Bitcoin treasury firms remain the most bullish players on the asset in 2026. So far, businesses have bought the largest stash of 193K Bitcoin, nearly 20x more than overall purchases made by nation-states over the same period.
The U.S. spot Bitcoin ETFs (exchange-traded funds) and hedge funds had a small outflow of 594 BTC, while individuals dumped a whopping 93K BTC.
Out of the massive appetite seen amongst businesses, Strategy accounted for over 91% of 2026 BTC purchases, or about 175K BTC. Analysts hailed the buying spree, given that Bitcoin has been stuck in a winter market for most of 2026.
For Phong Le, Strategy CEO, however, the trend was positive and cemented their Bitcoin bet.
The trend towards corporate, institution, bank, and nation-state adoption of Bitcoin is encouraging and makes us even more bullish on Bitcoin.
Source: River Strategy and Strive both hauled in 197K BTC. Other conventional businesses also bought over 20K BTC in 2026. In fact, even Robinhood joined the trend with a $25 million Bitcoin purchase this week.
Other Bitcoin treasury firms acquired 8K BTC, but after adjusting for total business holdings, the stash fell to 193K BTC because miners offloaded 33K BTC as some pursue an AI pivot.
Source: River Why Strategy is betting on Bitcoin’s broader adoption Strategy’s initial Bitcoin bet was to offer amplified exposure to clients via its stock MSTR. The stock would offer several multiples of gains and losses relative to Bitcoin swings.
However, with preferred stocks, the firm doubled down on the ‘digital credit’ model backed by its Bitcoin holdings.
Recently, the firm has been closely tracking a composite Bitcoin adoption index across nations, firms, and associated products tied to the asset. Worth noting that the firm initially floated the idea of becoming the first Bitcoin bank to offer more digital credit products beyond Stretch [STRC].
Currently, the 12% yield paid to STRC and other preferred stocks is generated by diluting MSTR shareholders. In fact, some have criticized the model as a ‘Ponzi scheme’ because the yield is not coming directly from its vast BTC holdings.
It remains to be seen how Strategy will scale its digital credit pipeline.
That said, despite Bitcoin treasury firms leading the demand front by $15 billion in 2026, this was still low relative to 2025.
Source: River However, assuming this is an early bull market like in 2023, the current pace of inflows from Bitcoin treasuries was relatively higher and strong.
Strategy has a cost basis of about $75K, while the U.S. Spot Bitcoin ETF has an average cost basis of $82K. As such, these levels could act as crucial support if the ongoing Bitcoin pullback deepens.
Source: Glassnode Final Summary Strategy bought 175K BTC of the 193K BTC (91%) acquired by businesses in 2026 Strategy’s CEO said the institutional and state adoption trend has made them even more bullish on Bitcoin
Financování nákupů bitcoinu společnosti Strive prostřednictvím preferenčních akcií SATA se zastavilo poté, co jejich cena od středy klesla pod nominální hodnotu 100 USD.
Strive’s SATA program reportedly generated about 55 million dollars this week, enough to buy nearly 638 bitcoins. But this financing capacity depends directly on the preferred stock price. From Wednesday, the stock fell below 100 dollars, preventing the company from continuing its issuances. A limit that recalls the risks of the Strategy-inspired model.
In brief The SATA program reportedly brought in 55 million dollars, the equivalent of 638 bitcoins, according to trackers. The stock closed below its nominal value of 100 dollars for three sessions out of five, slowing new issuances. As of October 2, Strive held 29,462 bitcoins, according to its latest official filing, which also reports 1,304,902 additional preferred shares. Financing stopped below 100 dollars The mechanism relies on a simple logic. Strive, which held 27,462 bitcoins at the end of September, gradually sells SATA preferred shares as part of an “at-the-market” (ATM) program. The company then uses the funds raised to strengthen its bitcoin reserve.
However, this device imposes a condition: the stock must remain above its nominal value of 100 dollars. Yet, this week, SATA only exceeded this threshold on Monday and Tuesday. From Wednesday onward, the price dropped below, thus cutting the main source of financing for purchases.
According to trackers, Strive still raised about 55 million dollars over the week, enough to acquire nearly 638 bitcoins. This estimate is based on trades executed above par and on a ratio calculated from previous company statements. With bitcoin around 82,800 dollars Friday, this amount matches the announced magnitude.
Strive takes the lead over Strategy Michael Saylor popularized this strategy at Strategy thanks to STRC, its perpetual preferred variable rate share. Strive adopts the same principle with SATA, but on a smaller scale.
In its October 5 filing with the SEC, Strive indicates having issued 1,304,902 additional preferred shares between September 25 and October 2. Their nominal value thus exceeds 130 million dollars.
Over the same period, Strategy sold no STRC shares and financed the purchase of 334 bitcoins with common shares, bringing its reserve to 848,000 units. However, Saylor sees Strive as an ally rather than a rival.
Dividends to finance over time This strategy nevertheless has a cost. Each SATA issuance brings immediate funds but also increases the dividends that Strive will have to pay in the future. As of September 30, the company estimated its annualized obligations at 168.2 million dollars, for 1.294 billion dollars of shares issued at par.
Moreover, its portfolio remains exposed to bitcoin fluctuations. As of September 30, Strive held 28,000 BTC purchased at an average price of 90,170 dollars, while their market value reached about 2.34 billion dollars. Bitcoin was then trading below this acquisition cost. The 2,000 bitcoins bought the following week were acquired at about 84,422 dollars each.
The next official filing will be awaited to know the exact balance of the week. Meanwhile, the 638 bitcoins remain an estimate. One thing is certain: Strive’s model works as long as investors accept to buy SATA above its nominal value.
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Fenelon L.
Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Rusko nově vyžaduje, aby kryptoměnové těžební farmy při novém připojení k elektrické síti přijaly kategorii 4 spolehlivosti dodávek, která umožňuje jejich odpojení při nedostatku elektřiny. Pravidla se vztahují také na některé dříve podané žádosti o připojení, jejichž vyřízení dosud nebylo dokončeno.
Russia has introduced new electricity supply rules requiring cryptocurrency mining farms to accept lower-priority power connections, allowing authorities to disconnect their facilities during shortages while protecting electricity supplies for households and other consumers.
Summary
Russia has limited cryptocurrency mining grid connections to Category 4 reliability under government Resolution 1300. Mining farms face priority electricity cuts during shortages as authorities seek to protect other consumers. The October 6 decree covers cryptocurrency mining facilities, mining pools, and companies operating mining infrastructure. Previously submitted grid connection applications remain subject to revised requirements if their processing remains incomplete. Russia introduced Category 4 power connections in February 2026 to manage electricity shortages more effectively. The Russian Ministry of Energy confirmed the changes on October 9 following the government’s adoption of Resolution No. 1300 on October 6. The measure requires cryptocurrency miners and mining infrastructure operators seeking connections to the national electricity grid to use Category 4 power supply reliability, which permits interruptions when electricity is needed elsewhere.
The new requirements apply across Russia, including regions where mining is permitted. They affect new grid connection applications and certain previously submitted requests that have not been completed.
Russia requires crypto miners to accept lower-priority electricity Under the new rules, companies operating cryptocurrency mining farms can connect their equipment to electricity networks only through Category 4 power supply arrangements.
Government Resolution No. 1300 amended the country’s existing electricity connection regulations, introducing a specific requirement for facilities used to mine digital currencies or provide mining infrastructure services.
The measure covers companies operating mining equipment, businesses participating in mining pools and infrastructure providers supporting cryptocurrency mining activities.
Category 4 connections have a lower supply priority than conventional electricity arrangements. Operators accepting these connections must be prepared for interruptions when electricity networks experience shortages or operational problems.
The Ministry of Energy said mining facilities could be disconnected without the advance coordination normally associated with higher-priority electricity users.
According to the ministry, placing miners in this category will help prevent additional electricity demand from reducing the power available to other customers.
The government expects the arrangement to allow mining facilities to use existing electricity infrastructure without requiring the same level of guaranteed capacity provided to higher-priority consumers.
Importantly, the decree does not impose an immediate nationwide shutdown of operating mining farms. It changes the conditions under which mining facilities obtain grid connections and establishes rules for handling electricity shortages. The text does not establish that every facility already operating under a completed higher-priority connection must immediately move to Category 4.
Bitcoin mining farms could lose power during shortages The Category 4 framework was introduced in February 2026 through Government Resolution No. 103, which established a separate electricity connection arrangement for consumers willing to accept a less reliable supply.
The February regulations allow eligible electricity users to obtain connections when the existing grid cannot support another conventional connection without infrastructure improvements.
However, customers using the lower-priority arrangement face restrictions during emergency conditions.
According to the government rules, Category 4 consumers are placed ahead of most other electricity users when authorities prepare emergency power reduction schedules. Their electricity is generally restored after supplies return to higher-priority customers.
For cryptocurrency miners, the October decree makes Category 4 the required reliability category for qualifying new grid connections. Officials explained that the measure would help address unexpected increases in electricity demand from mining facilities, which can operate continuously and require substantial power capacity.
In its statement, the Energy Ministry described the changes as supporting the “efficient use of existing energy infrastructure” while protecting reliable electricity supplies for residents.
Mining operators would remain responsible for managing their operations when electricity becomes unavailable. The regulations do not promise uninterrupted service or require authorities to maintain power for mining equipment during shortages.
The decree’s technical requirements cover grid connection procedures and the equipment needed for emergency electricity restrictions.
Applications may be rejected if the electricity system operator determines that the requested connection cannot meet the applicable technical conditions.
Russia updates mining restrictions in areas facing power shortages The latest rules contain provisions for regions where the government has restricted cryptocurrency mining because of electricity supply concerns.
Under Resolution No. 1300, the treatment of Category 4 mining connections depends on whether the government has imposed a complete mining prohibition in a particular territory. Where a complete ban applies, electricity providers cannot accept new Category 4 connection applications for mining equipment covered by that restriction.
Processing of previously submitted applications and work under certain existing connection agreements must be suspended until the relevant prohibition is lifted. Once a complete prohibition ends, the rules require electricity network companies to resume specified procedures and address affected connection agreements within the periods established by the decree.
The legislation separately provides for certain regions where mining may operate under Category 4 connections despite restrictions that would otherwise apply.
However, qualifying for a lower-priority electricity connection does not automatically exempt mining operators from every regional ban. Russia has expanded its regional mining restrictions several times since legalizing regulated cryptocurrency mining in 2024.
Earlier measures covered parts of the North Caucasus and Siberia, where electricity shortages and growing demand had raised concerns among local authorities.
In August 2026, Russia expanded restrictions on cryptocurrency mining in Moscow, the surrounding Moscow Region and designated areas of Kursk.
Government Resolution No. 936 introduced restrictions beginning August 15, 2026, with an end date of December 31, 2032, unless amended.
Regional energy officials had estimated that cryptocurrency mining consumed approximately one gigawatt of electricity within Moscow’s power system. The figure was cited during discussions about preventing capacity shortages.
Separate regional cryptocurrency mining controls were introduced beginning in January 2025, including seasonal restrictions affecting parts of Buryatia, Zabaykalsky Krai and Irkutsk.
The October electricity connection decree operates alongside the existing restrictions governing where mining activity is permitted.
New power rules affect pending mining connection applications Mining companies planning new facilities must now account for the Category 4 requirement when submitting grid connection requests.
The decree amends the technical connection process and requires qualifying mining facilities to meet the relevant conditions covering system capacity, protective equipment and electricity network operations. For applications already submitted but not yet completed, the new framework may change how electricity providers review requests and issue technical connection conditions.
Government Resolution No. 1300 specifies that when a complete regional mining ban applies, providers must suspend the processing of affected pending applications, the signing of relevant connection agreements and certain previously agreed implementation deadlines.
The legislation sets procedures for restarting those processes when a full prohibition is canceled, including requirements concerning updated connection agreements and applicable charges. In cases where a grid operator cannot approve the necessary Category 4 connection conditions, the regulations provide for rejection or cancellation of applications under specified circumstances.
Russia’s Federal Antimonopoly Service had separately proposed restrictions preventing electricity companies from conducting cryptocurrency mining or supplying certain facilities and capacity to mining businesses. Bits.media reported on October 10 that the proposal formed part of regulatory discussions concerning electricity providers’ involvement in the mining industry. The October 6 decree does not establish that the antimonopoly proposal has been adopted.
The Ministry of Energy has not announced how many mining farms will require new connections under Category 4 or how much electricity capacity the changes are expected to release for other consumers.
Americká spotová ETF na bitcoin zaznamenala mezi 17. a 25. zářím 2026 čistý příliv kolem 3 miliard USD, čímž se letošní bilance dostala do plusu 934 milionů USD.
US spot Bitcoin ETFs took in approximately $3 billion in net inflows between September 17 and September 25, 2026. That stretch ranks among the strongest buying periods since the funds launched in January 2024.
The burst did something months of grinding could not. It pushed the year’s flow tally out of the red.
Hedge funds, often cast as the fast money behind ETF surges, appear to have played only a minor role this time. The buying looks more like a broad institutional return than a trading desk making a short-term bet.
The numbers behind the rally The peak week alone delivered $2.4 billion in net inflows. That was the largest weekly haul since October 2025.
BlackRock’s IBIT led the pack with around $1.2 billion during that peak week. Fidelity’s FBTC added roughly $702 million, while ARK 21Shares’ ARKB brought in about $295 million.
The biggest single day came on September 21, 2026, when inflows hit nearly $999 million.
The rebound matters most against where flows stood earlier in the year. By mid-July, the funds were sitting on a year-to-date deficit of about $5.8 billion.
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By late September, that hole had become a modest net positive of about $934 million.
The flows lined up with Bitcoin’s price recovery. During the period, Bitcoin traded between $82,000 and $87,000.
A record quarter, then a cooldown Zoom out and the third quarter looks even stronger. Q3 2026 recorded $6.34 billion in Bitcoin ETF inflows, the highest of any quarter this year.
Cumulative net inflows since launch reached approximately $57-58 billion by early October 2026. Total assets under management sat around $105-110 billion over the same window.
The party did not last. Net outflows resumed in early October 2026, including a $244 million outflow on October 8.
Why the source of the money matters When the spot ETFs debuted in January 2024, they offered something new. Traditional investors could get Bitcoin exposure through a brokerage account, no crypto exchange or private keys required.
Who is buying shapes how durable a rally might be. Hedge fund flows often tie to basis trades, where funds buy ETF shares and short futures to capture a price gap. That kind of buying can unwind quickly once the spread closes.
Broader institutional demand tends to be stickier. If allocators are adding Bitcoin as a portfolio slice rather than a trade, the money is less likely to sprint for the exit at the first wobble.
The late-September data leans toward the second scenario.
What this means for investors For investors, the clearest signal is a shift in sentiment. Wiping out a deficit of about $5.8 billion suggests institutions still see Bitcoin as a legitimate portfolio holding, not just a speculative side bet.
The concentration in BlackRock’s IBIT also stands out. With around $1.2 billion of the peak-week inflows, the largest issuer kept widening its lead over Fidelity and ARK 21Shares.
Still, the October outflows serve as a reminder against reading too much into any single week. A $244 million exit on October 8 shows that sentiment can flip as fast as it arrived.
Bitcoin’s price range also deserves attention. Inflows clustered while Bitcoin recovered into the $82,000 to $87,000 band.
What to watch next is whether early October outflows prove to be a pause or a turn. If the year-to-date total of about $934 million slips back toward negative territory, the September surge will look more like a relief rally than a trend.
If inflows resume and cumulative totals push past the approximately $57-58 billion mark, the case for steady institutional adoption gets stronger.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Tržby bitcoinových těžařů vzrostly od červencového minima o 78 % na zhruba 48 mil. USD denně a jejich přetrvávající prodejní tlak polevil, uvádí CryptoQuant.
BTC's price recovery from the early July lows have dramatically improved conditions for miners. The impact has started to show.
CryptoQuant’s latest weekly report, shared with CryptoPotato, said that bitcoin miners’ revenues have jumped 78% from the July lows, profitability has improved, and the extreme miner outflows have disappeared.
After concluding that these major network participants have emerged from their toughest period of the year, CQ added that BTC’s price could further benefit due to the removal of this consistent selling pressure.
Selling Pressure From Miners Is Fading The report highlighted no extreme miner outflow events since August 21, when roughly 29,000 left wallets associated with them as the cryptocurrency’s price rallied from under $65,000 to $76,000. The largest daily outflows were approximately 12,000 BTC, within what the analytics company considers a normal range.
Older miners are also selling substantially fewer units. Excluding Patoshi-associated BTC, Satoshi-era miners moved approximately 600 units out of their wallets in September, around 70% below January’s 2,000 BTC. At the same time, their combined holdings remain close to 590,000 bitcoins.
The trend extends to larger modern miners as addresses holding between 100 and 1,000 units saw their collective balance drop by about 20%, from roughly 64,000 BTC in December 2025 to 51,000 BTC by early September. However, the figure has since stabilized rather than continuing to decline.
Although CQ admitted that miners are not accumulating yet, the report determined that the persistent selling pressure has stopped. This is a notable change from early August, when we reported that major miners, including MARA and Riot Platforms, were continuing to move BTC to NYDIG amid difficult industry and market conditions.
Why Such a Change? The report explained that miners are not obligated to sell right now because BTC has rallied 45% from under $58,000 at the start of July to over $83,000 this week. This lifted the total daily miner revenue from $27 million to around $48 million, which shows a 78% increase. Transaction fees also recovered from a seven-day average of $195,000 to $275,000, although they remain far below the peaks seen in 2025.
You may also like: These 5 Bitcoin Indicators Have Turned Bullish for the First Time Since 2025: Report Bitcoin Sees Second-Biggest Profit-Taking Day of 2026 After Climbing Past $87K Liquidations Hit $480M In an Hour as Bitcoin Plunges Below $81K CryptoQuant’s Miner Profit/Loss Sustainability Indicator shifted from “extremely underpaid” between May and August to “fairly paid” after August 21. This means miners earning enough to cover operating costs need less to liquidate BTC just to stay afloat.
Bitcoin’s hash rate has recovered as well, going from under 900 EH/s in late July to over 960 EH/s, while its drawdown from the previous peak narrowed from 18% to 13%. CQ interprets this as mining capacity returning rather than operators capitulating.
