Market Signal Briefing

Bitcoin and ether exchange-traded funds (ETFs) continued their strong momentum on Tuesday, pulling in a combined $448 million in inflows. The day also marked a historic debut for Solana ETFs, with Bitwise's BSOL smashing records for a first-day launch.

Dogwifhat price struggles to maintain support at $0.48 as declining volume signals weakening momentum, raising concerns of a downside move if bullish demand fails to return.

Summary

WIF holds $0.48 support but faces low-volume pressure.
Lack of bullish momentum increases downside risk.
Sustained volume growth is key to a rebound toward $0.75.

Dogwifhat (WIF) token price is testing a key technical level at $0.48, a structural support that has so far managed to hold despite growing weakness in trading volume. The price action is consolidating tightly above this region, suggesting that the market is at an inflection point, either preparing for a relief rally or risking a deeper correction if demand fails to sustain.

Dogwifhat token price key technical points:

Critical Support: $0.48 remains the high-timeframe structural level to hold.
Volume Decline: Diminishing buy-side participation signals potential exhaustion.
Next Target Levels: Holding $0.48 could spark a rebound toward $0.75; failure risks retesting lower supports.

WIFUSDT (1D) Chart, Source: TradingView
From a technical perspective, Wif’s current structure shows a clear lack of momentum. Price action has been hovering above $0.48, consolidating within a narrow range but without any significant influx of bullish volume. This low-volume environment reflects a market in hesitation, where buyers appear cautious and sellers are beginning to gain control.

A break below $0.48 would likely trigger a capitulation move, potentially extending losses toward lower levels. Conversely, defending this region could form a local base for a rebound toward $0.75, a key resistance zone where prior sell-offs began.

However, for such a bullish move to materialize, strong volume nodes must re-emerge to validate the rotation upward. Without this confirmation, the ongoing consolidation risks evolving into a broader corrective phase, signaling weakness rather than accumulation.

The $0.48 level now represents a make-or-break zone for Wif. As volume continues to decline, the probability of a bearish continuation grows unless momentum shifts. If buyers manage to defend support and push price above local mid-range levels, sentiment could improve quickly, but failure would expose the token to further downside risk.

What to expect in the coming price action:
If Wif maintains support above $0.48, expect extended consolidation before any breakout attempt. A decisive bullish candle backed by rising volume would confirm accumulation and open the path toward $0.75 resistance.

However, the current low-volume structure suggests fragility and the risk of a breakdown if demand weakens further.

Bitcoin's bullish momentum paused on Monday as the cryptocurrency faced heavy resistance near the $114,000–$115,000 range. After briefly spiking above $116,000, sellers re-entered the market, capping upside potential and triggering a short-term pullback.

The BNB Chain sector is back in top form this week, adding over $6.4 billion to its market capitalization and gaining 2.5% week-over-week (WoW).

BNB Chain mcap +$6.4B; H and WLFI led gains; small caps rallied.Big catalysts: Ondo RWAs, Polymarket integration, 33rd burn, KGST launch.Despite gains, BNB underperformed SOL/ETH/BTC; fees still industry-leading.The market is in the green again as several bullish catalysts light the path toward a promising Q4.

Meanwhile, fear is slowly evaporating from the market as the CMC Fear and Greed Index nears the neutral threshold, and select altcoin sectors are beginning to outperform Bitcoin (BTC).

With that in mind, here’s how the BNB Chain sector has shaped up since our last update.

The BNB Chain sector is back in top form this week, adding over $6.4 billion to its market capitalization and gaining 2.5% week-over-week (WoW).

Nine of the top 10 BEP-20 tokens are currently in the green, with Humanity Protocol (H) and World Liberty Financial (WLFI) leading the way with 94% and 18% WoW gains, respectively.

But the biggest winners are primarily concentrated among the small caps, including:

APRO (AT): +270.3% (Binance Alpha listing + airdrop; Aster “Rocket Launch” $200K rewards)BurnedFi (BURN): +92.5% (Unclear catalyst)Unibase (UB): +92.8% (BNB Chain x402/agent rollout; prior Binance Alpha/Futures visibility)EVAA Protocol (EVAA): +46.5% (Binance Alpha + Futures listings; Binance competition spotlighted EVAA)Besides Humanity Protocol (H), small caps are also concentrated among this week's trending list.

Despite its growth, the BNB Chain ecosystem is currently underperforming other sectors, including the Solana ecosystem (+7.6% WoW), the Ethereum ecosystem (+2.9% WoW), and the Bitcoin ecosystem (+3.7%).

Like most L1s, BNB Chain saw either a slight decline or stagnation across many on-chain metrics this week. Notably, it saw a significant decline in DEX trading activity and fee revenue.

It still leads the L1 space in terms of fee generation, and saw a slight improvement in total value locked (TVL)—largely due to the expansion of Circle's USYC product.

Source: DefiLlama

Several major developments in the BNB Chain ecosystem underpinned this week’s bullish momentum. A summary of the most significant stories is provided below.

Ondo Brings Tokenized U.S. Stocks/ETFs to BNB Chain: Ondo Global Markets has expanded to BNB Chain, enabling 24/7 access to 100+ tokenized U.S. stocks and ETFs for non-U.S. users. BNB Chain touts a reach that includes millions of wallets.

BNB Completes Its 33rd Quarterly Burn (~1.44M BNB): The 33rd burn destroyed ~1.44M BNB (≈$1.2B at announcement), executed directly on BSC. This continues BNB’s auto-burn schedule aimed at reducing supply and aligning incentives across the ecosystem.

Polymarket Integrates BNB Chain: The prediction market has enabled BNB deposits/withdrawals natively on BNB Chain, lowering costs and improving UX for event markets. Expansion may boost cross-chain liquidity into BNB apps.

Kyrgyzstan Launches National Stablecoin & CBDC Pilot on BNB Chain: The Kyrgyz government announced a national stablecoin (KGST) and CBDC pilot utilizing BNB Chain infrastructure; plans also include a national crypto reserve that holds BNB, per officials.

>> That’s all for this update. Check in next week for another dose of BNB Chain news and insights!

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Crypto analyst Adez has revealed what most traders are missing following the Bitcoin price rally to $116,000 earlier this week. The analyst suggested there is no reason to be bullish right now, as BTC is likely to decline further before breaking out to the upside. 

What Traders Are Missing From The Bitcoin Price Action
In an X post, Adez noted that the Bitcoin price pumped from around $111,000 to $115,500 and that everyone thinks a breakout is happening. However, the analyst opined that the rally was just a trap. He explained that BTC actually swept the Value Area High at $114,600, but the Cumulative Volume Delta (CVD) barely moved. 

