Market Signal Briefing

Key NotesHYPE price rally comes with daily volumes up 20% to $690 million and open interest rising to $1.55 billion.Following the renewed bullish sentiment, the DEX altcoin is eyeing a major breakout rally all the way to its all-time highs.Hyperliquid Strategies Inc will issue around 160 million shares of common stock to fund its HYPE token acquisition plan.
Defying the broader crypto market downside on Oct. 23, HYPE

HYPE
$39.26

24h volatility:
11.5%

Market cap:
$10.63 B

Vol. 24h:
$714.95 M

, the native cryptocurrency of the Hyperliquid decentralized exchange (DEX), has registered a sharp 12% upside. HYPE price rally comes following $1 billion acquisition plan announced by Hyperliquid Strategies. This development has helped the DEX altcoins to recover from the weekly lows of $34.

HYPE Price Recovers on Major Treasury Announcement
As of press time, Hyperliquid’s native cryptocurrency HYPE is trading 12% up at $38.92, bouncing back from the support of $35. The altcoin is currently testing the key weekly resistance, breaking past which could set the stage for further rally.

This HYPE price rally comes with a 20% surge in daily trading volumes to $690 million, highlighting strong trading activity. According to the CoinGlass data, the HYPE futures open interest has surged 20% to $1.55 billion, showing that investors and traders are bullish on future price action.

The volatility over the last week has been largely due to the token unlock news creating market fear. However, the development of $1 billion in HYPE treasury has triggered renewed optimism among traders. HYPE has been under pressure amid the ASTER token rally in September, which grabbed major limelight.

HYPE price is showing a potential bullish breakout from the descending channel pattern. Breaking this could set the stage for a sustained rally upside, to its all-time high to $60.

HYPE Price eyes major breakout | Source: TradingView

On the other hand, decentralized crypto exchange Hyperliquid is working on its perpetual market expansion through the rollout of Hyperliquid Improvement Proposal 3 (HIP-3). The upgrade aims to strengthen Hyperliquid’s infrastructure and optimize deployment efficiency across its perpetual trading markets.

Hyperliquid Strategies to Accumulate $1 Billion of HYPE
Hyperliquid Strategies has filed with the US SEC to raise up to $1 billion through a new equity offering. The goal is to strengthen its balance sheet and support a strategic accumulation of HYPE tokens.

According to the S-1 filing, the company plans to issue up to 160 million shares of common stock via a committed equity facility with Chardan Capital Markets. Proceeds from the offering will be directed toward general corporate operations and potential token purchases.

The firm was established through an ongoing merger between Nasdaq-listed Sonnet BioTherapeutics and special-purpose acquisition company Rorschach I LLC. The combined entity will list on Nasdaq later this year under a new ticker symbol.

Former Barclays CEO Bob Diamond, as Chairman, will be heading the leadership team with David Schamis as Chief Executive Officer.

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.

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

Bhushan Akolkar on X

Some of Bitcoin’s biggest holders, popularly known as whales, are quietly moving billions of dollars’ worth of coins into spot exchange-traded funds (ETFs).

On Oct. 21, Bloomberg reported that these whales executed roughly $3 billion in in-kind transfers through BlackRock’s iShares Bitcoin Trust (IBIT). Instead of selling, they handed their Bitcoin to the ETF in exchange for fund shares, a process known as custom creation.

Notably, this migration was made possible by a July 2025 SEC policy change approving in-kind creations and redemptions for crypto ETFs. The rule lets authorized participants deliver the underlying Bitcoin rather than cash, aligning digital-asset funds with commodity ETF practices used for gold or oil.

Meanwhile, this move presents a structural shift that could redefine how the flagship digital asset functions within global markets.

Bloomberg ETF analyst Eric Balchunas described it as a turning point, noting that even long-time crypto purists recognize traditional finance’s advantages.

He said:

“Tradfi (ETFs in particular) is more badass than crypto thinks.”

Why are Bitcoin whales turning to ETFs?Nicolai Søndergaard, a research analyst at Nansen, told CryptoSlate that the ETF creations allow whales to defer taxes by swapping Bitcoin for fund shares.

According to him, this helps these cohorts to preserve their BTC exposure without selling. He also noted that the actions are “bullish because it removes Bitcoin from circulation.”

However, he pointed out that the “downside is not being able to trade 24/7 and having to stick to normal trading hours, but it is likely that these whales aren’t active traders anyway.”

Meanwhile, analysts at Bitunix told CryptoSlate that Bitcoin whales engage in these portfolio trades because the move transforms their decentralized wealth into assets recognized by traditional finance.

According to them:

“This marks a deeper phase of institutional integration for crypto markets. Bitcoin is evolving from an anti-establishment symbol into a regulated asset class, redefining its capital efficiency and legitimacy.

For institutional players, the ETF structure enables leverage, compliance, and formal inclusion within multi-asset portfolios—making Bitcoin a viable liquidity component alongside bonds and equities.”

However, they cautioned that this evolution comes with a trade-off. As more Bitcoin becomes locked within ETFs, the market could split into two distinct layers, “regulated Bitcoin,” functioning as a financialized, collateral-bearing asset, and “on-chain Bitcoin,” maintaining its decentralized, autonomous roots.

Crypto analyst Shanak Anslem Perera echoed this view while arguing that the ETF-held Bitcoin can now be treated as marginable collateral, repo-eligible, and borrowable at rates around 4–6%, all while reserves remain cryptographically verifiable.

Perera explained that this evolution transforms Bitcoin from a volatile trading instrument into a functional financial infrastructure capable of supporting lending and leveraged portfolios.

He claimed:

“This isn’t ‘adoption.’ It’s monetary architecture rewriting itself in real time: decentralized scarcity reprogramming centralized liquidity.”

In addition, Wes Gray, the founder of Alpha Architect, suggested the whales might have taken these actions to protect themselves from attackers. He said:

“[It is] also nice to avoid the wacko dude with a gun who shows up to your house and demands that u transfer 10 btc or it’s game over.”

Notably, the crypto industry has seen an uptick in wrench attacks targeting crypto holders following BTC’s rise to a new all-time high this year.

How will this impact Bitcoin?Analysts at Bitfinex told CryptoSlate that the growing wave of in-kind ETF creations is neutral to bullish in the short term but structurally bullish over the long run.

They explained that this trend lays the foundation for a financial system where Bitcoin’s decentralized scarcity underpins centralized liquidity.

Considering this, they projected that BlackRock’s iShares Bitcoin Trust (IBIT) could see its assets under management (AUM) rise from $86.8 billion to over $100 billion by November, as tax-deferred conversions continue to absorb coins from self-custody into regulated funds.

While these swaps don’t create new buying pressure, they expand ETF AUM mechanically, tighten the circulating supply through cold-storage custody, and solidify Bitcoin’s role as institutional-grade collateral.

