Market Signal Briefing

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LUXEMBOURG--(BUSINESS WIRE)--Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), a global provider of space-based data, analytics and space services, has been awarded a €3 million contract renewal by EUMETSAT, Europe’s meteorological satellite agency. The renewal is part of a two-year operational contract starting August 14, 2024.

Through the contract, the Company will continue to provide radio occultation (RO) data. The Company’s RO data delivers information about the vertical profiles of pressure, humidity, and temperature across all points of the globe, including in the most remote regions and open oceans.

Spire will provide the data in near-real time, with EUMETSAT processing and disseminating it to national weather agencies across Europe and the broader World Meteorological Organization (WMO) community for integration into global forecast models.

Spire offers a vast portfolio of current weather data, historical weather data, and weather forecast solutions. Most recently, the Company introduced two AI-driven weather models, AI-WX and AI-S2S, which extend forecasting capabilities up to 45 days and provide probabilistic insights to help industries better anticipate and respond to extreme weather events.

About Spire Global, Inc.

Spire (NYSE: SPIR) is a global provider of space-based data, analytics and space services, offering unique datasets and powerful insights about Earth so that organizations can make decisions with confidence in a rapidly changing world. Spire builds, owns, and operates a fully deployed satellite constellation that observes the Earth in real time using radio frequency technology. The data acquired by Spire’s satellites provides global weather intelligence, ship and plane movements, and spoofing and jamming detection to better predict how their patterns impact economies, global security, business operations and the environment. Spire also offers Space as a Service solutions that empower customers to leverage its established infrastructure to put their business in space. Spire has offices across the U.S., Canada, UK, Luxembourg and Germany. To learn more, visit spire.com.

More News From Spire Global, Inc.

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NEW YORK--(BUSINESS WIRE)--In response to inquiries, Jefferies Financial Group, Inc. (NYSE: JEF) (“Jefferies”) announced today: On September 29, 2025, First Brands Group, LLC and certain of its affiliates (“First Brands”) filed voluntary petitions for Chapter 11 bankruptcy protection. First Brands is an aftermarket auto parts manufacturer that sells its products to major auto-parts retailers (the “Obligors”). Point Bonita Capital, a division of Leucadia Asset Management (“LAM”), manages on beha.

Reinforces TopBuild’s Leadership Position in Specialty Distribution, 
Extends Geographic Footprint and Expands Mechanical Insulation Fabrication Capabilities

Further Grows TopBuild’s Presence in Commercial and Industrial End Markets and Strengthens Non-Cyclical Revenue Stream

Expects $35 to $40M in Annual Run-Rate Cost Synergies

DAYTONA BEACH, Fla., Oct. 08, 2025 (GLOBE NEWSWIRE) -- TopBuild Corp. (NYSE:BLD), a leading installer of insulation and commercial roofing and a specialty distributor of insulation and related building material products to the construction industry in the United States and Canada, announced that it successfully acquired Specialty Products and Insulation (SPI), a leading specialty distributor and fabricator of mechanical insulation solutions for the commercial, industrial and residential end markets in North America, for $1.0 billion in cash. The acquisition closed on October 7 and was funded with cash on hand, including proceeds from the September senior notes issuance. The acquisition excludes SPI’s metal building insulation (“MBI”) business.

SPI generated approximately $700 million in revenue and $75 million in EBITDA for the trailing twelve months ended June 30, 2025. The transaction represents approximately 12.4x SPI’s earnings before interest, taxes, depreciation and amortization (EBITDA) for the trailing twelve months ended June 30, 2025, inclusive of a $70 million tax asset. Considering synergies of $35-$40 million within two years, the transaction multiple is 8.3x EBITDA. The transaction is immediately accretive to earnings per share.

Robert Buck, President and Chief Executive Officer of TopBuild, stated, “The SPI acquisition is highly strategic for TopBuild. The addition of SPI’s resources and capabilities further enhances our customer value proposition while its complementary fabrication footprint strengthens and expands our presence across North America. The transaction also drives our growth in non-cyclical revenue streams given that approximately 55% of SPI’s revenue relates to recurring maintenance and repair. We are excited to welcome SPI’s talented and experienced team to TopBuild.”

Ray Sears, President and Chief Executive Officer of SPI, added, “We believe TopBuild is the best strategic owner for our business, better positioning the combined organization to provide customers with innovative and high-quality solutions. Both companies have similar corporate cultures with an emphasis on safety, respect, and a continued drive to improve.”

Based in Charlotte, North Carolina, SPI employs approximately 1,000 people across 90 branches and serves a broad base of customers across North America.

SPI Acquisition Advances TopBuild’s Growth Strategy and Drives Strong Returns:

Brings together two leading specialty distributors with strong commercial and industrial end market mix and complementary product offerings: Reinforces TopBuild’s leadership position in specialty distribution to drive further innovation and even better meet customers’ needs. Approximately 87% of SPI’s revenue is related to commercial and industrial end markets.Extends geographic footprint and expands mechanical insulation fabrication capabilities in a highly fragmented industry, enabling opportunities to drive operational efficiencies throughout the Specialty Distribution segment.Improves non-cyclical revenue mix: Approximately 55% of SPI’s revenue is driven by recurring maintenance and repair, improving TopBuild’s exposure to non-cyclical revenue.Drives strong return on invested capital and leverages core M&A strength: TopBuild expects to realize approximately $35-$40 million in annual run-rate cost synergies within two years. M&A is a core strength of TopBuild, which has a proven track record of creating significant value, having successfully completed 45 acquisitions since the spin-off in 2015 and generating an 18.2% return on invested capital as of December 31, 2024. Advisors

Guggenheim Securities, LLC and J.P. Morgan Securities LLC are serving as financial advisors to TopBuild and Jones Day acted as legal counsel. Piper Sandler acted as financial advisor to SPI and Kirkland & Ellis acted as legal counsel.

