and 16% for centralized borrowing. The page warns that rates and fees are variable and may change. Those ranges are product-page estimates, not terms promised to HashKey clients.

The integration is not live yet Native Bitcoin-backed borrowing through TBV is available on a public Aave v4 testnet with test assets. The HashKey announcement describes a future integration and gives no production deployment date. It also leaves open which entity will act as Vault Provider, how HashKey will handle access controls, which Aave market will hold the debt, and what collateral and liquidation settings will apply.

Those missing terms matter to institutions comparing this route with custody-based loans or wrapped Bitcoin in existing lending markets. Self-custody changes one category of counterparty exposure, but the position still depends on code, proofs, market liquidity, oracle inputs and liquidation execution. Borrowers also need the complete fee schedule to compare the advertised structure with another loan.

A prospective borrower will need several parameters before using the service: the supported debt assets, the variable rate for each asset, the liquidation threshold, oracle design, Vault Provider fees and network costs. The published flow also makes repayment operationally important because a full withdrawal requires the outstanding debt and accrued interest to be repaid. If collateral crosses the liquidation threshold first, the system supports a partial liquidation instead.

The next stated milestone is the release of integration timing and partnership details in the coming months. Until then, the verifiable state is a planned HashKey service built around a live public testnet, not a production borrowing market for HashKey clients.

Bitcoin, Ethereum, XRP, and Solana have fallen between 4.3% and 6.3% over the past 24 hours on Oct. 7, as the broader crypto market cap dropped 3.8% to $2.925 trillion.

Summary

A 3.8% market cap decline implies approximately $115.5 billion in lost value, using CoinGecko’s rounded figures. Bitcoin fell 4.3%, while Ethereum, XRP and Solana posted larger losses over 24 hours. CoinGlass figures cited in early coverage put long liquidations near $487 million over 24 hours. LVRG Research’s Dan Khus described the decline as a leverage flush as traders await Fed minutes. CoinGecko data showed Bitcoin trading at $82,855.50, down 4.3%, while Ethereum fell 5.8% to $2,564.48 in the individual asset pages checked for this report. XRP lost 6.3% to $1.42, and Solana declined 4.9% to $115.80.

Across other major tokens, the tracker recorded losses of 8.5% for Cardano and 8.2% for Dogecoin. BNB slipped 2.5%, Chainlink and Hyperliquid each fell 5.2%, and TRON declined 0.3%, according to their CoinGecko pages.

Using the main page’s rounded capitalization and percentage change, the market was worth approximately $3.041 trillion a day earlier. The estimated $115.5 billion reduction measures the change in token valuations rather than an equivalent amount of cash withdrawn by investors.

Forced long closures have accelerated BTC and ETH losses CoinGlass data cited in an Oct. 7 report on the crypto market’s liquidation wave put total forced position closures at approximately $554.8 million over 24 hours, including $487 million in longs. Within one hour, the same report recorded $403.58 million in long liquidations, representing 97% of the $415.33 million total.

In comments shared with crypto.news, Dan Khus, chief analyst at LVRG Research, attributed the dip to crowded bets on rising prices being forced out. He described the episode as a leverage flush rather than the start of a downward trend.

“The dip in crypto prices serves as a leverage flush instead of a downward trend, stemming from crowded bets on higher prices being forced out, with most of the liquidations coming from long positions.”

According to the liquidation report, falling prices forced exchanges to close bullish leveraged positions, adding sell orders during the decline. Its CoinGlass snapshot put the one-hour liquidations at about 0.27% of total open interest, leaving substantial derivatives exposure after the initial drop.

Ether positions accounted for roughly $174 million of a separate $547 million liquidation, as per reports. Futures trading volume rose 16% to $182.85 billion while open interest slipped just 1% to $152.60 billion.

Tanker attacks and oil prices have added selling pressure CoinDesk linked Bitcoin’s fall below $84,000 to stepped-up Iranian attacks on tankers in the Strait of Hormuz, with Brent crude moving above $101 a barrel as Treasury yields and the dollar rose.

In an Oct. 5 dispatch, Reuters reported that shipping intelligence service Marisks had counted at least seven tanker incidents during the preceding week. Marisks said the Kazimah III was struck on Oct. 1 and the Lipsi on Oct. 4; crews on both ships were reported safe.

The same dispatch placed the Strait of Hormuz’s pre-war share at about 20% of global crude and liquefied natural gas supply. Reuters also reported that Gulf crude exports had exceeded pre-war levels on 14 days in September, despite continued shipping risks.

Wednesday’s early market coverage cited Reuters figures placing the 10-year U.S. Treasury yield at 5.307% and the dollar index at 102.07, up 0.16%. The report also noted preparations for a $39 billion auction of 10-year Treasury securities.