Bitfinex added that the ETF holdings could grow by another 10–15% in Q4, even without significant net inflows.

They noted that this dynamic may trigger a mechanical supply squeeze as the 12 BTC ETFs now hold roughly 1.35 million coins (or 6.8% of Bitcoin’s circulating supply). With fewer coins available on exchanges, the marginal inflows could have an outsized impact on price discovery.

Coupled with the Federal Reserve’s ongoing monetary easing (policy rates currently between 4.00% and 4.25%), this contraction in available supply could amplify upside momentum, potentially driving Bitcoin’s price from around $108,000 today to roughly $140,000 by mid-2026.

Mentioned in this article

Thu, 23/10/2025 - 10:25

Shiba Inu is certainly saved after a fundamental flip of the price trajectory on the market, as the price has hit an important support level.

Cover image via U.Today

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Shiba Inu may be settling in after weeks of upheaval. After a steep decline that erased most of its short-term gains, the meme token now seems to have formed a solid fundamental support zone, which could pave the way for a comeback.

Shiba Inu's crucial levelSHIB, which is currently trading at about $0.0000101, is at a crucial technical level that has historically functioned as both a support and a resistance zone. The asset has tested this area several times in the last few sessions, and each time, there has been buying interest, indicating that the market might be getting ready for a recovery.

SHIB/USDT Chart by TradingViewIn addition, following the panic-driven decline in early October, the price action has started to level off. Declining trading volumes are a common indication of consolidation prior to a possible move. The Relative Strength Index (RSI), on the other hand, is currently trading close to 38, suggesting that SHIB is in slightly oversold territory, a technical state that frequently precedes brief recoveries.

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SHIB needs moreSHIB has made three touches of its ascending trendline support, creating a discernible base from a structural standpoint. In the past, notable upward reversals have been initiated by comparable multitouch levels. SHIB may regain the $0.000011-$0.000012 range if this support holds, with a more aggressive target close to $0.000013, where the 200-day moving average (black line) is currently located.

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However, prudence is still necessary. Since the moving averages, especially the 50-day and 100-day (blue and orange lines), are still sloping downward, the overall trend is still bearish for the time being. SHIB must close firmly above these levels, indicating renewed market strength, before bulls can fully retake control.

But for holders, this recent stabilization gives them hope. SHIB may at last be laying the groundwork for a longer-term recovery, now that the support has been thoroughly tested and selling pressure is lessening. A quick reversal might ensue if momentum continues to build, transforming this support zone into the starting point for SHIB’s subsequent rally.

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Crypto analysts think Bitcoin might have one more ugly drop left before the bull market can really get going again.

The upcoming cryptocurrency treasury will center its operations on the Hyperliquid ecosystem.
Sonnet BioTherapeutics, a biotech business listed on the Nasdaq, and Rorschach I LLC, a special purpose acquisition company, are merging to establish Hyperliquid Strategies.

In an S-1 registration statement submitted to the U.S. Securities and Exchange Commission (SEC), the newly formed digital asset treasury firm Hyperliquid Strategies has announced its intention to raise $1 billion for several objectives, one of which is the accumulation of Hyperliquid’s native token HYPE.

Rorschach I LLC, a special purpose acquisition corporation, and Sonnet BioTherapeutics, a biotech company listed on the Nasdaq, are now merging as part of Hyperliquid Strategy. The upcoming cryptocurrency treasury will center its operations on the Hyperliquid ecosystem.

Boosting HYPE Token Holdings
Hyperliquid Strategies said on Wednesday in its S-1 registration statement with the US Securities and Exchange Commission that it intends to sell up to 160,000,000 common shares to finance future acquisitions of Hyperliquid (HYPE) and other business costs. The offering’s financial advisor is Chardan Capital Markets.

Sonnet BioTherapeutics, a biotech business listed on the Nasdaq, and Rorschach I LLC, a special purpose acquisition company, are merging to establish Hyperliquid Strategies. Former Barclays CEO Bob Diamond will take over as chairman of the merged company, while David Schamis will head up operations as CEO.

In the last 24 hours, the HYPE token has rallied over 8% to $37.73 due to the news, while the overall cryptocurrency market has declined 0.6% according to statistics from CoinGecko.

According to CoinGecko statistics, Hyperliquid Strategies will become the biggest corporate HYPE holder with the $305 million in addition to buying additional HYPE tokens. The HYPE token, issued by Hyperliquid, will have its treasury holdings strengthened with the funds from the fundraising.

The treasury now has 12.6 million HYPE tokens and $305 million in cash. The firm intends to expand its activities in the expanding decentralized finance landscape, building upon this base.

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.

The recent market recovery has seen the XRP price look to break the $2.5 level again, which could lead to a continuation of the uptrend. While all eyes remain on the $3 level to be reclaimed right now, bullish expectations abound for the altcoin. The XRP price, despite suffering recent crashes, is expected to reach new all-time highs, beating the $3.8 peak that has been persistent for over seven years now.

What Happens If The XRP Price Regains Momentum
Pseudonymous crypto analyst, “Guy on the Earth”, has shared an analysis of the XRP price that shows the possibilities that lie ahead for the cryptocurrency. So far, the altcoin has continued to consolidate after its rally back in 2024. With almost a year stuck in a consolidation trend and the market picking up, it is possible that the XRP price is finally ready for a breakout.

One thing that stands out from here is the fact that the XRP price has continued to maintain higher lows through the consolidation trend. This suggests that while the direction may have been down, the overall sentiment still pointed to possible recovery and upside.

Given this, it is expected that the breakout from the consolidation phase would be massive. This could be akin to what was experienced back in November 2024, when the XRP price rallied by over 600% before reaching a top.

The analyst expects XRP to enter into what is essentially a “euphoric phase,” and the price is expected to reach $6. This would translate to an over 100% increase in price, and brand new all-time highs for the first time since 2018.

Source: X
The Bears Are Still Lurking
While most indicators are still pointing toward bullishness, there is still the possibility that bears reclaim control once again. The main problem would arise if the XRP price were to fall below $2, setting the tone for the next wave of declines.

The crypto analyst highlights that a decline below $2 would mean that the bull rally is over and the bear market is looming into view. In the worst-case scenario, the XRP price would fall into a longer consolidation trend, pushing it as low as $1.

Presently, it is important for the XRP price to clear $3 with momentum, putting the bulls in charge. Also, if the Bitcoin price continues to rise, then it could take the whole market into another bull run.

Price pushes back against bears | Source: XRPUSDT on Tradingview.com
Featured image from Dall.E, chart from TradingView.com

Paxos accidentally minted 300 trillion PayPal USD (PYUSD) tokens before burning them minutes later.