Conference Call Webcast Information

A conference call to discuss the transaction is scheduled for today, October 8 at 9:00 a.m. Eastern Time. The live call can be accessed by dialing (877) 407-9037. A simultaneous webcast of the call, along with management’s formal remarks and a presentation, will be available on the Company’s website at www.topbuild.com shortly before the call begins.

About TopBuild

TopBuild Corp., headquartered in Daytona Beach, Florida, is a leading installer of insulation and commercial roofing and is also a specialty distributor of insulation and related building material products to the construction industry in the United States and Canada. We provide insulation and commercial roofing installation services nationwide through our Installation segment which has over 200 branches located across the United States. We distribute building and mechanical insulation, insulation accessories and other building product materials for the residential, commercial, and industrial end markets through our Specialty Distribution business. Our Specialty Distribution network encompasses more than 150 branches across the United States and Canada. To learn more about TopBuild please visit our website at www.topbuild.com.

Safe Harbor Statement

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements may address, among other things, our expected financial and operational results and the related assumptions underlying our expected results. These forward-looking statements are distinguished by use of words such as “will,” “would,” “anticipate,” “expect,” “believe,” “designed,” “plan,” or “intend,” the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. Our forward-looking statements contained herein speak only as of the date of this press release. Factors or events that we cannot predict, including those described in the risk factors contained in our filings with the Securities and Exchange Commission, may cause our actual results to differ from those expressed in forward-looking statements. Although TopBuild believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, the Company can give no assurance that its expectations will be achieved and it undertakes no obligation to update any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law.

 TopBuild Corp.             Unaudited Pro Forma Net Debt Leverage                             Trailing Twelve Months Ended June 30, 2025    Historical
TopBuild (1)  Pro Forma
Progressive  Pro Forma SPI  Pro Forma Combined  Net sales$5,248 $438 $699 $6,385                EBITDA, as adjusted (2)$1,044 $89 $75 $1,208                Net debt, total (3)         $2,900  Net debt leverage          2.4x               (1) As disclosed and reconciled in previous quarterly filings with the U.S. Securities and Exchange Commission, adjusted for $32.3 million of sales and $4.7 million of pro forma adjusted EBITDA for acquisitions completed prior to June 30, 2025.  (2) Earnings before interest, taxes, depreciation, and amortization as defined in our credit agreement.  (3) Includes $750 million senior notes issued in September 2025. Net proceeds from the senior notes along with cash on hand was used to purchase SPI on October 7, 2025 for $1.0 billion.                  TopBuild Corp.            Unaudited EBITDA to Net Income Reconciliation            ($ in millions)              Trailing Twelve Months Ended June 30, 2025   Historical
TopBuild  Pro Forma
Progressive  Pro Forma SPI  Pro Forma
Combined Net income, as reported$594 $50 $(10)
 $634 Adjustments to arrive at EBITDA, as adjusted:            Interest expense and other, net 59  9  40
  108 Income tax expense 206  19  4
  229 Depreciation and amortization 143  11  40
  194 Share-based compensation 17  -  -
  17 Rationalization charges 15  -  -
  15 Acquisition related costs 6  -  -
  6 EBITDA, as adjusted$1,039 $89 $75
 $1,203              Pro forma acquisition EBITDA (a) 5  -  -   5 Pro forma TTM EBITDA, as adjusted$1,044 $89 $75
 $1,208              (a) Represents the trailing twelve months pro forma impact of acquisitions completed prior to June 30, 2025.
              This press release was published by a CLEAR® Verified individual.

Although Lucid stock  (NASDAQ: LCID) is facing bearish sentiment in the short term, Wall Street analysts project possible upside in the coming year.

At the close of the last session, LCID was valued at $22, down 8.3%, while year-to-date the shares have plunged nearly 30%.

LCID one-week stock price chart. Source: Finbold
The decline follows weaker-than-expected deliveries and a cut in annual production guidance. Notably, Lucid delivered 4,078 vehicles in Q3, up 47% year over year but short of Wall Street’s 4,286 estimate. The company now expects 18,000–20,000 vehicles this year, below earlier targets.

The sell-off has also been fueled by the expiration of the $7,500 U.S. EV tax credit, a recent 1-for-10 reverse stock split viewed negatively by investors, and persistent concerns over cash burn.

Lucid stock price prediction
On Wall Street, 11 analyst ratings compiled by TipRanks give Lucid a consensus rating of ‘Hold’. Of the 11, two recommend buying the stock, eight suggest holding, and one advises selling.

Wall Street Lucid 12-month stock price prediction. Source: TipRanks
Analysts’ 12-month price forecasts place Lucid at an average target of $30.90, implying a potential upside of about 40% from current levels. The most optimistic forecast values the stock at $70, while the lowest projects $10.

On October 6, Cantor Fitzgerald’s Andres Sheppard reaffirmed a ‘Neutral’ rating and $26 price target, citing Lucid’s strong balance sheet and production momentum, with over 10,000 vehicles delivered in 2024 and more than 6,400 in the first half of 2025.