Adez further revealed that the open interest was completely flat, indicating that zero money came in for the move on Binance. The funding rate was also still at 0.01%, which is “dead neutral,” and nobody was excited about the Bitcoin price rally. In other words, he explained that the breakout happened with no institutional support, no new capital, and no retail FOMO, which is why the analyst believes the move was just a liquidity grab. 

Source: Chart from Adez on X
As to what happens next, Adez stated that this is a classic pattern after sweeping resistance with weak conviction, which leads to a sharp reversal. He urged investors and traders to watch the next few H4 candles to see if the Bitcoin price rejects back below $114,600, forms a lower low, and the CVD starts dropping. 

For a break of structure to be confirmed, the Bitcoin price needs to break below the H1 at 114,839 and then the H4 at 113,560. Once that happens, Adez predicts that there is an 85% probability that BTC will head to the real support between $104,000 and $106,000 within seven to ten days. Notably, BTC has broken these two levels and may now be at risk of dropping to these support levels as the analyst has predicted. 

Why This Price Action Is Plausible
Adez explained that this Bitcoin price action makes sense because November is historically 60% bullish and that Q4 has averaged 65% wins. However, he noted that these rallies didn’t start from thin air at $115,000. Instead, they start from value zones where institutions can accumulate before BTC rallies. 

The analyst highlighted $109,000 as the point of control, while between $104,000 and $106,000 is the Value Area Low, where there are also billions in buy orders. He added that the current Bitcoin price action is floating above real support, which is exactly where smart money dumps before the real move begins. 

As such, Adez expects retail to buy the breakout at $115,000 and get stopped out on the reversal. Then, they miss the real entry between $104,000 and $106,000. On the other hand, Smart Money sells into this pump, waits for the sweep down, then loads up at between $104,000 and $106,000 and rides the Bitcoin price rally to above $130,000. 

At the time of writing, the Bitcoin price is trading at around $113,000, down in the last 24 hours, according to data from CoinMarketCap.

BTC trading at $113,288 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Pixabay, chart from Tradingview.com

Ripple Chief Technology Officer David Schwartz has confirmed that the company holds the legal right to sell or transfer future claims to XRP currently locked in escrow. This means Ripple can pre-sell the rights to tokens that will be released over time — without altering the long-standing time-lock mechanism first introduced in 2017.

How the Escrow WorksRipple’s escrow system was designed to provide transparency and predictability to XRP’s supply. Each month, up to 1 billion XRP is released, and any unused portion is typically placed back into escrow. The setup aimed to prevent market shocks and reassure investors that Ripple would not suddenly flood the market with tokens.

Today, around 56 billion XRP are in circulation, while roughly 35 billion, valued at around $92 billion,  remain locked in Ripple’s escrow accounts.

Monetizing Future XRP SupplySchwartz’s statement clarifies that Ripple can sell the rights to these future tokens or even transfer the escrow accounts themselves. The XRP, however, cannot enter circulation until their scheduled release dates.

This opens the door for Ripple to monetize its future holdings while maintaining compliance with the original escrow terms. It also allows institutions to secure guaranteed access to future XRP supplies under private agreements, possibly governed by non-disclosure clauses.

Institutional Leverage and Strategic ImplicationsThe revelation could mean a strategic advantage for Ripple. By pre-selling or transferring rights to its escrowed XRP, the company can build long-term partnerships with institutional buyers.

🚨 Ripple CTO David Schwartz, has confirmed that Ripple is able to sell rights to $XRP locked in escrow. This means that while tokens are locked, Ripple can sell future claims to them.

Ripple can enable the pre-selling of XRP that will be released later, allowing the firm to… pic.twitter.com/uDKWD3gC2l

— ALLINCRYPTO (@RealAllinCrypto) October 29, 2025 Experts and supporters say this move could reshape perceptions of Ripple’s control over XRP. For years, critics have pointed to the escrow holdings as evidence of centralization. But if those rights are already distributed or optioned to multiple institutions, the narrative of Ripple being the sole controller of XRP may lose ground.

Evernorth’s Role and the XRP TreasuryEvernorth, a Ripple-backed entity,  is reportedly building an XRP Treasury platform. Early data shows it already holds nearly $1 billion worth of XRP. This could be the first public example of an institution leveraging Ripple’s escrow rights as a financial asset.

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US-traded spot Ethereum exchange-traded funds (ETFs) recorded persistent outflows during late September and mid-October, periods that coincided with relative weakness in the ETH/BTC ratio.

Yet, non-US inflows and continued staking growth blunted the price impact, suggesting the headwind is episodic rather than structural.

The question of whether ETF redemptions drive Ether’s underperformance against Bitcoin requires parsing flow data alongside derivatives positioning, staking supply sinks, and regional divergences.

ETF creations and redemptions reflect authorized-participant activity rather than direct buying or selling, and their relationship to price is conditional on broader market structure, such as funding rates, basis spreads, and competing yield opportunities.

The evidence shows outflow windows correspond to ETH/BTC softness when derivatives positioning turns negative, but staking inflows and European buying have repeatedly absorbed US selling pressure, limiting the transmission from flows to spot.

Flow patterns and timingUS spot Ether ETFs swung between heavy inflows in July and August and multi-week outflow periods in late September and mid-to-late October.

The week ending Sept. 26 saw record US redemptions of approximately $796 million, concentrated in Grayscale’s ETHE as investors rotated to lower-fee products or exited positions entirely.

Outflows resumed around Oct. 23-24, with the week ending Oct. 27 recording roughly $169 million in net redemptions across US Ether ETPs.

Those periods aligned with ETH/BTC declines on a weekly close-to-close basis, supporting the hypothesis that flows carry a price signal.

ETH/BTC declined during four net-outflow weeks with a –0.53 correlation between U.S. ETF flows and weekly ratio changes from late September through October.The opposite pattern appeared in early October. The week ending Oct. 6 brought approximately $1.48 billion in net inflows to the US.

Ether ETFs during a broader risk-on environment, and ETH/BTC stabilized or ticked higher. That correlation between inflows and relative strength, and outflows and relative weakness, holds across the July-to-October window when aggregated to weekly frequency.

However, the relationship is noisy at daily intervals and breaks down when regional or derivatives factors dominate.

Non-US Ether exchange-traded products complicate the narrative. CoinShares data show Germany, Switzerland, and Canada absorbed Ether ETPs during mid-October US outflows, resulting in net global inflows in some weeks despite US redemptions.

Hong Kong’s spot Ether ETFs remain smaller but add a second ex-U.S. data point as that market matures.

The regional divergence implies US flows are necessary for price modeling but not sufficient, global demand can offset domestic selling, particularly when European investors view drawdowns as entry points.

Derivatives amplify flow signalsThe relationship between ETF flows and ETH/BTC performance strengthens when derivatives positioning agrees.

CME Ether futures open interest and perpetual funding rates act as amplifiers. When the three-month annualized basis slips into negative territory and funding rates turn negative, outflow-driven price pressure intensifies.