However, the report outlined a missing piece. Miners have stopped selling, but they have not yet started rebuilding their BTC balances. CQ believes a sustained return to accumulation would provide an even stronger signal that the backbone of the Bitcoin network has shifted decisively from a source of market supply to long-term holders.
Pád kryptoměn 10. října 2025 vyvolal likvidace pozic za téměř 19 miliard USD poté, co Bitcoin během několika minut klesl ze 122 000 USD na 105 000 USD.
On October 10, 2025, the cryptocurrency market suffered a brutal crash that led to nearly 19 billion dollars in liquidations. A few days after a historic record above 126,000 dollars, bitcoin quickly lost part of its value. One year later, traders have better tools to monitor risks. Yet, leverage, excessive positions, and the weight of derivatives continue to weaken the market.
In brief The crypto crash of October 10, 2025 caused nearly 19 billion dollars in liquidations. Bitcoin fell from 122,000 to 105,000 dollars in a few minutes. Leverage and excessive long positions amplified market risks. Traders have better tools to monitor open positions and funding rates. One year after the crash, derivatives continue to threaten the stability of the crypto market. Bitcoin faced the memory of the October 2025 crash On October 10, 2025, the market experienced one of its most violent episodes. After exceeding 126,000 dollars, bitcoin saw its price drop from around 122,000 to 105,000 dollars. Most of this decline happened within minutes. This rapid drop surprised many investors who were still anticipating a price increase.
The collapse caused about 19 billion dollars in liquidations on cryptocurrency markets. These liquidations affected traders who had taken large positions using leverage. Their bets were notably based on the continuation of the rise and on historical market cycles. When prices reversed, these positions suffered fast losses.
For Mark Connors of Risk Dimensions, the magnitude of the move surprised market participants. This former head of a hedge fund positioning product at Credit Suisse highlights the weight of trader positioning.
It was a very fast and brutal market peak that we didn’t expect; positioning was significant then, and it still is today.
According to him, investors had accumulated significant long positions before the crash. This concentration of bets increased their exposure when the market abruptly changed direction.
Leverage remains at the heart of market risks Before the crash, open interest approached its highest historical levels. This indicator measures the number of derivative contracts still active in a market. At the same time, many traders anticipated a new bitcoin rally. Some even considered targets between 250,000 and 400,000 dollars, relying on previous cycles.
However, the crash showed the limits of these expectations. Connors estimates that “the movement mainly came from derivatives rather than blockchain data.” In other words, price variations can result from financial positions taken on the asset, without directly reflecting actual demand. This distinction remains essential to understand rapid market moves.
Perpetual futures contracts illustrate this dynamic. They allow traders to speculate on price changes without directly holding the cryptocurrencies involved. These instruments still hold an important place in trading, while platforms have financial reasons to continue offering leveraged products. Consequently, the same mechanisms that can amplify an uptrend can also accelerate a downturn.
More precise monitoring tools for traders Since October 2025, market participants have had additional information to assess their exposure. Connors notably highlights progress in the analysis of order books and positioning. These data help traders better understand market structure. However, they do not allow predicting with certainty the next price movement.
Chris Sullivan, co-founder of Hyperion Decimus, recommends first limiting leverage use. He also advises monitoring open positions, funding rates, and general market sentiment. These indicators can reveal an excessive accumulation of bets in one direction. Their combination thus allows spotting certain situations where the market becomes more vulnerable.
Funding rates deserve particular attention on perpetual contract markets. They reflect the cost associated with maintaining certain positions and provide indications about trading conditions. Meanwhile, open interest informs on the extent of still active commitments. When these measures reach extreme levels, Sullivan recommends patience rather than hasty decisions, whether traders anticipate a rise or a fall.
Bitcoin holders must also protect their assets The lessons from the crash also concern investors who wish to hold their assets for a long time. Sullivan recommends that they buy their bitcoins, then transfer them off exchange platforms to a secure place of custody. This approach limits their direct exposure to risks linked to keeping funds on a trading platform. It also distinguishes holding the asset from speculating on its short-term price changes.
This caution does not mean investors can eliminate all risks. Rapid price moves remain possible, even when traders monitor their positions more closely. Connors reminds that leveraged products are still present in the market. A new episode comparable to that of October 10, 2025, thus remains possible, despite progress made in data analysis.
Increased visibility nevertheless constitutes a notable change since the previous crash. Traders can better spot certain imbalances and measure their exposure before making decisions. However, having better tools does not guarantee a sufficiently swift reaction or complete protection from losses. Risk management thus remains a central issue for investors active in derivatives markets.
The four-year cycle questioned after the fall The crash also challenged another market belief: the ability of the four-year cycle to guide price expectations. This cycle is notably based on the periodic reduction of rewards given to miners. Before October 2025, some investors believed this mechanism could herald new peaks. However, the severity of the drop showed this reference was not enough to explain market movements.
Connors considers that the four-year cycle has not disappeared but that it has evolved:
The four-year cycle is not dead; it has changed, and we can no longer rely on it as much as before.
According to him, investors can no longer base their confidence on this model as before. Economic and political factors may now play a larger role in bitcoin’s fluctuations. This evolution complicates forecasts based solely on historical trends.
Moreover, the development of institutional investment products has not eliminated the influence of derivatives on short-term prices. The arrival of new actors does not prevent speculative positions from causing rapid moves. One year after the crash, Connors nevertheless believes investors pay more attention to market structure. This awareness represents one of the main lessons of the episode.
As the first anniversary of the October 10, 2025 crash approaches, the market thus retains a better understanding of its mechanisms, without having removed its main sources of fragility. Future developments will notably depend on trader positioning, leverage use, and the weight of derivatives. For BTC, investors’ ability to manage these risks will remain decisive. The market survived this drop, but nothing guarantees that the next shock will produce the same consequences.
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Ghiles A.
Journaliste et rédacteur web passionné par l’univers des cryptomonnaies et des technologies Web3. J’y traite les dernières tendances et actualités afin de proposer un contenu de haute qualité à un large public du secteur.
Obchodníci soustředili call opce na Bitcoin o nominální hodnotě 4,53 miliardy USD na realizační ceny v rozmezí 90 000 až 100 000 USD se splatností 30. října; nejvíce kontraktů cílí na 95 000 USD.
Traders have concentrated 4.5 billion dollars of bitcoin call options between 90000 and 100000 dollars, with an expiration set for October 30. This accumulation reflects a renewed interest in a BTC price increase, without constituting a unanimous market forecast.
In Brief Traders concentrate 4.5 billion dollars of call options on Bitcoin, with an expiration on October 30. The main targets are at 90000, 95000, and 100000 dollars, with a strong concentration at 95000 dollars. These amounts represent the notional value of the contracts, not the sums actually invested. Despite traders’ optimism, the 78000 dollar level remains a caution signal. Without sufficient Bitcoin rise, many options could expire worthless on October 30. Traders target three price levels for bitcoin Bitcoin is trading around 83000 dollars, after regaining part of the lost ground earlier this month. On the options market, call contracts now represent 60.24% of open interest, versus 39.76% for put options.
The October 30 expiration concentrates a large part of these positions. Deribit, the main platform in the sector, records notably the equivalent of 25030 BTC on call options set at 95000 dollars. Their notional value approaches 2.07 billion dollars.
Three strike prices currently dominate this expiration :
About 1.26 billion dollars of call options at 90000 dollars ; Nearly 2.07 billion dollars positioned at 95000 dollars ; About 1.20 billion dollars concentrated at 100000 dollars ; In total, nearly 54750 BTC, or 4.53 billion dollars of notional value. The 95000 dollar threshold thus constitutes the main concentration point. To reach it, bitcoin would need to rise about 14% from its current price before contract settlement.
This setup seems to favor a bullish scenario. However, it does not mean that 4.5 billion dollars have actually been invested to bet on a BTC increase.
A notional value that does not correspond to amounts committed The 4.5 billion dollar value corresponds to the notional amount of the contracts. It is obtained by multiplying the number of bitcoins represented by the options by the asset price. Investors pay only a premium to buy these contracts, generally much lower than their notional value.
Open interest also does not specify each participant’s strategy. A call option always involves a buyer and a seller. Some traders may anticipate a bitcoin rise, while others sell the same contracts because they believe the price will remain below their strike price.
Investors also combine several options to form complex strategies. For example, an operator might buy a call at 90000 dollars and sell another at 95000 dollars to limit cost and potential gain. Others use these products to hedge an existing position.
The dominance of calls therefore constitutes a sentiment indicator, not proof that the entire market expects bitcoin at 95000 dollars. The volume observed over the last 24 hours actually shows a tighter balance: 54.02% for call options against 45.98% for put options.
The 78000 dollar level remains a risk for the expiration The “maximum pain” price for the October 30 expiration is around 78000 dollars on Deribit. This level corresponds to the price at which the total amount paid to option holders would theoretically be the lowest at settlement.
On Binance and OKX, this point is rather between 81000 and 82000 dollars. It therefore remains below the current bitcoin price and clearly distant from positions concentrated between 90000 and 100000 dollars.
Maximum pain, however, is not a prediction. It fluctuates with the opening and closing of positions. On a market dominated by calls, its level can also remain mechanically below bitcoin price.
Finally, futures provide a more cautious signal. Their open interest reaches about 51.7 billion dollars, after a 1.59% drop in 24 hours. Part of the leveraged positions has thus been closed, while options continue to attract traders.
The market will now have to watch bitcoin’s ability to sustainably exceed 90000 dollars. Without this progress, a large portion of calls placed at 95000 and 100000 dollars could expire worthless on October 30.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Bitcoin için zincir üstü veriler, piyasada toparlanma ihtimalini güçlendiren sinyaller üretmeye başladı. BIT tarafından geliştirilen kurallara dayalı piyasa modeli, iki aydır yüzde 67 net uzun pozisyon seviyesini korurken beş önemli gösterge de tarihsel olarak boğa piyasalarıyla ilişkilendirilen bölgelere geçti. Ancak Bitcoin’in yakın zamanda yaklaşık 7.000 dolar gerilemesi, yükseliş beklentisinin henüz kesinleşmediğini gösteriyor.
BIT Modeli Neden Yeniden Boğa Piyasasına İşaret Ediyor? BIT, 9 Ekim tarihli paylaşımında zincir üstü modelinin son durumunu açıkladı. Model, 1 Ekim 2025’te yüzde 100 net uzun pozisyonla hareket ederken 1 Kasım’da yüzde 33’e geriledi ve 1 Aralık’ta sıfıra indi. Bitcoin’deki düşüş sürecinin büyük bölümünde bu seviyede kalan model, 1 Eylül 2026’da yeniden yüzde 67’ye yükseldi.
Model, böylece aynı pozisyon oranını üst üste iki ay korudu. BIT’e göre beş göstergenin eş zamanlı olarak tarihsel açıdan yükselişle ilişkilendirilen seviyelere ulaşması, en son Ekim 2025’te görülen bir tabloyu yeniden ortaya çıkardı. Bu gelişme, Bitcoin döngüsünde toparlanma ihtimaline işaret etse de bütün göstergelerin olumluya dönmediği özellikle vurgulanıyor.
Bitcoin Maliyet Göstergeleri Ne Söylüyor? İlk gösterge, kısa vadeli gerçekleşen fiyat. Bu ölçüm, yakın zamanda alınan Bitcoin’lerin ortalama maliyetini tahmin ediyor. Bitcoin, Ekim 2025’te 112.300 dolar seviyesindeki bu ölçütün altına gerilerken Ağustos 2026’da 68.800 dolar seviyesinden yeniden üzerine çıktı. Güncel gösterge değeri 74.319 dolar olarak hesaplanıyor.
İkinci gösterge olan True Market Mean, piyasada aktif şekilde kullanılan sermayenin maliyet tabanını izliyor. Bu değer 77.460 dolar seviyesinde bulunurken CoinGecko verilerindeki Bitcoin fiyatı yaklaşık 82.000 dolardı. BIT, fiyatın bu eşiğin üzerinde kalıcı biçimde işlem görmesinin yükseliş senaryosunu daha güçlü hale getirebileceğini belirtiyor.
Bu iki gösterge, yatırımcıların maliyet seviyeleriyle mevcut fiyat arasındaki ilişkiyi değerlendirmeye yardımcı oluyor. Ancak fiyatın bu eşiklerin üzerinde bulunması, tek başına kalıcı bir yükseliş trendini garanti etmiyor.
MVRV, NUPL Ve VDD Göstergeleri Neden Önemli? Üçüncü gösterge olan MVRV, Bitcoin’in piyasa değerini gerçekleşen değeriyle karşılaştırıyor. MVRV okuması 0,20 seviyesinde bulunuyor. Bu ölçüm, piyasanın mevcut değerlemesini zincir üstündeki maliyet verileriyle birlikte değerlendirmek için kullanılıyor.
Dördüncü gösterge NUPL, yatırımcıların gerçekleşmemiş kâr ve zarar durumunu ölçüyor. NUPL yeniden pozitif bölgeye geçerek Ekim 2025’ten bu yana ilk kez bu seviyeye ulaştı. Bu değişim, toplam yatırımcı grubunun kâğıt üzerindeki kâr durumunun iyileştiğine işaret ediyor.
Beşinci gösterge ise Value Days Destroyed (VDD). Bu ölçüm, Bitcoin birimlerinin ne kadar süredir tutulduğunu ve değerlerini dikkate alarak zincir üzerindeki hareketlerini izliyor. VDD de yükselişle ilişkilendirilen bölgeye geçti. Böylece beş göstergenin tamamı aynı anda olumlu sinyal üretmeye başladı.
Bitcoin İçin Yükseliş Senaryosunu Hangi Riskler Bozabilir? Olumlu zincir üstü verilere rağmen Bitcoin’in fiyat performansı baskı altında. CoinGecko verilerine göre Bitcoin yaklaşık 82.000 dolardan işlem görürken son yedi günde yüzde 4,5, son bir yılda ise yüzde 32’den fazla değer kaybetmişti. Fiyat, 87.000 doların üzerine çıkmayı başaramadıktan sonra yaklaşık 7.000 dolar geriledi.
Bu düşüşle aynı dönemde ABD hükümetine ait önemli miktarda BTC’nin Coinbase Prime’a aktarılması, 7 ve 8 Ekim tarihlerinde spot Bitcoin ETF’lerinden toplam 731 milyon dolarlık çıkış yaşanması ve 1 milyar doları aşan gerçekleşmiş kâr satışları öne çıktı.
BIT, modelin henüz tamamen uzun pozisyona geçmediğini belirtiyor. Bazı göstergeler hâlâ yükseliş sinyali vermediği için Bitcoin’in kısa vadeli gerçekleşen fiyatın ve True Market Mean seviyesinin altında kalıcı biçimde gerilemesi erken bir uyarı olabilir.
Bu içerik kesinlikle yatırım tavsiyesi niteliği taşımamaktadır. Piyasalar yüksek risk içermektedir ve yatırım kararlarınızı almadan önce kendi araştırmanızı yapmanız önemlidir.
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Šéf společnosti Canary Capital Steven McClurg očekává, že výnos desetiletých amerických státních dluhopisů může během čtyř let dosáhnout 8 %, což by podle něj podpořilo zájem o Bitcoin ETF.
Canary Capital CEO Steven McClurg sees an opportunity in Bitcoin (CRYPTO:BTC) and other alternative assets even as he warns that 10-year U.S. Treasury yields could reach 8% within four years. His argument: rising borrowing costs could pressure debt-dependent companies and long-duration bonds, encouraging investors to seek alternatives — including cryptocurrency.
"The alternatives are TIPS, well-capitalized companies, commodities, and crypto (which do not issue debt)," McClurg said in an interview with Benzinga.
In his investment thesis, McClurg argues that persistent government borrowing, defense spending and the capital-intensive AI build-out could sustain upward pressure on long-term yields.
Why McClurg Is Watching BitcoinHigher interest rates can weigh on companies that rely on borrowing to fund operations and expansion. Meanwhile, rising yields can hurt existing bond prices, particularly those of longer-duration securities.
McClurg believes investors could look beyond these traditional investments toward assets that do not carry the same debt obligations.
His Bitcoin thesis also rests on global liquidity rather than a simple comparison with equities.
"Bitcoin has time periods correlated to equities, but most time periods are not. The greater correlation is to Global M2 money supply, which is currently growing at a 7% clip, and could grow more if central banks have to print their way out of debt," he said.
That distinction matters because higher interest rates do not automatically benefit Bitcoin. If tighter financial conditions strengthen the dollar, raise real yields or reduce investors’ appetite for risk, cryptocurrency prices could come under pressure even as government debt expands.
Bitcoin ETFs Offer a Regulated Investment RouteInvestors looking for exchange-traded exposure to Bitcoin could examine the iShares Bitcoin Trust ETF (NASDAQ:IBIT) and the Fidelity Wise Origin Bitcoin Fund (BATS:FBTC). Both seek to track Bitcoin’s price, allowing investors to gain exposure through brokerage accounts without directly managing cryptocurrency custody, and both carry a 0.25% sponsor fee.
Asked wthether he would rather own Bitcoin directly through a spot ETF or does he see a stronger opportunity elsewhere in the digital-asset ecosystem, if his higher-rate scenario plays out, he said that he prefers ETFs.
"ETFs generally charge no fees to trade with a $.01-.02 spread (2-4bps)," he said, contrasting them with exchange trading fees that he said could reach 40–150 basis points at Coinbase Global Inc (NASDAQ:COIN). Actual costs vary by platform, transaction size and market conditions, and ETF investors still pay fund expenses and bid-ask spreads.
The Liquidity QuestionMcClurg’s outlook ultimately depends partly on how global money supply evolves. If central banks expand liquidity to manage mounting debt burdens, Bitcoin could benefit under his thesis. But that outcome is not guaranteed, and Bitcoin remains a volatile asset rather than a dependable hedge against rising rates.
For ETF investors, the key question is whether expanding global liquidity can support Bitcoin even as higher Treasury yields make conventional income-producing investments more attractive.
On-chain burza perpetuálních futures Papertrade po spuštění zaznamenala během necelých 10 minut otevřený zájem v bitcoinových futures ve výši 3 miliard USD a objem obchodů 14,4 miliardy USD.
Papertrade, a fully on-chain perpetual futures exchange built on HyperEVM, went live on October 10, 2026. Bitcoin futures open interest on the platform climbed to $3 billion shortly after launch.
