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BitMine Immersion Technologies, the Nasdaq-listed treasury firm that became the world’s largest corporate ether holder, plans to stop buying the token once its stack reaches 5% of ETH’s circulating supply. Chairman Tom Lee said Wednesday at TOKEN2049 in Singapore that the company is roughly 100,000 ETH from that ceiling and will halt purchases when it gets there, CoinDesk reported.

The announcement caps a weekly accumulation streak that began in June 2025 and raises a sharper question than it first appears: if more than a year of steady buying did not stop ETH from falling, how much does losing that predictable buyer actually matter?

How Close BitMine Is to Its 5% Ceiling BitMine held 6,016,414 ETH as of its Monday update, worth about $15.5 billion and equal to roughly 4.9% of the 122.1 million tokens in circulation. The firm bought another $41 million in ether last week, and at that pace the final 100,000 ETH would take six to seven weeks to accumulate.

Lee framed the timeline as faster than expected. “We thought this would take five years,” he said on stage. “It took us a little over a year.” The company also holds $643 million in cash and marketable securities, more than twice what it would need to finish the run at current prices.

A Year of Weekly Buying That Failed to Hold Up Ether The end of the buying matters less as a flow event than as a signal. BitMine has bought ETH every week since launching its treasury strategy in June 2025, yet the token is down sharply over that stretch and the position is sitting on roughly $4.5 billion in unrealized losses, according to data compiled by DropsTab and cited by CoinDesk. Much of that buying happened during last year’s bull market at higher prices, which is why the position is deeply underwater despite the steady dollar-cost averaging.

That record cuts against the idea that a single corporate buyer can anchor the price. CoinDesk itself framed the purchases cautiously, noting they “may or may not have helped support ETH.” On Wednesday the token fell about 5% over 24 hours to its weakest level since September 20, dropping nearly twice as much as bitcoin. BitMine’s ascent past 6 million ETH also came while the broader market was still sliding.

What to Watch After the Buying Stops At roughly $41 million a week, BitMine’s purchases are a small share of ETH’s daily volume, so the direct flow impact of stopping is limited. The larger question is whether the firm’s exit removes a predictable, disclosed bid that traders had come to expect, and what it signals about the end of the treasury strategy.

Watch the 5% threshold over the next six to seven weeks, any word on how BitMine redeploys its $643 million cash reserve, and whether ether can stabilize after slipping below $2,600 as ETF outflows stretched into a sixth consecutive day.

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.

Ethereum co-founder Vitalik Buterin warned on Thursday that AI-accelerated maths could weaken lattice-based cryptography, including schemes considered quantum-resistant, within two years.

He urges the crypto industry to take the risks posed by AI-accelerated math seriously and minimize exposure not just to quantum-vulnerable cryptography, but also potentially AI-vulnerable cryptography.

Vitalik Buterin Warns About AI Risks to Even Quantum-Resistant Cryptography In an X post on October 8, Vitalik Buterin warns that AI mathematical advancements could undermine not only quantum-vulnerable crypto schemes like ECDSA but also lattice-based cryptography such as ML-DSA and FHE, which many view as post-quantum safe or quantum-resistant.

He challenged the common assumption that “elliptic curves broken, hashes safe, lattices safe.” He said there is a “good chance” that the concrete security of lattices will take serious hits from the next two years of AI math advancements.

Vitalik Buterin claimed RSA keys and signatures need to be nearly 400 bytes, and not 64 bytes. He argued, “What if there are skeletons in the closet like that, both for elliptic curves and lattices, that we are simply not smart enough to discover but bots soon will be?”

Ethereum Is Shifting to Hash-Based Crypto Signatures amid AI Risks Vitalik Buterin revealed that Ethereum’s lean roadmap has focused on a “hash-only” direction rather than lattices, with signatures like WOTS and SPHINCS. He claimed hash-based methods do not have exploitable mathematical structure and are considered more resistant to AI-accelerated attacks.

For signatures and proofs, hash-only approaches are already known to work. Public key encryption is harder, he noted, because long-standing mathematical results show it cannot be built from hashes alone.

“To me that’s a very plausible world and something not at all extreme to predict. If AI will bring us 50 years of math in 2 years, then that 50 years of math may very plausibly include a “naive factoring -> GNFS” level of improvement to our ability to break lattices,” he said.

As CoinGape reported earlier, the Ethereum Foundation is targeting to make Layer-1 fully quantum-resistant by 2029. Vitalik Buterin earlier pushed back against a claim that AI-powered hacking can weaken cybersecurity.

Vitalik Buterin’s Advice on Minimizing AI Risks to Crypto Signatures For multisigs, Ethereum co-founder claimed the ideal “safe” rule is that each signer should change their key after each operation. “You definitely still want to gather sigs offchain if possible, to minimize the number of hours between sig revealed and key no longer active,” he said.

He advised using fresh addresses wherever possible, off-chain multisig confirmations, avoiding on-chain encrypted notes for privacy, and larger parameters for any lattice-based public key encryption to prevent long-term risks.

Meanwhile, Europol urged crypto industry to begin preparing for quantum computing threats early. The agency warned that crypto wallets are the primary point of exposure to quantum attacks.  The EU’s NIS Cooperation Group urged adopting a post-quantum strategy by 2026-end.

While developers work to secure signatures and proofs against emerging mathematical threats, check out the best zero-knowledge proof projects as platforms pioneer cutting-edge cryptographic defenses.

Ethereum (CRYPTO: ETH) co-founder Vitalik Buterin urged the cryptocurrency industry on Wednesday to take “AI-accelerated attacks” on cryptography seriously.

Post-Quantum Cryptography Also Vulnerable?In an X post, Buterin warned that AI could accelerate mathematical advances enough to weaken lattice-based cryptography—believed to be more resilient against quantum attacks.

“There is a good chance that the concrete security of lattices will take serious hits from the next two years of AI math,” he added.

Buterin said this risk is a major reason Ethereum’s roadmap has moved toward a "hash-only" direction. He stressed that signatures and proofs can already use hash-based approaches, while “public-key encryption” remains a larger unresolved challenge.

Most major blockchains currently rely on elliptic curve cryptography, a system that ensures private keys cannot be derived from public addresses using classical computers. However, sufficiently strong quantum machines could, in theory, break these protections.

Buterin Warns Against Both AI and Quantum RisksButerin said users need not "scramble" to move funds to new wallets immediately, but recommended reduced exposure to cryptographic systems vulnerable to AI or quantum attacks.

For users who can do so easily, Buterin suggested keeping funds in addresses that have not previously conducted transactions. He also recommended completing multi-signature confirmations off-chain to avoid exposing the public keys.

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Will AI Threaten Crypto?Earlier this year, Buterin called for the swift deployment of quantum-resistant technology for cryptocurrency, rather than delaying the transition for efficiency gains.

He has been a strong proponent of AI, frequently backing AI-powered solutions to help combat the AI threats to cryptocurrency security.

Notably, AI safety researcher Roman Yampolskiy warned in August that advanced AI systems could become “really amazing hackers,” making it nearly "impossible" for the average person to keep their Bitcoin (CRYPTO: BTC) secure.

Price Action: As of this writing, ETH is down 2.00% in the last 24 hours to $2,567, according to Benzinga Pro. 

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Ethereum Foundation researcher Justin Drake has urged crypto holders to prepare for a possible AI-assisted break of ECDSA, warning on Oct. 7 that a worst-case failure could arrive “in months not years” before quantum computers pose the expected threat.