Conversely, positive basis and elevated funding can mute the impact of redemptions by signaling speculative demand and willingness to pay for leverage.

Data from CME Group show Ether futures open interest climbing through October, reflecting heightened institutional participation around the flow cycles.

Weighted average perpetual funding rates tracked by aggregators turned negative during the late-September outflow window and again in mid-October, suggesting leveraged long positions unwound alongside ETF redemptions.

That dual pressure, spot selling via ETF redemptions and derivatives deleveraging, appears to drive the periods of sharpest ETH/BTC underperformance.

When the basis and funding stabilize or turn positive, the flow-price link weakens. Early October’s inflow surge corresponded with a shift to positive funding and firmer basis, and ETH/BTC stopped declining despite mixed signals elsewhere in crypto markets.

The interaction term between flow direction and derivatives positioning is more predictive than flows alone, matching prior research on Bitcoin ETFs, which found that flows explain roughly 32% of daily price variance when isolated but gain explanatory power when combined with leverage metrics.

Staking and liquid staking tokens as supply sinksEthereum’s Beacon Chain validator count continued rising through October, with net validator entries absorbing ETH supply that might otherwise flow to exchanges or ETF redemption baskets.

Liquid staking token protocols, including Lido’s stETH, Coinbase’s cbETH, and Rocket Pool’s rETH, also recorded supply growth during the outflow windows, indicating organic staking demand persisted independent of ETF activity.

Quantifying the offset requires comparing weekly changes in staked ETH and LST outstanding against weekly ETF net flows.

Beacon Chain data show validator additions equivalent to tens of thousands of ETH per week during September and October, while LST supply growth tracked similar magnitudes.

When combined, staking sinks often matched or exceeded US ETF outflows every week, suggesting that redemptions removed ETH from exchange-traded wrappers without flooding spot markets, as staking absorbed the released supply.

Tokenized US Treasuries offering four to 5% yields on-chain represent a competing destination for capital that might otherwise allocate to ETH or Ether ETFs.

Real-world asset protocols reported tokenized Treasury supply ranging from $5.5 billion to $8.6 billion through 2025, providing a risk-free rate alternative that can siphon inflows during periods when Ether’s total return lags short-term rates.

The competition is most acute among institutional allocators, who compare Ether ETFs with tokenized money-market instruments, particularly when ETH volatility rises or the ETH/BTC ratio stagnates.

Measuring the flow-price relationship requires weekly aggregation to smooth intraday noise and alignment with ETH/BTC weekly closes to capture relative performance.

Correlations between net weekly ETF flows and weekly ETH/BTC returns are positive during the July-to-October window. Still, the coefficient varies depending on whether derivative positioning and regional flows are included as controls.

Adding interaction terms for basis state and funding direction improves fit, confirming that flows matter most when derivatives agree.

ETF creations and redemptions reflect authorized-participant activity in response to premium/discount dynamics and end-investor orders, not direct market-making.

Daily flow prints can be revised, and issuer-level differences in fees and tax-lot structure create noise in aggregate series.

The analysis also assumes that flows translate into spot buying or selling, which holds when authorized participants hedge creation/redemption baskets in spot markets but breaks down when hedging occurs via derivatives or over-the-counter desks.

The lag between reported flows and actual market impact can span hours to days, complicating intraday correlation tests and supporting weekly frequency as the appropriate unit of analysis.

What to monitor nextETF flows will continue signaling marginal demand shifts, but their predictive value depends on confirming signals from derivatives and regional data.

Weekly monitoring should track US net flows, non-US ETP direction, on a three-month basis, weighted perpetual funding, and validator queue depth.

When US outflows coincide with negative basis, negative funding, and flat staking growth, the headwind intensifies. When European or Canadian inflows offset US redemptions, or when staking absorbs released supply, the price impact fades.

Catalysts that could flip the flow regime include Ethereum protocol upgrades that affect staking economics, changes in US ETF fee structures that reduce ETHE’s cost disadvantage, or macro shifts that compress Treasury yields and reduce RWA competition.

The relationship between flows and ETH/BTC also depends on Bitcoin’s own ETF dynamics. If Bitcoin ETFs see heavy inflows while Ether ETFs face redemptions, the relative underperformance compounds.

Tracking both asset classes in parallel provides the cleanest read on whether Ether-specific factors or broader crypto sentiment drives the ratio.

US spot Ether ETF outflows have corresponded with ETH/BTC weakness when derivatives positioning and regional flows align, but staking growth and non-U.S. buying have repeatedly absorbed redemptions and limited spot price transmission.

The headwind is real during concentrated outflow windows with negative basis and funding, but it is episodic rather than structural.

Flows matter most as a risk indicator that confirms or contradicts signals from derivatives, staking, and cross-border demand, not as a standalone driver of Ether’s relative performance.

Mentioned in this article

Key NotesThe upgraded system conceals order details until execution to prevent MEV exploitation and front-running attacks by market participants.Traders can now set orders based on USD price or market cap with automatic conversions, eliminating manual calculations.One-Cancels-Other functionality allows simultaneous take profit and stop loss orders that automatically cancel each other upon execution.
Jupiter Exchange released Limit Order V2 on Oct. 29, an upgraded trading system on the Solana blockchain. The platform announced the system targets both beginners and professional traders.

According to the announcement, V2 provides traders with control and precision for setting price targets, automating entries and exits, and protecting positions privately.

Introducing Limit Order V2 – the most advanced limit order system on Solana.

Intuitive. Flexible. Private.

Built for both beginners and pros.

Limit V2 gives traders full control and precision – set your exact price targets, automate entries and exits, and protect positions… pic.twitter.com/PUgaNy2EcI

— Jupiter (🐱, 🐐) (@JupiterExchange) October 29, 2025

All V2 orders are privacy-protected to prevent front-running. The system keeps orders private until the trigger price is reached. Jupiter stated this feature protects trading strategies from being exploited by other market participants.

Privacy Protection Against MEV
The privacy mechanism addresses a common vulnerability in decentralized exchanges where pending transactions can be observed and exploited. Front-running attacks occur when bots or traders detect profitable transactions in the mempool and execute similar trades first by paying higher fees.

This front-running practice extracts value from the original trader’s intended transaction. Jupiter’s V2 system prevents this by concealing order details until execution conditions are met. While these privacy features don’t eliminate the MEV problem completely, they do provide an additional layer of protection for traders.

New Order Types and Pricing Options
Traders can now set limit orders based on a token’s USD price or market cap, eliminating the need for manual conversions or pool ratio calculations. The system handles the conversion automatically. V2 also corrects how Buy Above and Stop Loss orders function.

In V1, setting a limit buy above market price or a limit sell below market price would trigger an instant market order. V2 only executes these orders when the market actually reaches the specified limit price.

