Market Signal Briefing

Geopolitical events, judicial rulings, new law legislation, and policy changes are all circumstances occurring on domestic and international stages that are triggering big stock moves in various industrial sectors.

A record quarter sets a high bar just as a key tailwind disappears.

Tesla (TSLA -1.41%) investors have been hoping for a return to growth, and the electric-car maker delivered. Third-quarter deliveries were 29% higher than the previous quarter and returned to year-over-year growth. These record quarterly deliveries followed two periods of underwhelming sales in the first half of the year.

The timing of a blowout quarter wasn't random. U.S. buyers were racing to complete purchases before the $7,500 clean-vehicle credit ended for vehicles acquired after Sept. 30, and Tesla's refreshed Model Y helped convert interest into orders. The result was a headline-grabbing surge in the deliveries that refocused attention on the company's growth story.

But can momentum persist in Q4? The next few months will tell us how much of Q3's strength reflected one-time incentives and how much represented underlying demand that can carry into next year.

Image source: Getty Images.

An impressive third quarter
Tesla's third-quarter deliveries came in at 497,099, the company said on Thursday. This is up 7% year over year and far higher than Q2 numbers. Production, however, lagged behind, coming in at 447,450 units. That gap reduced inventory and suggests the company's demand exceeded production -- a testament to the company's compelling lineup and a rush to buy vehicles before the $7,500 credit expired.

The surging demand to take advantage of the credit makes perfect sense. Under recently updated IRS guidance, vehicles placed in service after Sept. 30 must have been acquired on or before Sept. 30 to qualify -- meaning shoppers who hadn't locked in by that date lost access to the $7,500 credit. That deadline, therefore, likely concentrated a meaningful number of U.S. deliveries into late September.

Product updates likely helped, too. The "Juniper" refresh of Model Y rolled out in China in January and reached the U.S., Canada, and Europe weeks later, bringing exterior and interior updates that could have nudged fence-sitters to act. For a vehicle that already represents the bulk of Tesla's volume, even modest improvements can move the needle -- particularly when stacked on top of a closing incentive window.

Q4 could be weak, but that's OK
Investors shouldn't assume Q3's pace will continue -- at least not in Q4. With the federal credit no longer available for vehicles acquired after Sept. 30, the most obvious catalyst that pulled buyers forward is gone. Add the production-delivery gap from Q3, and it's reasonable to expect a sequential step-down in fourth-quarter deliveries as production and orders realign.

The long-term picture, however, remains the more important lens. In Tesla's second-quarter update, management said that "first builds of a more affordable model" occurred in June, with volume production planned for the back half of 2025 (so, any day now). The more affordable model, which is rumored to just be a lower-priced Model Y variant, would widen the company's addressable market and could help drive sales higher next year.

Additionally, Tesla's progress with its autonomous ride-sharing network, Robotaxi, could attract attention to its cars and bolster demand, since all Tesla vehicles are built with self-driving capabilities. As of now, the self-driving technology requires supervision from the driver, but as it gets closer to full autonomy with future software updates, it will likely get more attention from consumers and may morph into a substantial catalyst for sales over time.

The market certainly seems to be looking past a potentially weak Q4. As of this writing, Tesla's market capitalization sits around $1.45 trillion against trailing-12-month net income of about $5.9 billion, giving the stock an extraordinarily high price-to-earnings ratio of about 245. While the valuation leaves little room for error, it could prove to be reasonable over the long haul if deliveries reaccelerate alongside growth in software sales and its energy business.

Ultimately, despite an impressive third quarter, Q4 may step back as the rush fades and production catches up, which is worth keeping in mind at today's valuation. The more consequential factors, however, are still ahead: lower-priced vehicles and early autonomy efforts. These growth initiatives could put deliveries and revenue on a firmer upward path next year. For investors, the case rests less on one quarter and more on the trajectory those catalysts can sustain over time.

Daniel Sparks and/or his clients have positions in Tesla. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy.

No matter which tech company wins the global artificial intelligence (AI) race, this silver miner could soar.

Chances are that you've heard how the real fortunes from the California gold rush weren't made digging for gold. Instead, they were made by people selling picks and shovels. Today, a similar picks-and-shovels opportunity may be shaping up for the $15.7 trillion artificial intelligence (AI) revolution.

Because just as the picks and shovels merchants made money no matter who found the gold, First Majestic Silver (AG 0.41%), already up 100% in recent months, could keep rising, no matter which tech company wins the AI race.

The AI revolution can't proceed without silver
AI data centers could consume as much electricity as all of Japan -- a nation of 125 million people -- by 2030, according to the International Energy Agency. This is why OpenAI CEO Sam Altman in 2024 called for an energy breakthrough to meet the surge in demand, while doubling down in June that a "significant fraction" of global electricity should be devoted to AI.

And with governments around the world bent on decarbonization, these energy needs will largely be met by nuclear power and renewables.

In America, President Donald Trump is quadrupling the number of nuclear reactors. Worldwide, the number of solar installations soared by 64% for the first half of 2025, compared to the first six months of last year. And despite the loss of tax credits for American buyers, BloombergNEF expects almost 22 million electric vehicles to be sold in 2025, a new record.

The turn to clean energy to meet AI's energy needs is a massive boon to silver prices. That's because the average nuclear reactor needs 56,000 ounces of silver, while each solar panel requires about 0.64 ounces. Electric vehicles need about 1.3 ounces of silver, twice as much as the gas-powered cars they're replacing.

Add up the hundreds of millions of solar panels, hundreds of new nuclear reactors, and millions of new electric cars, and it's small wonder that silver prices have surged 60% year to date. And with experts forecasting a supply crunch, it's easy to envision prices climbing still higher.

You can see the AI revolution's impact on silver through the iShares Silver Trust (SLV 2.34%), a fund that buys and stores physical silver. It's returned over 100% since ChatGPT launched in November 2022.

Management touts First Majestic's "best quarter ever"
The silver boom is great news for First Majestic, which is just coming off what CEO Keith Neumeyer calls its "best quarter ever in the company's history," with a 76% jump in silver production year over year, and a 94% jump in revenue.

He also touted the company's record cash flow of $115 million and its total cash of $510 million, calling it "not too bad a place to be." This war chest, against debt of just $235 million, gives First Majestic a debt-to-equity ratio of just 8.08%, which compares favorably to bigger rivals like Pan American Silver (PAAS -0.31%) or Hecla Mining (HL -1.33%), with their respective debt-to-equity ratios of 16.9% and 24.9%.