Summary

Justin Drake urged crypto holders to plan moves toward fresh addresses with unexposed public keys. Vitalik Buterin backed taking AI cryptography risks seriously but warned users against rushing wallet migrations. Ethereum already has a dedicated post-quantum team targeting core quantum-resistant infrastructure around 2029 for completion. NIST standardized hash-based SLH-DSA in 2024, providing an established post-quantum signature option for digital systems. Project Eleven tracks millions of Bitcoin addresses with exposed public keys that could face attacks. Drake’s Oct. 7 post on X called for the blockchain industry to begin calmly planning for what he described as “bunker mode.” His proposal centers on gradually moving funds into fresh addresses whose public keys have not been exposed, with large holders and institutions taking the first steps. Drake repeatedly warned against panic and said a poorly managed migration could create its own risks.

The warning remains a risk scenario, not evidence that ECDSA has been broken. Drake defined his worst case as an attacker recovering a private key from a public key within roughly a week using available hardware such as a large GPU cluster. No working attack meeting that description has been published.

Why the Ethereum researcher wants fresh addresses ECDSA is used to authorize transactions from standard Ethereum accounts and plays a central role in securing Bitcoin wallets. A private key creates a signature, while the corresponding public key lets the network verify that signature without revealing the private key.

Ethereum’s official post-quantum documentation explains that an ordinary Ethereum account which has only received funds and never sent a transaction has not exposed its public key onchain. Once the account signs a transaction, its public key can be recovered from the signature. A future method capable of deriving a private key from that public key could therefore threaten remaining funds.

Drake recommended that holders who use an address move any remaining assets into another unused address after signing. He said the process could use addresses generated from the same seed phrase, meaning his immediate proposal does not require a new wallet format or new cryptographic algorithm. 

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 Bitcoin requires some extra distinction because not every unused address hides its public key. Project Eleven says address types including P2PK and Taproot can expose public-key information without prior spending, while address reuse exposes keys for several other address types. Its Bitcoin Risq List tracked more than 8.1 million BTC in addresses it classified as quantum-vulnerable in its Sept. 14 update.

Drake specifically pointed to the tracker while urging Binance, Bitbank, Robinhood, Bitfinex and Tether to examine their cold-storage setups. The tracker identifies addresses based on publicly visible key exposure; inclusion does not mean an attacker can currently derive their private keys.

Vitalik Buterin warns users not to rush Ethereum co-founder Vitalik Buterin has responded to the warning by supporting more caution around AI-assisted mathematics without calling for an immediate movement of funds.

Buterin said he “[doesn’t] recommend anyone scramble” to move money into new wallets today. He argued that crypto developers should still take AI-driven advances in mathematics seriously and reduce dependence on cryptography that could prove weaker than expected.

His concern extends beyond elliptic curves. Buterin said the concrete security of lattice-based cryptography could face pressure from AI-assisted mathematical discoveries over the next two years, though he did not claim any lattice system has been broken. He favors hash-based designs where they can be used and recommends more conservative parameters for systems that rely on lattices.

For individual holders, Buterin said keeping funds in addresses that have never made a transaction can be useful when it is easy to do safely. He warned that mistakes during rushed migrations can themselves cause losses, reinforcing Drake’s call for a controlled process instead of an emergency move.

OpenAI math release did not break ECDSA Drake tied the timing of his warning to rapid progress in AI-assisted mathematics, including OpenAI’s Oct. 6 publication of mathematical research produced by an internal frontier model.

OpenAI’s official announcement said the work covers a range of mathematical results and includes supporting proof material. The public repository currently contains 722 manuscripts across 372 result families, produced after the model was tested on roughly 4,000 research problems.

OpenAI did not announce an attack against ECDSA, RSA or cryptocurrency wallets. Its repository states that the results are at different stages of verification, that not every manuscript has a Lean formalization and that some unformalized results “could have issues.”

Drake interpreted the speed of recent mathematical advances much more aggressively, writing that “mathematical superintelligence is upon us.” He questioned whether new classical algorithms assisted by AI could find shortcuts against elliptic-curve systems before quantum computers become capable of running Shor’s algorithm at the scale needed to attack them. His timing remains a personal risk assessment rather than a demonstrated cryptographic break.

Ethereum’s current documentation takes a less urgent position on the established quantum threat. It states that no quantum computer today can break Ethereum’s cryptography and says current users do not need to take action solely because of quantum computing.

Ethereum is already preparing to replace vulnerable keys Ethereum began preparing for post-quantum threats before Drake’s latest AI warning. The Ethereum Foundation formed a dedicated Post-Quantum Security team in January 2026 and has been testing hash-based validator signatures, new proof systems and post-quantum interoperability across multiple client teams.

The network’s current plan includes leanXMSS, a hash-based signature design intended eventually to replace quantum-vulnerable validator signatures. Ethereum is pairing that work with leanVM, which is intended to aggregate much larger post-quantum signatures efficiently. The roadmap targets core post-quantum infrastructure around 2029, though Ethereum describes the date as a planning target that can change.

At the wallet level, EIP-8141 is intended to give accounts more freedom over how transactions are authenticated. Ethereum’s roadmap lists the proposal for the Hegotá upgrade, currently placed in 2027, which could eventually let an account adopt a quantum-resistant signature method without moving all assets into a different address format.

As crypto.news previously reported in its analysis of Ethereum’s quantum-resistance roadmap, the network is working on replacing vulnerable ECDSA and BLS signatures while reducing its reliance on cryptographic assumptions threatened by quantum computing. More recently, crypto.news reported that EIP-8141 could allow Ethereum accounts to rotate authentication methods without requiring the user to abandon the account itself.

Hash-based signatures already have an established standard outside Ethereum. The U.S. National Institute of Standards and Technology finalized FIPS 205 in 2024, creating SLH-DSA from SPHINCS+, a hash-based digital signature scheme designed for post-quantum security.

Institutional wallet providers have begun testing separate approaches. In related coverage, crypto.news reported that BitGo tested post-quantum MPC wallet signing with Silence Laboratories, while Coinbase is designing post-quantum custody infrastructure that can adapt to whichever signature methods major blockchains eventually adopt.

Drake is scheduled to address institutional participants on Nov. 12 in London at the Ethereum Institutional Forum. The official agenda lists a 10 a.m. session titled “Post-Quantum Ethereum,” followed by a technical roadmap discussion and live Ethereum Q&A.

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

Summary

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

BUY SIGNAL ON BITCOIN, ETHEREUM, AND XRP

1/5 🧵👇

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

AI Could Damage Crypto in 2 Years, Warns Ethereum's Vitalik Buterin

Several major cryptocurrencies have experienced renewed selling pressure, with each now testing significant support levels after failing to sustain recent gains. Ethereum, Hyperliquid (HYPE), XRP, and Zcash (ZEC) have all recorded notable declines, challenging short-term bullish momentum and raising the risk of deeper corrections if key supports do not hold.

HYPE shifts to downside risk near key supportHyperliquid, the native token of the decentralized exchange platform Hyperliquid, has faced another downturn after unable to reclaim its September highs. HYPE is currently trading around $88.60, retreating from an intraday peak above $92, as buyers struggle to maintain control following a consistent uptrend since August.

After rallying from $57 to a September high near $97.50, HYPE enjoyed comfort above its medium- and long-term moving averages. However, momentum has started to fade. The token corrected from its peak toward $85, attempted a recovery to $95, but failed to post a new high. With the latest daily red candle, analysts now see the short-term bullish setup under increased pressure, especially as the Relative Strength Index (RSI) approaches neutral, demonstrating waning buyer strength.

Immediate support is seen at $87-$88, aligning with the rising short-term moving average. More important support exists at $84-$85, where market participants previously stepped in aggressively. A breakdown under $84 could lead to additional losses toward $80-$82, while $75 becomes the next significant level below.

A recovery for bulls hinges on first reclaiming $92.50, then breaking out above $95-$97.50 to restart the broader rally. Without these, HYPE remains at risk of further downside, despite still holding its larger bullish structure.

Mini dictionary: Hyperliquid, a decentralized exchange protocol known for its order book-based trading and low latency execution, has become notable for its focus on fast, transparent on-chain trading without reliance on centralized intermediaries.