Earlier in September, Stifel analyst Stephen Gengaro raised Lucid’s price target to $21 from $2.10 to reflect its 1-for-10 reverse stock split, while maintaining a ‘Hold’ rating. He emphasized the move was technical and not a fundamental change in the firm’s outlook, despite Lucid’s efforts to stabilize its share price and maintain listing compliance.

Featured image via Shutterstock

, /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, and Opentrons Labworks, Inc., recognized worldwide for accessible lab automation with more than 10,000 robotic systems deployed, today announced a multi-year collaboration. Together, BD and Opentrons will integrate robotic liquid-handling capabilities into BD single-cell multiomics instruments, automating critical experimental steps to accelerate and scale disease research and drug development.

BD and Opentrons Collaborate to Accelerate Single-Cell Multiomics Discoveries with Robotic Automation

"By revealing the multiple layers of biological information within cells, the field of single-cell multiomics is quickly transforming research in oncology, immunology and beyond – and automation can further accelerate adoption especially in translational and biopharma settings," said Ranga Partha, PhD, VP/GM of Global Marketing and Strategic Growth Areas, BD Biosciences. "By integrating robotics with our instruments – including the BD Rhapsody® HT Xpress System which enables million-cell studies – we are helping scientists access potentially life-changing insights with greater speed, scale and reproducibility."

The companies intend to integrate the BD Rhapsody™ System with the Opentrons Flex® platform, as well as develop verified protocols, allowing scientists to perform hands-free workflows with their single-cell multiomics experiments. A cornerstone of the collaboration is the development of an automation-compatible module for the BD Rhapsody™ System that will enable the steps of next-generation sequencing library preparation and cell capture to be automated.

"This collaboration brings together the long-standing expertise of BD in the field of single-cell multiomics with the flexible and open automation ecosystem of Opentrons," said James Atwood, PhD, CEO of Opentrons Labworks. "By combining our hardware platforms, we are making it easier and more cost-effective for labs everywhere, across basic and translational research, to perform cutting-edge single-cell sequencing at scale."

Early access opportunities for interested labs will be available soon. To learn more about the collaboration and the early access program, visit Opentrons (Booth 635) and BD (Booth 447) at the upcoming American Society of Human Genetics (ASHG) Annual Meeting in Boston, from October 14-18, 2025. Additional information is also available at opentrons.com and bdbiosciences.com.

About BD
BD is one of the largest global medical technology companies in the world and is advancing the world of health by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes on the frontlines of health care by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for health care providers. BD and its more than 70,000 employees have a passion and commitment to help enhance the safety and efficiency of clinicians' care delivery process, enable laboratory scientists to accurately detect disease and advance researchers' capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to health care. For more information on BD, please visit bd.com or connect with us on LinkedIn at www.linkedin.com/company/bd1/, X (formerly Twitter) @BDandCo or Instagram @becton_dickinson. 

About Opentrons
Opentrons Labworks, Inc., a disruptive life science company and the current market leader in entry-level lab automation, accelerates innovation in research and healthcare through its integrated lab platform. Opentrons has raised over $200 million in funding and achieved unicorn status based on its innovative technologies. The Opentrons Flex® is Opentrons' newest generation of liquid-handling lab robots, offering open-source accessibility and compatibility with generative AI tools. Opentrons provides thousands of institutions with flexible, easy-to-use lab robots, automating R&D operations and making a vast open-source library accessible to life sciences researchers worldwide. Opentrons is used in labs at the top 20 academic universities in the US and 14 of 15 leading global biopharmaceutical companies. Learn more at https://opentrons.com/.

SOURCE BD (Becton, Dickinson and Company)

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Reliance, Inc.

PHOENIX, Oct. 08, 2025 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE:RS) announced today that it will report third quarter 2025 financial results for the period ended September 30, 2025, on Wednesday, October 22, 2025, after the market closes. Reliance management will host a conference call on Thursday, October 23, 2025, at 11:00 a.m. Eastern Time. The call will be broadcast live over the Internet hosted on the Investors section of the Company's website at reliance.com.

Reliance, Inc. Third Quarter 2025 Conference Call Details

DATE:   Thursday, October 23, 2025     TIME:   8:00 a.m. Pacific Time
10:00 a.m. Central Time
11:00 a.m. Eastern Time     DIAL-IN:   (877) 407-0792 (U.S. and Canada)
(201) 689-8263 (International)     CONFERENCE ID:   13756198     WEBCAST:   https://viavid.webcasts.com/starthere.jsp?ei=1736950&tp_key=6d8a116158      For those unable to participate during the live broadcast, a replay of the call will also be available beginning that same day at 2:00 p.m. Eastern Time until 11:59 p.m. Eastern Time on November 6, 2025, by dialing (844) 512-2921 (U.S. and Canada) or (412) 317-6671 (International) and entering the conference ID: 13756198. The webcast will remain posted on the Investors section of Reliance’s website at reliance.com for 90 days.

About Reliance, Inc.
Founded in 1939, Reliance, Inc. (NYSE: RS) is a leading global diversified metal solutions provider and the largest metals service center company in North America. Through a network of approximately 320 locations in 41 states and 10 countries outside of the United States, Reliance provides value-added metals processing services and distributes a full-line of over 100,000 metal products to more than 125,000 customers in a broad range of industries. Reliance focuses on small orders with quick turnaround and value-added processing services. In 2024, Reliance’s average order size was $2,980, approximately 50% of orders included value-added processing, and approximately 40% of orders were delivered within 24 hours. Reliance’s press releases and additional information are available on the Company’s website at reliance.com.