The Vancouver-based company, valued at roughly $6 billion, is still a mid-cap stock. It has four major silver and gold mines, most notably San Dimas, a mine in Durango, Mexico, which recently saw encouraging exploration results. San Dimas has over 30 million ounces of silver in proven and probable reserves, plus 364,000 ounces of gold in proven and probable reserves, which it costs just $21.06 per ounce to extract. First Majestic can access the 10.5 million ounces of proven and probable silver reserves in its Santa Elena mine even more cheaply, at $14.40 per ounce.

Image source: Getty Images.

But First Majestic isn't content to rest on its laurels. Record spending on exploration is underway, with 255,000 meters expected to be drilled in 2025, compared to 182,909 meters drilled last year.

Clearly, management knows what the ongoing silver boom could mean for the company, and is determined to meet the moment.

And because 55% of First Majestic's revenue comes from silver, compared to 44% for the nearest major miner, it is a compelling opportunity for investors seeking a "pure play" to ride the silver boom.

Can shares keep climbing?
First Majestic shares have soared over 120% year to date, raising questions of whether its rally can continue.

At first glance, shares appear richly valued. First Majestic's price-to-sales ratio of 5.7 is well above the industry average of 2.9. Its forward price-to-earnings ratio stands at 45.3, which is expensive but not prohibitively so.

But investors should keep First Majestic's record cash position in mind. Its $510 million in total cash could allow it to make strategic acquisitions to dramatically grow its mining empire, as it did when it acquired the Los Gatos mine and its 6 million ounces in annual silver production in 2024.

Additionally, a further climb in silver prices would boost First Majestic's earnings and allow it to grow into its valuation.

For investors looking for a way outside of tech to play the global AI revolution, or simply capitalize on an ongoing silver boom, First Majestic could be worth buying.

William Dahl has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF)CEO John Passalacqua spoke with Proactive about the company’s recently launched $15 million private placement and how it strengthens its growth path.  

Passalacqua explained that the financing, conducted under a LIFE offering, is different from the company’s previous raises. It comes on top of $20 million already secured over the past six months, bringing the total raised to $35 million in that timeframe.  

He said the decision to proceed with this placement was aimed at “fully de-risking the company” as it advances its Bégin-Lamarche igneous phosphate mine and begins work on downstream processing facilities. 

He also spoke about the challenge many mining companies face in moving from preliminary economic assessments to feasibility studies and permitting, often referred to as the “Valley of Death.”  

Passalacqua noted that with the current funding, First Phosphate is well-positioned to cross this stage without relying on royalties, debt, or additional dilution. 

Looking ahead, the company is planning metallurgical bulk sampling, definition drilling, and environmental programs this fall.  

These activities will feed into a feasibility study targeted for completion by the end of 2026, with permitting expected by the first quarter of 2027. 

Proactive: Welcome back inside our Proactive newsroom. Joining me now is John Passalacqua, the CEO of First Phosphate. Back with some really big news from the company. You’re here to announce a $15 million private placement. Tell me about the timing and the strategy behind this. 

John Passalacqua: This private placement is through a LIFE offering. It’s different from our previous placements and significantly larger. The LIFE offering allows up to $25 million per year, and we’ve gone out for $15 million. The idea is to fully de-risk the company now that investor interest is strong.  

This is on top of the $20 million we raised in the last five to six months, bringing the total to $35 million raised in that period. It was prudent to strengthen the balance sheet so we can move ahead with permitting for the Bégin-Lamarche igneous phosphate mine and start on downstream processing facilities. 

And what about the capital needs going forward? You’ve raised quite a bit, but there are still things to be done in the next few years. 

Right. In mining, there’s something called the Valley of Death, the stage between a preliminary economic assessment and feasibility studies with permits. For us, that journey is about $30 to $35 million. With this raise and what we already have in treasury, we can now fully de-risk the company.  

Many juniors end up selling royalties or taking on difficult debt to get through this stage. We’ve structured it so we can traverse that period with equity only, avoiding dilution, royalties, or toxic debt. 

With this funding, we can accelerate. We’re hoping to deliver a feasibility study by the end of 2026 and permitting by Q1 of 2027. It also protects our early shareholders who took the bigger risk when the company was less certain. 

And what’s planned for this fall? What should people be watching for before you get into 2026? 

We’ll continue metallurgical bulk sampling to determine mineral concentration, definition drilling for the feasibility study, and environmental programs. All of that will feed into the feasibility study and the final report. 

Store

SubscribeSign In

My Subscriptions

Founder's ClubSwingTraderLeaderboardMarketSurgeeIBDIBD DigitalIBD LiveProfile SettingsCustomer Center

My Stock Lists

Email Preferences

Help & Support

Sign Out

Search stocks or keywords

Sections

My IBD

MARKET TREND

STOCK LISTS

STOCK RESEARCH

NEWSECONOMY

VIDEOS & PODCASTS

HOW TO INVESTEDUCATIONAL RESOURCESStoreMy Products

Founder's ClubSwingTraderLeaderboardMarketSurgeeIBDIBD DigitalIBD Live

Profile Settings

Recently Searched

ASML0.20%

ASML0.20%

AI Play Credo Tech Leads 10 Hot Stocks Onto Best Stock Lists: See New Names On IBD 50, IPO Leaders And More

DAL0.32%

DAL0.32%

Stock Market Books Weekly Gains As Shutdown Continues; Fed Minutes, Bessent Due

When To Throw A Precedent Out And What To Do Next. Oscar, CoreWeave In Focus.

Tesla (TSLA) will release Full-Self Driving v14 on Monday, CEO Elon Musk wrote, big news for Tesla and TSLA stock. Musk wrote early Saturday on his social site that FSD v14's release had been delayed due to a "last minute bug," but said "that gives us time to add a few more features." Back on Sept. 25, Musk had said…

, /PRNewswire/ -- The Kroger Co. (NYSE: KR), said today it has recalled Basil Pesto Bowtie Salad and Smoked Mozzarella Penne Salad that was sold in the Kroger Family of Stores in following states:  AK, AL, AR, AZ, CA, CO, GA, ID, IL, IN, KS, KY, LA, MI, MO, MS, MT, NE, NM, NV, OH, OR, SC, TN, TX, UT, WA and WV.  This follows a recall initiated by Fresh Creative Foods, due to possible Listeria monocytogenes contamination of the pasta ingredient that was manufactured by Nate's Fine Foods of Roseville, CA.