TokenCurrent PriceKey SupportRecent HighTrendHYPE$88.60$84-$85$97.50Short-term downside riskXRP$1.43$1.37-$1.40$1.65Bearish short-term structureZEC$1,325$1,280-$1,300$1,700Broad uptrend under correctionETH$2,560$2,500-$2,520$2,700At critical support After failing to regain the $95 area, HYPE faces short-term downside risk as support at $84-$85 now plays a crucial role in maintaining its bullish trend.

XRP tests critical supports after breaking downXRP, the digital asset associated with Ripple Labs, has seen its technical setup deteriorate after falling towards $1.43. The last several weeks saw XRP consolidating around $1.50, but a new selloff has pushed it below its rising short-term moving average, making the nearby support levels its next critical test.

Following a September rally to $1.65, XRP formed a series of lower highs at $1.55, $1.53, and $1.52. This downshift signaled fading bullish enthusiasm. Breaking below $1.45, previously both a support and the location of its fastest moving average, has shifted the outlook in favor of sellers.

Market focus now turns to the $1.37-$1.40 zone. This region holds both the medium-term moving average and longer-term technical support. If buyers cannot protect this cluster, a decline toward $1.30-$1.33 could rapidly unfold, erasing much of the asset’s previous recovery. Meanwhile, the RSI is slipping toward 50, consistent with declining momentum.

To reverse the immediate bearish outlook, XRP must reclaim $1.45, then move above $1.50, with larger resistance remaining at $1.55-$1.60. Until then, conditions continue favoring sellers in the near term.

XRP’s shift below $1.45 and its cluster of lower highs now put the emphasis on holding $1.37-$1.40 to avoid a deeper correction.

Zcash corrects but holds broader uptrendZcash, a privacy-focused cryptocurrency launched in 2016, is navigating a significant pullback after one of its strongest rallies in recent months. ZEC is currently trading around $1,325, down about 22% from a peak of roughly $1,700. Despite the intensity of the correction, the asset remains well placed above its medium- and long-term moving averages after a steady climb since August.

Short-term momentum has faded as a sequence of lower highs and lows pulled ZEC to $1,300. The crucial battleground lies at $1,280-$1,300, where the short-term moving average provides immediate support. The RSI also suggests that upside momentum has largely dissipated.

If ZEC closes the day below $1,280-$1,300, analysts expect potential extension of losses into the $1,170-$1,200 range, where structural supports remain stronger. Should these levels be lost, a move toward $1,000 may become likely. For a shift back to bullish sentiment, ZEC must first reclaim $1,400, with further resistance at $1,450-$1,500. A sustained break above $1,550 would put previous highs back in play.

Despite current weakness, holding $1,300 could spark another rebound, while losing this area would deepen the correction and threaten the broader uptrend.

Ethereum eyes pivotal support amid selloffEthereum, the world’s leading smart contract platform, has registered a sharp decline, sliding from an intraday high near $2,700 to approximately $2,560. This move ends a period of consolidation between $2,650 and $2,750 and pushes the asset below its short-term moving average near $2,630.

The latest sell-off saw RSI fall quickly toward the bottom half of its neutral range, while trading volumes spiked compared to recent sessions. This draws attention to the $2,500-$2,520 region as a key area which previously acted as September resistance and now aligns with rising medium-term moving averages.

If buyers defend $2,500, ETH may attempt a recovery toward $2,600 and then $2,680-$2,700. Overcoming $2,700 would neutralize current bearish sentiment, while major resistance remains at $2,780-$2,800. A breakdown below $2,500, however, would signal further weakness, with new support at $2,400-$2,450 and then $2,300-$2,350.

While Ethereum’s broader uptrend is technically intact, traders are closely watching the reaction at $2,500, which is likely to determine whether this move remains a short-term correction or develops into a deeper bearish reversal.

THE BLOCK: Ethereum researcher Justin Drake calls for 'bunker mode' planning over private key recovery risk

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OUSD’s Ethereum supply has reached $100.6 million, roughly 10 times its late-September level. First-week blockchain analysis shows much of OUSD’s broader supply was initially staged with partners, custodians and market makers. Only about $4.1 million in DEX volume was recorded across four networks through Oct. 5. Open Standard financially rewards partners for both the OUSD supply and activity they generate. Open USD has crossed $100 million in market capitalization on Ethereum, extending one of the fastest stablecoin launches of the year.

Token Terminal data shows $100.6 million of OUSD now issued on Ethereum, compared with roughly $10 million around the end of September. The increase comes barely a week after Open Standard launched the stablecoin across Ethereum, Base, Solana and Tempo on Sept. 30.

Open USD (OUSD) market cap on Ethereum just crossed $100M, reaching $100.6M

Up from roughly $10M at the end of September, a ~10x increase in about a week https://t.co/DLyLVvdDSN

— Token Terminal 📊 (@tokenterminal) October 7, 2026

The headline growth is substantial. The transactions behind OUSD’s first week, however, show that much of its early expansion has come from deliberately positioning liquidity across Open Standard’s distribution network rather than hundreds of millions of dollars suddenly appearing through decentralized trading.

That distinction can now be quantified.

Bridge Minted OUSD Before Demand Arrived An Oct. 6 analysis by blockchain intelligence firm Crystal Intelligence traced the first week of OUSD issuance and found that Bridge, the Stripe-owned company issuing the stablecoin, had minted approximately $717 million across the four supported networks. About $666.3 million remained outstanding as of Oct. 5.

The issuance was highly structured.

Bridge initially minted about $9.99 million on each network on Sept. 23, a week before the public launch.

Another $439.5 million was minted on Tempo on Sept. 29, followed by $50 million on each of the four networks on Oct. 1, when Coinbase support went live.

After those allocations, issuance slowed sharply. Crystal found that Bridge minted approximately $1.2 million and burned $3.4 million between Oct. 2 and Oct. 4, producing a net supply decline of roughly $2.2 million over the period.

That sequence provides useful context for Ethereum’s latest increase. OUSD was launched with substantial inventory deliberately placed across several chains and distribution partners rather than relying entirely on gradual organic minting after launch.

Ethereum Is Now Catching Up The chain distribution was heavily tilted toward Tempo only days ago.

Crystal’s Oct. 5 snapshot showed $472.8 million on Tempo, representing 71% of outstanding OUSD. Ethereum held $60.4 million, while Solana had $68 million and Base $65 million. Crystal Intelligence

The latest Token Terminal reading of $100.6 million on Ethereum therefore implies an increase of roughly $40 million from Crystal’s earlier snapshot.

That is a more informative development than simply comparing the current balance with the roughly $10 million visible before launch. It suggests Ethereum’s allocation has continued expanding after the large, coordinated mints that established OUSD’s initial liquidity.

Open Standard confirms that OUSD is issued natively on all four networks rather than existing solely as an Ethereum token bridged elsewhere. Its official Ethereum contract is 0x9f6F3991D525015a6F8CaF062C83b62fD3AC4436.

The next question is where that additional Ethereum supply is going.

Ten Wallets Held 74% of OUSD Concentration provides another check on the headline market capitalization.

Crystal found that the 10 largest wallets controlled 74% of total OUSD supply in its Oct. 5 snapshot. Eight Bridge-funded wallets on Tempo alone still held approximately $396 million.

Those balances should not automatically be interpreted as 10 ultimate owners. Custody addresses and infrastructure wallets can represent assets belonging to multiple customers, while blockchain data cannot reveal beneficial ownership behind every address.

But the concentration does show how early OUSD remains in its distribution cycle.

The same analysis identified roughly $4.1 million in decentralized exchange volume across all four networks between Sept. 30 and Oct. 5. Solana accounted for approximately $3.4 million and Base about $700,000, while

Ethereum recorded no DEX volume in Crystal’s measurement window.

The comparison is striking: hundreds of millions of dollars of OUSD had already been issued, but decentralized trading represented only a small fraction of that amount during the first six days.

