Market Signal Briefing

Shares of these retailers have been crushed this year. But there are reasons to be upbeat.

After a rough 2025, two once-popular retailers on Wall Street have fallen out of favor. Lululemon Athletica (LULU 1.76%), the high-end athletic-apparel specialist, recently cut its outlook after weak U.S. demand and higher trade costs pressured profits. Target (TGT 0.80%), one of America's largest general-merchandise retailers, continues to face soft discretionary spending and thinner margins as consumers stay cautious and tariffs similarly weigh on results. As of this writing, both stocks are down more than 40% over the past 12 months.

Image source: Target.

Yet a close look at both companies, some silver linings in their recent reports, and their management teams' plans to combat these slumps show hope for turnarounds. For instance, Lululemon remains a powerful global brand with expanding reach in markets like China, while Target's digital services and advertising unit continue to gain traction. Ultimately, each company is adapting its strategy rather than standing still.

Lululemon: International strength and product innovation
Lululemon's second quarter of fiscal 2025 (the period ending Aug. 3) showed both pressure and resilience. Revenue grew 7% to about $2.5 billion, with comparable sales up 1%. Regionally, Americas revenue inched up 1%, while international rose 22%.

But earnings per share slipped to $3.10 -- down from $3.15 in the year-ago quarter. Additionally, management lowered full-year guidance and noted the need to strengthen U.S. assortments and accelerate product "newness."

Management's response focuses on levers the company controls. Lululemon is refreshing lifestyle categories that lagged, tightening product life cycles, and carefully managing pricing to absorb tariff changes that raised costs. Meanwhile, international expansion continues at a healthy clip, supported by new stores and rising brand awareness, particularly in China.

After a sharp sell-off, Lululemon's valuation no longer assumes perfection. Shares currently trade at just 11 times earnings. If U.S. trends stabilize while international growth holds, earnings power can rebuild from today's base.

Risks, of course, remain. There are elevated trade costs, and it's always possible that the company's product "newness" will flop. But the brand's premium positioning in the market, loyal customer base, and clear plan to reinvigorate its business support a buy-and-hold case from this reset price.

Target: Meaningful sequential improvement
Target, which boasts nearly 2,000 stores, reported disappointing quarterly results. In fiscal Q2 (the period ended Aug. 2), Target's net sales fell 0.9%, and comparable sales declined 1.9%.

Under the surface, however, several key drivers moved in the right direction. First, management said both traffic and sales trends improved "meaningfully" compared to the first quarter of fiscal 2025. Additionally, digital comps rose 4.3% on more than 25% growth in same-day services like Drive Up and Target Circle 360 delivery. Non-merchandise sales (primarily Roundel advertising, its Target Plus membership, and marketplace revenue) grew 14.2%, adding high-margin dollars.

Looking ahead, management maintained full-year guidance for a low-single-digit sales decline and earnings per share between $8.00 and $10.00. Showing how cheap the stock is, the midpoint of this guidance range gives Target a forward price-to-earnings multiple of just 10.

So, despite some serious challenges for Target, there is a lot to like. Same-day fulfillment deepens loyalty and could help bolster revenue growth. Rapid growth in advertising and subscriptions expands Target's gross margin without inventory risk. And operating margin, at 5.2% in the quarter, still trails pre-2022 levels (it exceeded 8% in 2021). That gap represents an opportunity if Target can turn its business around.

The stock's cheap valuation helps the case. After a large drawdown, the stock's price-to-earnings ratio is only about 10.5 as of this writing, leaving room for multiple expansion if traffic stabilizes and margins recover. It's also worth mentioning that the stock has an impressive 5% dividend yield.

Sure, competition across retail, tariffs, and lingering discretionary softness remain key risks, but these concerns are arguably priced in.

Both Target and Lululemon have stumbled. But each is adjusting -- and both have parts of their business that are doing great. Lululemon's faster product cadence and strong international growth are clear reasons to consider buying the stock. Meanwhile, Target's dirt cheap valuation and double-digit growth in high-margin businesses help offset concerns about a weak consumer and tariff pressures. With valuations reset, both stocks look attractive for investors willing to hold for the long haul.

Daniel Sparks and his clients have no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Lululemon Athletica Inc. and Target. The Motley Fool has a disclosure policy.

NEW YORK, Oct. 18, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of common stock of Baxter International Inc. (NYSE: BAX) between February 23, 2022 and July 30, 2025, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 15, 2025.

SO WHAT: If you purchased Baxter common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Baxter class action, go to https://rosenlegal.com/submit-form/?case_id=17664 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 15, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants misled investors by failing to disclose that: (1) the Novum LVP suffered systemic defects that caused widespread malfunctions, including underinfusion, overinfusion, and complete non-delivery of fluids, which exposed patients to risks of serious injury or death; (2) Baxter was notified of multiple device malfunctions, injuries, and deaths from these defects; (3) Baxter’s attempts to address these defects through customer alerts were inadequate remedial measures, when design flaws persisted and continued to cause serious harm to patients; (4) as a result, there was a heightened risk that customers would be instructed to take existing Novum LVPs out of service and that Baxter would completely pause all new sales of these pumps; and (5) based on the foregoing, Baxter’s statements about the safety, efficacy, product rollout, customer feedback and sales prospects of the Novum LVPs were materially false and misleading. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Baxter class action, go to https://rosenlegal.com/submit-form/?case_id=17664 call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

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-------------------------------

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

Invitation Homes is a compelling investment opportunity these days.

The stock market has been in rally mode in the second half of this year. The S&P 500 is up by almost 14% over the last 12 months and seems to be hitting new all-time highs almost every day. That rally has driven the index's average dividend yield down to 1.2%, near its record low. As a result, there are fewer stocks trading at bargain levels and fewer higher-yielding dividend stocks.

However, the market isn't without some compelling value-driven income opportunities. Shares of Invitation Homes (INVH 0.23%) are down more than 16% over the past year and about 20% from their 52-week high. That slump has helped drive the yield of the real estate investment trust (REIT) up to 4.1%. That combination of value and yield was too compelling to resist, especially given its healthy growth profile. That's why I recently bought more shares of this high-quality residential REIT.

Resilient rental income
Invitation Homes is a leading owner and manager of single-family rental properties. It owns interests in nearly 93,000 homes and manages over 17,000 additional properties for other investors. It focuses on 16 core housing markets, predominantly in the Sun Belt and on the West Coast, benefiting from those regions' above-average population and job growth.

Consistent demand for housing has allowed the company's rental property portfolio to generate resilient and steadily rising rental income. Its focus on high-demand properties (single-family homes) in strong housing markets has driven above-average same-store net operating income growth. Since its initial public offering in 2017, Invitation Homes has delivered more than 60% net operating income growth, nearly double the national average for multifamily properties during that period (36.7%).

Invitation Homes' portfolio maintains strong occupancy rates (over 97% this year). Meanwhile, it has raised its rents at a healthy rate (over 4% blended lease rate growth in the second quarter). This provides the REIT with durable cash flow to pay dividends. It will distribute around 72% of its adjusted funds from operations (FFO) this year as dividends, which is a conservative ratio. That provides it with a nice cushion, allowing it to retain cash to invest in new income-generating rental properties.

Multiple avenues to continue growing
Rent growth is only one of Invitation Homes' many growth drivers. The REIT also routinely buys houses (either outright or with joint-venture partners) to expand its rental property portfolio. It currently expects to spend around $750 million on acquiring properties this year. It purchases those properties on the open market, from other real estate investors, and directly from homebuilders. It has partnerships with several leading homebuilders to buy over 1,800 purpose-built rental properties over the next several quarters.

The company also has plenty of room to expand its third-party management business, which it launched last year. This platform enables it to leverage its in-house management capabilities to earn incremental income by providing those services to other investors. This platform could also provide the REIT with opportunities to acquire properties it manages when its clients are ready to sell.