CONTACT:
(213) 576-2428
[email protected]

or Addo Investor Relations
(310) 829-5400

The long-awaited consultation on motor finance compensation by the Financial Conduct Authority was broadly welcomed by analysts, though opinions differed on its financial impact.

Consumer redress of £8.2 billion to be paid by Lloyds Banking Group PLC (LSE:LLOY), Barclays PLC (LSE:BARC), Close Brothers Group PLC (LSE:CBG) and the rest of the industry is "towards the better end of expectations", said Deutsche Bank.

Citi felt that a total industry cost of £11 billion, also including £2.8 billion of administration costs, is "heavier than expected".

Analysts at RBC Capital Markets said the FCA had narrowed and lowered the sector impact versus earlier estimates, though it warned of possible legal challenges.

The FCA update last night was "a deep dive on what constitutes 'unfairness' in a motor finance arrangement", RBC said, viewing the resulting redress estimate on the banking sector as having been "narrowed and lowered".

However, the analysts said they are struggling to reconcile the likely impact on the banks with a section of the FCA's consultation document that states "banks account for circa 51% of total liabilities".

There is still also "some risk in our view that the final redress scheme and the FCA's definition of unfair gets challenged in the administrative courts", they added.

Panmure Liberum highlighted uncertainty over lender exposure and the high cost of administration, saying the costs to manage the process will be material, but will be deemed 'exceptional' by the companies, but are "nonetheless real costs with real implications for capital. 

"The distraction to management will continue for some further years."

Cost to each lender
The FCA's estimate of motor finance compensation, published in its consultation paper, would have an impact of around £850 million on Lloyds, according to analysts at RBC Capital Markets.

For Santander UK, they calculated a combined payment of around £350 million, with £80 million for Barclays and roughly £170 million for Close Brothers.

This was less than most of the lenders have put aside, so the RBC calculations imply provisions releases at Lloyds of around £300 million and for Close Bros of about £2 million, with "adequate provisioning" at Barclays BARC.

Provision top-ups are expected for Santander and Bank of Ireland.

However, Citi analysts felt Lloyds may have under-provisioned.

Looking at a market share of the £11 billion total cost figure, this would imply a £1.54 billion charge for Lloyds, above its existing provision of £1.15 billion, analysts at the US bank said. "We expect any top-up to occur with 4Q25 results after the scheme is finalised and launched."

But it remains unclear exactly how the proposals will be applied to any market participant, Panmure cautioned, and therefore whether provisions established to date are adequate.

"Whether any lender was 'better' or 'worse' than average is unclear from the outside, while market shares will have varied over the very long period being considered."

Close Bros and sub-prime impact
For non-prime lenders, Panmure Liberum noted that the FCA text said some lender did not engage in discretionary commission or tied arrangements and therefore "are less likely to have to pay redress under the scheme".

To avoid paying compensation, these companies, such as Vanquis Banking Group PLC (LSE:VANQ), will need to provide evidence that the borrower could not have secured a better loan offer elsewhere.

"Ironically one of the original test cases involved [Lloyds' motor finance lending arm] Black Horse advancing a loan to a customer turned down by a number of other lenders."

With respect to Close Bros, the amount of provisions for redress of £165 million to date, at £700 per customer, would imply 236k customers, compared to Panmure's previous estimate that over 1.2 million customers had been served, where 44% of which would be 528k. 

Ongoing sector impact
The FCA’s proposed redress scheme has "the potential to reshape the motor finance landscape", says Sushil Kuner, partner at law firm Freeths.

"However, the FCA is also clearly mindful of the lessons from the PPI redress programme, where overcompensation became a systemic concern.

"By embedding principles such as fairness, cost-effectiveness, and proportionality into the scheme’s design, the FCA is seeking to balance consumer protection with the need to maintain market stability and avoid undue financial strain on firms."

11h05 ▪
4
min read ▪ by
Ifeoluwa O.

Summarize this article with:

Bitcoin and gold are once again moving in lockstep, reviving their long-standing comparison as reliable stores of value. Often dubbed “digital gold,” Bitcoin has been viewed as a modern-day safe haven, much like the precious metal that has served that role for centuries. On Monday, both assets reached new milestones—Bitcoin climbed to $126,000, while gold rose past $4,000 per ounce, its highest level in history.  Market analysts believe this surge in gold could lay the groundwork for a significant rise in Bitcoin after its next halving in 2028.

In brief

Analysts believe gold’s surge could set the stage for Bitcoin to reach half of gold’s market cap after its next halving.
Ted Pillows highlighted that Bitcoin’s price often follows gold with an eight-week lag and expects strong gains for Bitcoin in the final quarter of the year.
Gold has outperformed Bitcoin so far this year, even as institutional interest in the cryptocurrency continues to grow.

Analysts Project Bitcoin’s Potential as Gold Surges
Gold’s price moving past $4,000 per ounce has pushed its estimated total value to around $27 trillion. Based on current projections, several expect Bitcoin’s overall value could reach roughly half the size of gold’s by 2028—about $13.5 trillion.

Matthew Sigel, head of digital asset research at VanEck, said he believes BTC could eventually reach half of gold’s market value after the next halving. He explained that much of gold’s worth comes from its role as a store of value rather than from jewelry or industrial use. 

In a similar way, younger investors, particularly in emerging markets, are increasingly turning to Bitcoin for that purpose. Based on gold’s current price, he suggested that if Bitcoin’s market value grows to half of gold’s, each coin could trade around $644,000.