Ripple co-founder Chris Larsen has quietly turned years of XRP holdings into a staggering $764 million profit, according to new CryptoQuant data. Once seen as a long-term holder, Larsen’s timing now appears almost surgical, often selling near market peaks. 

His latest $120 million XRP transfer has raised questions about the sell-off; however, it isn’t a routine move. 

Larsen’s $764 Million Realized ProfitAccording to on-chain data from CryptoQuant analyst Maartunn, Chris Larsen’s profit from XRP stayed below $200 million until early 2025. However, it later rose to around $764 million as XRP’s price surged following Ripple’s victory in its case against the SEC.

What makes this more interesting is that Larsen has often sold XRP near local highs, a practice that has historically influenced whale behavior and prompted broader market liquidity movements.

😱 Chris Larsen (Ripple co-founder) has realized $764,209,610.42 (!!) in profits since January 2018.

Yes, the latest sale is tied to EvernorthXRP. But this isn’t an isolated event.

Larsen has a recurring habit of cashing out near local highs.

Zoom out. See the bigger picture. https://t.co/828ToHjC6T pic.twitter.com/53jW6hk92X

— Maartunn (@JA_Maartun) October 23, 2025 Earlier this week, he moved 50 million XRP, worth about $120 million, which caused worry among traders who feared another major sell-off.

However, Larsen later explained that the transfer was linked to Evernorth, part of Ripple’s $1 billion treasury plan, which focuses on supporting the XRP ecosystem and boosting its institutional growth.

Larsen Holds 2.5 Billion XRP TokensChris Larsen, who still holds around 2.5 billion XRP, remains one of the largest individual holders of the token. His recent activity reflects a pragmatic approach, realizing profits during price surges while continuing to support the XRP ecosystem through initiatives like Evernorth.

Analysts point out that with over 93% of XRP’s total supply currently in profit, many holders are choosing to secure gains. 

​Evernorth’s Role in XRP Capital MarketsEvernorth Holdings, backed by Ripple and other major industry players such as SBI, Pantera Capital, Kraken, and GSR, aims to raise $1 billion to create the largest publicly traded XRP treasury. 

Larsen’s capital commitment and token transfer to Evernorth underscore his confidence in institutionalizing XRP liquidity.

As of now, XRP price is trading around $2.41, reflecting a jump of 1% seen in the last 24 hours, with a market cap hitting $144.38 billion.

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The European Union has adopted its 19th sanctions package against Russia, introducing restrictions on cryptocurrency platforms for the first time since the war in Ukraine began.

The new measures, adopted Thursday, prohibit Russia-based crypto payment providers and the distribution of related payment software across the bloc. The sanctions also target Russian energy firms, banks, and entities in China, Kyrgyzstan, Tajikistan, Hong Kong and the United Arab Emirates, accused of helping Moscow evade previous restrictions.

“We have just adopted our 19th package of sanctions,” said Kaja Kallas, the EU’s high representative for foreign affairs and security policy. “It targets Russian energy, banks, crypto exchanges, and entities in China, among others. The EU is also regulating the movements of Russian diplomats to counter attempts at destabilisation.”

Nineteenth package of sanctions against Russia. Source: European Council
EU sanctions Russian ruble-backed A7A5 stablecoinAccording to the European Council, Russia has increasingly turned to digital assets to bypass financial sanctions.

“Recent activity has evidenced Russia’s increasing use of crypto in circumventing sanctions,” the Council said Thursday.

The package includes a bloc-wide ban on the A7A5 ruble-backed stablecoin, which EU authorities described as “a prominent tool for financing activities supporting the war of aggression.”

This includes a prohibition on the Kyrgyz issuer of the stablecoin and the operator of an unnamed digital asset platform where “significant volumes” of A7A5 were traded.

At least eight banks and oil traders from Tajikistan, Kyrgyzstan, Hong Kong and the United Arab Emirates are also subject to a transaction ban for circumventing EU sanctions.

The EU first proposed blocking Russian crypto platforms a month ago, on Sept. 19, followed weeks later by discussions to ban the A7A5 stablecoin.

Russian oil companies have reportedly used cryptocurrencies like Bitcoin (BTC) and Tether’s USDt (USDT) to circumvent sanctions, conducting tens of millions of dollars in monthly payments, Reuters reported in March, citing anonymous sources.

In July, two Russian citizens residing in New York were charged with facilitating payments for sanctioned Russian entities.

Iurii Gugnin, also known as George Goognin and Iurii Mashukov, was charged with 22 criminal counts, including the laundering of over $540 million through his crypto companies, Evita Investments and Evita Pay.

Magazine: Bitcoin is ‘funny internet money’ during a crisis: Tezos co-founder

In brief
An Ethereum whale has bought $32 million in ETH, signaling institutional interest amid corporate accumulation.
A Solana whale sold $93 million, indicating "waning whale confidence" in the asset.
A Bitcoin whale netted $835,000 profit, closing a short position as the market hints at a potential bottom.
With Bitcoin trading in a tight range, the crypto market continues to remain on the sidelines, leading to an uptick in speculation from large investors.

A newly created wallet purchased $32 million worth of Ethereum on crypto exchange OKX at an average price of $3,824, per Arkham data.

The whale’s purchase comes after SharpLink and Bitmine Immersion Technologies announced the accumulation of 203,826 and 19,271 ETH, respectively, last week.

The purchases are worth $792 million and $74.9 million, respectively, with Ethereum currently trading around $3,882, up 1.2% on the day, according to CoinGecko data.

“The newly created wallet’s purchase is likely fueled by digital asset treasury inflows,” Jamie Elkaleh, CMO, Bitget Wallet, told Decrypt, suggesting that the accumulation has also “boosted institutional interest and liquidity.”

The corporate and whale interest in Ethereum stands in contrast to ETF flows.

U.S. Bitcoin spot exchange-traded funds drew in a $335.43 million weekly inflow as of Wednesday, but saw a net outflow of $22.80 million for Ethereum over the same period, according to SoSoValue data.

Whales making movesWhile Ethereum attracts capital, Solana is seeing significant distribution.

A whale that acquired Solana four years ago has transferred 515,000 SOL, worth approximately $93 million, to Binance over the past four months. The address still holds 828,000 SOL worth $150 million, a tweet from EmberCN, a Chinese on-chain analysis account, noted.

The move “implies a market preference for Ethereum ecosystem plays over Solana,” Elkaleh explained, adding that it suggests “waning whale confidence,” in the asset, “possibly due to scalability concerns or competition.”

Meanwhile, in Bitcoin markets, a whale that opened a 1,107 BTC short position on October 22 closed it a day later, netting $835,000 profit, according to analytics platform Hyperdash. With the close of this trade, the investor has completed seven trades with a 100% win rate, netting over $6.6 million in profits over the past week.