A new growth avenue is Invitation Homes' developer lending program, which it launched this year. In its first deal, the REIT provided a builder with a $32.7 million loan to support the development of a 156-home community in Texas. The company has the option to acquire the community once it has stabilized. This platform can generate incremental interest income and new investment opportunities.

The REIT's growing portfolio and rental income should enable it to continue increasing its dividend. Invitation Homes has raised its payout every year since its initial public offering in 2017, including a 3.6% hike late last year.

A great value proposition
Shares of Invitation Homes have slumped over the past year despite the market's surge. A silver lining of that sell-off is that the REIT's dividend yield has risen above 4%. That's an appealing level for a company with an excellent growth track record. With more growth ahead, I couldn't resist the opportunity to scoop up more shares of this top-notch dividend stock while it's on sale.

Matt DiLallo has positions in Invitation Homes. The Motley Fool has positions in and recommends Invitation Homes. The Motley Fool has a disclosure policy.

Inclusion on a top equities index and other positive developments considerably raised the company's profile -- and its popularity.

Robinhood Markets (HOOD -1.19%) had a scorching hot September, with its stock rising 38% from beginning to end and trouncing the 3.5% rise of the S&P 500 index. We shouldn't find this too surprising, however, as the next-generation brokerage and fintech has had several strong months since the start of the year. Overall, its share price is up by a blistering 263% year to date (as of this writing).

It's been a popular stock for some time, thanks to its restless search for new revenue streams and innovative ways of thinking about its business. Here's why it did particularly well last month.

Say hello to one of the new S&P 500 index stocks
At the end of the first week of September, the first catalyst occurred to spark the Robinhood rally. S&P Dow Jones Indices, as part of its quarterly index rebalancing, tapped the company's stock to be a component of the S&P 500 index. It displaced casino operator Caesars Entertainment in the move, which became effective Sept. 22.

Inclusion in a well-known stock index -- particularly the S&P 500, which is considered by many to be the benchmark index for equities -- barely affects a company's fundamentals, if at all. However, it raises its profile considerably, and makes it a prime target for the many index funds that comb through top indexes for their investments. This alone provided a nice lift to Robinhood's shares.

Just after S&P Global's announcement, Robinhood posted its usual monthly operational update. Several of the numbers were extremely encouraging -- although there was one fewer trading day in August 2025 compared to the same month last year, many metrics were up sharply.

Equity trading, for one, doubled and then some over that stretch to $199 billion. The action in cryptocurrencies heated up more, although that business is still developing. Its trading volume was just under $14 billion, for a robust 154% year-over-year gain. And this occurred on a 10% rise in the tally of funded customers, which reached 26.7 million.

In other words, Robinhood's client base is growing, and as a group it's spending considerably more on trades.

Innovation drives attraction
Analysts tracking Robinhood stock took notice of these developments, and made bullish adjustments to their takes on the company. This also helped support the positive sentiment displayed by market players.

A typical update was the one from Bank of America Securities' Craig Siegenthaler. In a research note published mid-month, the pundit raised his price target to $139 per share from $119. He also reiterated his buy recommendation on the shares.

Siegenthaler based his revision on a series of presentations the company made at its annual Active Trader Summit in Las Vegas, according to reports. He was clearly impressed by the company's numerous planned product launches, which among others include a social media function (Robinhood Social, naturally) and extended index options trading.

Siegenthaler captured an important essence of Robinhood's success in September -- management's clear hunger for innovation. Over the course of the month, new features were announced, and speculation arose about more.

One in particular that has a shot at becoming a wide revenue stream is short-selling, which the company announced at the summit. At a stroke, introducing this will provide customers access to a classic trading method, giving market bears and hedgers a chance to run free.

Later in the month Bloomberg reported that the brokerage might grant access to prediction markets to its clients located overseas. Robinhood partners with a pair of prediction market specialists, Kalshi and ForecastEx, both of which have done well lately on the back of an increasing appetite for wagering in this country.

Entertaining but expensive
Robinhood is an exciting and dynamic company that's fun to watch. Is it potentially lucrative to own, though?

After all, on valuations it looks super expensive. Its forward P/E is vertigo-inducing at nearly 71, and its price-to-book value is also lofty at more than 16.

Meanwhile SoFi Technologies, a next-generation fintech that isn't directly comparable but bears some similarities, has a forward P/E of 47 and a price/book well under 5. The more traditional and longer established brokerage Charles Schwab's figures for the two ratios are a respective 17 and just under 4.

But of those three companies (and other financial services titles, while we're at it), Robinhood is the one that seems to have its finger more firmly on the pulse of what modern investors want in their brokerage. Many of its offerings have clearly struck a chord with the market, which is likely one reason why more are signing up to trade with the company.

This stock is a bit risky given those high-wire valuations, but I'd say it still has plenty of upside. I'd be a buyer.

Charles Schwab is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. Eric Volkman has positions in Charles Schwab. The Motley Fool recommends Charles Schwab and recommends the following options: short December 2025 $95 calls on Charles Schwab. The Motley Fool has a disclosure policy.

Kura Oncology, Inc. (NASDAQ:KURA ) Discusses Clinical Updates on Farnesyl Transferase Inhibitor Programs and Combination Therapies in Oncology October 18, 2025 1:30 PM EDT Company Participants Troy Wilson - Chairman, CEO & President Mollie Leoni - Chief Medical Officer Conference Call Participants Glenn J. Hanna Jonathan Chang - Leerink Partners LLC, Research Division Peter Green Reni Benjamin - Citizens JMP Securities, LLC, Research Division Li Wang Watsek - Cantor Fitzgerald & Co., Research Division Philip Nadeau - TD Cowen, Research Division Jason Zemansky - BofA Securities, Research Division Jiale Song - Jefferies LLC, Research Division Peter Lawson - Barclays Bank PLC, Research Division Presentation Operator Good day, and thank you for standing by.

NEW YORK, Oct. 18, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Tronox Holdings plc (NYSE: TROX) between February 12, 2025 and July 30, 2025, both dates inclusive (the “Class Period”), of the important November 3, 2025 lead plaintiff deadline.

SO WHAT: If you purchased Tronox common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Tronox class action, go to https://rosenlegal.com/submit-form/?case_id=44403 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 3, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made statements regarding Tronox’s overall expected growth and strength in its pigment and zircon commercial division. The lawsuit alleges that defendants made overwhelmingly positive statements to investors regarding these divisions, as well as on its ability to achieve 2025 revenue growth projections, to investors while at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Tronox’s ability to forecast the demand for its pigment and zircon products or otherwise the true state of its commercial division, despite making lofty long-term projections, Tronox’s forecasting processes fell short as sales continued to decline and costs increased, ultimately, derailing Tronox’s revenue projections. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Tronox class action, go to https://rosenlegal.com/submit-form/?case_id=44403 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

QUEENSBURY, N.Y.--(BUSINESS WIRE)--Delcath Systems, Inc. (NASDAQ: DCTH), an interventional oncology company focused on the treatment of primary and metastatic liver cancers, today announced the results of the CHOPIN randomized Phase 2 clinical trial (CHOPIN Trial) presented by Principal Investigator and Lead Author Professor Ellen Kapiteijn, MD, from Leiden University Medical Center’s Department of Medical Oncology at the 2025 European Society of Medical Oncology (ESMO) Annual Congress.