A fast start, measured in notional dollars Trading opened at 10 a.m. ET, or 14:00 UTC. In under 10 minutes, the exchange had recorded $14.4 billion in notional trading volume.
Ether futures open interest reached $2.66 billion, trailing Bitcoin’s $3 billion. Activity was concentrated almost entirely in those two markets.
Open interest is the total value of positions still open at a given moment. Volume counts every trade, including positions opened and closed seconds later. Both figures are notional, meaning they reflect the full size of leveraged bets rather than the cash traders actually posted.
That distinction matters a lot here. Papertrade offers leverage of up to 1,000x on its synthetic perpetual contracts.
At 1,000x, a trader can control $1,000 of exposure with $1 of margin. So billions in notional activity can rest on a far smaller pool of real deposits.
Before launch, the exchange collected pre-deposits estimated at approximately $85 million to $138 million. That money came from more than 11,000 addresses.
How the machine is built Papertrade does not use a traditional orderbook. Positions open and close atomically, in a single step, rather than being matched against resting orders from other traders.
Prices are pulled from the midpoint of Hyperliquid’s best bid and offer. The design aims to avoid slippage and conventional trading fees.
To handle expected launch-day congestion, initial trades were routed through Papertrade’s own frontend. Whitelisted relayers supported that flow.
Risk limits are built in. Each market side carries $1 billion in open-interest headroom, and individual positions are capped at $10 million in atomic size.
The house starts with nothing The most unusual feature sits on the other side of every trade. Papertrade’s house liquidity pool began empty.
That pool is meant to grow as traders lose money. Losing positions feed the house, and the house pays out winners.
The model therefore leans on trader losses or delayed settlement to fund payouts. Combined trader balances and house liquidity are not all available to pay winning trades.
The exchange also carries a profit haircut, or asymmetric profit-and-loss fee, inherited from earlier trading models. In plain terms, winners may not walk away with their full gross gain.
A token minted from losses Papertrade’s native token, PAPER, launched with no initial supply. It comes into existence only when traders realize losses.
While the liquidity pool holds less than $2 million, the protocol mints 100 PAPER for every $1 lost. That rate declines as the pool grows.
Transfers are restricted. Initially, PAPER can only be moved for staking.
What this means for traders and rival venues Papertrade runs on HyperEVM and prices off Hyperliquid, so it is effectively layering a new risk model on top of an existing market’s price discovery. Pricing is only as reliable as the reference market, and any disruption on Hyperliquid’s side could flow straight into Papertrade’s contracts.
The house liquidity pool starts at zero and is fine when traders lose on aggregate. A sharp, one-directional move in Bitcoin or Ether could flip that, with payouts depending on delayed settlement and the haircut mechanics.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Výzkumník Etherea Justin Drake varoval, že AI by v nejhorším případě mohla během několika měsíců prolomit matematiku a kryptografické podpisy chránící peněženky Bitcoinu i Etherea.
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This week, Ethereum researchers warned AI could break the signatures securing Bitcoin and Ethereum "in months, not years" in the worst case, well before quantum computers arrive.
This information didn't sit well with early Bitcoin pioneer and Blockstream CEO Adam Back, who criticized Ethereum's early design decisions in an X post.
Back was particularly critical of Ethereum's early developers, describing them as inexperienced, saying that they "reimplemented around an obviously broken architecture" despite warning attempts.
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The Blockstream CEO believes Bitcoin's pseudonymous creator Satoshi Nakamoto's choice of the Unspent Transaction Output (UTXO) model for the BTC network reflected a deeper understanding of distributed systems and peer-to-peer network design.
"It's almost like Satoshi knew something about distributed systems," Back said in support of Bitcoin's UTXO model.
@seal_kiman @UtxoSaint It's almost like Satoshi knew something about distributed systems (or network / p2p programming) as the UTXO model is well-designed for avoiding them. .eth's were young, naive, no experience/wisdom, reimplemented around an obviously broken architecture. Tried to warn them 🤷♂️
— Adam Back (@adam3us) October 10, 2026 UTXO in this context is short for "Unspent Transaction Output" model, which works like physical cash, where discrete coins or outputs are spent and new ones are created, used by blockchains such as Bitcoin and Cardano.
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Ethereum does not use UTXO but rather utilizes an account-based model (similar to a traditional bank ledger), where each user or smart contract has a persistent balance and state that updates directly with each transaction.
While Ethereum currently relies on accounts, ETH researchers have proposed experimental frameworks to introduce optional UTXO-style features, such as Ethereum Improvement Proposal EIP-8141, which introduces a new transaction type (0x06, or Frame Transactions) designed to achieve native account abstraction and post-quantum readiness.
What happened?Ethereum researcher Justin Drake, in an X post on Wednesday, told the crypto industry to start preparing for "bunker mode," warning that artificial intelligence could find a way to break the mathematics protecting Bitcoin and Ethereum wallets in the worst case "in months, not years."
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Accordingly, Drake urged large holders to begin a gradual move of their funds to fresh addresses.
Ethereum co-founder Vitalik Buterin weighed in on Drake's take, saying he wouldn't recommend anyone scramble to move their funds to new wallets at the moment, but added that the risk from AI-accelerated math remains something that should be taken seriously.
"I don't recommend anyone scramble to move their funds to new wallets today. But we should take the risks to cryptography from AI-accelerated math seriously, and minimize our exposure to not just quantum-vulnerable cryptography but also potentially AI-vulnerable cryptography," Buterin wrote on X.
Ledger vyšetřuje tvrzení o krádeži kryptoměn v hodnotě přesahující 86 milionů USD, která údajně souvisí se zařízeními zakoupenými od prodejce CryptoBilis. Důkazy o prolomení bezpečnosti všech zařízení Ledger zatím chybějí.
Kripto para piyasasında güvenlik endişelerini artıran yeni bir hack iddiası gündeme geldi. Dünyanın önde gelen donanım cüzdanı üreticilerinden Ledger, bazı kullanıcıların kripto varlıklarının çalındığına yönelik iddiaların ardından soruşturma başlattı. Zincir üstü araştırmalara göre toplam kaybın 86 milyon doları aşmış olabileceği belirtilirken, Binance kurucusu Changpeng Zhao (CZ) da yatırımcıları dikkatli olmaları konusunda uyardı.
86 Milyon Dolarlık Kripto Para Çalındı mı? Güneydoğu Asya’daki bazı Ledger kullanıcılarının kripto para varlıklarını kaybettiğine yönelik iddialar, sektörde büyük yankı uyandırdı. Zincir üstü araştırmacı Specter, Ethereum, TRON ve Bitcoin ağlarında yüzlerce cüzdandan şüpheli adreslere gerçekleştirilen transferleri takip ettiğini açıkladı. Specter’ın tahminlerine göre olayla bağlantılı toplam kayıp 86 milyon doların üzerine çıkmış olabilir. Ancak saldırıların hangi yöntemle gerçekleştirildiği henüz kesinleşmedi. Ledger cihazlarının temel güvenlik altyapısının doğrudan ele geçirildiğine ilişkin doğrulanmış bir kanıt bulunmadığı belirtiliyor.
İlginizi Çekebilir: Bitcoin’in Kaderi Bu Seviyeye Bağlı!
Ledger, güvenlik iddialarının CryptoBilis adlı satıcı üzerinden satın alınan cihazlarla bağlantılı olabileceğini değerlendiriyor. Şirket, soruşturma tamamlanana kadar ilgili satıcının satış ve sevkiyat faaliyetlerini durdurmasını istedi. Ayrıca son 90 gün içerisinde CryptoBilis üzerinden Ledger cihazı satın alan kullanıcıların cihazlarını henüz kurmamaları gerektiği bildirildi. Cihazlarını daha önce kullanmaya başlayan kişilere ise yeni bir kurtarma ifadesi oluşturarak varlıklarını güvenilir yeni bir Ledger cihazına taşımaları tavsiye edildi. Bu uyarılar, donanım cüzdanlarının güvenliğinin yalnızca yazılımsal korumaya değil, cihazların güvenilir kaynaklardan temin edilmesine de bağlı olduğunu yeniden gündeme taşıdı.
Binance Kurucusu CZ’den Ledger Açıklaması Binance’in kurucusu Changpeng Zhao (CZ), olayla ilgili ilk bulguların olası bir tedarik zinciri saldırısına işaret ettiğini belirtti. Zhao’ya göre bazı kullanıcılar, orijinal cihazlar yerine üzerinde değişiklik yapılmış veya sahte Ledger ürünleri satın almış olabilir.
CZ, Ledger’ın kripto para sektörünün en köklü donanım cüzdanı üreticilerinden biri olduğunu vurgularken, olayın şirketin tüm cihazlarının güvenliğinin ihlal edildiği anlamına gelmediğine dikkat çekti.
Zhao ayrıca BNB ekosistemindeki katılımcıların ve sektörün diğer aktörlerinin çalınan kripto varlıkların izlenmesi ve geri alınması konusunda destek sağlayabileceğini ifade etti.
Kripto Para Yatırımcılarını Nasıl Etkileyebilir? Ledger hakkındaki güvenlik iddiaları, kripto para yatırımcılarının donanım cüzdanı kullanırken dikkat etmesi gereken riskleri yeniden gündeme getirdi. Özellikle üçüncü taraf satıcılardan temin edilen cihazların güvenilirliği ve kurtarma ifadelerinin korunması kritik önem taşıyor. Genel değerlendirmede 86 milyon dolarlık kayıp iddiasının henüz kesinleşmemiş olması ve saldırı yönteminin tam olarak belirlenememesi, soruşturmanın sonuçlarını önemli hale getiriyor. Ledger’ın yapacağı yeni açıklamalar, olayın kapsamının netleşmesi ve etkilenen kullanıcıların belirlenmesi açısından yakından takip edilecek.
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Spoluzakladatel darknetového tržiště Empire Market Raheim Hamilton dostal trest 40 let vězení a bylo mu zabaveno přibližně 1 230 bitcoinů a 24,4 etheru.
Raheim Hamilton, the Virginia man who co-created and operated the dark web marketplace Empire Market, was sentenced to 40 years in federal prison and fined $5 million, the U.S. Department of Justice announced on October 7. As part of his guilty plea, Hamilton agreed to forfeit approximately 1,230 Bitcoin and 24.4 Ether, along with three properties in Virginia.
Hamilton, 30, of Suffolk, ran Empire Market from 2018 to 2020 alongside co-creator Thomas Pavey. The marketplace handled more than four million transactions worth over $430 million and generated nearly $375 million in net drug sales, according to the DOJ’s sentencing announcement.
A Crypto-Only Marketplace Built for Concealment Empire Market let buyers and sellers trade controlled substances, stolen account credentials, stolen personally identifying information, counterfeit currency, and computer-hacking tools. Court records cited roughly 13,314 grams of fentanyl, 446,683 grams of cocaine, 71,992 grams of methamphetamine, and 103,396 grams of heroin sold through the platform.
Every transaction on the site had to be settled in cryptocurrency. Hamilton and Pavey also encouraged users to run funds through tumbling and mixing services and to encrypt their communications, while letting vendors be rated on how well they concealed the drugs they shipped.
The Sentence and the Forfeiture U.S. District Judge Steven C. Seeger imposed the sentence on Monday, October 5, in Chicago. Hamilton had pleaded guilty earlier this year to a drug conspiracy charge. Pavey, 41, of Ormond Beach, Florida, pleaded guilty last year and agreed to forfeit roughly 1,584 Bitcoin, two boxes of 25-ounce gold bars, three automobiles, and two Florida properties; he is scheduled to be sentenced later this month.
The case follows a run of high-profile crypto-linked sentencings, including the 78-month term handed to the so-called “Crypto Godfather” Adam Iza and the industry ban imposed on Celsius founder Alex Mashinsky.
What the Forfeiture Signals The combined forfeiture of more than 2,800 Bitcoin between Hamilton and Pavey underscores how asset seizure now sits at the center of dark web prosecutions. The announcement was attributed to U.S. Attorney Andrew S. Boutros, the FBI, the U.S. Postal Inspection Service, and Homeland Security Investigations.
The case also highlights tumbling and mixing services as a recurring enforcement target, as investigators trace crypto-denominated drug proceeds across blockchains. The scale of any further seizures remains to be seen as Pavey’s sentencing approaches.
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BlackRock’s Bitcoin ETF clients added $22.38 million worth of Bitcoin, extending the fund’s pattern of steady, if uneven, demand.
Farside Investors data shows the iShares Bitcoin Trust (IBIT) recorded a net inflow of $22.4 million on October 9, 2026.
What happened at IBIT A net inflow is simple arithmetic. It is the money investors put into the fund minus the money they pulled out.
BlackRock does not keep that Bitcoin in its own vault. Custody of IBIT’s holdings sits with Coinbase Prime, the institutional arm of the US exchange.
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The October 9 inflow came during a choppy stretch for the fund. On October 7, IBIT saw a $207.7 million outflow, a far larger move in the opposite direction.
Earlier in October, the fund pulled in $195.6 million within the first week of the month.
Bitcoin’s price has recently hovered in a range between $78,700 and $85,000.
The biggest fund in the room IBIT is BlackRock’s flagship US spot Bitcoin ETF. A spot ETF holds the actual asset rather than futures contracts, so every share is backed by real Bitcoin.
The fund is the largest US spot Bitcoin ETF by assets under management, and leads the category in cumulative flows. Total inflows since launch have exceeded $65 billion.
Broader US spot Bitcoin ETF flows were mixed in early October 2026. IBIT often led inflows on positive days, while the category as a whole saw periods of net outflows.
In July 2026, BlackRock cut the minimum threshold for in-kind Bitcoin-to-IBIT conversions from $25 million to $1 million. An in-kind conversion lets an investor hand over Bitcoin directly in exchange for ETF shares, instead of selling coins for cash first. The program has processed over $5 billion in such swaps.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Bitcoin [BTC] recently faced a sharp rally. However, it’s now showing signs of a potential cooling period. This has happened because investors have started booking substantial profits, despite the price struggling to break past the resistance level.
According to Santiment, Bitcoin recorded roughly $1.03 billion in realized profits in a single day recently. This marked the second-highest profit-taking event of 2026, just below the year’s peak of $1.04 billion.
Source: Santiment However, while profit-taking is a normal part of market cycles, large-scale selling can increase short-term selling pressure and make it harder for Bitcoin to sustain its upward momentum.
This, because the price of Bitcoin is also facing selling pressure. At the time of writing, it was trading at $82,406.58 after falling by 4.5% in a week.
At the same time, the RSI was also in the healthy range, suggesting that bulls may be outpacing bears. Meanwhile, the parallely running Bollinger Bands suggested that BTC entered a steady state with the price moving in a structured channel.
Source: Trading View Can buyers save Bitcoin from falling into sellers’ hands? Needless to say, Bitcoin did face rejection around the $86,500-resistance level. This happened because of significant sell orders that prevented the price from moving higher.
Following this rejection, the world’s largest cryptocurrency moved south toward areas with significant buy orders. In fact, the largest concentration of these bids was reportedly hovering around $81,000.
Source: Glassnode So, given the case in point, if buyers absorb the available selling pressure, this zone could help stabilize the price and act as short-term support. However, if selling intensifies or buyers withdraw their orders, support is not guaranteed to hold.
Still, one thing is clear – Existing holders and investors who accumulated BTC earlier have played a significant role in supporting the rally.
Source: Glassnode However, the reported decline in fresh capital flowing through ETFs, stablecoins, and corporate treasuries may be evidence that new demand may be weakening.
Existing holders can sustain an advance for some time, but stronger inflows from new investors would provide additional buying power and make the rally more sustainable.
Is Bitcoin in a flux? Maybe, especially in the aftermath of BTC ETFs seeing outflows worth $409.71 million in October so far. This implied that maybe everything is not rosy yet.
Source: SoSo Value As it stands, Bitcoin is facing a critical test between profit-taking and fresh demand. The $81,000-zone could provide support, while resistance near $86,500 – $87,000 remains a hurdle.
Final Summary Bitcoin faced rejection around the $86,500-resistance level, where substantial sell orders prevented the price from moving higher. BTC ETFs have recorded outflows worth $409.71 million in October so far.
Realizovaná anualizovaná volatilita bitcoinu v roce 2026 klesla na 40–47 %, zatímco volatilita náhlých cenových skoků vzrostla o 71 % ve srovnání s prvním rokem fungování spotových ETF na bitcoin.
Bitcoin has never looked calmer on paper. Its annualized realized volatility has settled into a range of 40% to 47% in 2026, a sharp drop from historical averages above 80%.
The catch is that the calm average hides something stranger underneath. According to CoinDesk, extreme price swings are now happening more often than they did in 2018, one of the most chaotic years in the asset’s history.
The numbers behind the calm Realized volatility measures how much an asset’s price actually moved over a given period. Bitcoin’s version of that figure now sits between 40% and 47% on an annualized basis, compared to earlier market cycles that routinely produced volatility readings above 80%.
Implied volatility has followed the same downward path. That figure comes from options prices and reflects how much movement traders expect going forward. Both the backward-looking and forward-looking gauges have been trending lower heading into 2026.
Then there is the less comfortable statistic. Volatility tied to sudden price jumps has climbed by 71% compared to the first year of spot Bitcoin ETF trading. Those jumps are the tail events, the moves far outside a normal day’s range, and they are now landing more frequently than they did in 2018.
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A drawdown that broke the old pattern Bitcoin hit an all-time high around $126,200 in October 2025. From there, it slid to lows near $58,000 by mid-2026, a drawdown of approximately 53-54%.
Previous cycles saw the asset shed 70-82% after hitting a peak. As of early October 2026, Bitcoin was trading at roughly $85,000, leaving it about 32% below the prior year’s peak.
The staircase market The pattern now emerging has been described as staircase-style price action. Bitcoin climbs gradually, step by step, then drops abruptly when a correction hits.
That shape explains how average volatility and extreme swings can both move in opposite directions at once. Most days are quiet, which drags the average down. The sharp corrections, when they arrive, are concentrated and sudden, which pushes the tail-event count up.
The shift traces back to the post-2024 ETF era. Spot Bitcoin ETFs opened the door for institutional capital to flow into the asset through familiar brokerage accounts. Institutional participation has helped limit cascading liquidations, where leveraged positions get forcibly closed, triggering more selling and further forced closures. Fewer of those dominoes means shorter corrections and shallower overall drawdowns.