Meanwhile, another market observer, Ted Pillows, noted that “BTC has been highly correlated to gold with an 8-week lag. Right now, Gold is hitting new highs, which means Bitcoin will do this next. Maybe we could see another correction, but overall Q4 will be big for Bitcoin.”

Analysts Divided on the BTC-Gold Balance
While Bitcoin continues to attract attention, gold has outperformed it so far this year, rising about 50%. The metal’s strength has been driven by global economic uncertainty, a softer US dollar, and unpredictable tariff policies, all of which have boosted demand for more stable assets. Many investors have turned to gold as a safe place to park their money while markets remain volatile.

Market veteran Peter Brandt believes gold’s momentum could continue before any major pullback occurs. He suggested that the metal may rise even higher in the near term, warning that “all-in” FOMO buyers at these levels will need deep pockets in the future.”

On the other hand, Peter Schiff, a longtime gold supporter and one of Bitcoin’s critics, has downplayed Bitcoin’s latest rally. While he acknowledged BTC’s recent climb to $126,000, he pointed out that the digital asset remains roughly 15% below its all-time high when measured against gold’s value. According to Schiff, “Based on where gold is now, Bitcoin would have to rise to about $148K to match its record high priced in gold.”

Even with Bitcoin still trailing gold, institutions are showing growing confidence in its long-term potential. Deutsche Bank recently forecast that central banks may begin including Bitcoin in their reserves over the next five years. Such a move would mark a significant turning point in how traditional financial systems view the digital asset. For now, gold still leads as the world’s most trusted store of value, but BTC’s momentum continues to build as it gains broader acceptance.

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Ifeoluwa O.

Ifeoluwa specializes in Web3 writing and marketing, with over 5 years of experience creating insightful and strategic content. Beyond this, he trades crypto and is skilled at conducting technical, fundamental, and on-chain analyses.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

October is off to a great start, but fundamentals matter more than what month we're in.

Uptober -- a mix of "up" and "October" -- has become a popular social media tagline for the crypto community. So far, it's off to a good start. On Oct. 6, Bitcoin (BTC -1.30%) set a new all-time high of more than $126,000, with gains of over 9% on the first six days of the month.

Bitcoin has historically performed well in October, posting gains in all but two of the past 12 Octobers, per CoinGlass data. These memes can be fun and boost sentiment in the short term. But it's also important to be wary: Fundamentals and wider economic factors are more significant long-term.

That said, there are a couple of metrics that suggest this October could be another good month for cryptocurrencies, particularly Bitcoin.

1. Stablecoin supply ratio (SSR) is at mid levels
The stablecoin supply ratio (SSR) compares the value of all the Bitcoin in circulation (its market capitalization) with the value of the stablecoin market. Many crypto traders use stablecoins to trade in and out of digital currencies. As such, when there's a lot of money in stablecoins, people view it as cash on the sidelines that's ready to be spent.

SSR is the Bitcoin market cap divided by the stablecoin market cap. A low SSR suggests there's a lot of cash in stablecoins that could be used to buy Bitcoin. Conversely, a high SSR could show limited stablecoin purchasing power.

According to Cryptoquant, the SSR on Oct. 4 was 16.3. For context, in mid-August, when Bitcoin set its previous all-time high, it was over 19. Back in April, when Bitcoin was struggling due to tariff concerns, it slipped below 13.

The slight flaw in this metric is that stablecoins are starting to be used for many other purposes, such as decentralized finance, payments, and money transfers. As such, a higher stablecoin market cap does not necessarily mean there's more dry powder waiting to snap up cryptocurrencies. It could also reflect growing interest in the stablecoin market for a mix of reasons.

Image source: Getty Images.

2. Open interest surged to a record high
Bitcoin open interest (OI) shows the number of active futures and options contracts. These are types of derivatives that allow traders to buy or sell an asset at some point in the future. When Bitcoin OI is high, it means there are a lot of positions in the market. On its own, it doesn't tell us much about prices, but it can show us how strong the conviction behind a particular trend is.

For example, when both prices and OI are increasing, it suggests traders are optimistic and points to upward momentum. If prices are increasing but OI has started to fall, that could be a sign that the rally is running out of steam. Increasing OI alongside decreasing prices may signal a strong downward trend.

According to CryptoQuant, Bitcoin OI reached a record high of $46.3 billion on Oct. 5. Taken alongside Bitcoin's gains in recent days, this bodes well for another strong Uptober.

3. JPMorgan says Bitcoin-to-gold volatility ratio shows it's undervalued
A recent report from JPMorgan says that the Bitcoin-to-gold volatility ratio has fallen below 2 -- its lowest point ever. This suggests Bitcoin is becoming less risky in comparison. On this basis, the analysts say there's room for investors to allocate more of their risk capital to Bitcoin. Indeed, the report says Bitcoin would need to rise to $165,000 for its market cap to match that of gold on a risk-adjusted basis.

The logic is that both Bitcoin and gold act as alternative stores of value that can hedge against weakening fiat currencies. Based purely on volatility, the JPMorgan team thinks Bitcoin could be undervalued against gold.

The argument makes sense, but it is worth noting that Bitcoin has yet to fully prove itself as a form of digital gold. Plus, volatility is not the only risk associated with Bitcoin investments. It is still a relatively new asset that could face regulatory, security, and technological risks, including hacking or even systemic failure.