Advanced Trading Features
The platform supports bundled orders through a One-Cancels-Other mechanism. Traders can place both a Take Profit and Stop Loss on a single position. When either order triggers, the other cancels automatically. This allows traders to set both upside targets and downside protection simultaneously.

V2 also enables instant editing of live orders. Traders can update active orders without canceling and resubmitting them, allowing faster adaptation to market changes.

The V2 launch comes as Jupiter expands its ecosystem. The platform is partnering with Ethena Labs to introduce Jupiter’s JupUSD stablecoin later in 2025. The Solana network itself is attracting growing institutional interest, with Western Union on Solana planning to launch its exclusive USDPT stablecoin by mid-2026.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Solana (SOL) News, Cryptocurrency News, News

As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.

Zoran Spirkovski on X

BONK Tests Support as Volume Surges 122% in Solana SelloffBONK broke $0.0000146 support on heavy volume but found buyers near $0.0000143 as traders eye potential base formation. Oct 29, 2025, 3:19 p.m.

BONK-USD extended its slide Tuesday, falling 3.4% to $0.0000143 as the Solana-based meme token succumbed to renewed downard pressure across the broader ecosystem.

The decline marked a decisive break below $0.0000146 support, a key level that had held for much of the past week, confirming a short-term bearish structure, according to CoinDesk Research's technical analysis data model.

The 24-hour trading range spanned roughly $0.0000090, reflecting 6.2% intraday volatility typical of BONK’s highly speculative nature. Volume surged to 1.26 trillion tokens around 20:00 GMT, representing a 122% increase over the 24-hour average — a signal that institutional and algorithmic traders were active during the breakdown.

After peaking near $0.0000152, BONK failed to sustain its gains, printing a series of lower highs between 19:00 and 21:00 GMT before cascading toward the $0.0000143 zone.

Despite the weakness, buying interest emerged late in the session as volume spikes between 01:32 and 01:50 GMT brought modest relief. The token rebounded slightly to $0.0000143291, forming a higher low near $0.0000142930, which suggests early base-building at support.

The token’s immediate focus now lies within the $0.0000143–$0.0000144 consolidation band, with upside momentum capped by resistance at $0.0000144018 and $0.0000146.

Traders expect continued range-bound activity, with tactical opportunities for accumulation near current levels.

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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Michael Saylor's Strategy Drops $18B in Value, but a Rebound May Be Near: 10X Research

The company is expected to report another quarterly profit on Thursday, possibly reviving expectations for S&P 500 inclusion, 10x Research's Markus Thielen argued.

What to know:

Bitcoin treasury firm Strategy (MSTR) has slumped 40% since July, but a potential rebound nears with upcoming catalysts, 10x Research's Markus Thielen said.Thielen expects the company to report a third quarter $3.6 billion profit from BTC mark-to-market gains, reviving speculation about S&P 500 inclusion.Inclusion in the index could mean $28 billion of buying pressure on the stock, said Thielen.Read full story

XRP is hovering near a crucial resistance zone, leaving traders divided over whether the token will experience one last pullback before a strong bullish reversal. The cryptocurrency, currently trading close to the $2.80 mark, has been consolidating within a narrow range, suggesting that a decisive move could be on the horizon.

Home / Price Analysis / Expert Predicts XRP Price to Hit $10 as Elliot Wave, XRPR ETF Inflows Align

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Highlights

A crypto analyst predicts that the XRP price will jump to $10 in the near or medium term. The analyst pointed to the Elliot Wave pattern analysis since it is now in the second phase. The existing XRP ETFs have had robust ETF inflows in the past few months.

XRP price has moved sideways in the past few days as the recent bull run stalled. Ripple was trading at $2.6290 today, Oct. 29, up by 50% from its lowest point this month. Still, one crypto analyst predicts that the token will go parabolic and hit $10, citing the Elliot Wave pattern and the ongoing ETF inflows.

About Author

About Author

Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Bitcoin price’s recent rally yesterday ran into resistance just above $116,000, settling under $113,000 at the time of writing, as traders weigh broader macroeconomic signals ahead of today’s Federal Reserve announcement. 

The cryptocurrency market’s total capitalization has retreated 1.4% over the past 24 hours to $3.81 trillion, according to Bitcoin Magazine Pro data, even as U.S. equities continue to reach fresh highs.

Attention, both in the bitcoin and broader markets, is squarely on the Federal Open Market Committee (FOMC) rate decision coming later today, widely expected to deliver a 25-basis-point cut to the benchmark interest rate. 

Cooler-than-expected consumer price inflation last week and a slowing labor market have fueled expectations for this reduction, with markets seeming to be pricing in nearly two more cuts by year-end. 

Lower interest rates historically boost risk appetite, including demand for Bitcoin, by reducing yields on cash and bonds and increasing liquidity in financial markets.

However, the immediate impact of today’s rate cut may be muted, as it may be already priced in. 

Investors will be scrutinizing Fed Chair Jerome Powell’s press conference for guidance on the future trajectory of monetary policy. 

A key question remains whether the Fed will signal an end to its Quantitative Tightening program, a dovish move that could inject further upside momentum into risk assets. Powell has previously indicated that the Fed is nearing this stage, though uncertainty from the ongoing government shutdown clouds the outlook.

Complicating matters, the U.S. labor market exhibits signs of weakness despite low unemployment, with average job search durations remaining historically long and hiring activity subdued. 

Inflation remains above the Fed’s 2% target, partly due to lingering tariffs. 

Institutional Bitcoin demand
Institutional demand for Bitcoin remains supportive. BTC ETFs have recorded consistent net inflows, with $202.4 million added on Tuesday alone, reflecting growing confidence in the asset among professional investors. 

On the technical side, Bitcoin continues to hold above a rising trendline dating back to May, with immediate resistance at $114,500 and support at $112,000. 

A break above the former could target $120,000, while a slip below the latter may see a pullback toward $106,500.

As the Fed’s decision approaches, Bitcoin remains at the crossroads of macroeconomic policy, technical positioning, and investor sentiment. 

Micah Zimmerman

Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a junior news reporter for Bitcoin Magazine, based in North Carolina.

In brief
A meme coin tied to a statue of Binance founder Changpeng "CZ" Zhao surged on Wednesday
The statue was shown in Washington, D.C., for a handful of hours on Tuesday.
Unaffiliated meme coins with similar branding may be causing confusion for traders.
A meme coin tied to a golden statue of Changpeng "CZ" Zhao surged early on Wednesday after the Binance founder encouraged people via social media to not buy the token.

The meme coin, CZSTATUE—which was issued on BNB Chain earlier this week—jumped to a market capitalization of $4 million, from $3 million, an hour after Zhao said on X that its creator “probably just wanted to make a quick buck off an interaction with me.”