For American Bitcoin investors, HashKey Group senior researcher Tim Sun had already identified long-term yields, U.S. spot ETF flows and derivatives leverage as the main factors to follow. In Sep. 29 coverage of another Fed hike’s risks, Sun said higher long-term rates and tighter dollar liquidity could weaken Bitcoin demand.

Fed minutes have put another rate increase in focus Khus said traders were watching Wednesday’s Federal Reserve meeting minutes for indications that policymakers still wanted another increase this year. He also identified next week’s inflation reading and Bitcoin’s ability to hold the mid-$80,000 area as tests for whether forced selling would resume.

The Federal Reserve’s September statement raised its target range by 25 basis points to 3.75%–4.00%. As covered on Sep. 16 in the report on the unanimous Fed rate increase, all 12 voting members supported the first hike since July 2023.

The September coverage also recorded 16 of 18 policymakers projecting at least one additional quarter-point increase before year-end. According to that report, Goldman Sachs Asset Management’s Kay Haigh regarded December as the base case for another increase, with inflation readings and energy prices influencing the decision.

By Oct. 1, coverage of Jefferson’s rate hike comments cited Polymarket odds of 23% for an October increase, compared with about 70% a week earlier. The same report said Goldman Sachs had moved its forecast for the next increase to December.

In his Oct. 1 speech, Fed Vice Chair Philip Jefferson said future policy changes should depend on economic data, the outlook and the balance of risks. He supported September’s increase but said officials might need more time to reach their next judgment, while identifying geopolitical developments and stronger demand as upside risks to inflation.

Four Hyperliquid wallets opened shorts before Bitcoin fell Lookonchain’s Oct. 7 monitoring, reproduced by ICOBench, identified four newly created wallets depositing a combined $1 million in USDC into Hyperliquid before opening Bitcoin shorts listed at 40x leverage. The positions totaled 148.49 BTC, worth approximately $12.5 million, according to the blockchain tracker.

ICOBench’s review placed the short entries between $85,475 and $85,577 and reported approximately $235,000 in unrealized profits with Bitcoin near $83,942 at its snapshot. The publication said the available records did not show the wallets’ complete margin arrangements, other positions, or hedges.

Crypto analyst Ali Martinez shared notable technical levels for Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). According to Martinez, the TD Sequential indicator on Bitcoin’s hourly chart gave a buy signal in the key support zone around $83,000.

The analyst noted that this signal was particularly noteworthy. Martinez recalled that the correction in Bitcoin over the last 24 hours followed a previous sell signal from the same indicator, and stated that the TD Sequential turning bullish at the support level this time could indicate a possible rebound.

Martinez stated, “The TD Sequential indicator on Bitcoin’s hourly chart gave a buy signal just around the $83,000 support level. Prior to the correction in the last 24 hours, the same indicator had generated a sell signal. Now that the indicator has turned bullish at the support level, I am closely watching for a potential BTC recovery.”

Martinez adopted a more cautious stance regarding Ethereum and Solana. The analyst stated that Ethereum could be leading the downward movement in the market, while Solana might be following ETH.

Martinez stated that if Ethereum continues its downward movement towards $2,500 after breaking out of a price channel, a new wave of decline could be seen in Solana as well, adding that he is initially watching the $114 level for SOL. He further indicated that if this support is lost, $110 could be the next important level.

*This is not investment advice.

Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!

In brief Wallets Arkham labels as belonging to the U.S. government moved about $103.2 million on Tuesday. Arkham ties the Bitcoin to forfeited HashFlare fraud funds and Bitfinex hack seizures, and the BNB to seized Alameda Research funds. No sale has been announced. Arkham research puts U.S. holdings at about 325,000 BTC, ahead of the U.K. at 61,245 BTC and El Salvador at 7,200 BTC. Cryptocurrency wallets controlled by the U.S. government moved more than $100 million in Bitcoin and BNB on Tuesday, according to data from blockchain analytics firm Arkham.

Some of it landed at Coinbase Prime, which market observers typically interpret as being deposited for sale. But the reason for the move, or if any sale is planned, is currently not confirmed.

Myriad: How high will Bitcoin go? Click to make your prediction.The Bitcoin part of the stash amounted to 833.6 BTC, worth about $71.6 million. It hopped through two unlabeled addresses before reaching deposit addresses Arkham tags as Coinbase Prime, the service Coinbase runs to trade and store crypto for big institutions.

Arkham ties about 568.7 BTC of that to forfeited funds from Sergei Potapenko and Ivan Turõgin. "Forfeited" means a court has signed off on the government keeping assets tied to a crime. The two Estonians ran HashFlare, a crypto-mining service that sold mining contracts without the computing power to back them.