It does not capture every way OUSD can be used. Institutional transfers, centralized exchange activity, custody movements and payments can occur outside DEXs. Still, it gives the market an observable baseline against which later activity can be measured.

Open Standard Pays Partners to Build Supply The issuance pattern also reflects how OUSD was designed.

Open Standard does not follow a model in which the issuer simply retains nearly all income generated by stablecoin reserves. Instead, it says partners receive reserve earnings, less a management fee, based on the supply and activity they generate.

That creates a direct economic incentive for participating companies to distribute OUSD.

The network already includes more than 200 financial institutions, fintechs, banks and other businesses, while Coinbase, Mastercard, Shopify, Stripe and Visa are founding partners.

OUSD can also be minted and redeemed at 1:1 dollar parity without minting or redemption fees through supported integration providers. Stripe, Mastercard, Coinbase and Visa provide different combinations of settlement, trading, wallets, payments, custody, FX and on- and off-ramp infrastructure.

The early supply numbers consequently measure more than consumer demand for a new stablecoin. They also reflect a distribution system intentionally built to place OUSD with companies capable of generating future transactions.

$100 Million Gives Ethereum a Better Benchmark Ethereum’s new $100.6 million reading becomes useful because there is now a first-week baseline against which to compare it.

On Oct. 5, Crystal measured $60.4 million of OUSD on Ethereum and essentially no Ethereum DEX volume during its six-day observation period. The latest Token Terminal figure puts supply above $100 million.

If trading liquidity, transfers and holder distribution begin increasing alongside that balance, the nature of OUSD’s Ethereum growth will look different from its initial inventory placement. If activity remains limited while supply continues rising, issuance will remain the dominant explanation.

The comparison can also be repeated across Base, Solana and Tempo because Open Standard launched the same asset natively on all four networks at once.

For OUSD, the first week established scale extraordinarily quickly. The second phase can now be measured against harder numbers: where the tokens move, how concentrated they remain and how much transaction activity the initial $666 million-plus supply actually generates.

Alex is a financial markets journalist and co-founder of Millennial Media Group, and he's spent close to ten years trying to answer one stubborn question: what's really driving this? It started in 2016, when Bitcoin refused to make sense to him - and rather than shrug, he stayed with it until it did. That patience became his method. He's less interested in what an asset is doing today than in the plumbing behind it: how liquidity flows, where risk hides, what a chart is quietly telling you that the headline isn't. That lens eventually stretched well past crypto into traditional markets, because the same forces - fear, leverage, incentives, timing - show up everywhere once you know how to look. Most coverage, in his view, insults the reader by stopping at the surface. Price up, price down, moving on. He'd rather leave someone genuinely understanding a move than merely informed that it happened. His path into markets ran through a Tourism degree at New Bulgarian University - proof, maybe, that curiosity beats credentials. With more than 200 deep analyses and over 10,000 articles behind him, he still walks away from most trading days having learned something he didn't know that morning.

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Ethereum researcher Justin Drake is urging the crypto community to start planning for what he calls "bunker mode", as he claims the ever-growing leaps in AI might threaten Bitcoin, Ethereum, and other key blockchain networks.

The researcher is encouraging big and sophisticated crypto players to start thinking about a controlled movement of funds to new addresses with public keys never seen on-chain.

"Today I call upon the blockchain industry to calmly start planning for ‘bunker mode," wrote Drake.

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He has proposed such a plan as a way to limit the possible fallout of a theoretical breakthrough that would make it possible to get private keys from visible public keys.

Notably, Drake asked users not to panic and move in a rush. Instead, he framed this measure as a prevention that can be done today with current wallets and crypto infrastructure.

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Will AI break ECDSA?The issue raised by Drake pertains to the Elliptic Curve Digital Signature Algorithm (ECDSA), a common way to approve crypto transactions.

The Ethereum researcher says that it is now time to think about a theoretical extreme case. That is, ECDSA could be broken by classical computers before we reach the power of quantum computers (usually called "Q-day").

In the worst-case scenario, this kind of hypothetical breakthrough would allow us to extract a private key from a public key in approximately 1 week, with existing hardware. 

At the moment, there is no publicly known attack that can do that on the curves adopted in key cryptos. This is not a warning to react to a compromise. It is a warning to prepare for a theoretical future breakthrough.

In Drake's view, as AI gets more advanced, we may see an explosive speed of mathematical discoveries, with the possibility of finding algorithms that may escape human eyes.

In support of his thesis, he mentions a few recent mathematical advancements that shattered long-time assumptions. It shows that even well-established conjectures and complexity bounds can be unexpectedly broken.

Drake also mentions OpenAI's recent developments in mathematical reasoning. He says that "mathematical superintelligence" could offer a never-before-seen speed of mathematical discoveries.

"Could our magic 64-byte ECDSA signatures be too good to be true?", asks the researcher.

Nonetheless, Drake always insisted that at this stage it's a matter of preparation, not panic. There is no evidence that AI has broken ECDSA, RSA, or the crypto fundamentals of Bitcoin and Ethereum.

Ethereum researcher Justin Drake has called on the cryptocurrency community to prepare for the possibility that rapid advances in artificial intelligence could threaten the security of major blockchain networks, including Bitcoin and Ethereum.

Concerns about AI and cryptographyDrake, known for his contributions to Ethereum’s research and development efforts, is promoting what he terms a “bunker mode” approach for digital asset holders. He encourages sophisticated investors and institutions to plan for organized fund migrations to wallets secured by public keys never before used on-chain.

He explained that this proposed measure aims to mitigate the hypothetical risk of an unforeseen development in mathematics or AI that could expose private keys derived from public keys, threatening holdings across blockchains.

Drake made clear that he is not suggesting users move in haste or panic. Instead, he recommends a calm and preventive update of wallet addresses using the cryptographic tools already available in the ecosystem.

Today I call upon the blockchain industry to calmly start planning for ‘bunker mode’—a precautionary step rather than a reaction to any existing threat, Drake wrote.

The ECDSA vulnerability debateThe main technical concern highlighted by Drake centers on the Elliptic Curve Digital Signature Algorithm (ECDSA), which is widely used to secure cryptocurrency transactions. He raises the possibility that classical computers, aided by AI, might eventually compromise ECDSA security even before advancements in quantum computing reach a critical threshold commonly referred to as “Q-day.”

If such a breakthrough occurred, Drake warned, it could become possible to extract private keys from visible public keys in as little as one week, using existing hardware. This outcome would place user funds at immediate risk.

Currently, no public research indicates that this kind of attack is possible against the types of elliptic curves chosen for Bitcoin, Ethereum, and other major cryptocurrencies. Drake emphasized that his call is for preparing for unlikely but impactful scenarios, rather than a reaction to any present compromise.

Mini dictionary: ECDSA (Elliptic Curve Digital Signature Algorithm) is a cryptographic system used by many blockchains to verify digital signatures, ensuring that only the owner of a private key can authorize transactions. Security of ECDSA is fundamental to the safety of most cryptocurrencies.

AI’s increasing mathematical capabilitiesDrake highlighted recent progress in artificial intelligence, particularly in mathematical reasoning, as a reason for renewed vigilance. He pointed out examples where widely accepted mathematical boundaries and conjectures have been overcome in unexpected ways, arguing that advanced AI could accelerate discoveries and even devise novel algorithms that might go unnoticed by human experts.

Citing efforts by organizations such as OpenAI, Drake noted the emergence of “mathematical superintelligence” as a realistic prospect, stating that this could conceivably disrupt cryptographic assumptions once considered unbreakable. “Could our magic 64-byte ECDSA signatures be too good to be true?” he asked, reflecting on whether increasing AI sophistication might soon introduce new vulnerabilities.

There is no evidence that AI has compromised ECDSA, RSA, or the fundamentals underpinning Bitcoin and Ethereum security, but rapid advances warrant proactive planning, Drake indicated.