What this means for traders and investors For long-term investors, shallower drawdowns of around 53% compared to historical drops of 70-82% make Bitcoin easier to size into a diversified portfolio without one bad year sinking the whole strategy.
For active traders, low average volatility can encourage taking on more leverage, since daily swings feel manageable. When a tail event arrives, those positions are exactly the ones that get wiped out. The 71% rise in jump volatility since the first ETF year suggests that risk has grown, not shrunk.
If implied volatility keeps falling while sudden jumps keep rising, it could mean the market is underpricing the chance of a sharp move. Traders who sell options to collect premium in quiet conditions would be most exposed to that gap.
Buyers waiting for a classic 80% crash to load up may find this cycle does not deliver one. The drop from roughly $126,200 to near $58,000 shows the asset can still cut its value in half within months, but Bitcoin is spending more time behaving like a mature macro asset while its sharpest moments are arriving more often than in 2018.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Seth for Privacy varuje, že smíchání bitcoinů bez KYC s prostředky podléhajícími KYC v jedné transakci může okamžitě propojit dříve anonymní prostředky s identitou uživatele.
Just one transaction can compromise years of discreet Bitcoin activity, Cake Wallet’s chief operating officer has warned.
Speaking on the Bitcoin Rails podcast this week, activist Seth for Privacy talked about different ways of protecting one’s privacy when using Bitcoin and said that focusing on privacy was a must for the West.
Bitcoin privacy is a hot topic again ever since the developers of private coin mixer Samourai Wallet went on trial last year and were subsequently imprisoned.
But just this week, the U.S. Department of Treasury scrapped two long-stalled crypto surveillance proposals, handing a major win to privacy advocates and the digital asset industry.
“If you ever spend your no-KYC coins with one of your KYC coins — which if you just let the wallet do its thing, it could do because it doesn’t know the difference — you immediately connect all of the non-KYC Bitcoin that you spend in that with your identity,” Seth said, referring to UTXO management, also called “coin control” by some wallets.
Bitcoin wallets don’t hold a single balance but a collection of separate unspent transaction outputs — UTXOs — each one a discrete “coin” from a specific past transaction.
When you send a payment larger than any one UTXO, the wallet picks several and combines them as inputs to the same transaction — an easy mistake to make, Seth highlighted.
Seth added that unlike in the global South, where people have experienced more oppressive states, citizens in the West will need to “feel pain” in order to realize how important privacy is.
Still, he added that attitudes were changing and people were getting more serious about protecting their privacy.
“It has been shifting, in the last five or six years a lot of people — even in the West — are starting to think [privacy] really matters, we really need to think about this seriously now,” he said.
Cake Wallet is a privacy-oriented, self-custody, open-source wallet. The wallet earlier this year integrated Bitcoin’s Lightning Network into its platform.
Using the second layer solution is not only faster and cheaper, it also offers more privacy than Bitcoin’s main chain.
While Cake Wallet supports other cryptocurrencies, including privacy coin Monero, Seth for Privacy added that he’d love it if the digital coin didn’t exist.
“If Bitcoin’s privacy got good enough that you could use it and have at least almost as good privacy as Monero without massive hoops to jump through, and Monero ceased to exist, that’s fine,” he said.
“I would much rather the thing that more people use has better privacy than a more niche tool that has perfect privacy, and that’s something that less people are using because it’s less well known.”
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
Finanční výbor francouzského Národního shromáždění podpořil návrh rozpočtu na rok 2027, který by zdanil výměnu Bitcoinu za stablecoiny i bez převodu do fiat měn.
The French National Assembly Finance Committee has voted in favor of taxing Bitcoin-to-stablecoin swaps as part of the proposed 2027 budget. This amendment, yet to become law, would treat these swaps as taxable events, even if the conversion does not involve a direct cash-out to euros or other fiat currencies. The proposal marks a shift from the current system, which typically defers taxation on crypto-to-crypto exchanges until conversion into fiat currency. The move is seen as an effort to regulate the growing cryptocurrency market within France.
Market participants appear to interpret this development as introducing regulatory uncertainty, which is likely to have an impact on Bitcoin’s price outlook. Current pricing in prediction markets suggests a decrease in the perceived likelihood of Bitcoin reaching $200,000 by the end of 2026. The odds reflect a cautious stance among market participants, who are weighing the potential implications of this regulatory change on the broader cryptocurrency market.
Key Takeaways The French finance panel’s vote suggests potential regulatory changes, adding uncertainty to the crypto market. Pricing in prediction markets indicates a decrease in the likelihood of Bitcoin reaching $200,000 by year-end 2026. The proposed tax introduces a shift from previous deferral practices, potentially affecting investor sentiment. What to Watch Market observers will be monitoring the next steps in the French legislative process, as further parliamentary approval is required for the amendment to become law. Any developments that solidify or modify this proposal could influence market perceptions and pricing. Additionally, reactions from major market players and potential adjustments in international markets could further affect Bitcoin price predictions.
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Contract Odds Δ since publish Volume 24h December 31 0.7% — — View market → December 31 1.4% — — View market → December 31 2.1% — — View market → December 31 2.9% — — View market → December 31 6% — — View market → January 1 2027 27.5% — — View market → January 1 2027 4% — — View market → January 1 2027 0.9% — — View market → January 1 2027 1% — — View market → January 1 2027 1.2% — — View market → January 1 2027 2.8% — — View market → January 1 2027 4.4% — — View market → January 1 2027 11.5% — — View market → January 1 2027 10.5% — — View market → January 1 2027 1.9% — — View market → January 1 2027 0.5% — — View market → January 1 2027 0.7% — — View market → January 1 2027 7.5% — — View market → January 1 2027 3.6% — — View market → January 1 2027 1.6% — — View market → January 1 2027 1% — — View market → January 1 2027 0.5% — — View market → January 1 2027 0.5% — — View market → January 1 2027 0.5% — — View market → January 1 2027 0.2% — — View market → January 1 2027 39.5% — — View market → January 1 2027 37.5% — — View market → January 1 2027 20.5% — — View market →
U.S. Treasury Secretary Scott Bessent has said the American authorities will soon seize $1 billion in crypto from Iran.
Speaking on Newsmax’s NPolicy Summit in Washington, D.C. on Thursday, Bessent added that economic sanctions on the Middle Eastern country were working.
Iran has been using bitcoin — and other cryptocurrencies — to skirt around U.S. sanctions. The U.S. in April started targeting crypto wallets linked to the Iranian regime, Bessent said at the time.
“What we have done has never been seen before,” Bessent said Thursday on Iranian sanctions.
“We’re probably going to seize $1 billion of crypto this week,” he continued. “We know where it is. We are isolating them. We did have a maximum pressure campaign, now we have an absolute isolation campaign and it’s working.”
Bessent didn’t reveal what cryptocurrencies the U.S. will seize or how.
It would be very hard — if not impossible — for the U.S. to freeze Iran’s bitcoin unless it keeps it on a centralized exchange.
Bitcoin, being censorship resistant, cannot be frozen. But many other cryptocurrencies, including Tether’s USDT, can. Bessent previously said the feds had seized Iran’s crypto in the form of the popular stablecoin.
Iran started a bitcoin-backed insurance service for its counties shipping companies earlier this year.
The Financial Times last month reported that the Middle Eastern country was using bitcoin to settle cross-border transactions through Iranian crypto exchanges after the central bank advised its countrymen to do anything necessary to help the economy.
U.S. President Donald Trump revived his “maximum pressure” campaign weeks after returning to office. A national security memorandum signed in February 2025 put the Treasury on a sustained campaign against Iran’s shadow banking, money laundering and sanctions-evasion networks.
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
Bitcoinová životní pojišťovna Meanwhile získala 37,5 milionu USD v investičním kole vedeném Bain Capital Crypto; celkové financování tak překročilo 180 milionů USD.
Meanwhile, the first life insurer licensed to operate entirely in Bitcoin, has raised $37.5 million in new funding led by Bain Capital Crypto, according to the company’s announcement. The Bermuda-based insurer, which counts Sam Altman among its backers, said the round takes its total funding past $180 million as demand for Bitcoin-denominated life insurance grows among wealthy families outside the United States.
The round was led by Bain Capital Crypto, with participation from existing investors Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital. It follows a surge in international demand for the firm’s policies, particularly across Asia, Europe and the Middle East amid broader macro instability.
What the New Capital Backs Meanwhile plans to direct the funding toward its BTC Life 1-Pay policy, a single-premium whole life product built for high-net-worth clients outside the US that launched in early 2026. It is the company’s second product line after BTC 10-Pay, which is designed for US taxpayers. Since launch, Meanwhile has signed 15 brokers serving wealthy families, including in the insurance hubs of Singapore, Hong Kong, the UAE and Switzerland, with partners such as Lioner and Apeiron Group.
How Bitcoin Life Insurance Works A client pays one premium in Bitcoin and receives a guaranteed death benefit in Bitcoin for life. The policy’s value grows in Bitcoin, and after the first year the owner can borrow up to 90% of it with no repayment schedule and no margin calls. Policies can be owned by individuals, trusts or companies, making them a fit for estate planning as institutional adoption of Bitcoin broadens.
Meanwhile’s balance sheet, reserves and audited financial statements are all denominated in Bitcoin, and all policyholder Bitcoin is held with regulated institutional custodians. “Wealthy families around the world already hold Bitcoin. What they haven’t had is a regulated way to pass it on,” said Zac Townsend, co-founder and chief executive of Meanwhile.
What Happens Next The company said net long-term underwriting income has already passed last year’s total and is on track to more than double in 2026. Meanwhile Insurance Bitcoin (Bermuda) Limited holds the first Class IILT license granted by the Bermuda Monetary Authority, received in July 2024 after two years in the regulator’s sandbox. “Meanwhile owns every layer of a regulated life insurer and builds it like an AI-enabled startup,” said Stefan Cohen, a partner at Bain Capital Crypto. The raise also lands as institutional capital keeps flowing into Bitcoin products, from spot Bitcoin ETF inflows to new tokenized offerings.
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Thajská SEC od 16. října umožní domácím správcům aktiv spouštět ETF sledující bitcoin nebo ethereum. Fondy musí držet alespoň 80 % čisté hodnoty aktiv fondu v jednom z těchto aktiv.
Thailand’s Securities and Exchange Commission (SEC) has issued rules allowing local asset managers to launch exchange-traded funds tracking Bitcoin and Ethereum, clearing the way for the country’s first domestically listed crypto ETFs. The regulator’s announcement says the notifications take effect October 16.
The funds must be passive vehicles that track a single cryptocurrency and hold at least 80% of their net asset value in that asset over each accounting year. Bitcoin and Ethereum are the only eligible assets in the initial phase, and the funds can trade only on the Stock Exchange of Thailand.
What the New Rules Require Crypto ETF custodians must be digital asset custodians regulated by Thailand’s SEC. Asset managers seeking to launch a fund must show adequate organizational readiness, and they may outsource digital asset investment management only to licensed digital asset fund managers. Brokers cannot lend clients money to buy the funds, mirroring the existing ban on lending for direct crypto purchases.
Investors will have to acknowledge that they understand the product’s risks before trading, and securities firms must emphasize appropriate asset allocation. Digital asset custodians and other qualified operators can also register as mutual fund supervisors for crypto ETFs.
A New Route for Thai Investors The change gives Thai investors a domestic option instead of relying on foreign products or direct exchange trading. Until now, Thailand permitted only institutional and wealthy investors to buy foreign crypto ETFs. The SEC also amended its rules so mutual funds and private funds can invest in Thai crypto ETFs, an option previously limited to foreign funds.
The move extends a broader digital-asset policy push in Thailand, which has one of the world’s highest rates of crypto ownership per capita.
What Comes Next In the initial phase, the SEC will not allow depositary receipts referencing foreign crypto ETFs, or brokers to facilitate foreign-ETF purchases for non-institutional clients. The framework follows public hearings held between April and September, which the regulator said drew majority support.
The approval adds Thailand to a growing list of markets expanding crypto ETF offerings, though no fund has yet filed to launch and the first Thai Bitcoin or Ethereum ETF has no confirmed debut date.
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Blockchain analyst specializing in the regulatory impact of government policies on the crypto industry. Known for his thorough research and clear, engaging writing, Emmanuel provides insightful analysis on the latest trends, market shifts, and emerging crypto innovations. His work aims to educate and inform both novice and experienced readers, offering expert perspectives on the fast-evolving world of digital assets. With a passion for staying ahead of the curve, Ogwu is a trusted voice in the cryptocurrency and blockchain space.
Trader při jediném převodu přišel o 80 BTC v hodnotě přibližně 6,6 milionu USD z nové hardwarové peněženky Ledger. Arkham odhaduje celkové ztráty v důsledku incidentu na více než 80 milionů USD.
A crypto trader lost 80 Bitcoin (BTC), worth about $6.6 million, in a single transfer on Friday. The coins had sat for 10 days on a new Ledger hardware wallet, a device sold to keep crypto safe offline.
Blockchain tracker Lookonchain says he bought the device from CryptoBilis. Hours after the theft, Ledger told that Southeast Asian reseller to halt sales while it investigates lost funds.
How 80 Bitcoin Left a 10-Day-Old Ledger WalletLookonchain said the trader bought the coins about four months ago at roughly $65,000 each. That came to around $5.2 million.
Public Bitcoin records on mempool show all 80 BTC reached his wallet on September 29. They left in one transfer at 05:54 UTC on October 9.
With Bitcoin price trading above $83,000, Lookonchain put his paper profit at $1.38 million before the coins disappeared.
The same block of transactions carried at least six other large transfers into addresses that blockchain analysts link to the drain.
How Big the Ledger Drain Is, and What Ledger Has SaidLedger has paused the reseller’s sales and told recent buyers not to set up their devices. It has not said whether any devices were tampered with.
Estimates of the total keep rising. Blockchain analytics firm Arkham put losses above $80 million and said the cause is unconfirmed.
MistTrack, the tracking service of security firm SlowMist, offered a higher figure, possibly reaching $90 million. MistTrack also said Tether, which issues the USDT dollar-pegged stablecoin, froze USDT at addresses linked to the theft.
Tether can block its tokens from moving.
Hardware wallet makers have faced repeated scares this year. In August, a Coldcard firmware bug let thieves drain about $70 million in Bitcoin. Ledger said it will share updates as its investigation progresses.
Bitcoin rebounded above $82,000 on Friday, October 9, recovering from a 24-hour low near $80,496 after President Donald Trump said the United States would not strike Iran before the November 3 midterm elections. BTC traded around $82,488 at the time of writing, down about 0.6% over 24 hours with a market cap near $1.66 trillion, according to CoinDesk market data.
Trump made the pledge in a Truth Social post published at 12:17 p.m. ET on Thursday, describing talks with Iran as “productive” while insisting the U.S. blockade would “remain in full force and effect.” The statement removed the immediate threat of renewed military escalation that had lifted WTI crude from roughly $89 toward $93.20 a barrel and pushed bitcoin toward $80,300.
Why Bitcoin Rebounded Above $82,000 The turnaround followed about 24 hours of selling that began after reports that the Pentagon had instructed U.S. Central Command to prepare for resuming major combat operations in Iran. Those reports lifted oil and pressured risk assets, and bitcoin’s decline accelerated as leveraged long positions were flushed across the market, with more than $356 million in ether positions liquidated over 24 hours.
Selling ran out of steam near $80,300 once Trump’s post landed, and bitcoin steadily climbed back through $82,000. Ether, XRP and solana trimmed their losses alongside it, though the recovery stayed modest: bitcoin remained down about 2.4% over seven days and 5.8% year to date at the time of writing.
The oil reversal followed the same script. After rising from $89 toward $93.20, WTI crude fell back to roughly $90.69 a barrel, easing one of the clearest macro headwinds behind Thursday’s crypto sell-off.
Bitcoin Price Today: Key Levels to Watch Analysts are treating $81,000 as immediate support and $82,000 as the first resistance to reclaim. Giottus CEO Vikram Subburaj told CoinDesk that a break below $81,000 could send bitcoin toward $80,000 and then the more significant on-chain support near $77,200, while a recovery above $83,300 and then $85,500 would need stronger ETF inflows. BitDelta’s Purvang Mashru called $82,000 the key resistance, adding that a sustained reclaim with ether above $2,500 would stabilize the setup, whereas a break below $80,316 would raise downside risk.
Bitcoin’s 24-hour range spanned roughly $80,496 to $83,150, leaving the rebound short of reclaiming Thursday’s levels and keeping traders in a wait-and-see posture ahead of the midterm election.
Bitcoin had already slipped below $83,000 on Thursday as multi-decade-high Treasury yields, oil above $100 and spot ETF outflows converged, leaving the market exposed to the Iran headline before Friday’s rebound.
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The Bunker Mode Fears That Amplified the Drop A second, more technical concern compounded Thursday’s selling. Ethereum Foundation researcher Justin Drake had floated a “bunker mode” idea — a precautionary migration of crypto holdings to fresh addresses — if AI-accelerated mathematics were to weaken the elliptic-curve cryptography securing Bitcoin and Ethereum. The AI-signature warning drew sharp pushback: Coinbase’s top cryptographer Yehuda Lindell called the concerns “FUD,” Dragonfly’s Haseeb Qureshi described them as a “very sober call,” and Ethereum co-founder Vitalik Buterin said the risk is real but pointed to lattices rather than elliptic curves.
For now, the market’s recovery suggests traders treated Trump’s Iran statement as the more immediate catalyst, with the cryptography debate unresolved but not yet priced as an imminent threat.
Frequently Asked Questions What is the Bitcoin price today? Bitcoin traded near $82,488 on October 9, 2026, down about 0.6% over 24 hours, after rebounding from a session low near $80,496.
Why did Bitcoin rebound on October 9? President Donald Trump said the U.S. would not strike Iran before the November 3 midterm elections, easing geopolitical fears that had pushed oil higher and risk assets lower.
What is Bitcoin’s support level right now? Analysts are watching $81,000 as immediate support, with a break below roughly $80,300 potentially opening the path toward $80,000 and the on-chain support near $77,200.
What is Bitcoin’s resistance level right now? $82,000 is the first resistance to reclaim. A sustained move above it with ether above $2,500 and narrower altcoin losses would stabilize the setup, according to analysts.