The closure of the Bitcoin short position comes as the top crypto enters an undervalued zone, Elkaleh said, hinting at a “potential bottom if supported by broader market recovery.”

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Bunni said it will distribute its remaining treasury to BUNNI, LIT, and veBUNNI holders following legal validation.

According to comments from the creator of the stock-to-flow model, the familiar four-year cycle tied to Bitcoin halvings may no longer be a sure guide for traders.

The analyst — known as PlanB — warned that using just three past cycles to predict future tops is risky, and he said the next peak is not guaranteed to fall 18 months after the last halving in October.

Cycle Timing May Vary Widely
PlanB told followers that the top could arrive in 2026, or 2027, or even 2028, and that he is more focused on Bitcoin’s average price level than on a single high or low.

Reports have disclosed that some market participants believe $126,000 was the peak and expect BTC to slide below $100,000 next year. PlanB called that view “a big misunderstanding,” arguing that three cycles do not form a strong statistical pattern.

Bears think $126k was the top, and btc will fall below $100k, and 2026 will be a bear market mainly because … the 4 year cycle!?

IMO that is a BIG misunderstanding. Yes, there is a 4y halving cycle that doubles S2F-ratio, and 6 months before until 18 months after a halving was… pic.twitter.com/tehnZ4rRab

— PlanB (@100trillionUSD) October 20, 2025

Spot Versus Paper Liquidity
According to some experts, the last bull run’s top was driven largely by short-term liquidity in paper derivative markets.

Based on reports, they see less of that paper-driven liquidity this cycle, while longer-term spot buying has held up so far. That shift could mean the next major move in price will come from different places than before.

Trader Sentiment Shifts With Price Moves
Reports show Bitcoin briefly fell below $103,000 last week, sparking worries that a bear market had started. Analysts noted that sentiment changed quickly — traders were hoping for a bounce so they could exit at a decent level.

Recent action has been bouncy. Bitcoin dropped more than 3% over a few hours on Tuesday morning Asian trading, slipping to about $107,000 before finding support near $108,000.

BTCUSD currently trading at $108,038. Chart: TradingView
No Clear Phase Transition Yet
PlanB said he has not seen a clear “phase transition” for Bitcoin in this cycle. That means either the big institutional-driven jump is still ahead, or the market has moved toward a steadier price regime shaped by funds, mandates, and rebalancing.

Both possibilities, he argued, could be positive for Bitcoin over time because they imply different forms of lasting demand.

Short-term volatility has kept traders on edge. Even when price recovers, the mood can flip fast. Based on reports, crypto markets still need stronger fundamentals or sustained flows to calm nerves and push prices higher for a longer stretch.

Featured image from Gemini, chart from TradingView

In Brief

BTC–S&P 500 correlation at 0.26 shows aligned yet independent market behavior.

Q4 earnings beat estimates by 571 bps, signaling sustained bullish market strength.

APAC leads 2025 crypto growth with 69% rise in on-chain activity and transactions.

Bitcoin and U.S. equities continue to move in tandem as both enter the late phase of the bull market. The S&P 500’s 52-week return stands at +13%, reflecting a firm risk-on environment across asset classes. 

Bitcoin maintains a moderately positive correlation of 0.26 with the index, showing it follows equity momentum yet remains partially independent. This pattern supports Bitcoin’s role as a semi-risk asset that offers diversification without losing market alignment.

BTC vs S&P 500: weekly metrics | Source: CryptoQuant
Throughout 2020–2025, the BTC–S&P relationship has strengthened as institutional capital entered both markets. The correlation has stayed steady, indicating that digital assets now behave more like equities during expansion phases. 

Investors continue to allocate capital to both sectors, seeking returns while managing exposure. However, this balance also makes markets sensitive to global economic and policy shifts.

Earnings, Sentiment, and Regional Dynamics
As Q4 2025 begins, investor attention has shifted from yields to corporate earnings strength across key sectors. So far, 58 companies have released Q3 results, all surpassing expectations by an average of 571 basis points. 

2025 Growth Rate and 2024 Growth Rate | Source: Chainalysis
Earnings growth forecasts have risen from 7% to 8%, sustaining optimism and extending risk appetite. Yet analysts caution that such broad outperformance often signals the late stage of a bull cycle when markets grow sensitive to shocks.

Sentiment, however, has turned sharply cautious despite strong earnings momentum. The Fear & Greed Index dropped to 24, showing Extreme Fear compared with 62 just a month ago. This reversal highlights rising investor anxiety as liquidity tightens and macro uncertainty persists. 

At the same time, Binance recorded $5.56 billion in whale inflows over the past 30 days, with daily transfers averaging $1.07 billion. These inflows coincided with Bitcoin’s surge to $113K before a quick retracement to $108K, suggesting intensified trading activity and profit-taking behavior.

BTC Binance Whale to Exchange Flow | Source: CryptoQuant
While global sentiment softens, the Asia-Pacific region continues to lead structural crypto growth in 2025. On-chain activity in APAC climbed 69% year over year, with transaction volume rising from $1.4 trillion to $2.36 trillion. 

Strong participation from India, Vietnam, and Pakistan is fueling this momentum, supported by both institutional investors and retail traders. The region’s rapid expansion underscores Asia’s growing influence in the digital asset economy even as global markets show signs of late-cycle caution.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Bunni DEX shuts down after an $8.4 million exploit, marking the second major crypto project closure this week following Kadena's bankruptcy.

A class action lawsuit claimed that Melania Trump and Argentine President Javier Milei were used as 'window dressing' in the alleged fraud.

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Changpeng Zhao (CZ), founder and former CEO of Binance, has commented on recent news relating to gold proponent Peter Schiff. Schiff announced plans for a tokenized gold product, but CZ does not buy the idea.

CZ reacts to Peter Schiff's gold plansThe tokenized gold product announcement by Schiff represents a notable pivot. For years, he has dismissed Bitcoin (BTC), even recently forecasting an imminent price crash.

However, he is now embracing blockchain for gold tokenization to make it more accessible and transferable.

This disclosure has prompted CZ to respond with a pointed critique. CZ did not attack gold itself; rather, he called out a hype mismatch.

He emphasized that although tokenized gold sounds revolutionary, it is often just a digital claim on vaulted metal, reliant on a central custodian. 

Saying the obvious. Most people “in crypto” know this, most people “not in crypto” may not understand yet.

Tokenizing gold is NOT “on chain” gold.

It’s tokenizing that you trust some third party will give you gold at some later date, even after their management changes, maybe… https://t.co/KMYfz2dG04

— CZ 🔶 BNB (@cz_binance) October 23, 2025 Individuals would not hold the gold "on-chain." Instead, it is akin to a bank promising to return deposits. The challenge is that if the issuer goes bankrupt, gets hacked or changes hands, then the guarantees fail.