Trading grew as the morning progressed. The meme coin recently had a market capitalization of $1.1 million after briefly spiking to $6.8 million. Over the past day, it had generated $20 million worth of trading volume, according to crypto data provider DEXTools.

While I want to appreciate the gesture, the fact that there is a meme coin associated with this means the creator probably just wanted to make a quick buck off an interaction from me. This is something I don't appreciate. Don't buy the meme.

I would also never accept a statue of… https://t.co/GLmBgxqP6C

— CZ 🔶 BNB (@cz_binance) October 29, 2025

On X, Zhao said that he wanted to appreciate the 14-foot tall statue that was shown in Washington, D.C., on Tuesday for a handful of hours. However, he suspected its creators were trying to use his image, and recent presidential pardon, to enrich themselves.

“This is something I don’t appreciate,” Zhao said. “Don’t buy the meme.”

Despite reports that mistook unaffiliated meme coins for the BNB-based asset backed by the statue’s creators, the official meme coin’s price had increased 30% over the past day.

One of the statue’s creators, who goes by Nick Zee, told Decrypt that the confusion was disappointing, accusing others of trying to capitalize on his work with tokens of their own.

“They’re like hyenas,” he said. “I used to love the space, but I just came to the conclusion that nobody's genuine, nobody's honest. Everyone’s here for one thing: to make money off you.” 

The smart contract address for the official meme coin ends in “4444,” a reference to the four-fingered gesture that Zhao popularized in 2023 as shorthand for ignoring fear, uncertainty and doubt (aka “FUD”) amid heightened regulatory scrutiny.

Zee told Decrypt earlier this week that an anonymous collective of donors—who put up $50,000 to fund the initiative—planned to gift the statue to Zhao or auction it off to benefit the Binance founder’s educational nonprofit. That’s still the plan, Zee said on Wednesday.

“Our goal was to get CZ to acknowledge our presence,” Zee said, referring to Zhao by his initials. “We intend to give the statue to CZ, but he doesn't seem to quite like it a lot.”

On X, Zhao said he would “never accept the statue,” indicating that only an “egomaniac would have a statue of himself in his house.”

The initiative is unaffiliated with a group of people who set up a statue of U.S. President Donald Trump holding a Bitcoin near the U.S. Capitol in September. Those individuals also issued a meme coin tied to the project.

Meme coins trade on little more than vibes, making them susceptible to price swings based on social media activity or people’s attention. In recent years, tech CEO Elon Musk’s affection for Dogecoin and Trump’s knowledge of his meme coin have been high-profile examples.

The president issued Zhao a pardon last week, who pleaded guilty to a criminal charge related to anti-money laundering violations in 2023, as part of a $4.3 billion settlement between him, the exchange, and U.S. law officials. Zhao served four months in prison last year.

The pardon proved controversial, given Binance’s ties to World Liberty Financial, the Trump family’s crypto firm. The firm’s project’s USD1 stablecoin was tapped for a $2 billion investment in Binance from Abu Dhabi-based sovereign wealth fund MGX earlier this year.

On Monday, Sens. Elizabeth Warren (D-MA) and Adam Schiff (D-CA) backed a resolution condemning Trump’s pardon of Zhao, arguing that it's a symptom of corruption.

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

The network’s native token, ADA, dropped 3% over the past 24 hours as selling pressure mounted and altcoin rotation gained pace. Oct 29, 2025, 3:29 p.m.

Cardano’s native token, ADA, fell sharply Wednesday, dropping over 3% to 64 cents as it broke through a critical support level and confirmed a shift in market sentiment, CoinDesk Analytics data found.

The breakdown began Tuesday, when trading volume spiked 67% above its 24-hour average. Nearly 183 million tokens changed hands as ADA slipped below 64.5 cents, triggering sales and setting off a move toward lower support zones.

The move reflected growing uncertainty in altcoin markets as institutional flows turned negative. According to CoinShares, ADA saw $300,000 in outflows this week, following $3.7 million in inflows from the prior week. Analysts point to delays in crypto ETF approvals and broader risk-off behavior as key reasons for the rotation out of altcoins and into more stable assets.

Technical indicators now show strong resistance at 65.50 cents, with ADA’s recent lower highs from the 67.19 cent peak reinforcing a bearish trend. Unless buyers reclaim that resistance, analysts say the token could retest the 64 cent level, with further downside possible.

The broader crypto market also stumbled. CoinDesk’s CD5 index dropped 2% in the past 24 hours, underlining continued pressure across digital assets heading into the final months of the year.

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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Bitcoin treasury firm Strategy (MSTR) has slumped 40% since July, but a potential rebound nears with upcoming catalysts, 10x Research's Markus Thielen said.Thielen expects the company to report a third quarter $3.6 billion profit from BTC mark-to-market gains, reviving speculation about S&P 500 inclusion.Inclusion in the index could mean $28 billion of buying pressure on the stock, said Thielen.Read full story

At a Glance

The GENIUS Act in the U.S. gave private stablecoin issuers a legal framework while stalling a government issued CBDC.
Tether, issuer of USDT, earned record profits and became one of the largest private holders of U.S. Treasuries.
The company’s cooperation with regulators and law-enforcement shows how stablecoins function as compliance rails, not as alternatives to them.
Many Bitcoin advocates now align with Tether’s ecosystem, unintentionally helping extend the fiat system they claim to resist.

Bitcoin’s Quiet Compromise
When the GENIUS Act became law on 18 July 2025, the crypto industry celebrated it as the end of regulatory uncertainty. The Act requires licensed stablecoin issuers to hold liquid reserves such as cash and U.S. Treasuries, publish monthly disclosures, and submit to federal or state supervision. At the same time, Congress shelved a federal central bank digital currency.

Supporters saw this as a victory for innovation, but critics called it a quiet federalization of private money. The United States no longer needs to issue its own digital dollar. It has simply delegated that function to private issuers operating under oversight. For Bitcoiners, whose movement was built around sound, decentralised money, that shift should have triggered alarm bells.

Tether’s Private Empire
The biggest beneficiary of this new framework is Tether Limited, whose USDT token dominates global stablecoin supply. In its Q2 2025 attestation, Tether Limited reported a net profit of approximately $4.9 billion and total exposure to U.S. Treasuries exceeding $127 billion. Treasury bills and reverse repo holdings. Its balance sheet showed nearly $120 billion in Treasuries, making Tether one of the world’s largest private holders of U.S. government debt.

Custody of those assets rests with Cantor Fitzgerald, the Wall Street firm led by Howard Lutnick. Lutnick has publicly defended the soundness of Tether’s reserves, confirming Cantor’s role as custodian while emphasising that it holds no equity stake in the company. 