CHOPIN Trial Design

The investigator-initiated, prospective, randomized Phase 2 CHOPIN Trial was designed to compare the safety, tolerability, and efficacy of Delcath’s CHEMOSAT® Hepatic Delivery System (HDS) with melphalan for percutaneous hepatic perfusion (PHP) when used alone versus when combined with the systemic immune checkpoint inhibitors (ICI) ipilimumab and nivolumab. Patients with metastatic uveal melanoma (mUM) were randomized 1:1 to receive PHP alone or in combination with ipilimumab and nivolumab. CHEMOSAT is the device component of the U.S. Food and Drug Administration (FDA) approved combination drug and device product HEPZATO KIT™ (HEPZATO (melphalan) for Injection/Hepatic Delivery System). HEPZATO KIT is approved for the liver-directed treatment of adult patients with uveal melanoma with unresectable hepatic metastases with less than 50% liver involvement and is administered every six to eight weeks for up to six melphalan/HDS treatments.

Ipilimumab and nivolumab are approved by the FDA and European Union for the treatment of unresectable metastatic melanoma, typically administered intravenously every three weeks for four doses, followed by maintenance nivolumab monotherapy every two to four weeks until disease progression.

The CHOPIN Trial randomized 76 patients 1:1 to receive PHP alone at weeks one and seven (PHP group) or four cycles of ipilimumab (1 mg/kg) and nivolumab (3 mg/kg) every three weeks over approximately nine weeks with two PHP treatments at weeks one and seven (combination group). The CHOPIN Trial design did not include additional PHP treatments beyond two treatments or nivolumab maintenance monotherapy. Once the nine-week treatment period was completed patients were monitored until progression. Key eligibility criteria included unresectable hepatic metastases with 50% or less unresectable disease and limited extrahepatic disease. The primary endpoint was one-year progression-free survival; secondary endpoints included safety, best overall response rate, overall survival, and hepatic progression-free survival.

CHOPIN Trial Results

Key Results from the CHOPIN Phase 2 Trial:

Progression-Free Survival (95% CI):

One Year % (95% CI)

Combination group: 54.7% (36.8 - 69.5)

PHP group: 15.8% (5.8 - 30.1)

Median months (95% CI)

Combination group: 12.8 (9.2 - 15.4)

PHP group: 8.3 (6.0 - 9.6)

Hazard Ratio 0.34 (0.19 - 0.60)

P<0.001

Overall Survival - (95% CI):

One Year % (95% CI)

Combination group: 82.8% (65.6 - 91.9)

PHP group: 82.2% (64.5 - 91.6)

Two Year % (95% CI)

Combination group: 49.6% (29.3 - 67.0)

PHP group: 22.1% (7.9 - 40.6)

Median: months (95% CI)

Combination group: 23.1 (20.2 - 38.5)

PHP group: 19.6 (15.2 - 21.8)

Hazard Ratio: 0.39 (0.20 - 0.77)

P = 0.006

Best Overall Response Rate (95% CI):

Combination group: 76.3 (59.4 - 88.0)

PHP group: 39.5 (24.5 - 56.5)

P < 0.001

Grade 3 or higher treatment-related adverse events were more frequent in the combination group (81.6% vs. 40.5%, P<0.001), but most were manageable with standard care. Overall, the combination treatment was well tolerated, with types, rates and frequencies of adverse events consistent with individual use of PHP and checkpoint inhibitors. No new safety signals were identified.

The abstract is available at ESMO Congress 2025 - Mini Oral Session LBA59.

“The CHOPIN trial clearly demonstrates that adding ipilimumab and nivolumab to PHP is both effective and tolerable. The efficacy results are impressive, especially when considering the treatment regime included only two PHP treatments and did not include nivolumab maintenance. Since many oncologists start systemic therapy first, this approach provides valuable lead time for patient assessment and scheduling PHP, helping to overcome logistical barriers and support broader adoption and near- to medium-term uptake,” said Gerard Michel, Chief Executive Officer of Delcath Systems.

A number of large, randomized clinical trials shows that patients with liver metastases typically have poorer outcomes than those with metastases elsewhere when treated with ICIs across multiple tumor types, including melanoma, non-small-cell lung cancer (NSCLC), urothelial carcinoma, and renal cell carcinoma1, 2. This diminished efficacy of ICIs has been attributed to the well-documented immunosuppressive nature of the liver microenvironment, with underlying mechanisms increasingly understood through preclinical and clinical research3.

“In addition to the potential immediate benefit to patients with metastatic uveal melanoma, the possible synergy of PHP and ICI therapy seen in the successful Phase 2 CHOPIN trial may be transferable to other cancers with liver-dominant disease, and Delcath looks forward to investigating that potential,” said Dr. Vojislav Vukovic, Chief Medical Officer of Delcath Systems.

Conference Call Information

Delcath Systems, Inc. will host a conference call and webcast on October 20, 2025, at 8:45 a.m. Eastern Time to discuss the Phase 2 CHOPIN Trial results and provide a brief overview of the financial results and guidance announced in this release. Joining Delcath management on the call with pre-recorded remarks will be Dr. Vincent T. Ma, Assistant Professor and Medical Oncologist at the University of Wisconsin Department of Medicine, a current user of HEPZATO KIT for the treatment of metastatic uveal melanoma patients, an expert in treating cutaneous melanoma, and a co-author on the seminal Nature Medicine paper exploring liver immune tolerance mechanisms in cancer.

To participate in this event, dial in approximately 5 to 10 minutes before the beginning of the call.

A replay of the webinar will be available shortly after the conclusion of the call and will be archived on the company's website https://investors.delcath.com/news-events/events-and-presentations.

About Delcath Systems, Inc., HEPZATO KIT, and CHEMOSAT

Delcath Systems, Inc. is an interventional oncology company focused on the treatment of primary and metastatic liver cancers. The company’s proprietary products, HEPZATO KIT (HEPZATO (melphalan) for Injection/Hepatic Delivery System) and CHEMOSAT Hepatic Delivery System (HDS) for Melphalan percutaneous hepatic perfusion (PHP), are designed to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects during a PHP procedure.

In the United States, HEPZATO KIT is considered a combination drug and device product and is regulated and approved for sale as a drug by the FDA. HEPZATO KIT is comprised of the chemotherapeutic drug melphalan and Delcath’s proprietary HDS. The HDS is used to isolate the hepatic venous blood from the systemic circulation while simultaneously filtrating hepatic venous blood during melphalan infusion and washout. The use of the HDS results in loco-regional delivery of a relatively high melphalan dose, which can potentially induce a clinically meaningful tumor response with minimal hepatotoxicity and reduce systemic exposure. HEPZATO KIT is approved in the United States as a liver-directed treatment for adult patients with metastatic uveal melanoma (mUM) with unresectable hepatic metastases affecting less than 50% of the liver and no extrahepatic disease, or extrahepatic disease limited to the bone, lymph nodes, subcutaneous tissues, or lung that is amenable to resection or radiation. Please see the full Prescribing Information, including BOXED WARNING for the HEPZATO KIT.

In Europe, the device-only configuration of the HDS is regulated as a Class III medical device and is approved for sale under the trade name CHEMOSAT Hepatic Delivery System for Melphalan, or CHEMOSAT, where it has been used in the conduct of percutaneous hepatic perfusion procedures at major medical centers to treat a wide range of cancers of the liver.

Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by Delcath or on its behalf. This press release contains forward-looking statements, including statements regarding the possible synergy seen in the successful Phase 2 CHOPIN Trial being transferable to other cancers with liver-dominant disease; statements regarding the potential of CHEMOSAT Hepatic Delivery System and HEPZATO KIT to improve outcomes for patients with metastatic uveal melanoma and other cancers with liver-dominant disease; statements regarding the potential to drive increased adoption of HEPZATO KIT; statements regarding Delcath’s commitment to raising awareness of the innovative approach taken in the CHOPIN Trial, and accelerating the referral of patients to treatment sites; and statements regarding Delcath’s continued growth and leadership in liver-directed oncology, which are subject to certain risks and uncertainties, that can cause actual results to differ materially from those described. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Factors that may cause such differences include, but are not limited to, uncertainties relating to: the Company’s commercialization plans and its ability to successfully commercialize the HEPZATO KIT; contributions to adjusted EBITDA; the Company’s successful management of the HEPZATO KIT supply chain, including securing adequate supply of critical components necessary to manufacture and assemble the HEPZATO KIT; successful FDA inspections of the facilities of the Company and those of its third-party suppliers/manufacturers; the Company’s successful implementation and management of the HEPZATO KIT Risk Evaluation and Mitigation Strategy; the potential benefits of the HEPZATO KIT as a treatment for patients with primary and metastatic disease in the liver; the Company’s ability to obtain reimbursement for the HEPZATO KIT; and the Company’s ability to successfully enter into any necessary purchase and sale agreements with users of the HEPZATO KIT. For additional information about these factors, and others that may impact the Company, please see the Company’s filings with the Securities and Exchange Commission, including those on Forms 10-K, 10-Q, and 8-K. However, new risk factors and uncertainties may emerge from time to time, and it is not possible to predict all risk factors and uncertainties. Accordingly, you should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. We undertake no obligation to publicly update or revise these forward-looking statements to reflect events or circumstances after the date they are made.

This release contains forward-looking statements, including statements regarding the expected release of clinical trial results, which are subject to risks and uncertainties. Factors that could affect these forward-looking statements include, but are not limited to, delays in the presentation of the data, or other unforeseen issues relating to the release of the clinical trial results. For a detailed discussion of these and other risks, please refer to Delcath’s filings with the SEC.

Citations for footnotes:

Yu, J. et al. Liver metastasis restrains immunotherapy efficacy via macrophage-mediated T cell elimination. Nat Med 27, 152–164 (2021)

Wang, F. et al. Pan-Cancer Analysis Identifies Liver Metastases as Negative Predictive Biomarker for Immune Checkpoint Inhibitors Treatment Outcome. Front Oncol 11:691853 (2021). doi:10.3389/fonc.2021.691853

Li, L. et al. Liver metastases and the efficacy of immune checkpoint inhibitors in patients with advanced lung cancer: A retrospective study. Front Oncol 12:978069 (2022). doi:10.3389/fonc.2022.978069

More News From Delcath Systems, Inc.

Formula One F1 - United States Grand Prix - Circuit of the Americas, Austin, Texas, U.S. - October 23, 2022 Tim Cook waves the chequered flag to the race winner Red Bull's Max Verstappen REUTERS/Mike Segar/File Photo Purchase Licensing Rights, opens new tab

SummaryCompaniesApple's F1 interest dates back almost a decadeEcclestone ally reveals talks already in 2016Cue says he had long thought about a dealAUSTIN, Texas, Oct 18 (Reuters) - When Bernie Ecclestone was asked about a group of guests receiving VIP treatment at a Formula One

(FWONA.O), opens new tab race nine years ago, the commercial supremo said they were representatives of "a fruit company".

The explanation reflected his particular sense of humour, and secretive way of working, rather than any disparagement of Apple Inc

(AAPL.O), opens new tab .

Sign up here.

Friday's announcement of Apple's five-year deal for Formula One's U.S. broadcast rights, replacing Walt Disney's ESPN, was seen as a logical follow-on from the box office success of Apple's F1 movie, starring Brad Pitt.

The California-based company's interest in the sport, at a senior level, goes back much further than the last couple of years however.

THINKING ABOUT THIS FOR A LONG TIMEEddy Cue, senior vice president of services with 36 years at Apple, is a long-time board member of Ferrari

(RACE.MI), opens new tab -- where Stefano Domenicali, now chief executive of Liberty Media-owned Formula One, was team boss from 2008-14 -- and a lifelong F1 fan.

"I already knew Stefano very well... but knowing and having our team and their team working that closely together for a long period of time (with the movie) I think gave both sides confidence of the kinds of things that we could do together," he told reporters after the deal was announced.

"But yes, I've personally thought about this for a long time."

Tommy Baker, a friend and associate of Ecclestone since the 1981 Long Beach Grand Prix, told Reuters he had a meeting in London in August 2016 with Cue and the now 94-year-old.

The American said they discussed a 12-part 'From The Grid' show Baker had pitched after a failed previous attempt to produce an F1 lifestyle series in the 1990s, with Ecclestone supportive.

"Apple was ready to go with it in 2017... they were going to buy the NBC rights for the Formula One broadcast in the States and have this as a tag-on show for a few years as they built towards their streaming," he told Reuters.

NBC held the U.S. rights from 2013 to 2017, before ESPN took over.

"That show was way in advance of 'Drive to Survive'," added Baker, referring to the Netflix docu-series credited with turbo-charging Formula One's popularity with a new and younger audience.

"At the (October 2016) Mexico Grand Prix... we had a bunch of people from Apple touring the event for production. They wanted to, one month later, film a pilot (for the series) in Abu Dhabi that they then wanted to air."

Baker said they were guests of Red Bull but with access to Ecclestone's office.

Chase Carey, who would become Ecclestone's replacement after Liberty's takeover announced in September 2016, was also in attendance and asked the Briton who the six individuals were.

"Bernie goes 'Oh, they're a fruit company'," recalled Baker. "He didn't want them immediately exposed to Chase and everyone getting confused."

Ecclestone was shunted aside in January 2017 and the proposed series was never made.

A well-informed Formula One source told Reuters "there was no near deal".

Ecclestone, contacted at his home in Switzerland, told Reuters he had known Baker 'forever' and had no problem with him talking about the episode.

"He was the one that got involved with Apple and got me involved in as far as what I could do to help them," said the Briton, who later introduced Apple to former Liberty Media chief executive Greg Maffei.

Reporting by Alan Baldwin
Editing by Toby Davis

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Although Tesla (NASDAQ: TSLA) stock has been on a bullish run in recent weeks, historical data suggests that the electric vehicle manufacturer is about to enter its most profitable phase.

Notably, TSLA shares have been surging toward the $500 mark. At the end of Friday’s session, Tesla was valued at $439, having gained nearly 100% over the past six months.

TSLA six-month stock price chart. Source: Finbold
Historically, November has been Tesla’s most favorable month, with a win rate of 73%, the highest probability of gains since its IPO, according to insights from charting platform TrendSpider. 

TSLA seasonality chart. Source: TrendSpider
Over the years, the company has posted an average return of 11.68% during November, reinforcing its reputation for strong performance during this period.

Seasonality data over the past 15 years shows that the EV maker tends to perform well in the final quarter of the year. After a modest dip in October, with an average return of around 3%, the stock typically rallies through November and December.

Tesla stock fundamentals 
Indeed, several factors could drive Tesla’s bullish phase as 2025 draws to a close. Continuous advancements in electric vehicle technology, production expansion, and potential new product launches keep the company well-positioned within the tech and automotive sectors.

Ahead of November, Tesla’s stock has been gaining momentum, fueled by Elon Musk’s $1 billion share purchase, which strengthened investor confidence in the company’s long-term growth, particularly in AI and autonomous driving. 

Meanwhile, the Shanghai Gigafactory ramped up production, leading to a 2.8% rise in China-made EV sales after two months of declines. 

Further progress in Full Self-Driving (FSD) technology and plans for robotaxis and humanoid robots have also bolstered Tesla’s bullish outlook.

Featured image via Shutterstock

SummaryBWX Technologies maintains a near-monopoly on U.S. naval nuclear reactors and fuel, anchoring steady revenue growth backed by multi-year government contracts and a record $6 B backlog (+70% YoY).Commercial expansion in medical isotopes, HALEU enrichment, and SMR components adds secular growth alongside its defense core, positioning BWXT as a diversified nuclear leader.A conservative DCF supports long-term intrinsic value, while strong execution, government visibility, and multiple growth catalysts justify a continued Buy rating on the stock. shaunl/E+ via Getty Images

Summary BWX Technologies, Inc. (NYSE: NYSE:BWXT) is a diversified nuclear technology leader at the unique epicenter of defense, energy, and medical industries. BWX has a core business segment as the sole provider of nuclear

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.