Also, while physical gold endures, promises do not always. CZ raised questions about whether the third party will deliver on their promises years later, amid wars and economic chaos.

He therefore dubbed the proposed product a "trust me bro" token. CZ added that this explains why no tokenized gold has taken off.

This is a debate on the promise of blockchain. While Schiff is selling convenience with a gold twist, CZ is reminding everyone that true innovation does not outsource trust.

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Peter Schiff faces more criticismMeanwhile, Schiff faces criticism within the cryptocurrency market after gold prices plunged to record lows on Wednesday, Oct. 22, 2025.

As revealed in a U.Today report, veteran crypto trader Peter Brant took a playful jab at Schiff. Brandt shared a historical gold chart suggesting that the precious metal has put its investors through a tough investment journey.

According to the data, gold has continued to record deep and long-lasting consolidations. This is despite recording an average annual return of 3.6% over the past 45 years.

Surprisingly, Schiff predicted earlier this month that gold could hit $6,000 by Christmas, outshining Bitcoin and the S&P 500.

In contrast to this prediction, gold experienced a downtrend to below $4,100 on Wednesday, which has fueled recent criticism. Bitcoin, on the other hand, is still facing volatility but also showing signs of recovery.

Over the past 24 hours, the BTC price surged slightly by 1.17% to $109,629.

The U.S. government shutdown has now dragged into its fourth week, shaking investor confidence across Wall Street and spilling into the crypto market. As equities fade and Treasury yields retreat, Bitcoin price has entered a tense consolidation near $108K, teetering between macroeconomic anxiety and regulatory uncertainty. The question now is: does this setup mark the bottom before a breakout—or the calm before another leg down?

How Is the Broader Market Setting the Tone for Bitcoin Price Prediction?Stocks have turned defensive. The Nasdaq, Dow, and S&P 500 all finished lower as traders absorbed fresh headlines about export restrictions to China and weak corporate earnings. Gold, after suffering its worst daily loss in a decade, managed only a small rebound. Treasury yields eased to 3.95%, suggesting a mild shift to safety, but not outright panic.

In this environment, Bitcoin’s dip from $112K to around $108K mirrors the broader risk-off sentiment. However, unlike equities, crypto traders are also digesting a political subplot: a heated confrontation in Washington over digital asset regulation.

What’s Going On in Washington and Why It Matters for Bitcoin Price?Crypto executives and U.S. lawmakers met this week in D.C., and it wasn’t pretty. Senate Democrats, frustrated by earlier leaks and perceived lobbying bias, vented at industry leaders in what one senator called a “pissed” meeting. The tension centers around how to regulate decentralized finance (DeFi) and define “control” under the new digital asset bill.

The mood was slightly more relaxed at the Republican meeting, but timing remains critical. With midterms looming in 2026, political gridlock could delay meaningful regulation—keeping uncertainty high for institutional investors.

For BTC price, this tug-of-war is double-edged: clarity could unlock new capital, but prolonged infighting risks another round of policy-driven volatility.

What Does the Chart Say? Is $108K the Line in the Sand?BTC/USD Daily Chart- TradingViewOn the daily chart, BTC price prediction is locked between the middle and lower Bollinger Bands, with the price hovering around $108,600. The Bollinger squeeze is narrowing, which often signals an impending volatility burst.

Key technical observations:

Support: Around $105K–$106K, near the lower Bollinger band.Resistance: $111K–$112K, aligned with the 20-day moving average.Momentum: Heikin Ashi candles show indecision—small-bodied candles with both wicks suggest traders are waiting for a trigger.Trend Bias: Still bearish in the short term, as the price remains below the midline of the Bollinger Band and 50-day SMA (~$114K).If Bitcoin price holds above $107K and reclaims $111K, it could test $115K quickly. But if $105K breaks, the next strong support doesn’t appear until $101K—and below that, the psychological $95K region looms.

Could Regulation or Macroeconomics Trigger the Next Move?Yes—and both could hit simultaneously. The stalled government shutdown raises fears of delayed federal salaries and reduced liquidity. At the same time, any aggressive move by Senate Democrats to tighten DeFi oversight could cool speculative inflows into crypto.

On the flip side, if the market perceives bipartisan progress on a digital asset framework—especially around exchange registration and stablecoin clarity—Bitcoin could catch a relief rally. Add a dovish Fed tone, and the next breakout could be swift.

What’s the Bitcoin Price Prediction for the Coming Weeks?The setup suggests that Bitcoin price is in a coiled phase—momentum is compressing, and volatility is about to expand. The bias remains mildly bearish unless Bitcoin reclaims the 20-day SMA.

Bullish scenario: A close above $112K could open the path to $115K–$118K.Bearish scenario: A breakdown below $105K could drag BTC toward $100K–$95K.Macro triggers like the resolution of the shutdown, regulatory clarity, and next week’s CPI data will likely dictate the direction. Traders should brace for sharp movement within days, not weeks.

$Bitcoin is sitting on the edge of a breakout zone defined by politics, policy, and pressure. The macro winds are shifting, regulation is tightening, and sentiment is cautious—but this kind of compression rarely lasts long. Whether the next major move is up or down depends less on charts and more on whether Washington finds clarity faster than traders lose patience. If $BTC price can weather the noise and hold above $107K, the next stop might not be $95K—but $120K.

In brief
KuCoin is expanding its ecosystem with KuPool, a new mining pool service which provides access to PoW and merge mining assets.
KuPool will open with assets like Dogecoin (DOGE) and Litecoin (LTC), with Bitcoin (BTC) support to follow soon.
The service is designed to cater to mining professionals and newcomers alike, with a focus on simplicity and security.
Crypto exchange KuCoin is rolling out a new mining pool service called KuPool, with support for assets like Dogecoin (DOGE), Litecoin (LTC) and eventually Bitcoin (BTC), the firm announced on Thursday. 

KuPool will align the firm’s existing crypto exchange and its KuMining feature, offering users a secure mining service within the existing KuCoin’s ecosystem. 

“As a new mining pool service under the KuCoin ecosystem, KuPool distinguishes itself from other mining pools through its trust-based verifiable hash rate mechanism and deep integration with KuCoin and KuMining,” a spokesperson for the firm told Decrypt. 

“Specifically, KuPool positions ‘verifiable hash rate’ as the core trust asset, employing an efficient, low-latency, and traceable profit-sharing mechanism to ensure global miners receive fair and auditable reward distributions,” they added. 

Mining pools bring together groups of independent miners, joining resources in order to improve their chances at winning blocks, which yield token rewards. 

KuPool’s mining pool service will open with an emphasis on simplicity and security, granting access to mainstream proof-of-work (PoW) and merged mining assets, like DOGE, LTC, and BELLS while offering an experience that can cater to newcomers and professional miners alike.