For a complete list of product label

For a complete list of product label images, visit: https://brandfolder.com/kroger/recalls.

For a complete list of product label images, visit: https://brandfolder.com/kroger/recalls.

For a complete list of product label images, visit: https://brandfolder.com/kroger/recalls.

Listeria monocytogenes is an organism which can cause serious and sometimes fatal infections in young children, frail or elderly people, and others with weakened immune systems. Although healthy individuals may suffer only short-term symptoms such as high fever, severe headache, stiffness, nausea, abdominal pain and diarrhea, Listeria infection can cause miscarriages and stillbirths among pregnant women. No reports of illness or injury have been reported to date.  Anyone concerned about an illness should contact a healthcare provider.

The item was sold from the deli full and self-service cases at 1,860 Kroger Family of Stores locations under the following banners: Kroger, Baker's, City Market, Dillons, Fred Meyer, Fry's, Gerbes, King Soopers, Payless, Ralphs and Smith's.  Kroger has removed these items from store shelves and initiated their customer recall notification system that alerts customers who may have purchased recalled products through register receipt tape messages and email alerts.  For a complete list of product label images, click here.

Product

UPC

CODE

Size

BASIL PESTO BOWTIE

PASTA SALAD

217573-10000

SOLD ON:

SEP 6 2025

<thru>

OCT 2 2025

Random Weight

sold at deli service

counter

BASIL PESTO BOWTIE

PASTA SALAD

217573-20000

SOLD ON:

SEP 6 2025

<thru>

OCT 2 2025

Random Weight

Grab-n-Go

packages sold in

Deli Dept. 

SMOKED MOZZARELLA

PENNE SALAD

227573-10000

SOLD ON:

AUG 29 2025

<thru>

OCT 2 2025

Random Weight

sold at deli service

counter

SMOKED MOZZARELLA

PENNE SALAD

227573-20000

SOLD ON:

AUG 29 2025

<thru>

OCT 2 2025

Random Weight

Grab-n-Go

packages sold in

Deli Dept.

The Kroger Family of Stores was notified on September 26 by the salad kit supplier, Fresh Creative Foods, that the supplier of the kit's pasta ingredient, Nate's Fine Foods, had recalled the bowtie pasta due to possible Listeria monocytogenes contamination.   This recall affected 24 Smith's stores in AZ, NM, and NV.   On October 1, Kroger was again notified by Fresh Creative Foods, that the supplier for the kit's pasta ingredient, Nate's Fine Foods, was recalling additional dates of the bowtie pasta as well as penne pasta items due to possible Listeria monocytogenes contamination.

Customers who have purchased the product described above should not consume it and should return it to a store for a full refund or replacement.

Customers who have questions may contact Kroger at 1-800-KROGERS, Monday through Friday 8:00 a.m. ET to 12:00 a.m. ET, and Saturday through Sunday 8:00 a.m. ET to 9:00 p.m. ET.

About Kroger
At The Kroger Co. (NYSE: KR), we are dedicated to our Purpose: To Feed the Human Spirit™. We are, across our family of companies more than 400,000 associates who serve over 11 million customers daily through an eCommerce experience and retail food stores under a variety of banner names, serving America through food inspiration and uplift, and creating #ZeroHungerZeroWaste communities. To learn more about us, visit our newsroom and investor relations site.  

SOURCE The Kroger Co.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+

Newsrooms &

Influencers

9k+

Digital Media

Outlets

270k+

Journalists

Opted In

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Company: Workiva (WK)Business: Workiva is a provider of cloud-based reporting solutions that are designed to solve financial and non-financial business challenges at the intersection of data, process and people. The company offers its unified software-as-a-service, or SaaS, platform that brings customers' financial reporting; environmental, social and governance (ESG); and governance, risk and compliance (GRC) together in a controlled, secure, audit-ready platform. The Workiva platform is multi-tenant cloud software deployed in multiple regions worldwide for assured integrated reporting. The company's platform is built primarily on Amazon Web Services and is composed of both proprietary and open-source technologies. Its Workiva platform helps customers by connecting and transforming data from hundreds of enterprise resource planning, human capital management, and customer relationship management systems, as well as other third-party cloud and on-premises applications.

Stock Market Value: $4.92 billion ($87.46 per share)

Activist: Irenic Capital ManagementOwnership: ~2.0%

Average Cost: n/a

Activist Commentary: Irenic Capital was founded in October 2021 by Adam Katz, a former portfolio manager at Elliott Investment Management, and Andy Dodge, a former investment partner at Indaba Capital Management. Irenic invests in public companies and works collaboratively with firm leadership. Their activism has thus far focused on strategic activism, recommending spinoffs and sales of businesses.

What's happeningOn Sept. 29, Irenic announced that they have taken a roughly 2% position in Workiva and are calling on the company to improve its operating efficiency, review strategic alternatives with fresh board oversight, including a potential sale of the company, and improve corporate governance practices, including collapsing its dual-class share structure. Irenic also called on the company to add two new board members, including Irenic executive Krishna Korupolu, to the board, and noted that they have not ruled out nominating directors if the two sides can't reach an agreement.

Behind the scenesWorkiva is the leading provider of cloud-based reporting solutions, integrating financial reporting, sustainability management, and governance, risk, and compliance, into a sharable, data-integrated, and audit-ready environment. Over 40% of the company's revenue is derived from its SEC filing service, which simplifies regulatory filings and other disclosures for public companies. This is a great business that serves some of the world's largest enterprises, with 95% of the Fortune 100, 89% of the Fortune 500 and 85% of the Fortune 1000 using its platform, supported by an approximately 97% customer retention rate that has enabled consistent mid-teens revenue growth.

But the problem for Workiva lies not in the quality of its business, but rather its lack of profitability. Despite scaling toward more than $1 billion in revenue by 2026 and over 10 years operating in the public markets, Workiva is yet to generate a profit. As a result, Workiva shares currently trade at a roughly 25% discount to application software rivals like Workday and ServiceNow.

This discount and operational challenges have drawn the attention of Irenic Capital, who has disclosed an approximately 2% position in the company and issued a presentation to the Workiva board calling for governance enhancements, operational changes and a review of strategic alternatives.

Governance is a real issue at Workiva and an obvious reason for the discounted stock price. Workiva is still run like a private company with its three founders controlling the company through the dual share class structure. This has led to a staggered board with little relevant experience and five of seven directors serving since the 2014 IPO.