The connection is now more delicate: Lutnick was later nominated for a senior White House economic position overseeing elements of trade and financial regulation. That appointment places a federal policymaker in proximity to one of the largest private holders of U.S. government debt and the key custodian for a company whose dollar backed token depends on the U.S. Treasuries for profit. The optics are uncomfortable. What began as a business relationship now blurs into a potential conflict of interest, embedding Tether in Wall Street’s plumbing and within the political apparatus that governs it.

In effect, Tether has become a private central bank: issuing dollar liabilities, earning seigniorage, and distributing liquidity through the crypto economy, all while piggy backing on U.S. sovereign debt. Its profit per employee rivals the most profitable institutions in finance.

Surveillance by Proxy
Stablecoins promise fast, borderless payments; however, their architecture depends on compliance. Since December 2023, Tether has maintained a proactive wallet-freezing policy for addresses sanctioned by the U.S. Office of Foreign Assets Control. The company says it has frozen billions in tokens linked to illicit activity and now works directly with the U.S. Secret Service and FBI. 

This is not inherently sinister, it’s what regulators demand, but it means enforcement now operates within the money itself. The control lever no longer sits solely with banks, it resides in the smart contract of the token issuer.

As Tether expands USDT onto Bitcoin adjacent networks such as Liquid and the RGB protocol, the same compliance logic will travel with it. The more Bitcoin infrastructure hosts these tokens, the more identity, KYC, and whitelisting mechanisms will appear around Bitcoin wallets and payment channels. The network that once prided itself on neutrality risks becoming a conduit for surveillance grade rails.

The Political Economy of the Digital Dollar
The GENIUS Act’s passage also realigned the politics of digital currency. Its sponsors framed it as an anti-CBDC measure, arguing that private stablecoins preserve choice and limit government power. However, the result is nearly identical to what a central bank digital currency would achieve: programmable, trackable dollars, only administered by corporations instead of the Fed. Some analysts have called this the birth of a “CBDC by proxy.“

The policy also meshes neatly with fiscal priorities. Every USDT minted represents demand for short dated Treasuries, effectively financing the same government that stablecoin advocates claim to bypass. Tether’s profits flow from the interest rate paid on those securities, an invisible subsidy from public debt to private issuers.

By situating stablecoins within the traditional bond market, the U.S. has created a dollar based feedback loop: bitcoin demand supports Treasury issuance, and Treasury yields support bitcoin profitability. In that loop, decentralization is incidental.

Co-opting the Bitcoin Narrative
Within the Bitcoin community, opposition to altcoins remains strong, but sponsorships, event partnerships, and integrations show how quickly principle bends toward funding. Bitcoin conferences increasingly feature Tether executives and supporters on stage, often framed as “bridges” to adoption. 

A familiar refrain has emerged among those bitcoiners who take money from Tether,  ‘if stablecoins are inevitable, it’s better they be run by Bitcoiners’. Another popular defence is that Tether provides a lifeline for people in countries locked out of the dollar system or suffering from hyperinflation and collapsing economies. This is an emotionally persuasive narrative.  These convenient mantras turn compromise into virtue, allowing Bitcoiners to take sponsorships and funding from the same system they once swore to oppose.

That logic may offer comfort to some, but erodes clarity. USDT on Bitcoin does not make Bitcoin more sovereign; it makes the dollar more omnipresent. When Bitcoin developers or advocates align with Tether for sponsorship or exposure, they lend moral legitimacy to a system that thrives on fiat’s dominance. The irony is that Bitcoin’s fiercest defenders are now helping entrench the very structure it was built to escape.

Follow the Money
Tether’s scale gives it power in markets and in messaging. With billions in annual profits and deep links to Wall Street custodians, it can sponsor conferences, fund research, and influence narratives across the digital asset world. Its executives appear frequently at policy forums to present stablecoins as allies of innovation and freedom. Each appearance helps normalise the idea that regulated, dollar denominated tokens represent progress for Bitcoin.

But the money tells a different story. Each stablecoin transaction that settles in USDT extends the dollar system’s reach and perpetuates the weaponization of money. Every layer of compliance embeds surveillance deeper into the blockchain economy. And every Bitcoiner who accepts that trade off helps build a network where decentralization endures mostly as branding.

Bitcoin doesn’t need a conspiracy against it; it only needs its followers to forget what made it different. The GENIUS Act, the rise of Tether, and the regulatory preference for private rails all point to a future where digital cash exists, but never without permission. The Trojan horse is not Tether, it’s the belief that working with it preserves freedom.

In the end, too many Bitcoiners remain exactly where Tether wants them, still tethered to the system they are trying to escape.

Plain Memo

Plain Memo is an anonymous contributor from the Bitcoin space.

TL;DR:

Ethereum launches “Ethereum for Institutions” to guide enterprise adoption.
L2 ecosystem exceeds $50B, offering scalability and compliance tools.
Institutional adoption accelerates with case studies, analytics, and enterprise-grade infrastructure.

The Ethereum Foundation has unveiled the official “Ethereum for Institutions” website to guide enterprises, builders, and institutions in adopting Ethereum. Managed by the Foundation’s Enterprise Acceleration Team, the site emphasizes Ethereum’s role as a core infrastructure layer for global financial transactions. With over 1.1 million validators securing the network, the platform underpins billions in asset management and transaction volume through institutional partners like BlackRock, Visa, eToro, and Coinbase.

Scaling Institutional Adoption Through L2 and Innovation
The website showcases Ethereum’s $50 billion L2 ecosystem, demonstrating the network’s ability to scale for enterprise usage while maintaining decentralization and security. Innovations in privacy and compliance, including ZK proofs, fully homomorphic encryption (FHE), and Trusted Execution Environments (TEEs), offer enterprises tools for regulatory alignment and secure operations. These features position Ethereum as a preferred infrastructure for institutional DeFi, payments, and enterprise-grade blockchain solutions.

The Foundation emphasizes institutional-grade products and integrations, highlighting how Layer 2 networks enable faster transaction throughput and lower fees without compromising security. Enterprises can leverage L2 solutions for high-volume operations, while developers gain guidance on deploying decentralized applications and smart contracts optimized for large-scale usage. This ecosystem expansion signals Ethereum’s readiness to support corporate and institutional blockchain adoption globally.

Beyond technical infrastructure, the platform features case studies and analytics on how enterprises have utilized Ethereum to transform payments, trading, and financial workflows. By connecting blockchain technology with enterprise needs, the Foundation fosters confidence among investors and institutions, demonstrating how Ethereum can facilitate scalable, compliant, and innovative financial applications.

With the new site, the Ethereum Foundation aims to accelerate mainstream institutional engagement, helping organizations navigate complex regulatory environments while leveraging blockchain for operational efficiency. The initiative marks a strategic push to position Ethereum as the leading institutional blockchain network, highlighting its transformative potential for the global financial system.

TL;DR

Companies hold more than 4% of the total Ethereum supply.
BitMine owns 3.31 million ETH after increasing its holdings by 25%.
Corporate reserves of Bitcoin and Solana show slower growth.