Support for Bitcoin, the largest crypto asset by market cap and by far the most prominent proof-of-work token, is expected soon. 

The firm has crated KuPool with trust in mind, the representative told Decrypt, suggesting that it's a differentiator that will set the pool apart from existing options.

“Trust-based mining represents more than mere technological innovation; it is an extension and practical embodiment of its core brand philosophy,” they said.

“In the context of KuPool, trust-based mining manifests as the foundational support for transforming hash rate into credible assets: Miners can verify their contributions and rewards in real time, mitigating information asymmetry, while the platform integrates multi-layered encryption and compliance standards to ensure asset security.”

From a business perspective, the company said that its new service will be deemed a success when it begins to sustain a high hash rate—or computational power—stable yields, and high user retention rates.

More broadly, KuPool’s mission is to “promote a more equitable global hash rate distribution through openness, transparency, and technological innovation.”

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In brief
Decentralized exchange Bunni announced its permanent shutdown Wednesday, saying it lacks the capital for a secure relaunch requiring six to seven figures in audit expenses alone.
The September 2 hack drained $8.4 million through flash loan manipulation and rounding errors, with stolen funds remaining unmoved in Tornado Cash-funded wallets.
Users can still withdraw assets, and Bunni pledged to distribute remaining treasury to token holders while relicensing its v2 contracts from BUSL to MIT.
Decentralized exchange Bunni has announced it is permanently shutting down following an $8.4 million hack last month, with founders saying they lack the capital needed for a secure relaunch that would cost six to seven figures in audit and monitoring expenses alone.

Bunni announced the permanent shutdown on Wednesday, citing insurmountable recovery costs following the attack that exploited the platform's Liquidity Density Function across two pools, weETH/ETH on Unichain and USDC/USDT on Ethereum.

Hello everyone, it is with saddened hearts that we announce the shutdown of Bunni.

The recent exploit has forced Bunni's growth to a halt, and in order to securely relaunch we'd need to pay 6-7 figures in audit & monitoring expenses alone – requiring capital that we simply don't…

— Bunni (@bunni_xyz) October 23, 2025

The attack drained approximately $8.4 million in total from the two pools, according to Bunni's post-mortem report. The stolen funds were bridged to Ethereum following the exploit.

"It'd also take months of development & BD effort just to get Bunni back to where it was before the exploit, which we cannot afford,” the DEX tweeted. “Thus, we have decided it's best to shut down Bunni.”

Users can continue withdrawing funds through the website while the team finalizes the legal process for treasury distribution, excluding its own members from the payout, the statement said.

"This hack shows the industry in no uncertain terms that custom liquidity logic needs exhaustive testing, as flash loans introduce low-risk exploits," Kadan Stadelmann, Chief Technology Officer at Komodo Platform, told Decrypt.

"The exploit consisted of three steps: swap with flashloaned funds, a large number of tiny withdrawals, and then a sandwich attack," the DEX noted in the post-mortem report.

Flash loans enable borrowing large amounts without collateral within a single transaction, while sandwich attacks profit from artificially manipulating prices around target trades.

The attacker first flashborrowed 3M USDT then made multiple swaps from USDT to USDC, and the spot price tick of the pool was pushed to 5000, corresponding to 1 USDC = 1.68 USDT, the report noted.

"The attacker's use of flash loans is notable from an AML lens. Flash loans enable actors to access large amounts of liquidity without collateral and repay within a single transaction," Dmitry Machikhin, CEO of BitOK, told Decrypt.

“Following the hack, it is highly likely the proceeds were layered across multiple chains to distance them from their illicit origin,” he added.

The exchange confirmed it plans to distribute remaining treasury assets to BUNNI, LIT, and veBUNNI holders based on a snapshot, pending legal validation.

"The Bunni v2 smart contracts have been relicensed from BUSL to MIT, enabling everyone to utilize our innovations such as LDFs, surge fees, and autonomous rebalancing," the team noted, adding they hope their technological contributions will benefit the broader DeFi ecosystem.

Bunni noted it's working with law enforcement to recover assets and has sent an on-chain message offering the attacker 10% of the stolen funds if the remainder is returned, an offer that went unanswered.

Bunni's breach adds to 2025's mounting crypto security crisis, with hackers stealing over $2 billion in digital assets this year, according to blockchain analytics firm Elliptic.

North Korea-linked hackers account for the majority of those losses, marking the largest annual total on record.

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Financial writer and known crypto advocate, Robert Kiyosaki is once again urging his followers to invest in Bitcoin (BTC).

In an October 22 post on X, the author of Rich Dad Poor Dad called the asset the world’s “first truly scarce money,” highlighting its limited supply.

He further added that the scarcity will only intensify as the remaining unmined supply dwindles.

“Bitcoin is first truly scarce money… Only 21 million ever to be mined. World close 20 million now. Buying will accelerate. FOMO real. Please do not be late. Take care,” Kiyosaki wrote.

https://twitter.com/theRealKiyosaki/status/1981108559128777173

‘Bitcoin and Ethereum are real money’
Just hours later, Kiyosaki doubled down on his take, distancing himself from “clickbaits” in crypto media and advising investors to value substance over hype.

In a new social media post, the author criticized sensational headlines predicting both Bitcoin’s collapse and potential meteoric rise. 

“I now see “click bait” titles screaming “gold, silver, Bitcoin crashing” or Butcoin to $2 million this month. Then the podcaster then says “To support my channel click and subscribe.” Give me a break,” he added.

https://twitter.com/theRealKiyosaki/status/1981175777648644591

To punctuate his rant, Kiyosaki pointed to the U.S. national debt of $37 trillion as a key indicator of why he believes in hard assets, such as precious metals. However, he also stressed that Bitcoin and Ethereum (ETH) are likewise the “real money” today.

Bitcoin still weak
Clickbait or not, Bitcoin keeps facing weakness this week. It is still down nearly 4% on the monthly and north of 1% on the seven-day chart, trading at $109,665 at the time of writing. 

BTC seven-day price. Source: CoinMarketCap
Daily trading volume has likewise dropped 27.34% to $74.78 billion. However, its market cap seems to be recovering, having gained 1.27% on the day and sitting at $2.18 trillion as per CoinMarketCap.

Investors are now patiently awaiting new Consumer Price Index (CPI) reports scheduled for tomorrow, October 24, which is set to be one of the primary macroeconomic events that could affect the crypto’s price and decide its trajectory during the remainder of the month. 

Disclaimer: The featured image in this article is for illustrative purposes only and may not accurately reflect the true likeness of the individuals depicted.

5 minutes ago

Peter Schiff reiterated that Bitcoin will “go to zero” and warned that the US dollar’s era as the global reserve currency is ending, predicting a return to a gold-based system.