The views expressed are my own, written in a personal capacity, and do not represent my employer. This article is for informational purposes only and is not investment advice nor a solicitation of any kind. No MNPI was used in the creation of 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.

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During the second quarter, Steven Cohen's hedge fund completely exited its position in SoundHound AI in favor of the biggest name in the market.

Steven A. Cohen is one of the most fascinating money managers of the modern era. As the billionaire founder of Point72 Asset Management and owner of the New York Mets, Cohen has long been a larger-than-life personality on Wall Street. He even served as the inspiration for fictional hedge fund titan Bobby Axelrod from Showtime's television series, Billions.

Unlike many of his high-profile peers, Cohen rarely seeks the spotlight. He seldom grants interviews or discusses his firm's inner workings. Yet, through Point72's quarterly 13F filings, everyday investors can still catch a glimpse of where one of the sharpest minds in finance is putting his capital.

In its most recent filing, Point72 revealed two striking moves: The fund completely exited its position in SoundHound AI (SOUN -8.45%) during the second quarter while simultaneously doubling down on semiconductor powerhouse Nvidia (NVDA 0.86%).

Image source: Getty Images.

Let's explore what might have driven these bold shifts -- and whether investors should consider following Cohen's lead.

Why Point72 dumped SoundHound AI stock
At first glance, SoundHound AI might appear to be a natural fit for a hedge fund chasing the artificial intelligence (AI) revolution. The company focuses on voice-recognition and conversational AI, operating at the crossroads of automotive interfaces, consumer services platforms, and Internet of Things (IoT) devices.

However, this once-promising niche is now dominated by big tech. Apple's ecosystem revolves around Siri, Amazon's smart devices are powered by Alexa, and both Alphabet and Microsoft continue to expand their own voice-enabled applications. Against this backdrop, smaller players like SoundHound face a steep uphill battle to compete on distribution and integration.

From an investment standpoint, Point72's exit likely reflects SoundHound's limited market position. While the company has developed impressive technology and is demonstrating an ability to expand its footprint through a growing list of strategic partnerships, it remains unprofitable, calling into question how the business will fund its growth.

Data by YCharts.

In a hypercompetitive industry where customer acquisition costs are high and moats are thin, Cohen may be reallocating capital toward opportunities with stronger balance sheets and more durable positioning. Moreover, SoundHound AI stock has been a roller coaster over the last few years. Shares have often traded more on hype and headlines than on fundamentals or clear visibility into future earnings.

Ultimately, Point72 may have viewed SoundHound AI as short-term momentum trade before rotating any gains into companies with deeper competitive advantages and more predictable long-term growth trajectories.

Why Steven Cohen is piling into Nvidia right now
In contrast to SoundHound's uncertain path, Nvidia's trajectory looks nearly unstoppable. The semiconductor giant has become the foundation of the global AI boom, supplying the GPUs that power everything from large language models (LLMs) to autonomous vehicles, robotics, and next-generation data centers.

During the second quarter, Point72 increased its Nvidia position by 207% -- purchasing roughly 4.3 million shares. The firm also maintains a modest mix of call and put options -- a common practice among sophisticated funds seeking to optimize risk-adjusted returns.

In my view, Cohen's decision to increase exposure to Nvidia rests on several key factors.

AI infrastructure is the new goldrush
Cloud hyperscalers such as Microsoft Azure, Google Cloud Platform, Amazon Web Services (AWS), and Oracle are expected to pour nearly $500 billion into capital expenditures (capex) next year. In parallel, the U.S. government's Stargate Project aims to commit an additional half-trillion dollars to AI infrastructure as the technology becomes a strategic national priority. Over the long run, analysts estimate that total data center investments could approach $7 trillion by 2030 -- a wave of spending that positions Nvidia as an indispensable supplier at the heart of this transformation.

Stock-split accessibility
After completing a stock split last June, Nvidia's shares have climbed by roughly 50%. The split appears to have reignited buying enthusiasm and liquidity, helping fuel the company's multiyear rally.

Long-term margin expansion
Nvidia's upcoming chip architectures -- Blackwell Ultra and Rubin -- will pair with its CUDA software ecosystem to create a formidable competitive moat that extends far beyond silicon. This combination of hardware innovation and recurring software revenue gives Nvidia a rare dual advantage -- one that Cohen's portfolio managers likely see as the blueprint for sustained revenue growth and profit margin expansion at scale.

The bigger picture: A shift from speculation to scale
In essence, Cohen's Nvidia bet could mark a strategic rotation from speculation to substance -- a move away from chasing hype to owning the shovel factory in a gold rush. Rather than gambling on niche players hoping to find sustained footing, Cohen may be opting for the underlying infrastructure powering the entire AI ecosystem.

For investors, this decision carries an important takeaway: In today's bull market, scale, ecosystem dominance, and execution discipline matter far more than novelty. Hedge funds like Point72 are positioning accordingly, redeploying capital from the experimental corners of AI into the core pillars that will support its growth for the next decade.

Adam Spatacco has positions in Alphabet, Amazon, Apple, Microsoft, and Nvidia. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Microsoft, Nvidia, and Oracle. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

Bitcoin (BTC) continues to test investor conviction as its price hovers around $108,000, following a steep decline from recent highs near $125,000. What's catching traders' attention isn't just the correction—it's the dramatic sentiment shift across prediction markets.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Famous technical analyst John Bollinger have found possible W bottoms in Ethereum (ETH) and Solana (SOL) charts. These are patterns often seen before bullish reversals. However, Bollinger, famous for creating the Bollinger Bands indicator noted that Bitcoin (BTC) is yet to display a similar setup.

Bollinger Highlights Key Divergence Between Bitcoin and Altcoin Setups
In a post on X, Bollinger said both ETH/USD and SOL/USD show possible “W” bottoms in Bollinger Band terms, while BTC/USD does not. He hinted that it might soon be time to “pay attention,” as these setups can signal key inflection points when confirmed.

The “W” bottom, a double-bottom structure within the Bollinger Bands, typically forms when prices dip twice. In most cases, the second low is higher than the first one.

Potential ‘W’ bottoms in Bollinger Band terms in $ETHUSD and $SOLUSD, but not in $BTCUSD. Gonna be time to pay attention soon I think.

— John Bollinger (@bbands) October 18, 2025

This implies that the selling momentum is reducing and buyers are gradually taking control. Once confirmed, it marks the beginning of an upward shift. This growing optimism echoes recent bullish commentary from global investors. Recently, financial educator Robert Kiyosaki called Bitcoin and Ethereum “real money,” citing their resilience amid economic uncertainty.

Bollinger’s remark follows his earlier analysis in April, when he spotted a similar pattern in BTC/USD. Back then, he described it as a “classic Bollinger Band W bottom” that still needed confirmation.

Bitcoin later rallied from that zone, validating his observation and reinforcing his reputation for accuracy in identifying early trend reversals. This time, though, Bollinger’s focus has shifted to Ethereum and Solana, which may now be leading indicators for a broader recovery.

Ethereum Gains Momentum Against Bitcoin, Signaling Possible Altcoin Rotation
TGW Capital, a crypto analytics firm, reposted Bollinger’s statement, emphasizing how his April Bitcoin call had played out. They suggested that ETH and SOL could follow a similar trajectory if current formations hold.

Adding to the optimism, ETH price rose 1.52% in the last 24 hours to around $3,891, while SOL price climbed 2.15% to nearly $186. Recent data supports this shift in market structure. The ETH/BTC pair has climbed 1% in the past 24 hours, showing that Ethereum is gaining strength relative to Bitcoin.

The Ethereum/Bitcoin ratio is over 7% in a week, which indicates capital rotation off Bitcoin and into Ethereum. Institutional flows appear to mirror this shift. BlackRock recently trimmed its Bitcoin holdings while increasing its exposure to Ethereum during the recent market downturn.