Irenic would like to see the dual class share structure collapsed and the board de-staggered and reconstituted with qualified directors including Irenic executive Krishna Korupolu. In the world of shareholder activism, this is generally tantamount to asking a country like North Korea to convert to a democracy, but Irenic's prospects are not hopeless here (more on that later).

Operationally, you get what you would expect from a founder-controlled company — an extremely bloated SG&A. Much of the margin pressure can be attributed to inefficiencies in the company's operating model, particularly within its sales force, as sales and marketing currently occupy 43% of revenue compared to 31% on average for peers. This has produced an estimated operating margin for calendar year 2025 of 7%, despite having 80% gross profit margins. SaaS companies of this caliber should be able to meet "Rule of 40" targets (operating margins plus revenue growth equal or exceeding 40), a level of efficiency that would be extremely accretive to shareholders, which Irenic believes is achievable by FY 2027.

Workiva currently has an 18% revenue growth rate but spends an inordinate amount of money to get the last couple of percentage points. It should be able to sustain double-digit revenue growth with far less sales force spending, which could in itself meaningfully change the company's margin profile. Combining this with the company's extremely strong pricing power suggests room for significant profitability improvements.

Irenic states that if Workiva is unable to execute as a refocused public company with improved corporate governance, the board (preferably revamped) should run a strategic review, pursuing a sale of the company to determine the best risk-adjusted path for shareholders.

Workiva is a market leader in a secularly growing business with a vast blue-chip clientele and no real number two when it comes to its SEC filing service. The quality of Workiva's business should mean no shortage of private and strategic interest. In fact, in 2022, reports surfaced that PE firms Thoma Bravo and TPG had interest in a potential acquisition. Logical strategic acquirers include similar financial management platforms like Intuit, stock exchange operators (Nasdaq, LSEG, Deutsche Börse), as well as software behemoths such as Salesforce, Oracle and IBM, all of whom could realize meaningful synergies.

Comparable transactions — Smartsheet/Vista Equity (7x revenue), Coupa/Thoma Bravo (8x), AspenTech/Emerson Electric (14x), and AltairEngineering/Siemens (14x) — suggest a 7 to 8 times forward revenue multiple for financial acquirers, which at $1 billion projected revenue for 2026, would imply 40% to 60% upside, with the potential for even higher premiums in a strategic transaction given the potential for significant synergies.

While Irenic's public presence at Workiva has likely piqued the interest of potential acquirers, the bottom line here is, as an effectively controlled company, nothing can happen without the consent of the controlling parties – the three founders, who through a dual class structure control roughly 44% of the voting power.

While such factors can often stifle an activist campaign, there are a few reasons why this situation may be different. First, this is not a founding family but three different founders that are not necessarily aligned and may have grown apart.

Matthew Rizai resigned as chairman and CEO in June 2018 with a nice severance package. This and the fact that he was replaced by co-founder Martin Vanderploeg as CEO and did not even stay on the board indicates that this might have not been as mutual as the company's press release stated. Jeffrey Trom reduced his duties at the company in 2022, resigned in 2023 and ended a consulting relationship in 2024. Additionally, all three founders are over 65 years of age and have been slowly selling shares. Of the three founders, only Vanderploeg remains actively involved in the company as the non-executive chairman and he has 10.6% of total voting power versus 24.6% for Rizai and 9.2% for Trom. At the price that Irenic thinks this company could fetch in a sale, it is hard to believe that they would not be able to get the support of Rizai and/or Trom.

Additionally, Irenic has stated that they have not ruled out nominating directors if the two sides can't reach an agreement and if it does come to that, we would not necessarily assume the three founders are aligned.

Ken Squire is the founder and president of 13D Monitor, an institutional research service on shareholder activism, and the founder and portfolio manager of the 13D Activist Fund, a mutual fund that invests in a portfolio of activist 13D investments.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of VRT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of AMZN, GOOGL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of FEPI either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Tesla has been hit with an enforcement action by California’s Department of Insurance (CDI) for routinely denying or delaying customer claims despite years of warnings from the state regulator, according to a new pair of filings.

Tesla’s insurance arm, along with its partner State National Insurance Company, engaged in “willful unfair claims settlement practices” including “egregious delays in responding to policyholder claims in all steps” of the process and “unreasonable denials,” CDI wrote. This has allegedly caused “financial harm” and “distress to policyholders.”

CDI first approached Tesla about these issues in 2022, according to the filings, yet it claims things have only gotten worse. “In 2025, the Tesla Companies have already had more complaints, more justified complaints, and committed more violations than in the three previous years combined,” the regulator wrote.

Tesla and State National could face penalties up to $5,000 for each “unlawful, unfair, or deceptive act” and up to $10,000 for each “willful” act, according to the filings. The companies have 15 days to respond.

The enforcement action could have knock-on legal effects for Tesla. In July, the company was hit with a proposed class action lawsuit over allegations that the company purposely delayed and minimized claim payouts. CDI wrote Friday that Tesla’s actions may have created “potential third-party liability exposure.” Tesla and State National did not immediately respond to a request for comment.

Tesla launched its in-house insurance product in 2019. The idea was to offer cheaper premiums and faster service. But it got off to a rocky start. The website repeatedly crashed, and when it didn’t, it offered quotes that were far higher than owners expected. Still, Musk promised it would be a “revolutionary” product.

Just three years later, according to CDI’s filings, the regulator noticed a “marked uptick in claims-related consumer complaints” against Tesla. So in December 2022, CDI started meeting with Tesla and State National.

Techcrunch event

San Francisco
|
October 27-29, 2025

The regulator said it learned Tesla’s “Head of Claims” position had been vacant for months. It also accused the companies of not reporting the claims-handling problems.

As a result, CDI subjected Tesla and State National to a sort of probationary period: the regulator monitored the companies’ efforts to reduce these violations for six months. Tesla and State National “conceded” that they had underestimated the volume of claims and the staffing required to handle them, according to CDI, and promised to beef up hiring.

It took Tesla until April 2023 to hire a new Head of Claims. Through the rest of that year, Tesla and State National “reported improvements in the quality” of their claims handling and the “resolution of consumer complaints.”

Later that year, Reuters published an investigation into Tesla’s insurance arm that showed things weren’t so rosy.

CDI came to the same realization in 2024. The regulator noticed a “significant increase” in both consumer complaints against Tesla and “violations of the law,” according to the filings. CDI had received just 83 consumer complaints against Tesla in 2022, but in 2024, that number jumped to 829. In 775 of those cases, CDI found Tesla had violated the state’s insurance code.