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Binance co-founder and former CEO Changpeng “CZ” Zhao has dismissed crypto critic Peter Schiff’s plan to launch a tokenized gold product, calling it a “trust me bro” asset.

In a Thursday post on X, CZ argued that tokenized gold is not “on-chain gold,” but a promise dependent on third-party custody. “It’s tokenizing that you trust some third party will give you gold at some later date… even after their management changes, maybe decades later, during a war,” he wrote.

CZ’s comments came after Schiff, a long-time Bitcoin (BTC) critic and gold advocate, announced plans on the ThreadGuy podcast to roll out a gold-backed token.

According to Schiff, users will be able to buy and store gold in a vault via an app, transfer ownership through a blockchain, or redeem it for physical gold. He described it as an easier way to spend gold digitally, complete with debit cards linked to gold holdings.

CZ dismisses Schiff’s tokenized gold. Source: CZBitcoin will eventually go to zero: SchiffSchiff also maintained his decades-long stance that Bitcoin (BTC) has no intrinsic value and will eventually “go to zero.” He said Bitcoin is a “gigantic pump-and-dump” driven by early adopters cashing out at the expense of newer investors.

“I still think it’s going to zero,” he said. “What I underestimated was the gullibility of the public and the marketing savvy of those promoting it.”

Schiff also warned of a looming “sovereign debt crisis” that he believes will dwarf 2008, predicting hyperinflation, a collapse in US Treasury bonds and gold prices rising well beyond $4,000 per ounce.

He argued that the US dollar’s dominance as the world’s reserve currency is nearing its end, predicting that the global financial system will “inevitably return to gold.” He said foreign central banks are already divesting from US Treasurys and quietly replacing their reserves with physical gold, marking a “monetary reset” similar to the post-Nixon 1970s.

Gold loses $2.5 trillion in market cap after record surgeEarlier this week, gold saw one of its sharpest crashes in decades, shedding roughly $2.5 trillion in value within 24 hours, according to The Kobeissi Letter. The metal plunged 8% over two days, its worst decline since 2013, wiping out more market value than the entire Bitcoin supply.

The sell-off followed a period of rapid gains this year, when gold surged 60% as investors flocked to it amid inflation fears and global instability.

Magazine: Back to Ethereum — How Synthetix, Ronin and Celo saw the light

Investor attention is increasingly turning to XRP price as it hovers around a critical consolidation zone.

Summary

XRP trades around $2.42, holding steady after a sharp market drop earlier this month.
The 20-day SMA crossing above the 50-day SMA signals a possible bullish reversal, though price remains capped below key resistance at $2.50–$2.70.
Institutional interest and DeFi expansion continue to support sentiment, but traders await confirmation of a breakout before taking new positions.

XRP is trading at $2.42, up 0.62% over the last 24 hours but still down 0.83% for the week, per market data from crypto.news. After the October 10 market crash, the Ripple token lost the strong support level it had maintained since July, flipping the level to resistance. 

On recovering from the crash, XRP (XRP) began consolidating and is now forming a symmetrical triangle pattern on the charts. This consolidation shows the market uncertainty but also hints at a potential breakout that could set the next major trend for the token. ​

Market confidence around XRP is growing as positive developments continue. One of the world’s largest asset managers, T. Rowe Price, recently filed with the SEC to launch a new crypto ETF that includes XRP among other big-cap assets like Bitcoin (BTC) and Ethereum (ETH). The move adds to the institutional buzz around the token, and its inclusion in these products signals rising acceptance, giving it more visibility among retail investors.

Adding to this momentum is XRP’s growing footprint in DeFi. The launch of FXRP on the Flare Network has made Flare the top DeFi platform for XRP. Over $86 million in wrapped XRP has flowed into the system, increasing the token’s utility.

With these trends taking hold, Ripple’s next major move could be imminent and may well be a breakout to the upside. 

XRP price outlook: Bulls eye breakout as momentum builds
XRP’s short-term momentum shows signs of rebuilding after weeks of weakness. The recent price stabilization suggests that buyers are starting to regain some control, as the token tests key levels near $2.40.

XRP price chart | Source: TradingView
On the bullish side, the 20-day simple moving average (SMA) has recently crossed above the 50-day SMA, a signal often seen as the early stage of trend recovery. If XRP price pushes above the $2.45–$2.50 range, it could confirm a breakout toward the next major resistance near $2.70, where its former support flipped after the October selloff.

However, the bearish scenario remains in play as long as the token fails to hold above the short-term averages. A rejection from current levels or a close below $2.30 could trigger another drop toward $2.10, invalidating the bullish structure and signaling a continuation of the broader downtrend.

Momentum indicators are currently neutral, with the Relative Strength Index (RSI) hovering around the midpoint near 49. This suggests the market is in balance, but whichever side gains volume momentum next is likely to dictate the direction XRP price swings.

BNB price confirmed a bearish double top pattern, right before it grabbed headlines with major exchange listings. Will the token continue its ongoing losses, or could the renewed investor buzz from these listings spark a trend reversal?

Summary

BNB price is down over 20% from its all-time high.
Robinhood and Coinbase have listed BNB, and Polymarket has expanded to BNB Chain.
Technical indicators remain largely bearish in the short-term with subtle signs of relief.

According to data from crypto.news, BNB (BNB) has dropped 8% over the past 7 days and 20.7% from its all-time high of $1369.99 reached on Oct. 13. Trading at $1,087 at the time of writing, the token has gained nearly 2% after it secured a listing on multiple high-profile exchanges.

Notably, the U.S.-based popular trading platform Robinhood listed BNB on Wednesday, Oct. 22, giving the token broader exposure to retail investors across the U.S. Just a day later, Coinbase, the largest crypto exchange in the U.S., also added support for BNB.

Listings on top-tier platforms like Robinhood and Coinbase typically tend to spark renewed community interest, elevate a token’s visibility, and boost its perceived credibility. 

At the same time, leading decentralized predictions market Polymarket has expanded to the BNB Chain, and the integration is expected to offer a more cost-effective and efficient experience for users, which can drive increased liquidity for BNB and strengthen BNB Chain’s decentralized finance ecosystem.

Although BNB price may continue to experience price swings in the short term, especially given the broader market’s bearish tone amid ongoing macroeconomic uncertainty, these recent developments have helped create a strong bullish narrative underneath, which could gradually unfold into a sustained recovery once market sentiment improves.

BNB price analysis
For now, the short-term outlook remains tilted towards the bearish side, especially as BNB has confirmed a textbook double top pattern on the 4-hour chart. Traders view this as a bearish reversal pattern, which typically precedes a deeper correction.

BNB price has confirmed a double-top pattern on the 4-hour chart — Oct. 23 | Source: crypto.news
The two peaks formed near the $1,351 mark, each showing strong rejection wicks at the highs that point to buyer exhaustion. The neckline of the pattern sits at $1,087, and as of press time, BNB was trading right at that level, leaving it highly prone to volatility.