The ETH/BTC pair shows Ethereum outperforming Bitcoin, signaling renewed altcoin momentum in the market.
This may prove the evaluation of Bollinger that ETH is approaching a possible bottom zone, and BTC is still at a consolidation phase. Usually, the rise in this ratio is followed by a period when altcoins perform better than Bitcoin.

This is called an alt season and it points to a divergence between leading assets. Even though Bitcoin is trading around its major support zone on the weekly chart, ETH and SOL are reacting positively to accumulations again.

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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Pi Coin trades at $0.205, holding above the crucial $0.200 support that previously fueled rebounds during market weakness.RSI sits in the oversold zone, suggesting selling exhaustion and possible accumulation-driven recovery ahead.CMF remains above zero, signaling sustained inflows; if momentum holds, Pi Coin could rise toward $0.229 or $0.256.Pi Coin has recently witnessed heightened volatility, with its price fluctuating amid weak growth over the past few days. 

The altcoin’s limited upward movement has raised skepticism, but improving investor sentiment and technical signals suggest a potential reversal is likely.

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Pi Coin Could Bounce BackThe Relative Strength Index (RSI) for Pi Coin is currently in the oversold zone, a level that often indicates exhaustion among sellers. Historically, such dips have marked key turning points for the cryptocurrency.

Just last week, a similar condition preceded a notable rebound, suggesting that accumulation may soon replace selling pressure.

Investors often interpret oversold conditions as opportunities to enter the market at discounted prices. If accumulation strengthens, Pi Coin could experience a shift in momentum as buyers move to capitalize on low valuations.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Pi Coin RSI. Source: TradingViewSponsored

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The Chaikin Money Flow (CMF) indicator has shown fluctuations over recent sessions but remains above the zero line in positive territory. This implies that capital inflows continue to outweigh outflows, a positive sign for market stability. Even with temporary weakness, sustained inflows indicate that Pi Coin’s investor confidence has not fully eroded.

While momentum has softened slightly, the overall liquidity structure supports a steady recovery. If the CMF maintains its position above zero, it could provide the foundation for renewed buying activity. 

Pi Coin CMF. Source: TradingViewPI Price Is Holding Above Key SupportPi Coin is trading at $0.205, holding firmly above the $0.200 support level, which has acted as a critical base for past rebounds. The level helped the altcoin recover last week, and a similar bounce could emerge if bullish sentiment builds further.

Should this occur, Pi Coin could rise toward the $0.229 resistance level, with a potential breakout paving the way to $0.256. Achieving this move would require solid investor support and favorable market cues.

Pi Coin Price Analysis. Source: TradingViewHowever, if the broader market turns bearish, Pi Coin could lose the $0.200 support. Thus, the token could slip to $0.180 or even $0.153—its all-time low—invalidating the bullish thesis.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

After a short-lived display of bullish momentum, where price returned as high as about $116,000 after the tariff-induced flash crash, Bitcoin’s price has maintained a sharp downward trend in the third week of October. More shockingly, on-chain data has surfaced that paints a pessimistic yet uncertain picture of the cryptocurrency’s future.

$100,000 Emerges As Key Support Zone
In a recent X post on Friday, CryptoQuant analyst Julio Moreno shared insights from his technical analysis of the Bitcoin price action. Moreno highlighted that Bitcoin’s most recent break beneath what was a price consolidation range of $120,000-$108,000 has caused a shift of attention towards $100,000 as the next critical level.

The crypto analyst defended his report with the Bitcoin Trader On-chain Realized Price Bands metric, which measures the lower boundary of the average on-chain acquisition cost for Bitcoin short-term holders. Simply, this metric helps identify the price level that would act as support in cases where the price experiences corrective movement.

Source: @jjcmoreno on X
From the chart shared above, $100.9k is currently the lower boundary of the average trader realized price, one that Moreno expects could serve as a support zone.

Aside from technical analysis and on-chain activity, $100,000 is also a significant psychological price level, as it serves as the hallmark where Bitcoin enters a six-figure valuation. If the Bitcoin price were to fall to levels as low as $100,000, the strong psychological backing by market participants could translate to its price action. As a result, the flagship cryptocurrency could see temporary relief from the bearish pressure that it is currently under.

What Next For Bitcoin?
As was previously mentioned, $100,000 stands as a significant level for the Bitcoin price, with psychology and technical analysis coming together to reinforce its importance.

Derivable from Moreno’s post is the conjecture that if the $100,000 support were to hold, Bitcoin’s bullish sentiment among market participants could be renewed, thus setting the pace for the flagship cryptocurrency’s recovery towards its current all-time-high price. 

On the other hand, the failure of this important price level could carry grave implications, especially for short-term holders. A break in this psychological support could trigger a sharp sentiment shift amongst Bitcoin market participants, causing them to sell their holdings to minimize losses or escape with some profits. 

Interestingly, the 365-day Moving Average (MA) sits around the $100,000 psychological support. For context, the 365-day MA is a technical indicator that shows Bitcoin’s average closing price over the past year. By extension of its primary function, the indicator is used to gauge Bitcoin’s direction in the long term.

If Bitcoin should therefore slip beneath its 365-day MA of $100,000, it could be a sign that the digital asset is about to assume a long-term bearish trajectory, a sign which might precede major price corrections. As of this writing, Bitcoin is worth approximately $107,400, showing a 7-day loss of more than 5% of its value.

BTC trading at $106,953 on the daily chart | Source: BTCUSDT chart on Tradingview.com
Featured image from Flickr, chart from Tradingview

Hyperliquid spent $644 million repurchasing HYPE, which accounted for 46% of all 2025 buybacks.

Hyperliquid is leading the token buyback in 2025, according to CoinGecko. The platform has allocated over $644.64 million in revenue to repurchase its HYPE tokens through its Assistance Fund, which represents 46% of all token buyback spending this year.

In fact, Hyperliquid’s buyback efforts are equivalent to the combined spending of the next nine largest buybacks.

HYPE Buybacks Overshadow Market
To date, at least 21.36 million HYPE tokens have been repurchased. This figure accounted for roughly 2.1% of the total supply. Monthly buybacks have averaged $65.50 million, fluctuating from $39.14 million in March to a peak of $110.62 million in August, with an average repurchase price of $30.18 per HYPE.

To put this into perspective, LayerZero ranks as the second largest token buyback, having spent $150 million in September to repurchase 5% of its ZRO supply, with an average price of $3.00. However, this was a one-off discretionary buyback, and CoinGecko expects Hyperliquid’s ongoing program to maintain its dominance.

Meanwhile, Pump.fun occupied the third spot as it spent $138.17 million on repurchases since July, averaging $40.47 million per month, and capturing 3% of its total supply. While Pump.fun’s average buyback price of $0.0046 places its repurchased tokens at a paper loss following the October 10 crypto crash, the program demonstrates a strategic approach to supply management.

Raydium, the Solana-based DEX, leads in token buyback-and-burn activity after spending $100.35 million since 2022. Other notable projects include Rollbit ($27.93 million), Bonk via Bonk.fun ($27.30 million), Tron’s Sun platform ($3.03 million), and exchange WOO ($1.68 million).

Overall, CoinGecko identified 28 projects implementing meaningful buybacks in 2025, amidst a growing trend in the industry as projects explore buybacks as a mechanism to return value to holders and incentivize long-term engagement.

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Bitcoin (BTC) Taps a New ATH Above $126K, These Alts Head South: Market Watch

DeFiLlama Delists Aster’s Perpetual Futures Data Following Wash Trading Suspicions

Token Buybacks Boom
Zooming out, token buybacks have surged to over $1.40 billion so far in 2025. The trend was largely fueled by Hyperliquid. On average, crypto projects have spent roughly $146 million per month repurchasing their tokens this year. A significant spike in September’s figures was linked to LayerZero’s one-off $150 million repurchase, though CoinGecko clarified that this announcement likely distorted month-to-month comparisons.