Things have only gotten worse, according to CDI. Through September 22 of this year, the regulator has received 1,481 complaints against Tesla, and identified 1,969 insurance code violations.

In total, since 2022, CDI said Tesla has accumulated nearly 3,000 violations of state insurance law. The majority of those violations involve Tesla failing to respond to customers within the mandatory 15-day period. CDI said it identified 166 violations in which Tesla filed to conduct a “thorough, fair, and objective investigation” into a claim.

“CDI repeatedly notified [Tesla] of its claims-mishandling issues and violations of law,” the regulator wrote. “While [Tesla] repeatedly committed to improvements, the number of justified complaints and violations continued to mount, demonstrating [Telsa’s] failure to correct its practices.”

Sean O’Kane is a reporter who has spent a decade covering the rapidly-evolving business and technology of the transportation industry, including Tesla and the many startups chasing Elon Musk. Most recently, he was a reporter at Bloomberg News where he helped break stories about some of the most notorious EV SPAC flops. He previously worked at The Verge, where he also covered consumer technology, hosted many short- and long-form videos, performed product and editorial photography, and once nearly passed out in a Red Bull Air Race plane.

You can contact or verify outreach from Sean by emailing [email protected] or via encrypted message at okane.01 on Signal.

View Bio

Key NotesWLFI price slipped 3% to $0.20 on Saturday despite bullish crypto market sentiment.Treasury token sale to Trump-backed Hut8 sparked skepticism over pricing and use of “locked” tokens.Technical indicators confirm short-term pressure with WLFI pinned below a triple SMA cluster.
World Liberty Financial (WLFI) price fell 3% on Saturday, October 4, hitting $0.20 while the broader crypto market turned higher. The downturn came just hours after WLFI announced a treasury token sale to Trump-backed Hut8.

WLFI recently sold tokens at $0.25 to Hut8 for their treasury. The locked tokens sent from the WLFI treasury were simply to satisfy that sale — not new issuance, not dilution. We appreciate Hut8’s support as a long-term partner. 🦅

— WLFI (@worldlibertyfi) October 3, 2025

According to the project team, Hut8 purchased WLFI tokens directly from treasury reserves at a negotiated rate of $0.25. WLFI clarified that the tokens sold were “locked” reserves and not fresh issuance, stressing that there was no dilution.

I'll be honest, nothing about this post makes much sense

firstly, how are you able to sell "locked tokens"?
secondly, why buy at $0.25 when market price is $0.20?

quite a precedent you've set here

— agents301 (@agents301) October 4, 2025

Still, the market response turned negative, with community members questioning why Hut8 would buy tokens at $0.25 when the market price traded near $0.20. Others raised concerns about how “locked” reserves could be offloaded without clarity on the terms of unlocking.

WLFI volume rises 4% as price declines to $0.20 after token sale to Trump-backed Hut8 | Source: Coinmarketcap, October 4, 2025

CoinMarketCap data showed WLFI trading volumes rose 4% on Saturday, even as the price slipped 3%. This suggests the active sell-offs from existing WLFI holders outpacing new demand, reinforcing bearish sentiment around the treasury deal.

Price Forecast: Will Bears Capitalize on Triple SMA Cluster?
On the daily chart, the WLFI price is trading below all key short-term moving averages, including the 5-day SMA ($0.2023), the 8-day SMA ($0.2050), and the 13-day SMA ($0.2038).

The triple-SMA cluster now forms key resistance zones, with sellers repeatedly defending the $0.2050 ceiling over the past week.

WLFI Technical Price Analysis | Source: TradingView

The Relative Strength Index (RSI) comes in at 44.46,  confirming subdued buying pressure. Unless RSI breaks above 50, WLFI could struggle to generate upward momentum.

Volume analysis also shows Saturday’s candle was accompanied by 51.6M WLFI traded on Binance, showing significant sell-side pressure.

If WLFI bulls manage to clear the $0.2050 resistance cluster, the next upside target lies at $0.2150. Conversely, failure to hold the current $0.20 support could accelerate losses toward $0.1950  last tested in late September.

In summary, the WLFI price outlook leans cautiously bearish as it struggles under triple SMA resistance and a weak RSI. Bulls need a breakout above $0.2050 to regain footing; otherwise, rising volumes on WLFI sell-candles could drag prices to September lows.

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.

Altcoin News, Cryptocurrency News, News

Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.

Ibrahim Ajibade on LinkedIn

Despite the recent rally that saw XRP record daily gains of over 5%, the market is gradually slowing down, seeing its liquidation activity over the last four hours turn in favor of bears, according to data from CoinGlass.

While XRP has become a major topic of debate across the crypto community considering optimism for its predicted rally during the “Uptober” season and the growing buzz surrounding the XRP ETF decisions, it appears that momentum is gradually cooling down.

The data shows that XRP traders have barely participated in its derivatives market in the last four hours, with only $126.83K worth of XRP positions being wiped out during the period.

HOT Stories

However, the mild liquidation trend was heavier on the side of XRP bulls as traders who opened long positions suffered the most losses with $117,470 in longs aggressively wiped out, while short traders only catered for just $9,360 out of the total liquidation.

Is XRP rally over?The outsized liquidation trend witnessed during the period has seen XRP record a huge 1,155% liquidation imbalance as more traders have placed more bets in anticipation for a higher price surge for XRP.

Although the one-sided liquidation activity has happened in favor of bearish traders, the fact still remains that the activity highlights the renewed bullish sentiment driving XRP since the start of “Uptober,” as traders continue to bet for its upsurge regardless of the mid-hour dips.

Notably, the 1,155% liquidation imbalance is one of those extreme gaps that rarely passes unnoticed on the market. While the trend has sparked a bit of fear among traders as bears appeared to have won the liquidation session, analysts have predicted that the trend tends to position short-sellers for high vulnerability to a sharp squeeze if XRP returns to upside in the near hour.

While XRP still maintains a close above the $3 mark, its price has shown a slight reversal with a 1.26% decline over the last day. Hence, market watchers are curiously observing if the next move will show whether longs can rebuild and take advantage against bear traders or deeper liquidations are yet to set in.

Why JPMorgan is calling Bitcoin the “debasement trade” Christina Comben · 22 mins ago · 3 min read

JPMorgan now calls the strategy favoring gold and Bitcoin "the debasement trade," in the face of uncertain macroeconomic and geopolitical conditions.