Think beyond Uptober
These are just three of many metrics that suggest Bitcoin could rally further in October. Rather than focusing on a potential October surge, think about how Bitcoin may perform in the coming five to 10 years and how it fits with your portfolio. Be clear about your risk tolerance because this helps you decide how much of your portfolio you might allocate to assets like cryptocurrency.

JPMorgan Chase is an advertising partner of Motley Fool Money. Emma Newbery has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin and JPMorgan Chase. The Motley Fool has a disclosure policy.

YZi Labs, the investment and incubation arm of Binance, formerly known as Binance Labs, has unveiled a $1 billion Builder Fund aimed at accelerating innovation across the BNB Ecosystem, with a special focus on BNB Chain.

XRP stalled under $3, pressured by large exchange reserves and bearish crowd sentiment. Long-term XRP supporters still await a breakout, while traders retain 80% long positions.

YZi Labs, a venture capital firm founded by Binance co-founder Changpeng “CZ” Zhao, is launching a $1 billion fund for founders in the BNB ecosystem amid the token skyrocketing to all-time highs.

YZi Labs announced Wednesday a $1 billion Builder Fund to double down on founders in the BNB (BNB) ecosystem, particularly on the BNB Chain.

“BNB ecosystem represents the next phase of digital infrastructure, where decentralization, on-chain scalability converges with security and real distribution,” YZi Labs head Ella Zhang said.

The fund’s launch came shortly after BNB, the native token of the Binance-backed BNB Chain, became the third-largest cryptocurrency by market cap on Tuesday, adding at least $40 billion in market value in October.

YZi Labs is a serial BNB ecosystem supporterFormerly known as Binance Labs, YZi Labs has played a crucial role in reinforcing momentum in the BNB ecosystem, funding multiple projects, including Binance-linked decentralized exchange (DEX) PancakeSwap.

YZi Labs has also backed ListaDAO, a decentralized finance (DeFi) protocol on the BNB Chain, the blockchain infrastructure project Aspecta (ASP) and Aster, a multichain DEX that was recently delisted by major crypto data aggregator DefiLlama.

BNB Ecosystem funding by YZi Labs. Source: YZi LabsAdditionally, YZi Labs has been advancing institutional BNB participation through projects like BNB Digital Asset Treasury (DAT), the RWA [real-world asset] fund by China Renaissance and the BNB Yield Fund by Hash Global.

$1 billion for multiple sectors According to YZi Labs’ Zhang, the new $1 billion fund targets supporting BNB builders across multiple sectors, including DeFi, RWA, AI and decentralized science (DeSci). The funding will also seek to support BNB Chain-based payments and wallets, the announcement noted.

As part of the funding, BNB Chain’s flagship accelerator, Most Valuable Builder (MVB), will operate under YZi Labs’ Easy Residency global incubation program as a dedicated track for BNB builders.

Together, MVB and Easy Residency will create a unified program offering up to $500,000 in funding and direct access to the YZi Labs and BNB Chain team, alongside YZi Labs’ network of investors, mentors, partners and user ecosystem.

“We look for early-stage founders building for the long term, with strong conviction, execution capability, and clear product-market alignment,” a spokesperson for YZi told Cointelegraph. The representative noted that the fund will be progressively deployed starting immediately.

Does YZi handle CZ’s BNB, estimated at $116 billion?While YZi Labs has over $10 billion in assets as a global venture capital platform, the company also reportedly manages billions in assets for Binance co-founders CZ and Yi He, according to a report by Bloomberg in January.

Although YZi denied functioning as a family office in January, Zhang had previously reportedly claimed that YZi had been turned into “purely a family office investment vehicle.”

“While the capital originates from CZ, YZi Labs’ structure and operations differ from a traditional family office,” a spokesperson from YZi told Cointelegraph, highlighting focus on progressive investments and incubation programs.

Amid BNB posting new historic highs above $1,300, CZ’s personal wealth from BNB exposure has ballooned by billions. With BNB’s market cap reaching a record-breaking $182 billion on Tuesday, CZ may hold about $116 billion in the crypto asset, as previous reports suggested that he held at least 64% of the BNB supply as of June 2024.

Source: BubblemapsCZ is far from being the only one that profited from BNB’s market surge. According to the onchain analytics platform Bubblemaps, at least 70% of BNB Chain traders are currently in profit, with 40 traders each earning $1 million.

Magazine: Hong Kong isn’t the loophole Chinese crypto firms think it is

As the TRUMP coin continues to slide, its developers are shifting focus toward long-term token accumulation.

The total market capitalization plunged below $4.3 trillion.

The cryptocurrency market, which had been booming since the start of October, took a step back over the past 24 hours.

Bitcoin (BTC) briefly tumbled under $121,000, whereas Ethereum (ETH) and other popular altcoins registered even more substantial losses.

BTC Heads South
The start of the business week offered additional gains to the primary cryptocurrency, whose price tapped a new all-time high of over $126,000 on October 6. The bulls, however, could not maintain the momentum, and the valuation has been on a downtrend since then.

A few hours ago, BTC tumbled to as low as $120,700 before rebounding to the current $121,700 (per CoinGecko’s data), representing a 2% decline on a daily scale.

BTC Price, Source: CoinGecko
We have yet to see whether that is a healthy pullback or the beginning of a bearish trend. The massive inflows into spot BTC ETFs and the shrinking amount of coins stored on crypto exchanges suggest the first scenario is more likely.

Following the latest correction, Bitcoin’s market capitalization plunged to approximately $2.42 trillion. Its dominance over the altcoins remains relatively unchanged at around 56.9%.