Excluding that, September’s total buyback spending stood at $168.45 million. Interestingly, the pace of buybacks has accelerated in the second half of 2025 as spending saw a jump of 85% month-on-month in July. As of mid-October, projects have already spent almost $89 million, putting the month on course to log a fourth straight period above the first-half average of over $99 million.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

‘Rich Dad Poor Dad’ author Robert Kiyosaki has again made a case for Bitcoin and also Ethereum as a hedge against inflation. This came as he advised investors to ditch fiat and move to save their money in BTC or ETH.

Bitcoin and Ethereum Are Real Money, Kiyosaki Says
In an X post, the renowned author urged investors to save “real money” such as BTC, ETH, gold, and silver rather than fake government money. Kiyosaki remarked that while he is happy that these assets are going up, his concern is that inflation is making life harder on the poor and middle class.

THE RICH get RICHER: while I am personally happy gold, silver, Bitcoin, Ethereum are going up…. My concern is the price of life…. AKA…inflation….makes life harder on the poor and middle class.

Please do your best to not be a victim of a broken and corrupt monetary system.…

— Robert Kiyosaki (@theRealKiyosaki) October 17, 2025

In line with this, he advised investors to do their best not to be victims of a “broken and corrupt monetary system.” He added that government money is “fake money” and that while it makes the rich richer, it unfortunately makes the poor poorer. This is why he believes investors should hold assets like Bitcoin and Ethereum rather than fiat.

This isn’t the first time Kiyosaki has advised investors to hold assets like BTC and ETH rather than fiat. Last month, the ‘Rich Dad Poor Dad’ author cited the major bond market collapse in America, Britain, and Europe as a reason why investors should pivot to these alternative assets.

Max Keiser Echoes a Similar Sentiment
Bitcoin maximalist Max Keiser also recently echoed a similar sentiment, alluding to a 2021 X post from Twitter’s founder, Jack, who said Hyperinflation was going to change everything. Keiser stated that Jack was right and that what the market is seeing in gold and BTC is proof.

From @jack in 2021:

He was absolutely right and what we’re seeing in Gold & Bitcoin is proof.

I suggest people stop arguing over gold vs. Bitcoin, and the OP RETURN regression, and focus on taking your safe haven asset Bitcoin and moving to safe haven country El Salvador. https://t.co/cfRUTdUtMa

— Max Keiser (@maxkeiser) October 18, 2025

Notably, the BTC price and gold have reached new highs recently as part of a ‘debasement trade’ with investors hedging against inflation and other macro uncertainties. Bitcoin rallied above $126,000 earlier this month before its recent pullback amid a broader crypto market crash.

Keiser advised investors to stop arguing over gold and BTC and focus on taking their safe haven asset, BTC, and preserving it. Despite his earlier remarks, he reminded investors that gold and silver are “easily confiscated,” while Bitcoin is “unconfiscatable,” suggesting it is a better safe-haven asset than the precious metals.

Reminder,

Gold & Silver are easily confiscated.

Bitcoin is unconfiscatable. https://t.co/EoU3ophWr5

— Max Keiser (@maxkeiser) October 18, 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.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

A new wave of highly leveraged exchange-traded funds (ETFs) could soon storm the stock and crypto markets if approved. U.S.-based issuer Volatility Shares has filed with the Securities and Exchange Commission (SEC) to launch an ambitious lineup of 3x and 5x ETFs tied to individual stocks and cryptocurrencies, including Bitcoin, Ether, Solana, and XRP.

According to Bloomberg ETF analyst Eric Balchunas, the firm’s latest filing includes 27 products spanning equities, including Tesla, Nvidia, Alphabet, Coinbase, and several crypto assets.

“They haven’t even approved 3x, and VolShares is like, let’s try 5x,” Balchunas quipped, referring to the regulator’s ongoing caution toward high-risk leveraged instruments.

The proposed funds, if approved, could go live as early as December 29, 2025. However, their ticker symbols and management fees remain undisclosed.

While the prospect of a 5x XRP ETF sounds enticing for traders seeking amplified exposure, industry observers warn that such products carry extreme volatility and compounding risks.

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By design, a 5x ETF aims to deliver five times the daily returns of its underlying asset. That is, a 2% move in XRP could translate to a 10% swing in the ETF’s value, in either direction.

Financial analysts have cautioned that these funds reset their leverage daily, which can lead to volatility decay, eroding returns over time, especially during choppy market conditions. As one commentator put it, a 5x XRP ETF would be “one of the riskiest and most volatile products available in the U.S.”

The move by Volatility Shares comes amid a record-breaking influx into ETFs across all asset classes. Data from Bloomberg’s Balchunas shows inflows nearing $1 trillion in 2025 alone, highlighting the growing dominance of passive investment vehicles.

However, this rapid expansion has sparked debate over market reflexivity and the idea that ETFs absorb volatility until it explodes, potentially amplifying systemic risks.

If approved, the 5x XRP ETF could redefine leveraged crypto exposure in traditional finance. But for now, it is a bold, and potentially perilous, experiment.

Oct 18, 2025 at 18:42 // Price

Solana price analysis by Coinidol.com. SOL has continued its sideways movement above the $170 support level following the breakdown on October 10.

SOL price long-term prediction: ranging

Over the past week, bearish momentum has subsided, and the altcoin has established a sideways pattern above the $170 support and below the moving average lines. On the downside, bears have twice failed to push the price below the $170 support.

On the upside, buyers are making a second attempt to move the price above the moving average lines. On October 14, bullish momentum was halted at the 21-day SMA level. Solana price could rise to highs of $240 and $253 if buyers sustain the price above the moving average lines. However, if the bullish move fails, the current sideways pattern will continue. Today, Solana is priced at $185.

SOL price indicators analysis

The price bars are below both the 50-day and 21-day moving averages, indicating a current downtrend. On the 4-hour chart, the price bars remain below the horizontal moving average lines, confirming a sideways trend. The price has oscillated below and above the 21-day SMA as the altcoin began its range-bound movement.

SOL/USD daily chart - October 18, 2025

What is the next move for SOL?

Solana has stabilised above the $170 support level as buyers attempt to push the price above the moving average lines. The altcoin is trading within a range of $170 to $210, or below the moving average lines. Solana will establish a trend once the current range-bound levels are breached. The crypto signal remains constrained by the altcoin's resistance and support barriers.

SOL/USD 4-hour chart - October 17, 2025

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.

Journalist

Posted: October 19, 2025

Key Takeaways
What triggered the recent surge in ENA’s price and trading volume? 
President Donald Trump’s tariff remarks on China sparked renewed interest, pushing ENA up 18% with a 45% volume spike.

What do current market signals suggest about ENA’s near-term direction? 
Despite bullish accumulation and momentum, mixed derivatives data hints at potential volatility and resistance near $0.4740.

The sentiment around Ethena [ENA] and other cryptocurrencies has shifted notably following U.S. President Donald Trump’s recent remark on China’s 100% tariff.

Following these developments, not only did the ENA price surge, but token accumulation also skyrocketed.

ENA’s current price amid Trump’s Tariff update 
At press time, ENA’s price has surged over 18% in the past 24 hours, and was trading around $0.45. Trading volume also spiked 45%, reaching $655 million, signaling strong market interest.

This rally was sparked by President Trump’s comment about possibly moving up the 100% China tariff deadline from the 1st of November.

Trump added,

“China wants to talk. We like talking to China.”

Ethena founder adds 48 million ENA
Whale activity has added fuel to ENA’s upward momentum. 