Corporate holdings of Ethereum have now surpassed the four percent threshold of its total supply. This level of accumulation exceeds the proportional treasury reserves for both Bitcoin and Solana. Data indicates that seventy distinct entities now control more than six million ETH. BitMine maintains the largest single corporate reserve, holding 3.31 million tokens.

Their acquisition of Ethereum has accelerated throughout October. In contrast, corporate purchasing activity for Bitcoin and Solana has slowed during the same period. For Bitcoin, corporate treasuries hold approximately 3.6 percent of the total supply. Solana corporate reserves account for 2.7 percent of its supply.

Corporate Strategy Shifts Toward Ethereum
The composition of these Ethereum holdings varies. Some entities retain allocations from initial coin offerings conducted years ago. Others represent new purchases executed with corporate capital. BitMine increased its own Ethereum holdings by twenty-five percent in the last month. This aggressive accumulation strategy places the company on a path to control five percent of the entire ETH supply.

The utility of Ethereum reserves differs from the more passive holding strategy common with Bitcoin. Companies like BitMine and SharpLink have announced plans to integrate these assets into decentralized finance protocols. Potential use cases include staking and liquid staking to generate yield. This approach treats the digital asset as a productive holding rather than a static investment.

Meanwhile, the stock market valuation for these treasury companies has stabilized. Most firms now trade at a market price that closely matches the underlying value of their digital asset holdings. This normalization follows a period of heightened speculation earlier in the year. The current trend suggests a maturing sector where corporate digital asset management is becoming an established financial practice.

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Following the slight pullback in Bitcoin’s price from the $115,000 level, several on-chain metrics are beginning to flash warning signals, and a possible shift in the current market trend. One of these crucial metrics is the Bitcoin Short-Term Holders SOPR.

Rising Bitcoin STH SOPR Signals Warning
Amid fluctuating market action, Bitcoin Short-Term Holders’ Spent Output Profit Ratio (SOPR) is showing that these investors are approaching a crucial point. In a recent quick-take post on the CryptoQuant platform, Yonsei Dent, a market expert, outlined that the key metric is drawing close to the upper band.

BTC STH-SOPR indicator shows the on-chain breakeven threshold for short-term holders. It is worth noting that when the value is more than 1.0, it indicates that these investors are generally making profits. On the other hand, when the metric drops below the 1.0 level, it suggests that the investors are realizing losses.

Given that the Bitcoin short-term holder SOPR hints at the aggregated action of a large number of market players, the metric also has a strong statistical aspect. About 95% of all data points are typically captured by the ±2 standard deviation range. Therefore, a move above that range takes place less than 5% of the time, which makes this trend an uncommon event.

BTC STH SOPR nearing a critical junction | Source: Chart from CryptoQuant on X
Using a combination of the Bollinger Band setup and the short-term holder SOPR, Yonsei Dent highlighted that a steady move to +2σ usually signals resistance or profit-taking zones. Meanwhile, when it is approaching -2σ, it often suggests support or accumulation opportunities.

However, the STH SOPR currently still has some room before reaching the +2σ upper band. While the metric moves closer to the upper band, Dent has underlined the importance of monitoring the indicator to confirm whether momentum has begun to turn or if short-term overheating is gradually appearing.

BTC Has Not Yet Reached Its Top
Despite the potential profit-taking from short-term holders, Joao Wedson, the founder of Alphractal, claims Bitcoin is yet to reach its top for this cycle due to past cycles’ trend. Unlike past cycles, few investors were observed buying the top out of euphoria during a similar period.

In previous ATHs, Bitcoin would spike with pure enthusiasm and then plummet just as quickly, barely having time to breathe above new highs. As a result, thousands of investors were stuck at the top, where their profits turned into losses within days. However, recent trends show that this cycle could be charting a different course.

After reclaiming the $100,000 landmark, BTC appears to have spent almost 1 year holding above this critical area. During the period, the flagship asset has been consolidating and steadily testing a range that would likely be a pure mania in past cycles. 

In a shocking twist, Wedson highlighted that the real euphoria has not yet kicked off. At this point, the expert is uncertain whether it will happen this cycle or the true top is still ahead, noting that euphoria came before consolidation in previous cycles. However, it appears that euphoria was preceded by consolidation, which changes everything this time.

BTC trading at $113,421 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Pixabay, chart from Tradingview.com

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TL;DR

Deutsche Digital Assets and Safello have launched the Safello Bittensor Staked TAO ETP (STAO), a product listed on the SIX Swiss Exchange.
The ETP is fully backed by TAO tokens and automatically reinvests staking rewards into its net asset value.
Bittensor has surged 42.35% in October and is trading near $427, with a market capitalization of $4.35 billion.

Deutsche Digital Assets and Safello have launched the Safello Bittensor Staked TAO ETP (STAO), an exchange-traded product offering exposure to Bittensor (TAO), a blockchain that combines decentralized artificial intelligence and open-source machine learning.

The ETP will begin trading on the SIX Swiss Exchange under the ticker STAO. It is fully backed by TAO held in cold wallets and allows investors to earn staking rewards automatically reinvested into the NAV, generating compound growth.

STAO tracks a total return index, the Kaiko Safello Staked Bittensor Index (KSSTAO Index), and applies a maximum management fee of 1.49%. It combines TAO’s price performance with additional staking income, providing institutional investors with a transparent and secure structure to diversify their portfolios.

Deutsche Digital Assets contributes its white-label platform, enabling Safello to leverage its regulatory infrastructure, index management, and exchange listing capabilities, ensuring compliance and robust index tracking. Bittensor exemplifies how decentralized AI and blockchain technology can merge to create value.

Uptober for Bittensor
There is growing demand for assets that integrate DeFi and artificial intelligence under institutional-grade standards. This new ETP gives investors access to staking yields and the potential of an integrated ecosystem within the protection of traditional financial infrastructure.

Bittensor (TAO) has shown strong performance in October, rising 42.35% to $427.59. Its market capitalization has reached $4.35 billion, with a fully diluted valuation of $8.97 billion, positioning it among the top 30 crypto assets by market cap. Trading volume over the past 24 hours is around $408 million.

STAO merges blockchain technology, artificial intelligence, and DeFi tools in a regulated ETP, offering investors an instrument that integrates staking, yield generation, and compliance — setting a new standard for the next generation of crypto investment products in Europe.

Circle Internet Financial Ltd. (NYSE:CRCL) is down over 2% to $133 on Wednesday, but a recent report indicates Circle’s USDC (CRYPTO: USDC) stablecoin has benefited from the GENIUS Act.

USDC Outpaces Tether Under Trump's Policy ShiftAccording to data compiled by Protos, the market capitalization of USDC jumped by 59% since Donald Trump took office, outpacing the 32.5% growth of Tether's USDT (CRYPTO: USDT).