Oct. 4, 2025 at 11:40 am UTC

3 min read

Updated: Oct. 4, 2025 at 11:40 am UTC

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

JPMorgan is calling Bitcoin the “debasement trade,” which means you’re probably not bullish enough. The world’s biggest investment bank doesn’t hand out nicknames for speculative assets lightly. But Bitcoin has notched 17 years of unstoppable block-after-block resilience, and Wall Street has finally conceded what the cypherpunks have known all along: there is no alternative when trust in fiat runs thin. Like it or not, the moment for cautious optimism has passed.

JPMorgan and the ‘debasement trade’Wall Street is infamous for its double-speak, but JPMorgan’s latest missives cut surprisingly close to the core. By framing Bitcoin as the “debasement trade,” they’re explicitly telling clients: in a world where stimulus checks, trillion-dollar deficits, and rate cuts into persistent inflation are the norm, holding cash or bonds is a mug’s game. To borrow the words of TFTC founder Marty Bent:

“You are not bullish enough.”

It’s not about speculation anymore. It’s about defense. As the dollar’s purchasing power takes its slow, ceaseless tumble, Bitcoin’s capped supply and trustless design feel tailor-made for this era.

With central banks performing fiscal acrobatics and the U.S. government running yearly deficits north of $2 trillion, “asset protection” becomes synonymous not with blue-chip dividends, but with digital scarcity.

If JPMorgan’s institutional clients are piling into Bitcoin, it’s because they see what’s coming: a tide of debasement that no rate hike or fiscal promise will reverse.

‘You grow yourself out of that debt’Cue President Trump’s recent remarks that America “will grow [itself] out of that debt.” Optimism is part of the political job description, but growth alone won’t patch trillion-dollar holes overnight. Stimulus checks fly at each crisis, rate cuts support markets while inflation simmers, and every solution seems to create two new problems.

Underneath this fiscal pageantry, Bitcoin quietly explodes in relevance. Every round of monetary stimulus, every debt-fueled spending spree, every government shutdown suspending key jobs data are tailwinds for Bitcoin.

As Ecoinometrics observes, Q4 is historically bullish for Bitcoin. Year-end portfolio rebalancing, bonus checks searching for yield, institutions scrambling to front-run the latest rate cut or stimulus announcement.

What to Expect for Bitcoin in Q4? Source: EcoinometricsLast year’s EFT flows helped take the price from $60,000 to over $100,000. If flows pick up again, we could be looking at $135,000 per coin by this time next month.

That’s not all. Don’t forget the analysts year-end predictions. Citigroup forecasted a $133,000 BTC, JPMorgan went with $165,000, stating that Bitcoin was underpriced compared to gold, and Standard Chartered estimated a whopping $200,000. As Bitwise CIO Matt Hougan remarked:

“Q4 is going to be fun.”

Where macro meets momentumBitcoin isn’t just a trade. It’s rapidly cementing itself as the “debasement hedge;” the asset with the best asymmetric risk-reward profile in a market addicted to liquidity.

Last year, the ETF rush gave Bitcoin its most powerful quarterly close, pushing it well above the psychological $100,000 barrier. Every sign points toward a replay, especially with U.S. deficit spending and another round (or two) of Fed rate cuts slated for 2025, all while Bitcoin’s supply remains untouched at 21 million.

Let’s get this out in the open: You are not bullish enough, and the evidence backs it up. For almost 17 years, Bitcoin has proven itself more resilient, more predictable, and frankly, more trustworthy than the institutions whose logos once served as bywords for financial safety.

When JPMorgan treats Bitcoin as a core defensive play, it isn’t just a bet on tech; it’s a bet against the old order.

Mentioned in this articleLatest Bitcoin Stories

Story HighlightsThe live price of the Floki memecoin is  $ 0.00010752.The Floki price could reach a maximum of $0.000500 in 2025.FLOKI coin price with a potential surge, may reach a high of $0.00263 by 2030.Floki Inu started like most meme coins: loud, viral, and community-driven. The team behind memecoin, known as the “Floki Vikings,” is now trying to build something far beyond hype. Can FLOKI still skyrocket? Here’s what’s happening.

One of the biggest moves came on June 30, 2025, with the launch of its Valhalla mainnet on opBNB. This play-to-earn game isn’t just for fun, driving real use for the tokens. Since launch, the game has recorded over one million transactions and seen 125,000 NFTs minted. Further, Mobile access is also planned, which would help attract more users.

Like many meme coins, it is ready for a bullish reversal after weeks of pullback. Curious about how FLOKI will navigate this phase? Join us as we explore the possible FLOKI coin price prediction 2025, 2026 – 2030.

OverviewCryptocurrencyFLOKITokenFLOKIPrice $ 0.00010752 24.17% Market Cap $ 1,025,648,385.6049Trading Volume $ 497,107,244.8714Circulating Supply 9,539,454,949,246.10All-time High$0.0003462 on 05th June 2024All-time Low$0.0…2 on 09th August 2021Recently, it has made headlines by becoming the first crypto project to file a MiCAR-compliant white paper with the European Securities and Markets Authority. Submitted by LCX, a licensed European exchange, this gives FLOKI the green light to trade legally across all compliant EU platforms. The project is also working on expanding the Floki Card and digital banking tools, and planning new regional partnerships.

Floki coin price could land at a maximum of $0.000500 by the end of the year. That said, if the community drives the price with usual buying and selling pressures, this meme-coin could trade at an average price of $0.000250.

On the downside, if the investors fail to keep up with the liquidity of the digital asset on exchanges. Then, FUD and negative sentiments might lower the price to $0.000099.

YearPotential LowPotential Average Potential High2025$0.0000999$0.000250$0.000500Also, read Pepe Price Prediction 2025, 2026 – 2030!

FLOKI Price Prediction 2026 – 2030YearPotential Low ($)Potential Average ($) Potential High ($)20260.0002500.0005350.00082020270.0006000.0008000.0010020280.0009990.001240.0015020290.001200.001590.0019920300.001530.002030.00263FLOKI Price Forecast 2026According to our analysts, the FLOKI coin price prediction for 2026 could range between $0.000250 and $0.000820, and the average price of the FLOKI coin could be around $0.000535.

FLOKI Crypto Price Prediction 2027According to our analysts, the FLOKI price for 2027 could range between $0.000600 and $0.00100, and the average price of FLOKI could be around $0.000800.

FLOKI Prediction 2028According to our analysts, FLOKI crypto prediction for 2028 could range between $0.000999 and $0.00150, and the average FLOKI coin price could be around $0.00124.