Throughout his statements, Drake consistently underscored the importance of preparation over panic, clarifying that the industry still has time to make precautionary moves without rushing.

In brief Ethereum Foundation researcher Justin Drake called on the industry to plan for "bunker mode" by gradually moving funds to addresses whose public keys haven't been exposed. He said ECDSA, the signature scheme behind Bitcoin and Ethereum, could break before Q-Day, in the worst case "in months not years," citing rapid AI-driven math advances. Drake urged holders not to panic or rush, and said he'll push to accelerate Ethereum's shift to hash-based cryptography. Justin Drake has spent years warning that quantum computers could one day crack crypto's cryptography. Now the Ethereum Foundation researcher says artificial intelligence might get there first.

"Today I call upon the blockchain industry to calmly begin planning for 'bunker mode,'" Drake wrote on X on Wednesday. His recommendation is a controlled, mass migration of funds to fresh addresses that have never signed a transaction, which keep their public keys hidden behind a hash.

Myriad: Where does Ethereum go next? Click to make your prediction.The concern centers on ECDSA, the signature scheme Bitcoin and Ethereum use to prove a transaction was authorized by the right private key. When a wallet signs a transaction, its public key becomes visible on-chain. If ECDSA were broken, an attacker could work backward from that public key to the private key and drain the wallet.

Drake said it's now reasonable to prepare for ECDSA breaking before Q-Day, the moment quantum computers become powerful enough to crack today's encryption, "in the worst case in months not years." By "break," he meant recovering a private key in about a week on available hardware such as a large GPU cluster.

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

He pointed to a burst of AI-driven math, including 722 results OpenAI published Tuesday, as a sign that long-held assumptions are falling. "Elliptic curves feel especially vulnerable to superintelligence," he wrote. He argued that their rich mathematical structure leaves room for clever attacks that hash functions are designed to resist.

Drake stressed that holders shouldn't rush or panic, noting that moving assets requires no new cryptography or wallets. He urged Binance, Bitbank, Robinhood, Bitfinex, and Tether to harden their cold storage. He also said wallets holding less than 50 BTC enjoy partial cover from what he called "Satoshi's shield": roughly 20,000 exposed addresses tied to Bitcoin's creator, each holding 50 BTC, which would likely be targeted first.

The warning marks a sharp escalation in the anxiety around the ability of crypto’s security to be broken. In March, after a Google paper suggested quantum computers could break crypto's cryptography sooner than expected, Drake put the odds of Q-Day by 2032 at 10% or more.

The Ethereum Foundation formed a dedicated post-quantum team earlier this year, and co-founder Vitalik Buterin has laid out plans to move the network toward quantum-resistant cryptography.

Drake said Ethereum's roadmap toward hash-based cryptography should now be accelerated. "I'll be pushing for maximum defensive acceleration," he wrote.

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Ethereum has continued to edge higher in recent weeks, approaching significant technical thresholds as market participants weigh its next move. At the time of writing, the cryptocurrency is priced at $2,698.68, having slipped 0.42% in the past 24 hours.

Technical outlook: Resistance and support levels in focusEthereum is currently trading above several key exponential moving averages. The 20-day EMA stands at $2,656.14, acting as immediate dynamic support. Other important levels include the 50-day EMA at $2,500.94, the 100-day EMA at $2,329.60, and the 200-day EMA at $2,293.37. The latest price action has positioned Ether in the vicinity of $2,700, a resistance level closely tracked by traders.

The digital asset, which underpins the Ethereum mainnet—a decentralized open-source blockchain hosting smart contracts—has rebounded from previous lows. Some analysts believe a clear break above the resistance could reinforce the ongoing uptrend, while rejection at this level might prompt a pullback toward the $2,656 area before another potential upward attempt.

EMA PeriodPrice Level20-day EMA$2,656.1450-day EMA$2,500.94100-day EMA$2,329.60200-day EMA$2,293.37Elevated open interest and robust network activity are contributing factors to the current setup, providing broader context for price movements.

Analyst insights and possible price scenariosTed Pillows, a crypto market analyst with an active following on X, has drawn attention to Ethereum’s price behavior, noting the steady climb without recent retests of lower support levels. According to his assessment, if Ether can break through the current range, the price could target higher resistance. However, Pillows cautioned that a retest of recent lows remains probable before any substantial move higher.

While $ETH has been grinding higher for weeks with the lows untouched, Ted Pillows observes that these levels are likely to be retested before the next big price movement.

Traders are closely monitoring how Ethereum reacts around $2,700, as this will likely set the tone for either a sustained breakout or another period of consolidation.

Derivatives activity and DeFi metricsRecent data from crypto analytics platform CoinGlass reveals that Ethereum’s open interest has remained elevated, holding above $30 billion since a surge in August. Strong derivatives positioning could provide additional momentum during decisive moves, but may also intensify volatility if leveraged positions get unwound.

Looking at the broader ecosystem, DeFiLlama reports Ethereum’s total value locked hovers near $54 billion, reflecting continued activity within the decentralized finance sector. Active-address numbers have held up but exhibit variability over time.

These persistent signs of network engagement and liquidity shape the background for Ethereum’s ongoing price recovery. However, technical and derivatives indicators remain pivotal in determining the short-term direction.

For now, $2,656 serves as a crucial near-term support. Price action around the $2,700 region remains central to short-term forecasts, as a decisive breakout may open up further gains, while a rejection could see another test of established supports.

Mini dictionary: CoinGlass is a digital asset analytics platform providing data on derivatives metrics such as open interest, funding rates, and liquidations. DeFiLlama is a data aggregator tracking the total value locked (TVL) and activity across leading decentralized finance protocols and blockchains.

Persistent DeFi liquidity and heightened derivatives activity continue to offer context for Ethereum’s recovery, but analysts stress that convergence of these indicators does not guarantee a clear breakout.

The timing coincides with renewed optimism around a $6,000 Ethereum price prediction and the return of the $1 Dogecoin debate. RTX is currently priced at $0.23, while the project has announced $0.46 as its final presale price before the November debut. Remittix is progressing toward a $36 million hard cap, leaving a limited remaining allocation after...

MAJURO, Marshall Islands, Oct. 07, 2026 (GLOBE NEWSWIRE) -- Remittix has confirmed November 24, 2026 as the scheduled launch date for RTX, giving its community a defined countdown from presale participation to public-market trading.

The announcement follows more than $32 million in funding from over 40,000 participants. Remittix has also opened PayFi access to 1,000 selected holders, allowing users to test its core crypto-to-bank product.

The timing coincides with renewed optimism around a $6,000 Ethereum price prediction and the return of the $1 Dogecoin debate. Remittix, meanwhile, approaches its first market cycle with working products, a confirmed date and a prelaunch valuation.

November 24 Gives RTX a Defined Route to Market

The scheduled launch date transforms the Remittix roadmap into a time-bound market event. RTX is currently priced at $0.23, while the project has announced $0.46 as its final presale price before the November debut.

Remittix is progressing toward a $36 million hard cap, leaving a limited remaining allocation after crossing $32 million. The final countdown creates a clear decision window for buyers evaluating RTX before public exchange trading introduces open-market demand and liquidity.

The project is testing EUR and USD routes with its first 1,000 PayFi users. It supports crypto-to-fiat and fiat-to-crypto activity, including USDT and USDC across Ethereum, Celo, Base and Polygon.

Remittix Is Launching More Than a Payment Token

TheRemittix platform is designed as a connected crypto-finance hub. Its core PayFi service aims to let users send supported digital assets while recipients receive fiat through compatible bank accounts, addressing friction in remittances, contractor settlements, international business payments and crypto withdrawals.

Remittix Markets is already live, provides access to hundreds of perpetual trading pairs and has processed more than $50 million in volume. The iOS wallet has surpassed 10,000 downloads, an Android edition is awaiting approval, and Remittix Earn is nearing release with advertised yields of up to 22% APY on eligible assets.