Could Bitcoin fall again below $80,000? A break below $81,000 could take bitcoin toward $80,000, and a drop below $80,316 would increase downside risk, though Friday’s rebound has so far held above those levels.
Bitcoin price data and analyst commentary are sourced from CoinDesk as of October 9, 2026.
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Vesu na síti Starknet odměňuje dlužníky tokeny STRK za půjčky stablecoinů zajištěné tokenizovaným Bitcoinem, takže čistá roční procentní sazba (APR) přes Sats Terminal může klesnout k nule nebo do záporných hodnot.
Borrowing money usually costs money. On Starknet, borrowers are now being paid to do it, at least partially.
Vesu, a lending protocol on Starknet, lets users borrow against BTC and earn STRK rewards on those loans. The rewards for borrowers were announced on October 8, 2026. They are meant to lower the net cost of borrowing for users who come in through the Sats Terminal frontend.
How the Vesu rewards work Vesu operates as a modular, permissionless lending market. Its pools can be set up for different assets and risk profiles instead of everything sharing one giant bucket.
The tokens eligible for both collateral and rewards are WBTC, LBTC, SolvBTC, tBTC, and strkBTC. Each one is a tokenized version of Bitcoin, which is how BTC shows up on networks it was never built to run on.
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Borrowers who take out stablecoins against that BTC collateral can claim STRK rewards every week.
Sats Terminal is the user-facing layer. It gives borrowers a simpler interface for setting up BTC-backed loans. During reward periods, loans taken through Sats Terminal can carry effective net APRs that sit near zero or even dip into negative territory.
If the STRK a borrower collects is worth more than the interest they owe, the loan effectively pays them. The rewards arrive in STRK, so their actual value depends on what the token is worth when a borrower claims it.
The 100 million STRK backdrop The Starknet Foundation has set aside 100 million STRK for its BTCFi Season program, which is built to encourage onchain Bitcoin activity, borrowing included.
Vesu V2 launched around October 2025, adding curated pools for BTC collateral and expanding the lending capacity available to Starknet’s BTCFi users.
What this means for borrowers and Starknet For borrowers, the cost math is the obvious draw. A loan with a near-zero or negative net rate is unusual in almost any market.
It is also subsidized, and subsidies are temporary by design. The cheap borrowing window lasts only as long as the reward periods run and the STRK keeps flowing.
Reward value is the other moving piece. A negative net APR calculated today is only as good as STRK’s value on claim day, which makes the headline rate a snapshot rather than a guarantee.
The near-term signals to watch are straightforward. Watch whether Vesu’s volumes and total value locked climb during the reward periods, how quickly the 100 million STRK allocation is put to work, and whether borrowing activity holds up when the incentives eventually wind down.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
MARA Holdings has transferred 996 Bitcoin worth approximately $81.13 million to a wallet identified as belonging to Galaxy Digital. The transfer comes as MARA shifts more of its business toward artificial intelligence (AI) and high-performance computing.
Meanwhile, Bitcoin fell close to $81,000, pushing total crypto liquidations above $1 billion.
MARA Moves 996 BTC to Galaxy DigitalBlockchain tracking platform Lookonchain flagged the transfer on Friday, October 9, 2026. The transaction involved 996 BTC worth $81.13 million, but it remains unclear whether MARA sold the Bitcoin or moved it for another purpose.
According to Bitcoin Treasuries data, MARA’s Bitcoin holdings fell from 53,822 BTC in February to 35,577 BTC in August. This shows how much the company’s reserves have declined in recent months.
In March, MARA sold 15,133 BTC for about $1.1 billion. The company used the proceeds mainly to buy back more than $1 billion in convertible debt at a discount, reducing its debt and potential future share dilution
The company has been selling Bitcoin to reduce debt and fund its move beyond cryptocurrency mining.
MARA Sells Bitcoin to Fund AI ExpansionMARA is also moving beyond its traditional Bitcoin mining business. The company is expanding into AI computing and data center infrastructure, where it can provide computing power for businesses.
In February, MARA announced a partnership with Starwood Capital Group to develop digital infrastructure sites for data centers and AI customers. The plan included about 1 gigawatt of near-term IT capacity, with the potential to expand further.
The latest transfer could fit this broader treasury strategy, although it does not confirm another sale.
Bitcoin Nears $81K as Liquidations Top $1 BillionThe transfer comes as the crypto market faces renewed selling pressure. Bitcoin fell close to $81,000, triggering heavy losses across the market. Over the past 24 hours, total liquidations reached $1.03 billion, affecting 174,088 traders.
The sell-off also hit U.S. spot Bitcoin ETFs, which recorded $484.9 million in outflows on October 7, followed by another $244 million on October 8.
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Americké spotové ETF na Bitcoin a Ethereum zaznamenaly 8. října čistý jednodenní odliv ve výši 316,6 milionu USD, z čehož 244,1 milionu USD připadlo na Bitcoin.
US spot Bitcoin and Ethereum exchange-traded funds (ETFs) continued to see significant investor withdrawals on October 8, as the broader cryptocurrency market faced mounting pressure.
Bitcoin and Ethereum ETF outflows accelerateFarside Investors reported that Bitcoin ETFs recorded $244.1 million in net outflows during the most recent trading session, while Ethereum ETFs experienced $72.5 million in withdrawals. Together, the two asset classes lost a combined total of $316.6 million in a single day.
This heightened pace of outflows has led some market analysts to question whether the historically bullish trend known as “Uptober” will hold true in 2024. Traditionally, October has brought gains for major cryptocurrencies, but this year, persistent ETF withdrawals suggest a more cautious approach by institutional investors.
In the first six trading sessions of October, Bitcoin ETFs saw cumulative net outflows exceeding $820 million, with the pace of withdrawals increasing throughout the second week. The single largest daily withdrawal occurred on October 7, when investors pulled $484.9 million out of Bitcoin ETFs.
On October 8, Bitcoin ETFs recorded $244.1 million in outflows, following $484.9 million withdrawn in the prior session, underlining the recent surge in investor caution.
Among major ETF providers, BlackRock’s iShares Bitcoin Trust (IBIT) posted $5.5 million in withdrawals, while Fidelity’s Wise Origin Bitcoin Fund (FBTC), lost $197.1 million. Other notable funds, Bitwise’s BITB and Ark Invest’s ARKB, recorded $17.7 million and $20.3 million in outflows, respectively. One exception was Franklin Templeton’s OnChain US Bitcoin ETF (EZBC), which attracted $4.7 million in net inflows.
ETFNet Flow (Oct. 8)IBIT (BlackRock)-$5.5 millionFBTC (Fidelity)-$197.1 millionBITB (Bitwise)-$17.7 millionARKB (Ark Invest)-$20.3 millionEZBC (Franklin Templeton)+$4.7 millionMini dictionary: Franklin Templeton is a major US-based asset management company with over $1 trillion in assets under management, known for offering a wide range of investment products, including ETFs.
Ethereum ETFs mirror Bitcoin’s lossesEthereum ETFs have also experienced heavy redemptions in October, with total outflows exceeding $600 million as of October 8. The largest single-day withdrawal for Ethereum ETFs was recorded on October 6, when $201.9 million exited, followed by $160.9 million on October 7.
On October 8, BlackRock’s iShares Ethereum Trust (ETHA) reported $71.1 million in withdrawals, while Fidelity’s FETH saw $5.5 million in new investments. Grayscale’s ETHE, another major Ethereum product, posted $6.1 million in outflows.
ETFNet Flow (Oct. 8)ETHA (BlackRock)-$71.1 millionFETH (Fidelity)+$5.5 millionETHE (Grayscale)-$6.1 millionThe latest ETF withdrawals coincided with a wider selloff in cryptocurrency markets. Over the past 24 hours, Bitcoin slid roughly 0.44%, changing hands at around $62,660 on October 8. Ethereum traded close to $2,500 as risk-averse investors reduced exposure to major digital assets.
Market volatility and liquidationsThe downturn in prices contributed to significant liquidations among leveraged traders. In the past 24 hours, approximately $1.19 billion in cryptocurrency positions were liquidated, including $356 million in Ethereum and $298 million in Bitcoin trades.
Sharp outflows from Bitcoin and Ethereum ETFs reflect a shift in market sentiment, which also triggered over $1 billion in leveraged crypto liquidations within a single day.
These developments together highlight increasing caution in the market, amid investor wariness regarding possible short-term downturns in digital asset prices.
Fidelity během posledních 20 obchodních dnů nakoupila prostřednictvím svých ETF kryptoměny za více než 438,9 milionu USD, včetně BTC v hodnotě 354,1 milionu USD.
Renowned crypto investment firm Fidelity has continued to expand its crypto portfolio, adding more Bitcoin amid growing demand for its ETF product.
Apart from its Bitcoin fund, the firm also issues both Ethereum and Solana ETFs, and it has recorded modest purchases for both over the same period.
Fidelity buys $354 million of Bitcoin Latest onchain data from Arkham Intelligence shows that Fidelity has purchased a total of $438.9 million worth of Bitcoin, Ethereum, and Solana through its ETF products over the past 20 trading days.
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While this signals continued buying activity across the three major crypto assets, it shows that the firm has seen sustained demand for nearly all its crypto ETF offerings, especially Bitcoin.
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Nonetheless, the data shows that the firm saw more demand for its Bitcoin product, as the Fidelity spot Bitcoin ETF recorded the largest purchases.
As such, FBTC has accumulated up to $354.1 million worth of BTC over the stated period. Meanwhile, it acquired only lesser amounts of ETH and SOL.
More specifically, Fidelity has bought $66.6 million worth of Ethereum and another $18.2 million worth of Solana over the same period.
Bitcoin loses momentum While the massive Bitcoin purchase from Fidelity signals sustained institutional demand for the leading crypto asset over the past week, Bitcoin has suddenly witnessed a sharp price reversal.
Retracing from a high of around $87,000 back to its multi-week low of around $81,000, Bitcoin appears to be facing increased sell-off pressure from traders, especially retail traders.
With momentum on the leading asset currently down, it remains uncertain whether Fidelity and other major Bitcoin funds will be able to sustain their Bitcoin buying spree for much longer.
Sui spustí institucionální protokol Hashi pro úvěry zajištěné Bitcoinem, aniž by bylo nutné přesouvat BTC z jeho sítě; projekt má kapitálové závazky ve výši 500 milionů USD od více než 20 partnerů.
New bitcoin lending system is set to debut. (Shubham Dhage/Unsplash)Summary
Layer-1 blockchain Sui is launching Hashi, an institutional protocol allowing holders to use Bitcoin as collateral without moving it off the Bitcoin network.The system is debuting with $500 million in capital commitments from a coalition of over 20 industry partners to ensure deep day-one liquidity.Hashi’s mainnet will roll out in phases, targeting a massive pool of roughly $1 trillion in dormant, institutional Bitcoin.Bitcoin BTC$82,582.92-backed finance is about to get a massive, well-funded liquidity boost.
Layer-1 blockchain Sui is set to launch Hashi, a new institutional network that allows holders to use Bitcoin as collateral for lending without moving it off the Bitcoin ledger. The mainnet is slated to roll out in phases later this month.
To back the ecosystem, the initiative has already secured $500 million in capital commitments from a coalition of over 20 industry partners.
While these are commitments rather than immediate deposits, the pre-pledged capital ensures that when the system debuts, markets can open with deep liquidity instead of starting empty.
“Hashi is launching with serious capital and a coalition of industry leaders because institutions want to put Bitcoin to work without giving up the protections they require,” Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs, the original creator of Sui, said in an official announcement.
The primary target for this capital is a massive pool of dormant wealth. Sui estimates that roughly $1 trillion worth of Bitcoin is currently sitting idle. Until now, institutional and corporate balance-sheet holders have lacked a compliant, transparent ecosystem to safely deploy their native Bitcoin in decentralized finance (DeFi).
This launch comes amid a broader shift in Bitcoin-backed finance, where borrowing is moving far beyond speculative crypto trading. Bitcoin holders now use bitcoin-collateralized loans to cover real-world expenses like university tuition, real estate acquisitions, and corporate working capital.
"Public companies and institutions hold enormous amounts of Bitcoin, but their ability to use that capital has been constrained by the technology available to them," said Nathan McCauley, CEO and co-founder of Anchorage Digital, a day-one launch partner that also plans to supply stablecoin liquidity to the network.
"Connecting our institutional clients with Hashi represents a complete paradigm shift,” McCauley added.
Here’s how the system overcomes these institutional constraints. Instead of bridging across blockchains, users securely lock their BTC in a vault address directly on the Bitcoin blockchain. A 2-of-2 multisig secures this address, requiring cryptographic sign-off from both Hashi’s validators. Hashi also has a separate, independent guardian layer designed to monitor and slow suspicious collateral movements.
While the real bitcoin stays safely frozen on the Bitcoin network, Hashi mints hBTC, a digital voucher token on Sui, backed directly by that deposit. This is where the lending action begins. Apps on Sui can use these hBTC vouchers to fuel lending, borrowing, credit markets, and real-world asset trading. When a user wants to exit, the hBTC voucher is permanently burned on Sui, which triggers the multisig to safely unlock and release the original bitcoin back to the user on the Bitcoin network.
To meet strict institutional compliance and security standards, Hashi has undergone rigorous vetting. Security firm Certora formally verified Hashi's smart contracts, while another firm, CommonPrefix, reviewed the cryptography of its multi-party computation (MPC) protocol.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Sep 15, 2026
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Glassnode označil pásmo 81 000–81 250 USD za největší zónu nákupního zájmu pod aktuální cenou Bitcoinu; v rozmezí 81 700 až 83 300 USD se zároveň soustřeďují potenciální likvidace long pozic.
Bitcoin 85.000 doların altına yeniden geriledi ve fiyat 83.000 dolar bölgesine çekildi. Glassnode verileri, son yükselişin düşük işlem hacmiyle geldiğini ve piyasaya yeni para girişinin sınırlı kaldığını gösteriyor. Santiment ise borsalardan son aylardaki en yüksek Bitcoin çıkışlarından birini kaydetti.
Bu iki veri seti farklı sinyaller veriyor. Glassnode, 81.000 doları aşağıdaki en önemli alım bölgesi olarak izlerken, borsa çıkışları satış için hazır Bitcoin miktarının azaldığına işaret ediyor.
Bitcoin Neden 85.000 Doların Altına Geriledi? Bitcoin, 85.000 doların üzerinde günlük kapanış yaptıktan yalnızca birkaç gün sonra bu seviyenin altına indi. Glassnode, hareketin düşük hacimle gerçekleştiğini belirtiyor.
Spot ve ETF işlemlerindeki toplam hacim, yedi günlük ortalamada günlük yaklaşık 6,8 milyar dolar seviyesinde kaldı. Bu rakam, Ocak 2024’ten bu yana görülen günlerin 10’da 9’undaki seviyeden daha düşük.
ABD tarafındaki talep de güçlü görünmüyor. Coinbase Premium Endeksi -0,056 seviyesinde. Bu gösterge Bitcoin’in Coinbase’de Binance’e kıyasla daha düşük fiyattan işlem gördüğünü ifade ediyor. Endeks eylül başından bu yana sıfırın altında kalıyor.
Yeni sermaye girişi de yükselişin gerisinde kaldı. ETF akışları, stablecoin büyümesi ve şirketlerin Bitcoin alımları 5 Ekim’e kadar geçen 30 günde yaklaşık 4,9 milyar dolar yeni para getirdi.
Aynı dönemde Bitcoin’in Realized Cap değeri yaklaşık 12,8 milyar dolar arttı. Glassnode, yeni paranın bu artışın beşte ikisinden daha azını karşıladığını hesapladı.
Bu fark önemli. Realized Cap yükselirken piyasaya giren yeni para sınırlı kalıyorsa, hareketin büyük bölümünü zaten piyasada bulunan yatırımcıların daha yüksek fiyatlardan yaptığı işlemler oluşturuyor.
Glassnode’a göre 2024 ve 2025 rallilerinde de benzer bir yapı görüldü ancak o dönemlerde yeni para girişleri çok daha büyüktü.
Bitcoin’i Kim Satıyor? Bitcoin’in 4 Ekim’de 85.000 doların üzerinde ilk günlük kapanışını yapmasının ardından bazı yatırımcılar satışa geçti. O gün borsalara giren Bitcoinlerin yaklaşık %86’sı 155 günden kısa süredir tutulan coinlerden oluştu.
Glassnode, son bir yılda hiçbir günde bu kadar yüksek bir orana ulaşılmadığını belirtiyor. Bu durum, son dönemde BTC alan yatırımcıların fiyat yükselince kâr alma eğiliminin arttığını gösteriyor.
Vadeli işlemlerde de iştah azaldı. Analist MAC_D’nin verilerine göre Bitcoin açık pozisyonları 22 Eylül’den bu yana yaklaşık %10 düşerek 28,8 milyar dolardan 26 milyar dolara geriledi.
Buna karşılık Santiment’in borsa verileri farklı bir tablo ortaya koyuyor. Platform, 5 Ekim’de borsalardan 24.073 BTC net çıkışı kaydetti. Bu, 1 Mart’tan bu yana görülen en yüksek günlük net çıkış oldu.
Borsalarda tutulan Bitcoin’in toplam arzdaki payı da yaklaşık %6,50’ye geriledi. Santiment bunu yükseliş açısından olumlu değerlendiriyor çünkü borsalarda daha az Bitcoin bulunması, hemen satışa gelebilecek arzın azalması anlamına geliyor.
Dolayısıyla piyasada iki ayrı hareket aynı anda yaşanıyor: Kısa vadeli yatırımcılar yükselişlerde satış yaparken, Bitcoin’in bir bölümü borsalardan çekilmeye devam ediyor.
81.000 Dolar Seviyesi Bitcoin İçin Tutunma Noktası Olabilir mi? Glassnode’un 7 Ekim’e kadar olan Binance emir defteri verilerinde 81.000-81.250 dolar aralığı aşağıdaki en büyük alış bölgesi olarak öne çıkıyor. Bu emirler 3 Ekim’den bu yana piyasada bulunuyor.
Fiyatın hemen altında başka bir risk daha var. 81.700-83.300 dolar arasında yoğun bir tasfiye kümesi bulunuyor. Bitcoin bu bölgeye gerilerse kaldıraçlı long pozisyonların zorunlu kapanışları düşüşü hızlandırabilir.