Bitcoin transfers from government wallets. Image: ArkhamProsecutors say HashFlare took in more than $577 million in sales between 2015 and 2019. A federal court sentenced both men in August 2025 to the 16 months they had already served. The Justice Department said forfeited assets would be available to repay victims.

The other 264.9 BTC came from the Bitfinex hack. In 2016, hacker Ilya Lichtenstein stole 119,754 BTC from the exchange. In January 2025, the Justice Department argued that 94,643 BTC should go back to Bitfinex. The government kept moving funds from that wallet throughout the day until it was fully drained.

The rest of that $103 million in crypto was BNB, the token of the Binance exchange. The government moved 40,285 BNB, worth $31.63 million, to an unlabeled address, which later passed the full amount to another one. Arkham traces the coins to funds seized from Alameda Research, the trading firm tied to the collapsed FTX exchange.

A transfer, though, is not a sale. Coinbase Prime also acts as the government's custodian—basically a vault service—so a deposit can mean storage, as in a similar $288 million move in July. Only the government knows which one this is, and it hasn't said.

The U.S. government has sold plenty of seized Bitcoin before, but it’s been a while. When it sent 19,800 BTC from the Silk Road haul to Coinbase in December 2024, worth about $1.92 billion, Bitcoin slid more than 2% within 24 hours. Silk Road was an online black market the government shut down.

Bitcoin's price runs on supply and demand, and a government unloading a big pile at once can push it down for every holder. That is why traders watch these wallets.

But when it comes to crypto sales at the moment, the government's hands are partly tied. A March 2025 executive order created a Strategic Bitcoin Reserve, a stash of forfeited Bitcoin that "shall not be sold." Bitcoin counts only once it is finally forfeited, so coins tied to open criminal cases sit outside it.

BNB isn't Bitcoin, so it falls under a separate Digital Asset Stockpile. Treasury can release those assets only for things like repaying crime victims, law enforcement operations, or legal requirements. Treasury Secretary Scott Bessent has said forfeited Bitcoin is the foundation of the reserve.

Tuesday's coins are a sliver of the government’s total pile. Arkham's September research puts U.S. government holdings at about 325,000 BTC, worth roughly $27 billion, or about 1.6% of Bitcoin's supply. That makes Washington the largest government holder in Arkham's ranking, ahead of the U.K. at 61,245 BTC and El Salvador at 7,200 BTC.

Almost all of the U.K.'s stash came from a fraud that hit more than 120,000 Chinese pensioners, while El Salvador got its Bitcoin through direct purchases and mining.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Bitcoin’s recent move above the $85,000 level is not considered a strong breakout due to low trading volume and limited new capital inflows. According to Glassnode’s analysis, short-term investors are using the rise for profit-taking, while significant liquidation levels in the market are accumulating below the current price.

Glassnode noted that although Bitcoin surpassed the intense sell orders around $85,000, the move occurred with low trading volume. The total average daily trading volume of spot cryptocurrency platforms and spot Bitcoin ETFs in the US is approximately $6.8 billion. This figure is lower than about 90% of the trading days since January 2024.

According to the report, in the 30-day period ending October 5, ETF inflows, growth in stablecoin supply, and corporate treasuries’ Bitcoin purchases injected approximately $4.9 billion in new capital into the market. In contrast, Bitcoin’s realized market capitalization increased by approximately $12.8 billion during the same period. Thus, new capital inflows accounted for less than 40% of the increase in market capitalization.

Glassnode also noted that short-term investors who recently bought Bitcoin are viewing the rise as a selling opportunity. On October 4th, approximately 86% of the Bitcoins sent to exchanges came from short-term investors who were in profit. This figure marks the highest level in the past year.

The picture looks more optimistic in the derivatives market. In the Bitcoin options market, the ratio of open positions to call/put options has fallen to approximately 0.56, while investors’ spending on call options has significantly exceeded their spending on put options. This indicates that options investors are once again taking bullish positions.

The liquidation map shows that most of the risks are concentrated below the Bitcoin price. According to Glassnode, the nearest large liquidation clusters are between $81,700 and $83,300. It was also noted that the largest buy orders in the Binance order book are concentrated between $81,000 and $81,250.

Glassnode emphasized that Bitcoin needs a recovery in spot trading volume and ETF demand to regain strength, and that a strong close above $85,500 could signal that the breakout has found real buyer support. In such a scenario, the large cluster of short liquidations around $92,000 could become the target.

Conversely, Glassnode warned that the following liquidation clusters could be triggered if the strong buying zone around $81,000 is lost. Glassnode also noted that leverage levels remain high in the altcoin market and that a further drop in Bitcoin could accelerate mandatory liquidations in altcoins.

*This is not investment advice.

Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!