As of press time, BNB price was trading at he neckline level, making it highly prone to volatility. 

BNB’s moving averages also add to the bearish bias. The 50-day moving average is closing in on the 200-day, setting up a possible death cross, a signal that in past cycles has marked prolonged declines

However, momentum indicators paint a slightly different picture. The MACD line has crossed above the signal line, hinting at a subtle shift in momentum toward buyers, even though it doesn’t confirm a full reversal. The RSI has also climbed above the neutral 50 threshold, lending some support to the short-term recovery view.

BNB price, MACD, and RSI chart — Oct. 23 | Source: crypto.news
For now, $1,037, which aligns with the 23.6% Fibonacci retracement level, acts as the immediate support level for BNB. A drop below it could lead to a free fall to $824, a target measured by subtracting the height of the double-top formed from the levels at which it confirmed the pattern. As such, the target lies 24% below the current price when writing.

However, if BNB bulls can push the price above $1,111, the 50-day SMA with strong volume, it could invalidate the bearish setup and open the door for a potential move toward $1,150, the next key psychological resistance level on the chart.

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

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Pi community expert Mr Spock has claimed that the Pi Network team is behind the selling pressure on the token. This comes as reports indicate that the team dumped over 1.2 million PI tokens recently.

Expert Claim Pi Core Team Behind Price Pressure
In a recent X post, crypto expert Mr. Spock suggested that the Pi Network core team is the likely source of recent selling pressure. In his post, he alleged that the project’s developers may be liquidating tokens to generate revenue since Pi currently lacks functional products or meaningful utility to sustain financial inflows.

“I’ve said many times that it’s our Core Team selling Pi because they don’t have any other source of income,” Spock wrote, claiming that the team’s only liquidity option has been to sell their own tokens.

This comes after a Pioneer flagged the sale of 1.2 million tokens. They described the event as “awful” and urged the project to focus on real-world utility, on-chain transparency, and decentralization.

Source: X
Other voices within the community supported these claims. A commentator asserted that only the core team holds enough PI volume to drive the token’s price from $3 to $0.20. They also added that no Pioneer has the kind of holdings to cause such a crash. 

Notably, the team has faced similar allegations in the past. Former executive McPhilip accused the Pi team of misusing $20 million in project funds. According to court documents from 2020, Pi’s long-term growth and public credibility have allegedly been hampered by internal conflicts and management rifts.

Despite the criticism, some Pioneers argue that the alleged token sales could be tied to legitimate project expenses. For instance, the testnet is currently being used to test the ongoing Pi Network Protocol 23 upgrade. Experts suggest that the need for additional liquidity may be due to development-related expenses.

Pi Coin Price Slump Persists Despite Progress
Over the past month, Pi coin’s price has fallen nearly 30%, continuing a prolonged downtrend that has erased more than 90% of its value from its peak.

Source: TradingView; Pi Coin Daily Chart
The expert Mr. Spock had described Pi Network as a rug pull project, warning that many Pioneers remain unaware of the scale of the losses and the project’s uncertain direction.

The price struggles come despite recent developments in its ecosystem. For example, the Pi team added a DEX feature and an AMM to its testnet to help developers create new tokens.

Additionally, reports indicate that SPi, a potential stablecoin backed by Pi, is currently being tested on the Testnet. This suggests the possibility of a stablecoin pegged to the USD.

Based on the test, USPI may not be released. But there may be some meaning behind the test. pic.twitter.com/cUgq58syh5

— Pi News (@PiNewsMedia) October 23, 2025

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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Chainlink price consolidates as whales quietly accumulate millions of tokens, indicating that smart money may be positioning for a potential trend reversal.

Summary

Chainlink whales holding 100K–1M LINK have added over 40M tokens in the past year.
Despite a drop in trading volume, on-chain accumulation suggests reduced exchange supply and long-term holding.
Analysts see potential upside toward $25 if ETF approvals and CCIP integrations continue gaining traction.

Chainlink is trading at $17.5 at press time, down 0.2% in the past 24 hours, extending its weekly decline to 2.6% and monthly losses to 18.5%. Over the last seven days, the token has traded within a $15.87–$19.02 range, showing signs of compression after recent volatility.

The 24-hour trading volume for Chainlink (LINK) has dropped to $864.7 million, a 29.7% decline from the previous day. According to CoinGlass data, derivatives trading volume fell 31.8% to $1.69 billion, suggesting fewer speculative trades.

On the other hand, open interest rose 1.17% to $655.1 million, suggesting that traders are holding onto their positions rather than liquidating them. This combination often indicates a build-up before a big move.

Whales keep buying LINK
On-chain data shows that large holders continue to buy despite recent price weakness. On Oct. 23, Santiment reported that wallets holding 100,000–1,000,000 LINK have added 40 million tokens over the past year, a 28% increase across 103 new addresses.

Accumulation has been steady across time frames — 12.9 million added in the last six months, 8.7 million in three months, and 2.8 million in the past month.

https://twitter.com/santimentfeed/status/1981103755811749964?s=46&t=nznXkss3debX8JIhNzHmzw

Lookonchain also flagged fresh whale activity on Oct. 23. One whale withdrew 62,207 LINK from OKX, now holding 1.1 million LINK ($19M) after months of steady accumulation. Another withdrew 66,113 LINK from Kraken, bringing their total to 307,684 LINK ($5.3M). Such purchases during declines can reduce the amount of the token in circulation and usually indicate long-term confidence. 

Chainlink’s next few months could be shaped by key developments. Grayscale and Bitwise’s spot LINK exchange-traded fund filings are awaiting responses. If approved, these could attract institutional demand, which could push LINK closer to $25.

Meanwhile, Chainlink’s cross-chain interoperability protocol keeps expanding. Chainlink’s use case is strengthened by recent integrations like Plasma, a stablecoin-focused blockchain, which has already linked billions of dollars in liquidity from Aave and other decentralized finance platforms.

Chainlink price technical analysis
LINK is trading just above its lower Bollinger Band on the daily chart, indicating that it is getting close to oversold territory. At 41, the relative strength index shows neutral momentum. Limited bullish momentum is indicated by the fact that all short- to mid-term EMAs (10, 20, 30, 50) are below their resistance levels.

Chainlink daily chart. Credit: crypto.news
While oscillators like the commodity channel index and and Williams %R hover close to neutral, the MACD and momentum both display mild sell signals. Resistance is at $19.00, and immediate support is around $15.80.

If whales continue accumulating and LINK breaks above the $19.00 resistance, a shift in sentiment could send prices toward $22–$25. Failure to maintain above $16.00 could expose LINK to a decline toward $14.50, with weak momentum and low volume increasing the risk of a decline before a possible recovery.