Bir sonraki tasfiye kümesi ise yaklaşık 75.000 dolarda.
Yukarıda ise önce 85.500 dolar izleniyor. Glassnode’a göre bu seviyenin üzerinde gerçekleşecek bir günlük kapanış, Bitcoin’in hafta içinde kaybettiği bölgeyi yeniden kazanmasını sağlayabilir.
Ardından 86.500-86.750 dolar arasında yoğun satış emirleri bulunuyor. Bunun üzerinde ise 87.100-95.900 dolar arasında short tasfiye bölgesi yer alıyor. En yoğun alan yaklaşık 92.000 dolar civarında.
Bitcoin bu seviyelerin üzerine çıkarsa short pozisyonların kapanması yükselişi hızlandırabilir. Aşağıda ise 81.000 dolar civarındaki alışların fiyatı taşıyıp taşıyamayacağı daha önemli hale geliyor.
Bir sonraki büyük makro gelişme 14 Ekim’de açıklanacak ABD TÜFE verisi olacak. Fed ise 27-28 Ekim’de toplanacak. Bu tarihlere kadar tahvil getirileri, ETF akışları ve Bitcoin’in 81.000-85.500 dolar arasındaki hareketi piyasanın yön arayışında belirleyici olabilir.
Bu içerik genel piyasa verilerine dayanır ve yatırım tavsiyesi değildir. Kendi araştırmanızı yapmanızı öneririz.
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Strategy zveřejní výsledky za třetí čtvrtletí 2026 po uzavření amerických trhů 29. října; zároveň poskytne aktuální informace o svých bitcoinových rezervách a jejich financování.
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TL;DR: Strategy will report third-quarter 2026 results after US markets close on October 29 and hold a live webinar at 5 p.m. Eastern Time. The update will give investors the next full financial snapshot of the world’s largest corporate Bitcoin treasury.
The most closely watched corporate Bitcoin balance sheet has a date for its next full update.
Strategy said Thursday that it will report third-quarter 2026 financial results after US markets close on October 29, followed by a live video webinar at 5 p.m. Eastern Time.
Ordinarily, an earnings date is routine corporate housekeeping.
Strategy is no longer an ordinary corporate earnings story.
The company has built its identity around holding and financing Bitcoin at a scale no other listed operating company has matched. Its quarterly results now function as a window into how the corporate Bitcoin treasury model behaves through different market conditions.
Investors will be watching several things.
The obvious one is the size and value of Strategy‘s BTC position at the end of the quarter.
But the more important questions increasingly sit around the financing machinery used to build that position.
Strategy has used common equity, convertible debt and several classes of preferred securities to raise capital for Bitcoin purchases. That means its results are as much about capital structure as they are about the price of BTC.
The company has also promoted metrics intended to show whether its Bitcoin holdings are growing faster than the dilution required to finance them.
Those measures have become a central part of management’s argument that Strategy is not simply a passive holding vehicle.
October’s results will therefore give investors a chance to assess how the model performed during a quarter in which Bitcoin prices, funding conditions and institutional flows all moved considerably.
The call also matters beyond Strategy shareholders.
A growing number of public companies have copied parts of the Bitcoin treasury approach, often with much smaller balance sheets and less access to capital.
Strategy remains the benchmark against which those businesses are compared.
When its premium to underlying Bitcoin holdings expands, the company can often raise capital more efficiently. When that premium contracts, the economics become more challenging.
That feedback loop is one reason the quarterly balance sheet matters so much.
Michael Saylor‘s company has spent years arguing that Bitcoin can be used as the primary treasury reserve asset of a public corporation.
The market has largely moved past debating whether Strategy itself is committed to that idea.
The question is how the financial structure performs over time.
October 29 will provide the next detailed answer.
Strategy said a replay of the webinar will be available through its investor relations site shortly after the event.
For Bitcoin investors, it will be one of the few corporate earnings calls where the underlying cryptocurrency is likely to matter as much as the operating business.
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Bitcoin software company Breez reported a sharp increase in demand for its developer tools following the mainstream adoption of AI coding agents, with partnership inquiries rising approximately 14 times their previous level. Breez highlighted that this demand has accelerated as both human developers and AI agents seek to integrate bitcoin payments into a broad range of applications.
AI agents reshape developer landscapeThe company linked this spike in interest to the release of Claude Code, an AI code generation tool launched by Anthropic in early 2025. Initially rolled out as a research preview and then made widely available three months later, Claude Code has enabled both experienced and novice developers to incorporate bitcoin functionality more easily into products and services.
Prior to the launch of Claude Code, Breez noted that its typical partners were predominantly established bitcoin advocates, cryptocurrency developers, or fintech firms focused on digital assets. However, the recent wave of requests originates from a more diverse set of sectors, including fitness and travel apps, messaging platforms looking to enable peer-to-peer payments, and even a project focused on mushroom identification.
Breez described how many newcomers are attracted by the speed of bitcoin integration. Unlike traditional payment systems—which can require lengthy onboarding, bank setup, and regulatory procedures—Breez claims that developers can implement its software development kit (SDK) for bitcoin payments in just minutes.
Breez stated, “Bitcoin is agnostic about whether the code of its current owner and user is composed of DNA base pairs or weights in a neural net.”
A notable trend identified by Breez is the rising proportion of requests initiated directly by AI coding agents, which develop apps and seek payment integration on behalf of companies. The company explained that these agents prefer bitcoin due to its permissionless nature, enabling global app deployment without the barriers of traditional finance, such as opening a bank account or undergoing compliance checks.
Breez is a technology firm specializing in SDKs that allow developers to add bitcoin payments to their applications, with a focus on fast integration and user-friendly solutions.
Mini dictionary: Claude Code: A specialized AI coding agent developed by Anthropic, designed to generate, audit, and integrate code into a wide range of applications. Its widespread adoption since 2025 has enabled automation of complex software development tasks, including the integration of cryptocurrency payment systems.
Potential regulatory scrutinyAlthough this shift in the software development landscape has increased the accessibility of bitcoin payments, regulatory authorities have long voiced concerns regarding the lack of identity verification in permissionless systems. Financial regulators continue to emphasize the importance of customer verification in traditional payment systems, an area where bitcoin payment platforms operate differently.
Breez addressed the technical challenge of handling increased volume by highlighting its newest SDK, which leverages Spark, a scaling protocol aimed at facilitating higher transaction throughput on the Bitcoin network. The company reported that this implementation accommodated the recent influx of integration requests smoothly.
Mini dictionary: Spark: A protocol designed to scale the Bitcoin network by increasing transaction capacity and enabling more efficient, fast payment processing within bitcoin-integrated applications.
Broader industry implicationsBreez characterized this transition as an evolution of investor Marc Andreessen’s 2011 thesis that software would come to dominate traditional industries. According to the company, AI-driven software agents are now at the forefront, using bitcoin as a foundational infrastructure element comparable to electric sockets or subsea cables. This development could signal a new phase for digital payment adoption across multiple industries.
AspectBefore Claude Code (2024)After Claude Code (2025)Primary developersBitcoin/crypto enthusiasts, fintech firmsGeneral app developers, AI agentsTypical sectorsFinance, crypto-focused appsFitness, messaging, travel, specialty appsIntegration timeframeWeeks or monthsMinutes with Breez SDKNature of requestsMainly human-initiatedSignificant share from AI agents
Výzkumník z Ethereum Foundation Justin Drake vyzval k postupnému přesunu kryptoměn na nové adresy s nezveřejněným veřejným klíčem kvůli možnému prolomení ECDSA.
OpenAI’s recent release of hundreds of machine-generated mathematical results has prompted a senior blockchain researcher to urge the industry toward a cautious defensive posture.
On October 7, 2026, Justin Drake, a researcher associated with the Ethereum Foundation whose work also addresses Bitcoin security assumptions, publicly called on holders and institutions to begin planning what he termed “bunker mode.”
The trigger was OpenAI’s October 6 publication of a large batch of findings produced by an internal frontier model.
Reporting on the release described roughly 722 manuscripts spanning about 372 families of results, covering areas such as number theory, geometry, combinatorics, and theoretical computer science.
OpenAI indicated that the model had been evaluated on thousands of problems, that many proofs were accompanied by machine-checkable formalizations, and that the average result consumed compute comparable to a few hours of advanced reasoning time.
Earlier related work had included challenges to long-standing conjectures and rapid progress on difficult open problems.
Drake interpreted the pace as evidence that mathematical capabilities are advancing faster than many cryptographic timelines assumed.
In a public post, he recommended a controlled migration of assets toward fresh addresses whose public keys remain concealed behind a hash until they are used.
Large and sophisticated holders, he suggested, should move the bulk of funds to addresses that have never signed a transaction.
After any spend, remaining balances should be shifted again to a new unused address, potentially derived from the same seed.
He stressed that the step does not require new wallets or novel cryptography and should be carried out without haste or panic, because a rushed transfer could itself cause losses.
Today I call upon the blockchain industry to calmly begin planning for "bunker mode". My personal recommendation is to set in motion a controlled mass migration of assets to fresh addresses, i.e. addresses whose pubkeys remain hidden behind a hash.
Holders, starting with large…
— Justin Drake (@drakefjustin) October 7, 2026
Drake argued it is now reasonable to prepare for the possibility that the Elliptic Curve Digital Signature Algorithm (ECDSA)—the scheme securing most Bitcoin and Ethereum transactions—could be broken before practical quantum computers arrive.
In his worst-case framing, fast private key recovery from an exposed public key, on the order of a week using available hardware such as a large GPU cluster, might occur in months rather than years.
He noted that elliptic curves contain algebraic structure that could, in principle, admit unexpected classical attacks, unlike hash functions designed to minimize such structure.
OpenAI’s materials did not claim any attack on ECDSA or RSA; the short timeline remains Drake’s conjecture, not a demonstrated break.
He pointed to trackers of already-exposed Bitcoin public keys and singled out major custodians as candidates to harden cold storage first.
Smaller wallets, he added, retain partial cover from the large set of early exposed addresses.
Critical signers such as oracles could rotate keys or combine signatures with hash-based schemes.
Longer term, he favored moving toward cryptography that relies on hashes rather than structured mathematical assumptions.
The episode fits a wider unease among security professionals.
As AI systems are adopted across research, operations, and infrastructure, assumptions about how long current digital platforms and financial services will remain safe are being reexamined ahead of 2027 and beyond.
Exposed keys, long-lived signatures, and reliance on algebraic hardness are receiving fresh scrutiny even where no immediate exploit has been shown. Drake’s call is therefore best read as a precautionary operational suggestion amid accelerating mathematical automation, not as confirmation that existing wallets have already been compromised.
PowerCompute použila 267,4 BTC ke splacení úvěru zajištěného bitcoinem, čímž snížila svůj zajištěný dluh z přibližně 23,7 milionu USD na 1,25 milionu USD.
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TL;DR: PowerCompute mined 8.1 BTC in September, up 37% from a year earlier. Its month-end Bitcoin holdings fell to 63.7 BTC after the company used 267.4 BTC to help retire a $22.45 million Bitcoin-backed credit facility, leaving most of its secured debt eliminated.
PowerCompute’s latest mining update is a useful reminder that a corporate Bitcoin treasury can serve more than one purpose.
The Nasdaq-listed miner produced 8.1 BTC in September, a 37% increase from the 5.9 BTC it mined in the same month last year and slightly above August production.
At the same time, its Bitcoin holdings fell sharply.
PowerCompute ended September with 63.7 BTC, down from 323.02 BTC at the end of August.
The reason was debt.
The company used 267.4 BTC to help settle principal and accrued interest on a Bitcoin-backed credit facility with Arch, eliminating approximately $22.45 million of obligations and releasing the collateral attached to the loan.
That reduced secured debt from roughly $23.7 million to $1.25 million.
The remaining borrowing is not secured by Bitcoin.
For public miners, that trade-off is significant.
Bitcoin holdings are often presented as a measure of financial strength, particularly when a company’s market value is compared with the BTC sitting on its balance sheet.
But debt changes the picture.
A large treasury that is pledged against borrowings is not as flexible as unencumbered Bitcoin, and leverage can become particularly painful when BTC prices or mining economics turn against the company.
PowerCompute chose to shrink the treasury substantially in exchange for removing most of that leverage.
Management has framed the decision as using Bitcoin to retire debt rather than carrying the financing cost.
The operational side of the update was more positive.
September production of 8.1 BTC was also up from 7.9 BTC in August.
The company operates 26 megawatts of interconnected power infrastructure across facilities in Oklahoma and Mississippi, while also exploring a broader shift toward high-performance computing and AI-related infrastructure.
PowerCompute also generated about $89,000 from selling electricity back to the grid during periods when seasonal heat made curtailment more attractive than mining.
That illustrates another part of modern mining economics.
A miner with access to flexible power is not always maximizing revenue by running machines continuously. At certain times, the electricity itself can be worth more than the Bitcoin the same power would produce.
PowerCompute said energy sales totaled roughly $312,000 across the three months ended September.
The company’s strategy therefore now sits across several moving pieces: Bitcoin production, power-market economics, debt reduction and potential data-center expansion.
None of them is as eye-catching as simply announcing another BTC purchase.
But the September figures show why balance-sheet quality matters.
PowerCompute owns far less Bitcoin than it did a month earlier.
It also owns that Bitcoin with dramatically less secured debt hanging over it.
EDX Markets zalistuje Verified Bitcoin (vBTC), token krytý nativními BTC v poměru 1:1, pro institucionální spotové obchodování a připojí se k síti VerifiedX jako validátor.
EDX Markets, the institution-only digital asset venue backed by Wall Street trading and venture capital firms, will list Verified Bitcoin (vBTC) for institutional spot trading, the company announced on October 8. Under the partnership with VerifiedX, EDX will also join the VerifiedX network as a validator, extending its role from trading venue into the infrastructure that secures the token. The move deepens Wall Street’s push into tokenized Bitcoin, letting institutions put BTC to work across trading, lending, and decentralized finance without surrendering the underlying asset.
A 1:1-Backed, Programmable Bitcoin vBTC is a tokenized form of Bitcoin built on VerifiedX‘s layer-2 protocol. Each token is collateralized one-to-one by native BTC, with Taproot addresses embedded in every token and a direct redemption path back to Bitcoin. VerifiedX positions vBTC as self-custodial and non-synthetic, targeting institutional workflows such as price discovery, cross-market arbitrage, treasury and balance-sheet mobility, and borrowing and lending. Rather than creating economic exposure to Bitcoin without a direct path to the underlying asset, vBTC is built around continuous ownership, utilization and redemption. A canonical EVM representation, vBTC.b, extends the same redemption path to supported Ethereum-compatible environments.
EDX Takes a Validator Role Rather than simply listing a new asset, EDX Markets will validate transactions and participate in governance on the VerifiedX network. The arrangement is designed to let institutions keep direct control over the threshold-signing environment securing their Bitcoin instead of relying on a public signing pool, while EDX’s central clearinghouse reduces bilateral counterparty exposure for institutional participants. “Institutional adoption of digital assets increasingly depends on giving sophisticated market participants greater flexibility in how they trade, move and deploy capital,” said David Olsson, Chief Commercial Officer of EDX Markets.
What Changes for Institutions “Bitcoin does not need another financial abstraction. It needs infrastructure that allows the asset itself to do more,” said Jay Pollak, Head of Strategy at the VerifiedX Foundation. For allocators, the listing bridges EDX’s institutional market structure with programmable Bitcoin infrastructure, preserving native ownership and a direct redemption path. EDX said additional details on vBTC availability will be announced in the coming weeks, and that its products remain available only to institutions in the U.S. and certain other jurisdictions.
AUTHOR
Tokoni Uti is a Lagos-based writer with several years of experience. Her work has appeared in the Huffington Post, the Los Angeles Free Press and the San Diego Free press among others. She is a graduate of Bowen University.
Společnost Bitwise zjistila, že pět velkých amerických platforem pro správu majetku omezuje přístup k bitcoinovým ETP, zatímco dalších 18 umožňuje obchodování pouze na výslovnou žádost klienta.
More than two years after US spot Bitcoin ETFs won regulatory approval, getting one through a financial advisor still depends heavily on where you bank.
A May 2026 analysis from crypto asset manager Bitwise finds that five major US wealth platforms restrict access to Bitcoin exchange-traded products (ETPs). Another 18 allow only unsolicited trades.
Three tiers of access Bitwise sorted US wealth platforms into three buckets based on how they treat Bitcoin ETPs: Restricted, Unsolicited Only, and Solicited.
On a Solicited platform, advisors can actively recommend Bitcoin ETPs to clients. They can bring the idea up in a portfolio review, discuss allocation, and treat it like any other approved product.
According to Bitwise, firms in this group include Morgan Stanley, Fidelity, Charles Schwab, Bank of America, Wells Fargo, and Vanguard.
On an Unsolicited Only platform, advisors cannot pitch the product. They will execute a Bitcoin ETP trade only when the client asks for it. The burden of initiative sits entirely with the investor.
Bitwise places JPMorgan Chase, Goldman Sachs, Citigroup, and UBS in this camp. In total, 18 platforms fall into the Unsolicited Only category.
Then there are the Restricted platforms. These five firms actively limit Bitcoin ETP investment opportunities for clients. Bitwise names HSBC, T. Rowe Price, and American Express among them.
A slow, uneven rollout since 2024 The backdrop here is the January 2024 approval of US spot Bitcoin ETFs. That decision gave traditional investors a regulated, brokerage-friendly way to hold Bitcoin exposure without managing wallets or private keys.
Bitwise’s findings show how unevenly that process has played out. Some firms have moved all the way to letting advisors make recommendations. Others have settled into a middle ground, while a handful remain closed off.
What this means for investors and the industry If an advisor cannot raise Bitcoin ETPs, a large share of clients may simply never consider them. Access technically exists, but distribution does not.
According to the research, the move toward broader solicited access could catalyze greater adoption and heightens the potential for significant capital inflows into Bitcoin ETPs.
The research also notes that full mainstream integration is contingent on further regulatory clarity and continued due diligence at wealth platforms. The prize, as the analysis frames it, is trillions of dollars in client assets currently under management that remain largely out of reach.