In absolute terms, USDT’s market capitalization climbed from $138 billion to $183 billion, while USDC rose from $48 billion to $76 billion.

The GENIUS Act, introduced earlier in the term, aims to favor U.S.-regulated stablecoin issuers over offshore competitors like Tether.

Though not newly enacted, the policy's ongoing implementation has reinforced expectations that Circle could see long-term benefits.

Circle Gains Edge From Domestic RegulationCircle's U.S. base gives it a compliance advantage after the new law curtailed offshore competition. 

Tether, headquartered in El Salvador, announced plans to create a U.S. subsidiary under Bo Hines, Trump's former digital-asset adviser.

Meanwhile, Circle's major investor Coinbase Global Inc. (NASDAQ:COIN) stands to benefit from both higher USDC volumes and policy clarity.

Trump's regulatory backing reinforces the administration's pro-digital-asset stance following its earlier approval of U.S.-based Bitcoin ETFs.

CRCL Technical Chart Hints At Pending Breakout

CRCL Price Dynamics (Source: TradingView)

Circle's stock trades within a descending channel since June but shows compression near $134. 

The equity is testing clustered exponential moving averages between $135 and $140. 

A breakout above this zone would confirm bullish momentum  and open a move toward the 200-day EMA near $154.80.

Above $157, the next technical projection targets $298, representing the measured move from the long-term channel breakout.

The RSI, now near 49, has recovered from oversold conditions, signaling potential upside if price holds above $140.

Support remains firm at $130–$134. Losing this area would keep CRCL inside its bearish channel, exposing $120 and possibly $100.

Why It MattersTrump's GENIUS Act is more than just a stablecoin law. 

It rewires the balance of power between offshore giants like Tether and U.S.-regulated Circle. 

For the first time, a sitting U.S. administration has given one issuer a structural edge over another in a multi-trillion-dollar liquidity race. 

This isn't only about USDC's 59% growth — it's about whether U.S. policy is quietly building a "digital dollar" through the private sector, with Circle as the chosen vehicle.

Read Next:

Bitcoin At $113,000 As Jerome Powell Faces Crucial Decision At Fed Meeting
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Jazz Pharmaceuticals (JAZZ - Free Report) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on November 5. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis drugmaker is expected to post quarterly earnings of $5.72 per share in its upcoming report, which represents a year-over-year change of -13.5%.

Revenues are expected to be $1.1 billion, up 4.5% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.14% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Jazz?For Jazz, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -7.15%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Jazz will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Jazz would post a loss of$6.12 per share when it actually produced a loss of -$8.25, delivering a surprise of -34.80%.

Over the last four quarters, the company has beaten consensus EPS estimates two times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Jazz doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAmong the stocks in the Zacks Medical - Biomedical and Genetics industry, Harmony Biosciences Holdings, Inc. (HRMY - Free Report) , is soon expected to post earnings of $0.92 per share for the quarter ended September 2025. This estimate indicates a year-over-year change of +16.5%. This quarter's revenue is expected to be $228.95 million, up 23.1% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for Harmony Biosciences has been revised 1.2% up to the current level. Nevertheless, the company now has an Earnings ESP of +28.82%, reflecting a higher Most Accurate Estimate.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), suggests that Harmony Biosciences will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Wall Street expects a year-over-year increase in earnings on higher revenues when HubSpot (HUBS - Free Report) reports results for the quarter ended September 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on November 5, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis cloud-based marketing and sales software platform is expected to post quarterly earnings of $2.58 per share in its upcoming report, which represents a year-over-year change of +18.4%.

Revenues are expected to be $786.26 million, up 17.4% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.48% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for HubSpot?For HubSpot, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.23%.

On the other hand, the stock currently carries a Zacks Rank of #4.

So, this combination makes it difficult to conclusively predict that HubSpot will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that HubSpot would post earnings of $2.12 per share when it actually produced earnings of $2.19, delivering a surprise of +3.30%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

HubSpot doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Expected Results of an Industry PlayerAstera Labs, Inc. (ALAB - Free Report) , another stock in the Zacks Internet - Software industry, is expected to report earnings per share of $0.39 for the quarter ended September 2025. This estimate points to a year-over-year change of +69.6%. Revenues for the quarter are expected to be $206.73 million, up 82.8% from the year-ago quarter.

The consensus EPS estimate for Astera Labs, Inc. has remained unchanged over the last 30 days. However, an equal Most Accurate Estimate has resulted in an Earnings ESP of 0.00%.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that Astera Labs, Inc. will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Wall Street expects a year-over-year decline in earnings on higher revenues when Acushnet (GOLF - Free Report) reports results for the quarter ended September 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on November 5, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis golf products maker is expected to post quarterly earnings of $0.88 per share in its upcoming report, which represents a year-over-year change of -1.1%.

Revenues are expected to be $630.76 million, up 1.7% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 5.66% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Acushnet?For Acushnet, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -3.88%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Acushnet will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Acushnet would post earnings of $1.33 per share when it actually produced earnings of $1.25, delivering a surprise of -6.02%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Acushnet doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Geron (GERN - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The earnings report, which is expected to be released on November 5, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis drugmaker is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +25%.

Revenues are expected to be $52.49 million, up 85.7% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 7.69% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Geron?For Geron, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -32.35%.

On the other hand, the stock currently carries a Zacks Rank of #4.

So, this combination makes it difficult to conclusively predict that Geron will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Geron would post a loss of$0.03 per share when it actually produced a loss of -$0.02, delivering a surprise of +33.33%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Geron doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Expected Results of an Industry PlayerAmong the stocks in the Zacks Medical - Biomedical and Genetics industry, Ultragenyx (RARE - Free Report) , is soon expected to post loss of $1.23 per share for the quarter ended September 2025. This estimate indicates a year-over-year change of +12.1%. This quarter's revenue is expected to be $167.55 million, up 20.1% from the year-ago quarter.

The consensus EPS estimate for Ultragenyx has been revised 0.4% lower over the last 30 days to the current level. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -12.47%.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that Ultragenyx will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

LOS ANGELES, Oct. 29, 2025 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Zions Bancorporation, N.A. (“Zions Bancorp” or “the Company”) (NASDAQ: ZION) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Zions Bancorp is the subject of a report published by Bloomberg on October 16, 2025, titled: “Zions, Western Alliance Banks Disclose Bad Loans Tied to Alleged Fraud.” According to the report, “Shares of two regional US banks tumbled Thursday after the companies said they were the victims of fraud on loans to funds that invest in distressed commercial mortgages, fueling concern that more cracks are emerging in the credit markets.” Based on this news, shares of Zions Bancorp fell by more than 13.1% on the same day.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm 
Brian Schall, Esq. 
310-301-3335
[email protected]

www.schallfirm.com