FLOKI Coin Price Prediction 2029According to our analysts, the FLOKI forecast for 2029 could range between $0.00120 and $0.00199, and the average FLOKI coin price could be around $0.00159.

FLOKI Price Prediction 2030According to our analysts, FLOKI predictions for 2030 could range between $0.00153 and $0.00263, and the average FLOKI price could be around $0.00203.

Market AnalysisFirm Name202520262030Wallet Investor$0.000318$0.000471–Priceprediction.net$0.000220$0.000323$0.0016DigitalCoinPrice$0.000425$0.000625$0.00127*The targets mentioned above are the average targets set by the respective firms.

CoinPedia’s FLOKI Price PredictionAccording to CoinPedia’s formulated FLOKI coin price prediction. If the bulls barge in, then FLOKI might hit feasible highs of $0.000500 by the end of 2025.

On the downside, if the meme coin falls prey to bearish trends led by massive liquidations. The price could entangle into a bearish hook and hit the bottom at $0.0000999.

We expect the Floki price to reach a high of $0.000500 by the end of 2025.

YearPotential LowPotential Average Potential High2025$0.0000999$0.000250$0.000500FAQsWhere to buy Floki?

There is a wide choice of exchanges, from mainstream exchanges (such as eToro) to smaller exchanges (such as Bitstamp).

How to buy Floki on Coinbase?

Floki is available through Coinbase Wallet.

Is Floki a good investment?

Floki price will rise as more people learn about cryptocurrencies and adopt them. Floki has long-term potential.

Will Floki reach $1?

It is highly unlikely that FLOKI will hit $1.

How can I buy Floki?

Once you’ve added ETH to Decentralized Wallet, you can swap your ETH for FLOKI right in the mobile app or browser extension.

Is Floki listed on Binance?

Binance has listed FLOKI (FLOKI) and Pepe (PEPE) in the Innovation Zone.

Disclaimer and Risk WarningThe price predictions in this article are based on the author's personal analysis and opinions. CoinPedia does not endorse or guarantee these views. Investors should conduct independent research before making any financial decisions.

United State Representative Cleo Fields of Louisiana is in the spotlight after a July stock trade in Bitcoin (BTC) miner IREN Limited (NASDAQ: IREN) turned into one of his most lucrative moves.

Filings indicate that on July 10, 2025, Fields purchased between $15,001 and $50,000 worth of IREN shares. The transaction, disclosed in early August, has coincided with a 196% surge in IREN’s stock over roughly three months.

IREN one-week stock price chart. Source: Finbold
Indeed, the politician has previously been involved in high-profile stock trades, prompting allegations of leveraging non-public information.

For instance, among his most recent congress trades, in the days leading up to Oracle’s (NYSE: ORCL) emergence as a key partner in the U.S. acquisition of TikTok, Fields purchased between $80,000 and $200,000 worth of Oracle stock across three trades on September 17, 18, and 23. 

Receive Signals on US Congress Members' Stock Trades

Stocks

Stay up-to-date on the trading activity of US Congress members. The signal triggers based on updates from the House disclosure reports, notifying you of their latest stock transactions.

Oracle was later confirmed to oversee TikTok’s algorithm under an executive order on September 25, with reports of the deal emerging publicly on September 22.

However, Fields has denied any wrongdoing in his stock trades.

IREN’s bullish fundamentals 
Meanwhile, several fundamental factors have contributed to the stocks’ recent rally. Notably, IREN, formerly known as Iris Energy, has rapidly expanded its Bitcoin mining capacity, reaching 50 exahashes per second earlier this year. 

The company has emphasized efficiency, claiming one of the lowest production costs in the industry by leveraging renewable energy for its data centers. 

As Bitcoin’s price has strengthened throughout 2025, IREN’s mining margins have widened significantly.

What truly ignited investor enthusiasm, however, was IREN’s pivot into artificial intelligence. Building on its data center footprint, the company has begun deploying high-end Nvidia (NASDAQ: NVDA) GPUs, including the latest H100 and Blackwell series chips, to power cloud infrastructure for AI workloads.

In August, IREN secured “preferred partner” status with the American chipmaker, a designation that provided both credibility and priority access to scarce hardware. 

This news, combined with strong quarterly earnings showing a 228% jump in revenue and a return to profitability, has made IREN one of the market’s hottest dual plays in crypto and AI.

Featured image via Shutterstock

Solana (SOL) has once again become the center of attention in the crypto markets, rallying toward the $233 resistance level and sparking renewed debate about its future role in global finance. The surge comes after a strong endorsement from Bitwise CIO Matt Hougan, who labeled Solana as “the new Wall Street.

Key takeaways:

Wall Street’s year-end Bitcoin forecasts range from $133,000 to as high as $200,000.

Most agree that persistent Bitcoin ETF inflows and gold correlation may shoot BTC to new record highs.

Bitcoin (BTC) has bounced by over 13% in the past seven days and is inching toward its record high of $124,500.

BTC/USD daily price chart. Source: TradingViewBitcoin is poised to reach new record levels by the end of 2025, according to top Wall Street and UK financial institutions.

Citigroup sees BTC reaching $133,000Citigroup expects Bitcoin to end 2025 at around $133,000, setting a new record high. That implies a relatively modest 8.75% upside from current price levels at around $122,350.

BTC/USD daily price chart. Source: TradingViewThe banking giant’s base case projects steady growth supported by robust inflows from spot exchange-traded funds (ETFs) and digital asset treasury allocations, which it sees as the key structural drivers of Bitcoin’s next leg higher.

As of Saturday, all US-based Bitcoin ETFs were managing over $163.50 billion in BTC. Citi estimates that fresh ETF inflows will be about $7.5 billion by year-end, helping to sustain demand.

BTC US spot ETF balances. Source: GlassnodeHowever, Citi’s bear case puts Bitcoin as low as $83,000 if recessionary pressures intensify and risk sentiment fades.

JPMorgan analysts: Bitcoin to $165,000 in 2025Bitcoin remains undervalued relative to gold when adjusted for volatility, according to a team of JPMorgan Chase strategists led by managing director Nikolaos Panigirtzoglou.

The Bitcoin-to-gold volatility ratio has dropped below 2.0, meaning Bitcoin now absorbs about 1.85 times more risk capital than gold, they wrote in the latest report published on Wednesday.