The planned wallet rebuild will connect PayFi, Markets and Earn inside one application, potentially exposing RTX to payment volume, active trading and deposited assets.

Ethereum and Dogecoin Revive Large-Cap Bull Cases

Ethereum recently traded near $2,600. Reaching $6,000 would require an advance of approximately 131%, placing that Ethereum price prediction inside a powerful bull-market scenario driven by ETF demand, staking, stablecoin settlement and expanding tokenization activity.

Dogecoin has been trading near $0.09. A move to $1 would require more than a tenfold increase, making it a far more ambitious scenario tied to retail participation, ETF demand and another major meme-coin cycle.

Those forecasts show the upside still discussed for established cryptocurrencies. Remittix offers an earlier setup: a new crypto preparing for public markets while users already test its financial application.

A Product-Led Launch Could Separate RTX From the Crowd

The November 24 debut will bring several growth engines together. PayFi can create payment activity, Markets can attract traders, the wallet can serve as the gateway and Earn can draw assets seeking yield. As allocation narrows, the path from $0.23 to the $0.46 final tier puts greater focus on the period before public trading.

About Remittix

Remittix is building a connected PayFi ecosystem focused on crypto-to-bank and bank-to-crypto payments. The project combines payment settlement, Remittix Markets, a mobile wallet and the forthcoming Remittix Earn product.

Website: https://remittix.io
X:https://x.com/remittix

Media contact:
[email protected]

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Remittix Source: Remittix

Ethereum researcher Justin Drake on Wednesday laid out how holders can protect their coins if AI cracks wallet security. His main step is moving funds to brand-new addresses that have never sent a transaction.

The move needs no new software or wallets. However, Drake said a break could come within months in the worst case, while warning that a rushed exodus would do more harm than good.

How Drake Says to Protect Your CoinsDrake recommends 4 steps, starting with the largest and most experienced holders.

Move most funds to a never-used address.
An address that has never sent coins keeps its owner’s key hidden.

Switch addresses after every spend.
Once coins leave an address, the rest should go to a fresh one. It can come from the same seed phrase, the backup word list that restores a wallet.

Do not rush or panic.
Drake called the step simple and preventive, not an emergency.

Know where you stand.
Wallets under 50 Bitcoin (BTC) have partial cover, he said, from about 20,000 early exposed addresses holding 50 BTC each.

“Don’t rush. While I believe there is cause for action a rushed migration would do more harm than good,” he warned.

Why a Fresh Address Works as a DefenseEvery crypto wallet has a private key, a secret code that approves payments, and a matching public key.

A never-used address shows only a scrambled fingerprint of the public key, called a hash. The full key appears on the blockchain, crypto’s public ledger, at the first spend.

Drake fears AI could help attackers work backward from a visible public key to the private one. He pointed to OpenAI’s release this week of 722 AI-written math papers.

None of the results he named deals with wallet math. No published research shows Bitcoin or Ethereum (ETH) cryptography has been broken.

Still, about 6.04 million BTC already sits behind visible keys, according to analytics firm Glassnode. BeInCrypto cited that figure earlier Wednesday in coverage of Europol’s quantum wallet warning.

Drake named Binance, Robinhood, Bitfinex, and Tether as firms that could harden their offline reserve wallets. He also said Ethereum’s switch to standard SHA or BLAKE hash-based security must now speed up.

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

Summary

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ethereum (ETH) experienced a sharp decline over the past 24 hours, falling 5.6% to $2,558.66, according to CoinGecko. The cryptocurrency’s seven-day losses reached 5.86%, with daily trading volume standing at approximately $18.76 billion.

Analysts watch key ETH support levelsMarket analyst Ali Charts noted that ETH broke below its established price channel, positioning $2,540 and $2,500 as the next key support zones. A further slide to $2,500 could increase downward pressure across altcoins.

Ali Charts questioned whether ETH is leading the current market correction, with major projects like Solana potentially tracking its moves. He highlighted the importance of the $2,500 level if ETH’s weakness continues.

ETH broke below its channel support first, putting $2,540 and $2,500 as visible downside levels. Whether Solana follows ETH’s move lower depends largely on whether Ethereum can hold above these new support zones.

Trader Crypto Patel identified $2,562 as a decision point for ETH. If the daily close falls below this level, Patel does not plan to enter new positions and will monitor the next higher low. The trader has outlined an accumulation zone between $2,053 and $1,868, where several technical indicators—such as the 0.5 to 0.618 Fibonacci retracement, a fair value gap, and a bullish order block—overlap.

The fair value gap indicates an area where price changed too rapidly for buy and sell orders to fill, while an order block marks a region where substantial institutional buying previously occured.

Patel emphasized that he would consider accumulation only after confirmation of a bullish market structure shift at those levels, indicating a clear return of buyer interest. The trader also watches the 0.786 Fibonacci level near $1,717 for potential sharp liquidity moves, but maintains that long-term upside targets of $5,000 and $10,000 remain speculative rather than supported by current data.

Mini dictionary: Fair value gap – A price region on the chart where the asset moved rapidly, leaving little buy or sell orders behind, often seen as an area to watch for possible price reversals.

Solana maintains support amid market weaknessSolana (SOL) traded at $115.85, down 4.14% on the day and 4.66% for the week, with a daily volume of $3.10 billion. According to CoinGecko, SOL remains above the first support level at $114 after briefly losing traction at the $120 area.

Ali Charts pointed to $114 as the initial downside target for Solana in the case of continued selling. Should SOL lose $114 decisively, the analyst pointed to $110 as the next area at risk. However, a recovery and close above $120 could weaken the bearish setup for SOL.

Trader Wealthmanager analyzed Solana on a lower-timeframe basis, noting that while SOL holds the lower end of its trading range near $117.70, momentum has faded. A descending trendline on Binance’s charts from recent highs signaled weakness among buyers.

As RSI continues to form lower highs while price remains steady, buyers appear to be losing control. A break out of the current range will likely determine the next major direction for $SOL, according to the trader’s four-hour chart analysis.

The relative setup between ETH and SOL stands out. While ETH has recorded a sharper breakdown, SOL continues to hold just above key support. Analysts suggested that if ETH continues to fall past $2,562 and $2,500, SOL could lag and then see accelerated losses should $114 fail.

Solana’s substantial 24-hour trading volume and its position just above major technical support keep the focus on its short-term price action. Current analyst levels are guideposts, rather than predictions.

CryptocurrencyPrice24h Change7d ChangeKey SupportsEthereum (ETH)$2,558.66-5.6%-5.86%$2,540 / $2,500Solana (SOL)$115.85-4.14%-4.66%$114 / $110

Will the Crypto Market Repeat 10-10? Here's What the Data Says

Hunter Biden blamed market makers for the sharp drop in the LAPTOP token following its launch, and denied that his team had cashed out.

Hunter Biden, son of former US President Joe Biden, published a post revealing independent investigation findings into the LAPTOP token launch, stating he has hired forensics firm Groom Lake to review all transactions on the token’s launch day. He denied his team engaged in insider selling, noting founder tokens remain in the same wallet and have not moved since launch; his personal tokens are locked for six months, then will vest over two years. Citing the investigation, he said Market Maker 1 held $500,000 in startup capital but only deployed roughly $5,200 and fewer than 30,000 tokens to the liquidity pool—just 0.003% of total supply. The extremely low liquidity pushed the token’s price from $0.05 to around $317 in under two minutes, before plunging 98% within an hour. 84 seconds after the price peaked, Market Maker 1 withdrew its funds during the sell-off, draining on-chain liquidity available to absorb sales at near-current prices from $16,157 to zero. He claimed Market Maker 1 earned roughly $686,000 from its DEX position, while Market Maker 2 netted over $2.1 million from related DEX trades, and argued the market makers responsible for the launch issues should repurchase and burn the tokens. He said he takes full ultimate responsibility, will not exit the project, and plans to burn most unclaimed tokens from the initial airdrop next week—this airdrop made up 10% of the total token supply.