ETH Loses an Important Resistance Level
The majority of the leading altcoins have followed BTC’s trajectory. Ethereum (ETH) dipped by 5% over the past day and plunged below $4,500. Ripple’s XRP retraced by 4% to $2.86, whereas Solana (SOL) and Dogecoin (DOGE) are down by 2-3%.

You may also like:

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

Bitcoin (BTC) Slips Below $124K, Binance Coin (BNB) Jumps to a New ATH: Market Watch

Bitcoin Smashes Weekly Inflow Records with $3.55 Billion Surge

Plasma (XPL) is the biggest loser from the top 100 club with a daily drop of 11%. World Liberty Financial (WLFI) and Pi Network (PI) come next with dips of 9% and 8%, respectively.

However, some alts remain in green territory. Binance Coin (BNB) is up 6% for the day and trades well above $1,300. As CryptoPotato reported, it has become the third-biggest cryptocurrency after flipping Ripple’s XRP and USDT (the stablecoin issued by Tether). PancakeSwap (CAKE), Mantle (MNT), and Aster (ASTER) have also posted significant gains.

The total market capitalization of the sector has tumbled by 2% over the last 24 hours and stands at roughly $4.27 trillion.

Cryptocurrency Market Overview, Source: QuantifyCrypto

Three Indonesian international schools received bomb threats from an unknown sender, who demanded a ransom of $30,000 worth of BTC sent to the same crypto address.

Summary

Three international schools in Indonesia received fake bomb threats demanding $30,000 in Bitcoin from a number traced to Nigeria.
Authorities found no explosives at any of the schools, and investigations revealed the provided Bitcoin address was invalid, with the suspect still unidentified.

Three international schools in Indonesia were targeted by criminals claiming to have planted a bomb within school grounds. The unknown number sent a broadcasted message to all three schools, demanding ransom money to be sent to them via a Bitcoin (BTC) address.

According to reports from local media, the message was sent by the bomber through WhatsApp from a telephone number which appears to have originated from Nigeria as it bears the code +234. Written in English, the message threatened school staff to pay the bomber $30,000 in BTC or they would set off bombs that they claimed were planted within the school.

“A message for EVERYONE. We have bombs in your school. The bombs are set to go off in 45 minutes if you do not agree to pay us $30,000 to our Bitcoin address,” wrote the bomber in a WhatsApp message shared to the media.

The same message was sent to three schools, one located in North Jakarta while the other two are situated around the outskirts of the city, within the South Tangerang area. The identical messages contained the same BTC address.

“If you do not send the money! We will blow up the device immediately,” wrote the attacker.

Moreover, the unknown sender also warned school officials against calling the police, as they claim that they will set off the bombs immediately if they discover authorities have gotten involved. Despite these threats, the schools called local law enforcement to take care of the bomb threat.

A missing BTC address and a police bomb search
Police officers were dispatched to the three school locations upon receiving reports of a bomb threat. After a thorough search and rescue operation, which involved the police department’s Bomb Disposal Team or Jibom, authorities confirmed that there were no explosives or bombs found anywhere within the three schools.

“We conducted a sweep and secured the area, thank God, but no explosives or bombs or anything similar were found,” said South Tangerang Police Chief AKBP Victor Inkiriwang to reporters.

Kelapa Gading Police Chief, Commissioner Seto Handoko, stated that his team had conducted similar investigations at the North Jakarta Intercultural School, which uncovered no bombs on-site.

“The sterilization results are safe, there are no bombs,” Seto said separately.

As for the attached Bitcoin address, authorities collaborated with a national crypto association and tasked them with tracking down the criminal’s wallet address. On-chain tracking results revealed that the BTC wallet address attached to the messages is invalid and could not be found on any Indonesian crypto exchanges.

At the time of writing, the police have yet to uncover the true identity of the sender and the motive behind the bomb threats. Investigations are still on-going, however no new threats have arisen among other Indonesian schools thus far.

Key NotesFight Fight Fight LLC is reportedly planning a large accumulation of TRUMP meme coin to boost the price rise.Promoter Bill Zanker is seeing renewed attention for the TRUMP token, which is currently trading 90% below its January 2025 peak.Despite market weakness, the token shows signs of renewed activity, with trading volume surging over 100% to $517 million.
The Official Trump (TRUMP) meme coin has been struggling under $10 for quite some time, and is soon to get a $200 million treasury boost. According to the latest Bloomberg report, Fight Fight Fight LLC, the startup behind the TRUMP token, is planning a $200 million fundraising to build a crypto treasury firm, which will accumulate large quantities of TRUMP coin.

Startup Behind TRUMP Meme Coin Eyes $1 Billion Raise
Bill Zanker, a close ally of Trump, is spearheading efforts to raise between $200 million and $1 billion to support the TRUMP meme coin.

Sources familiar with the matter stated that the deal remains in development at this point and may not necessarily proceed. The Official Trump meme coin has been struggling and is trading 90% lower than its all-time high in January 2025. Another Trump family project, World Liberty Financial (WLFI), has also been under selling pressure recently.

Thus, the new digital asset treasury (DAT) firm under consideration by Zanker and his team, marks the latest move to stabilize and boost the token’s price. In May, Donald Trump attended a private dinner with top holders of the token. Ahead of the event, Fight Fight Fight LLC maintained a public leaderboard of leading holders and promoted the competition across social media.