Bitcoin and gold’s volume-adjusted comparison. Source: JPMorgan ChaseBased on this ratio, Bitcoin’s current $2.3 trillion market capitalization would need to climb by roughly 42%, implying a theoretical BTC price of around $165,000, to match the estimated $6 trillion in private gold holdings across ETFs, bars, and coins.

Gold, often viewed as Bitcoin’s traditional macro counterpart, is up roughly 48% year-to-date, putting it on track for its best annual performance since 1979.

XAU/USD yearly performance chart. Source: TradingViewHowever, the yearly relative strength index (RSI) for the XAU/USD pair has climbed to nearly 89, its most overbought reading since 2012.

This is a level that historically preceded deep, multiyear corrections of 40–60%. Therefore, gold’s uptrend may lose steam in the coming weeks.

Meanwhile, BTC has shown an 8-week lagging correlation with gold in recent years, further reinforcing JPMorgan’s outlook for a year-end Bitcoin rally if capital rotates from the precious metal.

Source: XJPMorgan’s bullish outlook also assumes a steady stream of spot ETF inflows as the Federal Reserve continues its rate-cutting cycle in the coming months.

Standard Chartered leads with a bold $200,000 callStandard Chartered remains the most optimistic among major banks, predicting Bitcoin could reach $200,000 by December.

Like Citigroup and JPMorgan, the bank’s analysts cite sustained ETF inflows—averaging over $500 million per week—as a key driver that could lift Bitcoin’s total market capitalization closer to $4 trillion.

US Bitcoin ETF Weekly Net Flows Chart. Source: Glassnode Growing institutional adoption, alongside a weakening US dollar and improving global liquidity conditions, could set the stage for another parabolic move similar to Bitcoin’s 2020–2021 bull run, the analysts explain.

US Dollar Index vs. BTC/USD: Weekly Performance Comparison Chart. Source: TradingViewStandard Chartered’s analysts frame the $200,000 scenario as a “structural uptrend” rather than a short-term speculative rally.

VanEck sees Bitcoin climbing to $180,000 in 2025Asset manager VanEck projects that Bitcoin could reach around $180,000 by 2025, citing post-halving cycle dynamics.

The firm argues that the April 2024 halving has set the stage for a supply squeeze, with ETF demand and digital asset treasuries providing the structural fuel for the next leg of the upward trend.

Bitcoin’s performance since the halving is once again mirroring previous four-year cycles, as shown in the chart below.

Bitcoin price performance since halving. Source: GlassnodeHistorically, Bitcoin has reached its cycle peaks between 365 and 550 days after a halving. As of Saturday, it has been 533 days since the halving, placing it firmly within the historical window for big rallies.

Saad Ahmed, Gemini’s head of APAC, told Cointelegraph that Bitcoin’s cycle could extend beyond that range, noting that its four-year rhythm is “driven more by human emotion than pure math” and will “very likely continue in some form” into 2026.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Ethereum is preparing for a major network upgrade called Fusaka, expected to go live in December, which could significantly reshape how users experience the blockchain. According to a September market recap from asset manager VanEck, Fusaka directly addresses one of Ethereum’s biggest scaling hurdles: data availability for rollups. These layer-2 solutions batch transactions before finalizing them on Ethereum, enabling faster and cheaper interactions.

The core innovation in Fusaka is Peer Data Availability Sampling (PeerDAS). Unlike the current setup where validators must download all transaction data, PeerDAS allows validators to verify blocks by sampling smaller data segments. This reduces bandwidth and storage needs, paving the way to safely expand Ethereum’s “blob” capacity—the special data slots reserved for rollups. By boosting blob capacity, rollup transaction costs can decline, making Ethereum-based applications more affordable for everyday users.

This change comes as demand for rollup space continues to surge. Developers already doubled blob limits earlier this year, and usage shows no signs of slowing. Platforms like Coinbase’s Base and Worldcoin’s World Chain now account for roughly 60% of all rollup data submissions, underlining the central role of L2s in Ethereum’s growth. Fusaka is expected to reduce fees further, benefiting both developers and end users.

VanEck also emphasized the broader implications for ETH. While base-layer transaction fee revenue has fallen as more activity shifts to rollups, Ethereum’s importance has not diminished. Instead, ETH’s role as the security backbone for settlement grows stronger, reinforcing its position as a monetary and institutional asset. However, unstaked ETH holders may face dilution as more institutional players—ranging from ETFs to crypto treasuries—accumulate and stake ETH for yield.

By lowering L2 costs, strengthening Ethereum’s security model, and driving institutional adoption, Fusaka represents a pivotal milestone in the network’s rollup-centric roadmap. Though technical challenges remain, this upgrade signals a significant step toward scaling Ethereum sustainably while ensuring cheaper, more efficient user experiences.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

Bitwise, a leading crypto asset manager with over $3.2 billion under management, has officially filed for an S-1 registration with the U.S. Securities and Exchange Commission (SEC) for the first-ever Aptos (APT) spot ETF on 4th October 2025.

The news sent ripple effects through the market, driving Aptos’ price up over 30% in a week, with the token jumping to a new local high of $5.37.

Through a recent tweet post, Bitwise CEO Hunter Horsley announced that the firm has submitted an active S-1 registration for a spot Aptos ETF with the U.S. SEC, highlighting growing interest in tokenized products beyond established networks like Bitcoin and Ethereum. 

Aptos is the second major Layer 1 protocol, after Solana, to see ETF-focused inflows this quarter. Bitwise’s S-1 filing is particularly significant because spot ETFs allow direct exposure to the underlying asset. 

If approved, Bitwise’s Aptos ETF could unlock billions in new capital and drive further adoption of native Aptos-based DeFi, NFT, and gaming platforms.

Aptos Ecosystem Grows StrongerThe Aptos network has steadily expanded with new decentralized applications and partnerships. Last year, in October, Tether (USDT) launched natively on Aptos. Since then, its supply has grown eightfold, reaching $680 million, and now represents nearly 75% of Aptos’ total stablecoin supply. 

In addition, the network supports PYUSD and tokenized assets from major institutions like BlackRock and Franklin Templeton.

The rise reflects ecosystem expansions, stablecoin adoption, and ETF-related anticipation.

Aptos Price Surge Over 30%Within hours of the filing announcement, Aptos surged from $4.62 to $5.37, with trading volumes exceeding $614 million, marking a two-month high for both price and volume. 

While regulatory approval is not guaranteed, Bitwise’s filing highlights confidence in Aptos’ potential. All eyes are now on the SEC, whose final decision could shape the next wave of Layer 1 token adoption.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.