For investors, the practical takeaway is straightforward. If you want Bitcoin ETP exposure through an advisor, your platform’s policy shapes the conversation you can have. At a Solicited firm, your advisor can walk you through it. At an Unsolicited Only firm, you will need to request it yourself. At a Restricted firm, you may need to look elsewhere entirely.
For now, Bitwise’s map shows a wealth management industry that has accepted Bitcoin ETPs in principle. In practice, how freely clients can reach them still depends on which firm holds their account.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
Trading giant @RobinhoodApp has purchased $25 million worth of Bitcoin for its own corporate balance sheet, marking the first time the Nasdaq-listed brokerage has put company capital directly into the asset it has long offered to retail customers. The move was flagged by on-chain analytics platform @arkham and later confirmed by Robinhood executives.
A Signal, Not a Treasury Program The disclosure came from Johann Kerbrat, Robinhood's Senior Vice President and General Manager of Crypto and International, speaking at the Digital Asset Summit Asia on October 7, 2026.
Deep in Crypto, but Only Now Holding Bitcoin The purchase comes at a time when @RobinhoodApp has been making aggressive moves across the crypto landscape under CEO @vladtenev.
Despite this deep crypto integration, this $25 million purchase represents the very first time Robinhood has held $BTC on its own books.
Sources:
Bitcoin Treasuries: Robinhood Buys $25 Million of Bitcoin for Its Balance Sheet
Crypto.news: Robinhood adds Bitcoin to balance sheet with $25 million purchase
CoinDesk: Robinhood rolls out public blockchain as it expands deeper into crypto
Thailand’s Securities and Exchange Commission on Thursday finalized rules allowing crypto exchange-traded funds (ETFs) to list on Thailand’s main stock exchange, limited initially to Bitcoin and Ether.
The regulator said the rules will take effect on Oct. 16, 2026. Crypto ETFs must be listed for trading exclusively on the Stock Exchange of Thailand. Products linked to foreign crypto ETFs, such as depositary receipts, will not be permitted initially, while Thai brokers will remain barred from facilitating investments in overseas crypto ETFs for retail investors outside institutions and ultra-high-net-worth individuals.
“We have previously seen examples in the United States where the launch of the Spot Bitcoin ETF and Spot Ethereum ETF created new avenues for institutional and retail investors to easily access digital assets,” Attakrit Chimphlapibul, co-founder of Bitkub Group, told Money and Banking on Thursday.
The framework opens a new route for Thai investors to gain exposure to Bitcoin and Ether through the stock market. The SEC also amended its rules to allow mutual funds and private funds to invest in Thai-established crypto ETFs, whereas previously they could invest only in foreign crypto ETFs.
The framework also prohibits brokers from providing margin loans to purchase crypto ETFs and requires fund assets to be held with SEC-regulated digital asset custodians. Investors must receive information about the products and confirm that they understand the risks before trading.
Crypto ETFs must be managed as a passive investment vehicle seeking to track the price of the crypto asset in which it invests. It must maintain net exposure to a single cryptocurrency averaging at least 80% of net asset value over each accounting year.
The SEC consulted on the proposed principles in April and May and on draft regulations in August and September. Most respondents supported the proposals, the regulator said.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Neexistuje potvrzení, že Fidelity prodala bitcoiny za 197,09 milionu USD; označené převody byly podle Arkham interními přesuny v rámci Fidelity Custody.
A post on X made a short and alarming claim: Fidelity sold $197.09 million worth of Bitcoin.
Nothing in the available record confirms that a sale happened. Research into the claim points to a familiar culprit. On-chain transfers and ETF flow data were read as something they are not.
That distinction matters because Fidelity is not just another wallet on the blockchain. Through Fidelity Digital Assets, the firm provides institutional custody, and it also operates the Wise Origin Bitcoin Fund, better known by its ticker FBTC.
What the on-chain data actually shows The biggest movement tied to this episode came on September 29, 2026. On-chain trackers flagged 12 transfers totaling 3,568 BTC, worth approximately $297 million, leaving wallets linked to Strategy, Michael Saylor’s company.
Arkham Intelligence later clarified that those transfers were internal operations within Fidelity Custody, not sales. They were standard reallocations, consistent with Fidelity managing client deposits.
Strategy’s own activity around that time also undercuts the sell-off story. The company bought 1,665 BTC, worth approximately $142.7 million, between September 21 and September 27, 2026.
That purchase lifted Strategy’s total holdings to 847,666 BTC at an average cost of $75,437 per coin.
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Where the $197 million figure may come from The ETF side of the ledger tells a separate story. US spot Bitcoin ETFs recorded $197.4 million in net inflows for the week ended July 11, 2026.
FBTC was among the funds that showed offsetting outflows during that same period. So the sector as a whole took in money, while some individual funds, including Fidelity’s, saw cash leave.
The $197.09 million figure in the X post and the $197.4 million inflow total are close neighbors. Whatever the origin of the claim, those two numbers describe very different things. One is money coming into ETFs, not coins leaving Fidelity’s balance sheet.
Then came early October 2026. FBTC posted $50.7 million in net outflows amid broader selling across Bitcoin ETFs.
Those outflows are attributed to investor redemptions. When ETF shareholders cash out, the fund shrinks because its clients want their money back, not because the fund manager decided to bail.
The research is direct on the core question: Fidelity has not executed a corporate-level sale of $197 million in Bitcoin.
Why custody keeps getting mistaken for selling Custodians hold assets on behalf of other people. Fidelity Digital Assets does this for institutional clients, which means large amounts of Bitcoin sit in wallets tied to Fidelity without belonging to Fidelity itself.
Public blockchains make every transfer visible. They do not, however, explain why a transfer happened or who asked for it.
In this case, the clarification from Arkham arrived after trackers had already flagged the Strategy-linked transfers. That gap between the raw data and the explanation is where rumors tend to take root.
Spot Bitcoin ETFs add another layer of confusion. Flow figures show how much money entered or left a fund, but those numbers reflect the choices of thousands of shareholders rather than a single decision made at headquarters.
What this means for investors The immediate takeaway is simple. There is no verified evidence that Fidelity, as a company, sold $197 million in Bitcoin.
What did happen is less dramatic. Strategy-linked coins were reshuffled inside Fidelity’s custody system, Strategy kept buying, and FBTC saw a mix of inflows and outflows driven by its own investors.
For anyone tracking institutional behavior, the more useful signal is the $50.7 million in FBTC outflows in early October. Those numbers reflect actual investor decisions amid broader ETF selling, which says something about how some holders were positioning at the time.
Strategy, sitting on 847,666 BTC, will keep drawing scrutiny every time its coins move through a custodian. A practical habit for traders: wait for attribution from an analytics firm such as Arkham, or from the companies involved, before reading a large transfer as a trade.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Bitcoin během necelých 30 minut klesl o zhruba 2 000 USD na méně než 84 000 USD, což za 24 hodin vyvolalo likvidace v objemu přes 550 milionů USD, převážně long pozic.
Bitcoin, haftaya 87.000 dolar seviyesinde yeniden durdurularak başladı. Fiyat bir süre 85.600 doların üzerinde tutundu ancak ardından 30 dakikadan kısa sürede yaklaşık 2.000 dolar geriledi. Sert hareket, kripto piyasasında tasfiyeleri de hızla artırdı.
Son 24 saatte tasfiye edilen pozisyonların toplam değeri 550 milyon doları aştı. Bunun yaklaşık 430 milyon doları yalnızca son dört saat içinde gerçekleşti ve tasfiyelerin neredeyse tamamını long pozisyonlar oluşturdu.
Peki satışın arkasında ne vardı? Piyasada özellikle iki ihtimal öne çıktı.
Bitcoin, 87.000 doları yeniden aşamayınca 85.600 doların üzerinde bir süre yatay kaldı. Ardından satış baskısı hızlandı ve fiyat yarım saatten kısa sürede yaklaşık 2.000 dolar geriledi.
Bu hareket kaldıraçlı işlemlerde zincirleme tasfiyeleri tetikledi. CoinGlass verilerine göre son 24 saatte 100.000’den fazla traderın pozisyonu kapandı.
En büyük tekil tasfiye işlemi Binance’te gerçekleşti. 26 milyon dolar değerindeki işlem ETH/USDC paritesinde açılan bir pozisyona aitti.
Bitcoin’deki düşüş altcoinlere de yayıldı. Ethereum yaklaşık %4 değer kaybederek 2.600 doların altına indi. XRP, HYPE, DOGE ve ADA ise son 24 saatte %6’ya varan kayıplar yaşadı.
ABD Hükümeti Bitcoin Satmış Olabilir mi? Düşüşün ardından dikkatler ABD hükümetinin cüzdan hareketlerine çevrildi. Lookonchain, ABD hükümetinin elindeki kripto varlıkların bir bölümünü taşıdığını bildirdi.
Verilere göre toplam 834 BTC, yaklaşık 71,56 milyon dolar değerle Coinbase Prime’a gönderildi. Bunun yanında 40.285 BNB de transfer edildi.
Coinbase Prime’a yapılan BTC transferi, piyasada satış ihtimalini gündeme getirdi. Ancak bu hareket tek başına ABD hükümetinin Bitcoin sattığını kanıtlamıyor.
Dolayısıyla söz konusu transferi doğrudan Bitcoin’deki düşüşün nedeni olarak göstermek için yeterli veri bulunmuyor. Kaynak da bu gelişmeyi yalnızca olası nedenlerden biri olarak ele alıyor.
Bitcoin has dropped below $84,000.
Just before the market dropped, 4 newly created wallets deposited 1M $USDC into #Hyperliquid and opened 40x shorts on 148.49 $BTC ($12.5M).
Düşüşten Önce 40x Short Açan Cüzdanlar Kim? Daha dikkat çekici ikinci gelişme ise yeni oluşturulan dört cüzdanla ilgili.
Lookonchain’in güncellemesine göre dört yeni cüzdan, düşüşten yalnızca birkaç dakika önce Hyperliquid’e toplam 1 milyon USDC yatırdı. Ardından yaklaşık 150 BTC, yani 12,5 milyon dolar değerindeki pozisyon üzerinde 40x short açtılar.
İşlemlerin zamanlaması dikkat çekiyor. Cüzdanların pozisyon açmasının hemen ardından Bitcoin sert biçimde geriledi.
Ancak bu veriler, söz konusu cüzdanların düşüşü önceden bildiğini ya da hareketin arkasında olduğunu kanıtlamıyor. Yalnızca açılan short pozisyonların zamanlamasını gösteriyor.
Bitcoin’de Tasfiye Baskısı Nereye Kadar Sürebilir? Bitcoin’deki yaklaşık 2.000 dolarlık düşüş, yüksek kaldıraç kullanımının piyasadaki etkisini bir kez daha gösterdi. Son dört saatteki 430 milyon dolarlık tasfiye, özellikle long pozisyonların ne kadar hızlı sıkışabileceğini ortaya koydu.
Ethereum tarafındaki yaklaşık %4’lük düşüş de tasfiyeleri büyüten unsurlardan biri oldu. Altcoinlerdeki kayıpların Bitcoin’den daha sert gerçekleşmesi, satış dalgasının yalnızca BTC ile sınırlı kalmadığını gösterdi.
Bu noktada piyasada iki ayrı ihtimal konuşuluyor: ABD hükümetine ait varlıkların Coinbase Prime’a taşınması ve düşüşten hemen önce açılan yüksek kaldıraçlı short pozisyonlar. Ancak mevcut veriler, bu gelişmelerden herhangi birinin tek başına satışın kesin nedeni olduğunu göstermiyor.
Bu içerik genel piyasa verilerine dayanır ve yatırım tavsiyesi değildir. Kendi araştırmanızı yapmanızı öneririz.
Son Dakika kripto para haberleri için hemen tıkla.
Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.
BTC price remains under pressure as fresh Bitcoin news points to another large movement of crypto linked to the U.S. government. Arkham data shows that government wallets have moved more than 12,260 BTC, worth roughly $1.1 billion. The transfers have raised fresh concerns about possible selling pressure across the market.
Bitcoin News: US Government Moves Over 12K BTC In the latest Bitcoin news, the latest US government activity has caught the attention of crypto market traders. Arkham data indicates that government-linked wallets have moved more than 12,260 BTC in total. At current valuations, the stash is worth about $1.1 billion.
Meanwhile, the development comes after another major transfer on October 7, 2026. On-chain data showed the government moved around $103 million in seized crypto assets that day, and the transaction involved 833.6 BTC worth nearly $71.56 million.
The same movement also included 40,285 BNB, while that portion was valued at approximately $31.63 million. According to Bitcoin news, the size of these transfers has intensified discussions about the government’s intentions.
Notably, large wallet movements often attract attention because they can precede changes in market liquidity. However, moving coins does not automatically mean that the assets have entered the open market.
Can This Impact BTC Price? According to Bitcoin news, traders are now assessing whether the latest transfers could eventually translate into selling activity. A direct sale could increase available supply and potentially add short-term pressure on BTC.
On the other hand, the BTC price has continued to stay in the red, falling around 2% in the last seven days to around $82.5k. Still, the Bitcoin news transfer itself does not confirm an immediate selloff.
Government-held crypto can move between wallets for custody, administrative, or liquidation-related reasons. Investors therefore need to distinguish wallet activity from confirmed exchange deposits or executed sales.
Despite that, investors should exercise due diligence, given the ongoing topsy-turvy scenario in the market. In addition, the ongoing Fed rate hike concerns, after the latest US FOMC, could further impact the sentiment of the broader financial sector, let alone the crypto market.
Americké spotové bitcoinové ETF zaznamenaly 7. října čistý odliv ve výši 484,9 milionu USD; fond IBIT společnosti BlackRock vedl s odlivem 207,7 milionu USD.
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TL;DR: US spot Bitcoin ETFs recorded $484.9 million in net outflows on October 7, according to Farside Investors. BlackRock’s IBIT led the withdrawals with $207.7 million leaving the fund, while Fidelity and ARK also posted nine-figure outflows.
A day after Bitcoin ETF inflows appeared to recover, institutional money moved sharply in the other direction.
US spot Bitcoin exchange-traded funds recorded $484.9 million in combined net outflows on October 7, according to updated data from Farside Investors.
The redemptions were broad rather than concentrated in one legacy product.
BlackRock‘s IBIT, normally the strongest source of positive flow in the group, lost $207.7 million.
Fidelity’s FBTC recorded another $105.1 million of net outflows, while ARK’s ARKB lost $101.7 million.
Bitwise’s BITB posted $27.6 million of outflows, Grayscale‘s GBTC lost $39.3 million and VanEck’s HODL shed $3.5 million.
The scale of the reversal stands out because the group had recorded $118.8 million of net inflows just one session earlier.
BlackRock itself had taken in $122 million on October 6 before becoming the biggest source of redemptions the following day.
That is a useful reminder of how quickly ETF flows can change.
Large creations and redemptions do not necessarily represent a permanent institutional view on Bitcoin. Funds are used for tactical trades, portfolio rebalancing, arbitrage and longer-term exposure, all of which can produce significant daily swings.
Still, nearly half a billion dollars leaving the products in one session is difficult to ignore.
The composition matters.
GBTC was once routinely responsible for most of the sector’s negative flow as investors exited the higher-fee legacy trust after its conversion to an ETF.
October 7 looked different.
The largest withdrawals came from products run by BlackRock, Fidelity and ARK, indicating that the selling pressure reached funds that have historically attracted substantial new capital.
Bitcoin was trading in a more difficult macro environment at the same time, with risk assets under pressure and investors watching interest rates, energy prices and geopolitical developments.
ETF flows cannot prove why a market moved, but they offer a direct view into how one of Bitcoin’s largest regulated investment channels is behaving.
That channel has become increasingly important since spot products opened the market to investors who do not want to hold BTC directly.
One bad session does not break that structural story.
But October 7 was not a marginal pullback either.
For the first time in several sessions, the strongest message from the ETF market was not accumulation.
Více než 6 milionů BTC, tedy 31,2 % oběžné zásoby, je spojeno s veřejně odhalenými veřejnými klíči, což by v případě budoucího průlomu v oblasti AI nebo kvantových počítačů mohlo zvýšit bezpečnostní riziko.
More than 6 million bitcoin are now held behind public keys visible on the blockchain, raising concerns about exposure as experts warn that artificial intelligence or quantum computing advances could threaten the security of digital assets.
Growing public-key exposure on the Bitcoin networkData from Glassnode, a leading blockchain analytics firm, shows that this exposed supply represents 31.2% of Bitcoin’s circulating supply. This figure is 5 to 6 percentage points above the lowest level recorded in 2023.
Between May and the latest update, exposed bitcoin holdings increased by 222,000 BTC, now valued at $18.2 billion. In contrast, the total bitcoin supply grew by just 64,000 BTC during the same period, according to Rafael Schultze-Kraft, co-founder of Glassnode.
Exchanges have contributed significantly to this rise, accounting for 123,000 BTC of the newly exposed balance. Presently, exchanges hold 1.79 million BTC behind public keys that are viewable on-chain.
The degree of exposure varies across exchanges. Coinbase, a prominent U.S.-based crypto exchange, has 10% of its bitcoin exposed, while Binance’s share stands much higher at 83%.
EntityBTC Exposed (%)Approximate Exposed BTCBinance83%Not specifiedCoinbase10%Not specifiedFidelity2%375,000 total BTC heldGrayscale49%Not specifiedRevolut99%Not specifiedRobinhood100%Not specifiedInstitutional holders show differing levels of exposure. Fidelity, the global financial services corporation, holds 375,000 BTC, of which only 2% are publicly exposed. Grayscale, an investment management firm specializing in digital currencies, has 49% of its holdings exposed, while digital platforms Revolut and Robinhood show exposure levels of 99% and 100% respectively. Holdings by the U.S., U.K., and El Salvador governments reportedly have no exposure under this analysis.
Mini dictionary: Glassnode is a blockchain analytics company that provides data insights and metrics related to on-chain activity, helping traders, investors, and institutions analyze cryptocurrency networks.
Security implications and technical outlookPublic keys become visible on the blockchain for several reasons, including address reuse or their appearance in special bitcoin output types like early pay-to-public-key transactions or Taproot-enabled outputs. If an attacker could exploit a future breakthrough in quantum computing or cryptanalysis, they might potentially derive private keys from these public keys, threatening the security of assets held in such wallets.