According to crypto tracker Onchain Lens, a multisig wallet associated with Ethena’s founder recently acquired 48 million ENA tokens, valued at $20.41 million, over the past three days from top exchanges like Binance and Bybit.

Although this accumulation occurred over the past three days, the price had been declining and struggling to gain momentum.

Experts’ prediction for ENA 
Considering the current market sentiment and ENA’s upward momentum, several bold predictions have recently surfaced on X, with some suggesting that ENA could reach the $1.40 level, while others predict $1.30.

These predictions have gained widespread attention from crypto enthusiasts, especially ENA holders.

Despite these predictions, AMBCrypto’s technical analysis on the daily time frame reveals that ENA is currently in a downtrend and has been facing resistance at the $0.4740 level for the past six trading days.

Source: TradingView

Based on the current price action, if the momentum continues and ENA breaks out above this resistance level, there is a strong possibility of a 27% price surge toward the next resistance at $0.60.

However, if it fails to break above this level, there is also a possibility that the ENA price could move sideways or continue its downward momentum.

At press time, the Average Directional Index (ADX) value stood at 41, well above the key threshold of 25, indicating that the asset has strong directional momentum.

Derivative tool hints at mixed signals
Looking at the current market sentiment, investors and traders appear divided; some see this as a time to sell, while others are betting on long positions.

Derivatives platform CoinGlass reveals that, over the past 24 hours, exchanges have recorded an inflow of $1.74 million worth of ENA tokens.

This inflow, indicating a movement of assets from wallets to exchanges, suggests potential dumping activity.

Source: CoinGlass

During the same period, traders have shown strong interest in long positions.

At press time, ENA’s major liquidation levels stand at $0.425 on the lower side and $0.475 on the upper side, with $14.78 million in long positions and $4.95 million in short positions built at these levels.

Source: CoinGlass

When combining these metrics with the whales’ recent accumulation, it appears that the overall ENA market sentiment is bullish.

However, some investors took advantage of the recent price jump by selling their holdings, which may be due to the heavy volatility in the market.

Back in 2020, about 120,000 Bitcoin, now worth around $15 billion, were mysteriously moved between wallets. Many believed it was a hack.

Uniswap, one of the largest decentralized exchanges, has added Solana to its web app. This means users can now connect a Solana wallet and trade Solana-based tokens directly on Uniswap, alongside Ethereum and more than 13 other networks.

According to posts and short clips published on October 17, 2025, social media personality Andrew Tate warned that Bitcoin could fall to $26,000 before a bottom forms.

His clip argues that as long as many traders expect quick rebounds and hold long bets, the market can keep sliding until optimism is gone.

But, it was the “car crash” and “losing your entire family” and having an arm amputated in an accident part that sounded disturbing. It was all a metaphor about the reality of investing in Bitcoin and that everything could get worse. At least, in the way he sees it.

On Psychology & Risk
Tate’s message was mostly dark and foreboding. He spoke about pain, suffering and how too much expectation can wreck people’s dreams. His message enters on market psychology: too many people still thinking price won’t go lower, which is the worst part — and that keeps risk alive.

He framed the move as a capitulation or “amputation” — a moment when traders finally give up and positions are cleared. Several crypto outlets picked up the clip and reposted short videos of his comments across X and Instagram.

Market data gives context to why his warning grabbed attention. Bitcoin recently pulled back from highs earlier in October and traded near the $106,000–$107,000 area on October 17, with large liquidations hitting futures and options desks.

BITCOIN IS GOING TO $26,000 pic.twitter.com/Ng8ntmjWow

— Andrew Tate (@Cobratate) October 17, 2025

Reports show hundreds of millions cleared from leveraged positions in the recent sell-off. That kind of forced selling can amplify moves in either direction.

Market Moves And Data Points
Other outlets pointed out outflows from spot Bitcoin ETFs on days when prices slid, evidence that institutional flows can swing quickly and affect liquidity.

Some coverage named single-day ETF outflows in the hundreds of millions, underscoring how fragile demand can look in a down leg. At the same time, a few market vets argued that these drops create buying chances for longer-term players.

BTCUSD now trading at $107,084. Chart: TradingView
Observers split on probability. Some analysts warn that a deep correction is possible if broad liquidity dries up or if macro shocks hit risk assets.

Others note that structural change — like larger custody flows and ETF frameworks — creates more buyers than in past cycles, which could make a plunge to $26,000 unlikely without a major external shock.

What Traders Should Watch
Meanwhile, key numbers to watch are support near four-figure and five-figure levels that traders have flagged this week, liquidations across futures, and ETF flows in and out of spot products.

Momentum indicators versus gold and on-chain metrics have also been highlighted by some outlets as signs of whether sellers are exhausted or just getting started.

In short, Tate’s $26,000 call is a bold, simple forecast built on a sentiment argument. It is newsworthy because it came from a widely followed figure and because crypto is volatile right now. But it is one scenario among many.

Featured image from Gemini, chart from TradingView

Trade wars and Bitcoin blues: déjà vu as U.S.–China tensions weigh on crypto Christina Comben · 41 seconds ago · 2 min read

The current drawdown feels a lot like déjà vu as U.S.–China trade tensions trigger a sharp correction that could endure into November.

Oct. 18, 2025 at 9:00 pm UTC

2 min read

Updated: Oct. 18, 2025 at 1:25 pm UTC

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

Bitcoin is once again caught in the crossfire of a high-stakes geopolitical standoff. This time, the knock-on effects are being felt across every corner of the crypto market. The script is familiar: The return of U.S.–China trade tensions has triggered a sharp correction in Bitcoin, echoing a pattern seen earlier this year. When escalating tariffs sent risk assets spiraling for weeks on end, BTC corrected by 30%.

U.S.-China trade tensions: another macro shock, another Bitcoin slideAn ‘Uptober’ that began in traditional style with a Bitcoin rally of nearly 18% quickly soured after President Trump announced fresh 100% tariffs on Chinese imports and sweeping export controls on critical software.

The reaction was swift. Bitcoin tumbled over 13% from its highs above $126,000, briefly plunging to the low $107,000s as more than $19 billion in leveraged positions were wiped out in a matter of days, over $9.4 billion of that in just 24 hours.

Trade headlines bled into crypto, and a sense of déjà vu swept through the market. Echoes of the March–May correction, when a similar geopolitical flare-up triggered a 30% drawdown that stretched on for nearly three months, were impossible to ignore.​

Liquidity stress and contagionBehind the price action, the mechanics were clear and brutal. As volatility surged, liquidity fragmented across exchanges. Altcoin markets dislocated, amplifying the selloff. The collapse of the USDE stablecoin and a cascade of liquidations revealed just how entwined crypto liquidity now is with global macro risk and headline shocks from Washington and Beijing.

Even with the Fed sparking risk-on sentiment with dovish talk, the speed and violence of the deleveraging exposed a structural vulnerability. Crypto is a high-beta liquidity asset, and when systemic risk spikes, it gets punished.​

Structural resilience beneath the turmoilYet beneath the volatility, the industry isn’t throwing in the towel. Institutional portfolios may have trimmed risk, but Bitcoin’s status as a macro hedge appears intact. Over 172 public companies now hold Bitcoin in their treasuries. And even as ETF outflows ticked up, retail buyers poured more than $1.1 billion into spot markets during the drawdown.

That said, headwinds will likely persist, ecoinometrics notes that previous drawdowns of this flavor didn’t resolve until risk appetite returned nearly three months later.

Bitcoin’s Bottom (Source: Ecoinmetrics)With Bitcoin now struggling to defend support above $107,000 and October morphing into a battle of attrition, all eyes remain on U.S.-China trade tensions. If the March–May playbook repeats itself, macro-induced turbulence could persist into November before Bitcoin’s secular trend resumes.

For now, volatility is a feature, not a bug, and if history is any guide, recovery in crypto will come not from prediction, but from the gradual return of risk appetite and liquidity.

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