2 minutes ago

Trader Boomer goes long on PUMP, with an unrealized profit of approximately $2.19 million.

According to TradingBeats’ monitoring, Boomer (Twitter handle @solanadoomer1) holds approximately 2.684 billion long positions in PUMP via Hyperliquid address 0xbf73. The position is valued at around $17.32 million, with 10x leverage, an average entry price of roughly $0.00564, current unrealized profit of about $2.19 million, and a position return of approximately 145%. The address opened the current PUMP long position roughly 8 days ago and has held it continuously since. PUMP’s current price is up around 14.5% from its average entry price. As of press time, the PUMP perpetual contract price on Hyperliquid stands at $0.00645, up roughly 1.3% over the past 24 hours.

2 minutes ago

A U.S. government address has once again transferred 750.2 WBTC to Coinbase Prime, valued at approximately $62.34 million.

According to on-chain analyst Yu Jin’s monitoring, after transferring $103 million in assets early this morning, the U.S. government address moved 750.2 WBTC (valued at $62.34 million) to Coinbase Prime 15 minutes ago. Over the past 24 hours, the address has transferred a total of $165 million in assets, with 1,583.8 BTC (valued at $134 million) flowing into Coinbase Prime.

2 minutes ago

Crypto figure 'Maji' still faces an unrealized loss of over $4 million on his nearly $100 million Ethereum (ETH) position.

According to TradingBeats monitoring, crypto figure "Maji" (Huang Licheng) currently holds around 38,400 ETH long positions on Hyperliquid, with the position valued at approximately $98.7 million. The position uses 25x full leverage, with an average entry price of ~$2,679, resulting in an unrealized loss of roughly $4.06 million and a return of about -99%. During today’s market pullback, Maji briefly reduced his ETH long positions to around 35,700 units before increasing his long exposure again; his current holding has rebounded to ~38,400 ETH. As of now, ETH trades at ~$2,573, and the position’s estimated liquidation price is ~$2,507, roughly 2.5% below the current market price.

2 minutes ago

Injective releases new whitepaper, focusing on institutional-grade finance and tokenization.

Injective has released a new version of its whitepaper, marking the first full rewrite since the original launch in December 2018. The initial whitepaper centered on a front-running-resistant trading protocol built on Ethereum, while the updated version positions Injective as a Layer 1 blockchain for institutional-grade finance and asset tokenization, covering the full lifecycle of tokenized assets—from issuance and trading to settlement. The whitepaper details a native real-world asset (RWA) tokenization framework that establishes role-based permissions for minting, transferring, receiving, and burning assets. Its iAssets feature leverages stablecoin margin and oracle pricing to offer derivatives tracking external assets, eliminating the need for wrapping or pre-funding. Tokenized assets are traded on a fully on-chain central limit order book (CLOB), with sealed high-frequency batch auctions executed per block to clear at a uniform price, mitigating front-running and transaction-ordering miner extractable value (MEV). Byzantine Fault Tolerant (BFT) consensus delivers deterministic finalization, with block times averaging around 600 milliseconds. The new whitepaper also covers native Ethereum Virtual Machine (EVM) and WebAssembly (WASM) environments sharing a unified state, perpetual contract risk management, and AI agent finance. AI agents can interact with tokenized assets via MCP servers, strategy-constrained signatures, and x402 machine payments denominated in USDC. On-chain protocol revenue will be allocated to regular INJ community buyback programs.

2 minutes ago

The U.S. New York Fed’s 1-year inflation expectation for September came in at 3.9%, exceeding the forecast of 3.64%.

US September the New York Fed’s 1-year inflation expectation comes in at 3.9%, against a consensus estimate of 3.64%, with the prior reading standing at 3.58%.

2 minutes ago

Bitmine Immersion Technologies Chairman Tom Lee (@fundstrat) turned heads at Token2049 Singapore on Wednesday, formally declaring that the company will stop buying $ETH once its holdings reach 5% of Ethereum's total circulating supply.

A Hard Cap on Ethereum Accumulation Speaking from the keynote stage, Lee described the threshold as a firm ceiling rather than a moving target.

The announcement effectively closes out Bitmine's so-called "Alchemy of 5%" campaign, which That door now appears shut, at least for the current strategy cycle.

What the Cap Means for Bitmine and the Market Lee tied the ceiling directly to Bitmine's capital strategy, arguing that locking in a hard stop removes the need to keep raising funds.

That staking income means Bitmine will continue to accumulate small amounts of $ETH passively even after active purchases stop, a nuance Lee acknowledged.

Sources:
CoinTelegraph: BitMine Sets 5% Ether Supply Hard Cap as Accumulation Target Nears
Bitcoin.com News: Tom Lee's Bitmine Nears 5% of Ether Supply With $41M ETH Buy
CoinGape: Tom Lee's BitMine Adds $41M in ETH as Holdings Reach 6.02M Tokens

Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) on Wednesday pulled back 2.5% and 4.5%, respectively, while XRP (CRYPTO: XRP) is down 3.5% to $1.44.

The slide tests whether the market’s recent comeback can withstand profit-taking as traders watch key support levels.

Prominent analyst CoinTraderNik said Bitcoin is nearing critical point that could determine whether the current decline remains consolidation or develops into a deeper correction.

Futures traders are building shorts, but spot-market signals suggest bears have yet to force a breakdown. This raises the possibility of a short squeeze.

The key level is $82,800 and a break below would favor bears, while holding the range into the weekly close could force shorts to unwind.

Why Is the BTC Trend Stuck? CryptoQuant data shows that Bitcoin is trading above the trader on-chain realized price, which estimates the average cost basis of active market participants.

That level currently sits near $68,900, while the model’s upper band is around $96,500.

Bitcoin’s move toward the upper band also leaves active traders sitting on larger unrealized profits, increasing incentives to take gains.

A pullback toward the $68,900 realized price followed by a rebound would indicate buyers are absorbing that selling pressure.

Sustained trading below the level and a failed reclaim would instead weaken the recovery structure.

What Will Drive Crypto’s AdoptionDespite range-bound prices, Injective CEO Mirza Uddin says improving regulatory clarity, faster tokenization and broader ETF access are strengthening the foundation for crypto adoption.

He added that crypto’s recovery is being supported by regulatory developments even after Congress failed to pass the CLARITY Act.

Tokenization is another major catalyst as significant worth of stocks, bonds, real estate and other assets are already moving on chain.

In a Schwab Network interview on Tuesday, Uddin highlighted ETFs as a major bridge between crypto and traditional investors.

He said ETH’s recent relative strength has partly reflected growing demand through Ethereum ETFs, while additional crypto ETF launches could extend that accessibility to more assets.

Image: Shutterstock

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

BARRONS: Bitcoin, XRP, Ethereum Drop as Cryptos Face a Perfect Storm

Injective releases new whitepaper, focusing on institutional-grade finance and tokenization.

Injective has released a new version of its whitepaper, marking the first full rewrite since the original launch in December 2018. The initial whitepaper centered on a front-running-resistant trading protocol built on Ethereum, while the updated version positions Injective as a Layer 1 blockchain for institutional-grade finance and asset tokenization, covering the full lifecycle of tokenized assets—from issuance and trading to settlement. The whitepaper details a native real-world asset (RWA) tokenization framework that establishes role-based permissions for minting, transferring, receiving, and burning assets. Its iAssets feature leverages stablecoin margin and oracle pricing to offer derivatives tracking external assets, eliminating the need for wrapping or pre-funding. Tokenized assets are traded on a fully on-chain central limit order book (CLOB), with sealed high-frequency batch auctions executed per block to clear at a uniform price, mitigating front-running and transaction-ordering miner extractable value (MEV). Byzantine Fault Tolerant (BFT) consensus delivers deterministic finalization, with block times averaging around 600 milliseconds. The new whitepaper also covers native Ethereum Virtual Machine (EVM) and WebAssembly (WASM) environments sharing a unified state, perpetual contract risk management, and AI agent finance. AI agents can interact with tokenized assets via MCP servers, strategy-constrained signatures, and x402 machine payments denominated in USDC. On-chain protocol revenue will be allocated to regular INJ community buyback programs.