Although no practical attack on bitcoin’s or ether’s cryptographic security has been demonstrated to date, experts continue to monitor the situation closely, with a particular focus on developments in quantum computing and machine learning fields.
Ethereum researcher Justin Drake recently cautioned that the crypto industry should prepare for a scenario he called “bunker mode.” He warned of a theoretical possibility that advances in AI could rapidly enable shortcuts to breaking wallet cryptography.
Justin Drake has highlighted the urgent need for market participants to be prepared for worst-case scenarios, noting that AI could discover vulnerabilities in wallet encryption methods far faster than expected.
Drake also argued that institutions may face greater challenges adapting to emergency security measures than individual crypto holders, should an accelerated threat materialize.
Despite rising exposure figures, analysts specify that these metrics reflect addresses and not immediate risks, as no security compromises have been observed at this stage.
Na Deribitu 30. října expiruje přibližně 35 % open interestu v bitcoinových opcích o nominální hodnotě 10,7 až 11,3 miliardy USD, což představuje největší takovou expiraci v historii platformy.
About 35% of all Bitcoin options open interest on Deribit is tied to a single date: October 30. That works out to a notional value of approximately $10.7 to $11.3 billion, all scheduled to settle at 08:00 UTC that morning.
For context, that makes it the largest single expiry cluster on the platform. It is bigger than the December 25 contracts, which usually get top billing as the holiday blockbuster of the options calendar.
What traders are betting on The single largest strike concentration is the October 30 $95,000 call, which holds roughly 24,000 BTC of open interest.
With Bitcoin trading near $86,000, that strike alone represents roughly $2.1 billion in notional value. A call option pays off if the price rises above a set level, so a crowd at $95,000 is a crowd expecting a meaningful move higher.
The put-to-call ratio sits somewhere between 0.4 and 0.51, meaning there are roughly two calls for every put on this expiry.
For the October 30 expiry, max-pain levels are identified at around $78,000 to $79,000. That is below where Bitcoin currently trades, which creates an awkward gap between where buyers want the price to go and where sellers would profit most.
How big is this, really Total Bitcoin options open interest on Deribit has been reported in the $29 to $36 billion range. Against that backdrop, a single date holding more than a third of the total is a lot of eggs in one basket.
The buildup follows a run of large expiries that recently cleared, including those in late September. Once those contracts rolled off, traders began repositioning, and much of that fresh money appears to have landed on October 30.
What this means for the market When a huge block of calls sits at a strike like $95,000, market makers who sell options may need to buy more Bitcoin if the price climbs toward that level. That buying can, in theory, push prices further in the same direction. The process can also run in reverse if prices slip and hedges are unwound.
The research flags these potential gamma-hedging flows, along with alignment between options and futures positioning, as factors that may influence how Bitcoin trades into the expiry.
A market with relatively few protective bets is a market that may not be well cushioned if prices turn lower. Without much downside insurance in place, a sharp move against the crowd could force traders to react quickly, which may amplify volatility rather than dampen it.
Bitcoin near $86,000 sits well above the $78,000 to $79,000 max-pain zone. The tension between a crowd of upside bets and a max-pain level several thousand dollars lower is the sort of setup that keeps options desks glued to their screens.
A few things are worth tracking as the date approaches. First, whether open interest at the $95,000 strike keeps growing or starts to thin out as traders take profits or roll positions forward. Second, whether the put-to-call ratio stays near its current 0.4 to 0.51 range. Third, how futures positioning evolves alongside the options book, as alignment between the two could reinforce whichever direction the market picks.
Once roughly a third of Deribit’s open interest rolls off in a single morning, the hedges tied to those contracts no longer need to be maintained, and the December 25 expiry would then become the next big date on the calendar.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Moscow Exchange plánuje 1. prosince zahájit obchodování s kryptoměnami v souladu s novým ruským regulačním rámcem; zpočátku očekává, že bude podporovat BTC, ETH, SOL, XRP a TRX.
Moscow Exchange (MOEX), Russia’s largest stock exchange, plans to begin offering crypto trading on December 1 under the country’s new regulatory framework. Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP and TRON (TRX) are expected to be the initial cryptocurrencies supported by the exchange
Moscow Exchange to Offer Crypto Trading Moscow Exchange is currently testing crypto trading with professional traders, said senior managing director for sales and business development Boris Blokhin on October 8. This is a test environment for digital currency trading, testing the functionality that will eventually be implemented in the production environment
“We will continue testing until launch. We plan to provide this cryptocurrency trading capability on December 1st, in line with the new legislation,” he added, according to TASS.
Moscow Exchange intends to use its existing trading organizer license and stock-market infrastructure for crypto assets, which the new regulations permit. “Therefore, everything is very simple – both for the participants and for us” as there is no additional inclusion in the exchange’s register is required.
The announcement follows the entry into force of Russia’s cryptocurrency market legislation in early September. The Bank of Russia has begun registering crypto exchange operators and crypto custodians such as Sberbank and VTB Bank.
As CoinGape reported, Sberbank plans to launch its first crypto products on December 1. The products will be offered via SberBank Online, SberInvestments and SberBusiness. These services are already available in the bank’s overall digital platform.
Under the framework, unqualified investors can buy only Bitcoin, Ethereum, and Tether (USDT), up to 300,000 rubles per year. Qualified investors can purchase all cryptocurrencies on the platform and over-the-counter markets, without a limit on the amount.
Moscow Exchange launched perpetual futures tied to Bitcoin, Ethereum, Solana, XRP, and TRON indices last month. The contracts are quoted in US dollars, settled in Russian rubles, and limited to qualified investors. This positions Russia’s Moscow Exchange to offer regulated crypto exposure alongside banks and other licensed intermediaries.
To understand how these state-backed initiatives compare with international providers, traders can look at our comprehensive review of the regulated crypto exchanges comparison currently operating in the market.
Bitcoin has spent most of its life as the asset you buy, store, and try not to look at too often. Stacks wants to give it a job.
On October 7, 2026, Stacks founder Muneeb Ali published a vision document describing what he calls the “Satoshi Upgrades.” The goal is a set of protocol changes that would turn Stacks into a hub for Bitcoin capital markets by 2030.
The plan rests on three pillars: capital markets, privacy, and post-quantum security.
The three pillars of the Satoshi Upgrades The first pillar is Bitcoin capital markets, built around yield generation and collateralization. The core components include scaling self-custodial BTC staking and yield generation, and lending activity collateralized by bonded BTC.
The second pillar is privacy, specifically enhancements designed for institutional-grade transactions.
The third pillar is post-quantum security, aimed at protecting against emerging quantum computing threats.
Every one of these activities is meant to settle on Bitcoin’s Layer 1, the base blockchain itself.
Bonds, institutions, and a new CEO The vision did not arrive out of nowhere. It follows the PoX-5 hard fork, which activated on July 30, 2026, and introduced protocol bonds for Bitcoin staking.
The first offering, the Genesis Bond, sold out in September 2026 after raising approximately 230 BTC. Institutional buyers included 21Shares, HashKey Cloud, and UTXO Management.
Stacks then opened Bond 2 in October 2026 with a capacity of 500 BTC, aimed at liquid staking options.
Ali is set to become CEO of Stacks Labs on October 15, 2026, succeeding Alex Miller, who will move into advisory roles. Ali plans to prioritize accelerating institutional business development and streamlining the leadership structure.
Ali announced that Stacks Labs intellectual property will be transferred to the Stacks Endowment, an entity with no shareholders.
A two-year roadmap is expected to follow, focusing on privacy features, post-quantum technology, and expanded yield markets, while extending STX’s utility as capital.
What this means for BTC holders and STX For Bitcoin holders, the proposition comes down to self-custodial yield and BTC-backed lending, which would let long-term holders put idle coins to work without selling them or surrendering custody.
The Genesis Bond offers an early read on demand. A fully subscribed raise of approximately 230 BTC from names like 21Shares and HashKey Cloud suggests institutions are receptive to Bitcoin-linked yield at that size. Bond 2 at 500 BTC is the next real test.
For STX, the token sits at the center of the design as a rate-limiting factor in planned capital market activity.
Near-term markers are clear: watch Ali’s October 15 start as CEO, the subscription pace of Bond 2, the release of the two-year roadmap, and the completion of the transfer to the Stacks Endowment.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Čisté přítoky do amerických spotových ETF na bitcoin klesly mezi 28. zářím a 2. říjnem zhruba o 90 % na 241,1 milionu USD, oproti 2,39 miliardy USD v předchozím týdnu.
Bitcoin trades around 84,000 dollars as institutional demand shows signs of slowing. Between September 28 and October 2, US spot ETFs recorded only 241.1 million dollars in net inflows. Meanwhile, the futures market is reducing its leverage. These movements now place ETF flows and several price levels at the center of upcoming market developments, as investors closely watch the next price moves.
In brief US Bitcoin spot ETFs attracted only 241.1 million dollars in one week. Inflows dropped about 90% compared to the previous 2.39 billion dollars. Open interest on futures declines to about 625,000 BTC. Bitfinex monitors thresholds of $86,000, $82,600, and $81,300 in particular. Bitcoin faces decline in flows to ETFs The bitcoin price traded around 84,000 dollars after another failure below its annual opening of 87,700 dollars. On October 2, its price had reached 87,200 dollars before falling below that level. Bitfinex considers this rejection as the third breakthrough failure in ten days.
Between September 28 and October 2, US bitcoin spot ETFs attracted 241.1 million dollars. One week earlier, these products had recorded 2.39 billion dollars in net inflows. The drop thus reaches about 90%, according to data presented by Bitfinex. This decrease occurs while the price remains near several thresholds followed by US ETF holders as well.
The nine consecutive days streak of inflows also ended on September 30. On that day, ETFs recorded a net outflow of 148.7 million dollars. In detail, BlackRock’s IBIT received 450.2 million dollars. Conversely, Fidelity’s FBTC suffered 168 million dollars in outflows, showing a mixed evolution among the main products.
Leverage reduces on futures contracts The futures market is also experiencing a slowdown. Before the release of the September employment report, open interest had increased by 2.1 billion dollars. Afterwards, traders reduced their positions, causing a decrease of 1.5 billion dollars.
Cumulative open interest on futures now reaches about 625,000 bitcoins. Bitfinex indicates this is its lowest level since January 1. This decline accompanies weakness in spot demand observed in ETFs. According to the presented analysis, the next bitcoin evolution would therefore depend more on a return of spot buying.
The price level of ETF holders also provides an important benchmark. Bitfinex places their average cost around 84,320 dollars. Inflows reach about 65 million dollars when the price remains less than 2% below this level. They rise to about 136 million dollars when the market moves more than 10% above.
Price levels to watch now Bitfinex considers 86,000 dollars as an important level for bitcoin. Conversely, a drop below 82,600 dollars could cause further losses for ETF holders. The zone between 84,000 and 84,500 dollars concentrates about 867,000 BTC. It thus represents the largest group of average cost identified in this analysis.
Nearly 75% of Bitcoin supply is currently in profit. Bitfinex forecasts consolidation between 84,000 dollars and the annual opening price. The evolution of ETF flows will therefore remain a central factor in determining if the market can regain firmer momentum.
Data related to employment, inflation, spending, and Treasury yields also influence expectations. Weak employment growth strengthens expectations for a status quo in October, despite the high levels of these other indicators. For Bitfinex, larger ETF inflows could accompany a rise toward 90,000 dollars.
If trades remain below 81,300 dollars, the levels of 77,000 dollars and the True Market Mean, near 77,200 dollars, could then come into play. Bitcoin is thus between weakened ETF demand and several clearly identified thresholds. The next move will mainly depend on spot flow strength recovering.
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Ghiles A.
Journaliste et rédacteur web passionné par l’univers des cryptomonnaies et des technologies Web3. J’y traite les dernières tendances et actualités afin de proposer un contenu de haute qualité à un large public du secteur.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Zůstatky uživatelů Binance v BTC mezi 1. zářím a 1. říjnem vzrostly o 0,91 % na 688 600 BTC, zatímco zůstatky v ETH klesly o 4,61 % na 3,799 milionu ETH.
In a recent update, Binance’s October Proof of Reserves (PoR) data shows that users were more inclined towards Bitcoin [BTC] on the exchange.
Meanwhile, their holdings of Ethereum [ETH], Tether [USDT], and Binance [BNB] declined between the 1st of September and the 1st of October.
Source: Binance Changes in Binance’s October PoR As per Binance’s report, user BTC holdings rose 0.91% to about 688,600 BTC, meaning users collectively added roughly 6,217 BTC to their Binance balances. In contrast, ETH holdings fell 4.61% to around 3.799 million ETH, a decline of approximately 183,600 ETH.
At the same time, USDT holdings also declined 0.87% to roughly 32.03 billion USDT, meaning users held about 280 million fewer USDT than a month earlier. Meanwhile, BNB holdings decreased 0.77% to approximately 43.04 million BNB, down around 334,200 BNB.
All in all, the data shows a shift in the composition of assets held by Binance users, with Bitcoin becoming more prominent while ETH, USDT, and BNB balances decreased. However, PoR is essentially a snapshot of assets held for users at a particular point, not a direct measure of buying or selling pressure.
Price action and more This comes as Bitcoin traded at $83,448.55 at press time after a drop of 3.2% in the past 24 hours. Whereas Ethereum was trading at $2,573.66 after a drop of 5.0%, while BNB was down 2.4% over the same period.
All of this coincided with Binance’s MiCA licensing setback in the EU, which was reportedly influenced by ECB President Christine Lagarde.
According to AMBCrypto’s recent report, Lagarde allegedly intervened to stop Greece’s regulator from approving the exchange’s application amid concerns that USD-based stablecoins could undermine the Digital Euro.
Final Summary Binance’s October Proof of Reserves (PoR) shows a rise in Bitcoin holdings. Meanwhile, there was a drop in ETH, BNB, and USDT holdings.
Peněženky spojené s americkou vládou převedly 833,599 BTC v hodnotě 71,6 milionu USD na Coinbase Prime a 40 285 BNB v hodnotě 31,63 milionu USD přes neoznačenou adresu do druhé neznámé peněženky; prodej nebyl potvrzen.
$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.
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Průzkum společnosti Charles Schwab ukázal, že 60 % současných investorů do kryptoměn v USA plánuje během příštích 12 měsíců navýšit své držby kryptoměn.
Forget stocks — U.S. investors are more interested in upping their bitcoin holdings, according to new research.
Charles Schwab’s 2026 Modern Wealth Survey dropped on Wednesday, and showed that current cryptocurrency investors want to keep adding to their holdings.
The research revealed that a total of six in 10 plan to invest more over the next 12 months — a higher share than among owners of all other investments measured, including ETFs (56%), stocks (52%), bonds (42%), and mutual funds (41%).
“Existing cryptocurrency investors are certainly leaning in, particularly younger investors who are driving much of the interest and momentum in cryptocurrency,” Head of Digital Assets at Charles Schwab, Joe Vietri, said in a statement.
“But to me, the bigger story is that cryptocurrency is increasingly viewed as a complement to traditional investments.”
Charles Schwab is the country’s largest custodian for registered investment advisors, and earlier this year began a phased rollout of Schwab Crypto to retail clients, giving them direct access to bitcoin trading along with educational content and professional support.
Schwab also offers crypto-linked exchange-traded funds, bitcoin futures, and its own Schwab Crypto Thematic Index ETF. CEO Rick Wurster has said Schwab clients hold more than 20% of all crypto exchange-traded products across the industry.
Wednesday’s report added that one in five Americans overall own cryptocurrency today, and another one in five say they don’t own it but are interested in buying it. Among investors, nearly half own cryptocurrency.
It further noted that millennials are the most likely to own cryptocurrency, and are more than four times the rate among Boomers.
The online survey was conducted by Logica Research from August 24 to September 17, 2026, among a national sample of 2,000 Americans ages 21 to 75.
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
Spiral pro Mesh LLM vyvíjí bitcoinové platby prostřednictvím sítě Lightning Network, aby AI agenti mohli přímo platit za výpočetní výkon GPU; tato funkce zatím nebyla spuštěna.
Spiral is building Bitcoin payments into Mesh LLM, its peer-to-peer AI inference network. The goal is to let machines buy and sell AI compute from each other without touching traditional payment rails.
As of early October 2026, the payment feature is still under active development. Nothing has shipped yet, but the direction is clear: Spiral wants AI agents to have a wallet, not a corporate expense account.
How the Mesh LLM payment layer is supposed to work Mesh LLM is a decentralized network that pools idle GPU power from its users. That combined hardware runs open-source AI models collaboratively.
Mesh LLM can run distributed inference on large models exceeding 256GB, the kind of workload that would normally require serious dedicated hardware.
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The payment integration runs through the Lightning Network, a layer built on top of Bitcoin for small, fast transactions. GPU contributors would get paid for the compute they lend to the network, and AI agents would be able to pay for inference directly, without an intermediary sitting between buyer and seller.
On October 3, 2026, the team publicly discussed its ongoing progress on Mesh LLM payments and flagged challenges around verifiable compute. If you pay a stranger’s GPU to run your model, how do you know it actually did the work?
From Bitcoin plumbing to AI infrastructure Spiral was initiated by Block in 2019 to fund and build open-source Bitcoin development. The Lightning Development Kit gives developers building blocks for adding Lightning payments to their own apps. The Mesh LLM payment work builds directly on that existing foundation.
Spiral has also moved into AI infrastructure through the Goose Development Kit, known as GDK, and through Agent Communication Protocol standards.
In September 2026, Lightning was integrated into the x402 payment standard, which is designed specifically for AI agent micropayments. Recent discussions around Mesh LLM have highlighted x402 as a potential route for handling those micropayments. That remains a possibility under discussion rather than a confirmed implementation detail.
What this means for AI agents, GPU owners and Bitcoin Coverage of the work has so far stayed mostly inside Bitcoin-focused and developer communities. There are no adoption numbers, transaction volumes or usage metrics to point to yet.
The verifiable compute problem is the single biggest thing to monitor. A payment system for anonymous GPU providers only works if buyers can trust they received what they paid for, and the team has openly said this is a challenge.
Other signals worth following include whether x402 ends up powering the micropayment flow and how Spiral ties Mesh LLM into its GDK and Agent Communication Protocol work.
Disclosure: This article was edited by Diego Almada Lopez. For more information on how we create and review content, see our Editorial Policy.