4 minutes ago

The U.S. New York Fed’s 1-year inflation expectation for September came in at 3.9%, exceeding the forecast of 3.64%.

US September the New York Fed’s 1-year inflation expectation comes in at 3.9%, against a consensus estimate of 3.64%, with the prior reading standing at 3.58%.

4 minutes ago

SanDisk and Micron Technology rallied intraday to erase earlier losses, with SanDisk's gain widening to 2.5%.

According to market data from BIT (bit.com), SanDisk and Micron Technology rallied intraday to turn positive. SanDisk’s gain widened to 2.5%, while Micron Technology rose more than 1% after earlier dropping over 3%.

4 minutes ago

Prominent trader Killa remains bullish on Bitcoin, and will look to re-establish long positions in the $80,000 to $82,000 range.

Prominent trader Killa said Bitcoin once again failed to break the $87,000 level, and his previously established 10x leveraged long position was stopped out at the break-even price. This position was an aggressive trend-following trade, with the original expectation that BTC would break through during its second test of the high point, but after the breakout failed, the price returned to the entry level. Killa added that he will next monitor the $80,000 to $82,000 range to look for opportunities to re-establish this 10x leveraged long position. He currently holds long positions opened at $62,600 and $76,400 respectively, and sees no reason to rush into adding new long positions for now. He emphasized that risk management is critical, and his existing BTC holdings are sufficient. Regarding the future trend, Killa maintains his bullish outlook, expecting prices to continue rising. He noted that the current market is in a short-term consolidation phase, and he primarily trades based on longer timeframes.

4 minutes ago

The $99.8 million ETH long position held by "Ma Ji" is nearing liquidation, at a liquidation price of $2501.38.

According to Lookonchain monitoring, amid the market downturn, the 39,025 ETH long positions (valued at approximately $99.8 million) held by the address of prominent crypto investor "Big Brother Ma Ji" (Huang Licheng) are nearing liquidation, with a liquidation price of $2501.38.

4 minutes ago

US Senator Questions Bessent, Demands Explanation for Treasury's 'Unprecedented Intervention' in US Treasury Market

U.S. Democratic Senator Elizabeth Warren has submitted a series of inquiries to Treasury Secretary Scott Bessent regarding the U.S. Treasury Department’s recent "unprecedented and chaotic" interventions in the U.S. Treasury market. Warren asked Bessent to clarify how the Treasury plans to fund Treasury repurchases by reducing its cash balance, and what measures it will take to lower long-term U.S. Treasury yields. She also questioned whether the Treasury has evaluated the impact of rising long-term U.S. Treasury yields on consumer borrowing costs, including auto loan and mortgage rates.

4 minutes ago

Altcoins

7 October 2026 | 16:40 Ether fell roughly 5.5% in 24 hours after another failed move toward $2,800, bringing the market into a support zone that matters on two timeframes.

Key Takeaways ETH has fallen below its short rising daily trendline. $2,535-$2,580 combines a daily Fibonacci level, the 50-day SMA and the 200-week SMA. The weekly 0.236 Fibonacci level near $2,500 is the next support below that area. $2,760 and $2,800 remain the main levels buyers need to recover. ETH has reached the area buyers need to defend At 13:24 UTC on October 7, ETH traded near $2,559 on Bitstamp’s TradingView chart after falling below the short rising trendline that supported its advance through September – down about 5.5% over the preceding 24 hours.

The decline followed several failed attempts to establish price above $2,800. ETH repeatedly reached that area in late September, only to fall back into its earlier range. With the daily diagonal now broken, buyers need to show that the wider recovery can withstand a deeper pullback.

ETH breaks its rising daily trendline. / Chart source: TradingView, ETH/USD on Bitstamp, October 7, 2026. The immediate response is forming between $2,535 and $2,580. The daily 0.236 Fibonacci retracement sits near $2,560, while the 50-day SMA runs close to $2,547. The 200-week SMA near $2,540 adds a longer-term reference just below them.

Ethereum’s price map

$2,535-$2,580: Daily 0.236 Fibonacci retracement, 50-day SMA and 200-week SMA.

Near $2,500: Weekly 0.236 Fibonacci retracement, the first lower weekly reference.

Near $2,430: Daily 0.382 Fibonacci retracement, below the weekly $2,500 level.

$2,760, then $2,800-$2,812: 100-week SMA, followed by the recent high and the main overhead barrier.

A brief move through one part of the zone would not decide the setup while the daily candle remains open. A close below $2,535, followed by a failed recovery, would bring the weekly Fibonacci level near $2,500 into view. Losing that level would expose the daily 0.382 retracement around $2,433 and confirm that the pullback has moved beyond the broken diagonal.

The weekly chart widens the support range The revised weekly Fibonacci measurement places its 0.236 retracement near $2,500. Together with the 200-week SMA near $2,540, it creates a broader weekly support band beneath the daily levels rather than one exact floor.

ETH nears weekly $2,500 support. ETH has arrived at daily support, while the weekly chart leaves room for a deeper decline toward $2,500 without breaking its entire recovery structure. Holding above the 200-week average would offer the firmer early sign that buyers remain active; a drop through it would shift attention to the Fibonacci level beneath.

Resistance remains close enough to shape any rebound. The 100-week SMA near $2,760 has capped recent advances, while $2,800-$2,812 contains the latest high. ETH would need to recover both areas before the market could treat the decline as a completed pullback rather than another failed attempt to clear resistance.

Below $2,500, the daily 0.382 Fibonacci level near $2,433 comes into view. The 50-week SMA near $2,390 would become more relevant only if selling extends beyond that daily support.

BitMine may leave the market needing another buyer The support test is taking place while one of Ether’s most visible corporate accumulators appears close to completing its strategy. CoinDesk reported that BitMine chairman Tom Lee said the company plans to stop token purchases after nearing its goal of holding 5% of ETH’s supply.

BitMine’s October 5 release shows why the comment has drawn attention. The company reported holding 6,016,414 ETH, equal to 4.9% of the stated 122.1 million ETH supply, and said it had bought Ether every week since beginning its treasury strategy in June 2025. The company’s SEC-filed release confirms the scale of those holdings, though it does not disclose the timing, venue or market effect of individual purchases.

Ending purchases would leave BitMine with its existing ETH position while reducing a recurring source of disclosed demand. ETF flows, spot buyers, stakers and other treasury companies would then have a larger role in determining whether ETH can hold its support range.

Futures positioning could make the response sharper. ETH entered the sell-off with elevated derivatives activity, and the next change in open interest may show whether traders are closing leverage or opening fresh positions. Ethereum’s recent eight-month open-interest high and the rise in Bitfinex shorts show why price alone does not reveal the full balance of risk around a key level.

The support reaction now carries the story ETH has moved from rejection at $2,800 into daily support, with a wider weekly band extending toward $2,500. Holding above the 200-week SMA near $2,540 would keep the recovery on firmer ground, although buyers would still need to reclaim $2,760 and then $2,800 to change the near-term picture.

A sustained loss of $2,500 would put $2,430 in focus and make the question of replacement demand more pressing. BitMine’s reported plan does not prove why Ether fell today. It does make the response at support more revealing, because the market may soon need to hold without one of its most consistent disclosed buyers.

This article is for informational purposes only and does not constitute investment or trading advice. Technical levels are approximate and do not guarantee future price movements.

Author

Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.