Zanker planned for a Trump-branded digital asset wallet. However, these plans were reportedly delayed after a dispute with another Trump-linked venture, World Liberty Financial (WLF).

Will TRUMP Price Pick Up from Here?
The Official Trump (TRUMP) cryptocurrency token is displaying a significant technical setup on its daily chart. As shown in the image below, the meme coin will gain upside momentum following a breakout from the descending wedge pattern.

Trump meme coin eyes breakout | Source: Bitcoin Daily

The 24-hour trading volume has surged by more than 100% to $517.09 million, representing healthy liquidity relative to the market cap. Moreover, the volume-to-market-cap ratio of 0.28 indicates active trading interest.

The supply of the Trump token remains largely restricted, with only about 35% currently unlocked, according to Messari. This portion gives the token a circulating market value of approximately $1.5 billion.

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.

Meme Coin News, Cryptocurrency News, News

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

7 minutes ago

Ethereum’s validator exit queue has surged to a record $10 billion, but institutional participants, such as Grayscale, are stepping in to replace the exodus.

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Ethereum recorded its largest validator exit on record this week, with more than 2.4 million Ether worth over $10 billion awaiting withdrawal from its proof-of-stake network, but institutional participants are stepping in with billions in the validator entry queue.

Ethereum’s exit queue surpassed 2.4 million Ether (ETH) worth over $10 billion on Wednesday. The spike in exits extends the validator queue time to more than 41 days and 21 hours, according to blockchain data from ValidatorQueue.com.

Validators are responsible for adding new blocks and verifying transactions on the Ethereum network, playing a critical role in its operation.

Ether validator queue. Source: validatorqueue.com$10 billion Ethereum exit queue raises sell pressure concernsThe surge in pending withdrawals has sparked renewed concern over potential sell pressure for Ether holders.

While this does not mean that all validators are looking to take profit, a significant amount of the $10 billion may be sold, considering that Ether’s price has risen 83% over the past year, according to Cointelegraph’s price index.

ETH/USD, one-year chart. Source: CointelegraphAdding to the concerns about selling pressure, the validator exit queue is approximately five times larger than the Ethereum entry queue, which currently holds over 490,000 Ether set to be staked, with a wait time of eight days and 12 hours.

Ethereum entry queue versus exit queue. Source: validatorqueue.comWhile short-term selling pressure concerns persist, the $10 billion withdrawal does not threaten the Ethereum network’s stability, which still boasts over one million active validators staking 35.6 million Ether, or 29.4% of the total supply.

The development comes a day after Grayscale staked $150 million in Ether on Tuesday, following the crypto-focused asset manager’s introduction of staking for its Ether exchange-traded products, making it the first US-based crypto fund issuer to offer staking-based passive income for its funds.

On Wednesday, Grayscale deposited another 272,000 Ether worth $1.21 billion into the staking queue, meaning that the company accounts for “the majority of coins currently awaiting staking activation,” according to onchain analyst EmberCN.

Source: EmberCNDespite the ballooning validator exits, Ether’s momentum continues to be driven by institutional inflows via exchange-traded funds (ETFs) and corporate treasuries, Iliya Kalchev, dispatch analyst at digital asset platform Nexo, told Cointelegraph:

“Institutional and corporate treasuries now hold over 10% of ETH’s total supply, while October ETF inflows have already exceeded $620 million.”“The data reflect Ethereum’s evolution into a yield-bearing, institutionally recognized asset used both for infrastructure and collateral purposes,” he added.

Magazine: How Ethereum treasury companies could spark ‘DeFi Summer 2.0’

TLDR:

CleanCore Dogecoin Treasury now holds over 710M DOGE with $20M in unrealized gains since its September launch.
The firm raised $175M in private placement to accelerate its one-billion Dogecoin accumulation plan.
Bitstamp by Robinhood powers CleanCore’s Dogecoin Treasury trades under a new strategic alliance.
House of Doge is driving new Dogecoin utility programs for long-term ecosystem stability and adoption.

CleanCore Solutions has strengthened its Dogecoin Treasury after a month of steady accumulation. The company said its current holdings exceed 710 million DOGE, putting it closer to its target of one billion coins. 

Backed by the Dogecoin Foundation and its corporate partner House of Doge, the Treasury has already recorded more than $20 million in unrealized gains. The update reflects growing institutional involvement around Dogecoin’s expanding role as a utility-driven digital asset.

CleanCore Expands Dogecoin Holdings with Bitstamp Partnership
According to CleanCore’s latest press release, the Treasury’s buildup follows a $175 million private placement completed on September 5, 2025.

The company explained that proceeds were used to fund the disciplined purchase of Dogecoin, with Bitstamp by Robinhood serving as its official trading venue. This alliance was formed to ensure transparency and compliance while securing the Treasury’s growing asset base.

CleanCore CEO Clayton Adams said the accumulation process aligns with the long-term strategy of the House of Doge, which seeks to position DOGE as both a transactional and reserve asset. 

The company stated that its focus extends beyond short-term valuation, targeting sustainable market capitalization growth relative to net asset value.

The Treasury program, launched just a month ago, continues to build momentum. Insiders and House of Doge affiliates hold most of the registered shares, which remain restricted or locked up as the firm works with regulators to process registrations.

Dogecoin Price Trends as Treasury Grows
At press time, Dogecoin traded at $0.2478 with a 24-hour volume of $3.76 billion, according to data from CoinGecko. Prices declined 4.85% in the last day but gained 3.17% across the past week.

Dogecoin price on CoinGecko
Market watchers such as @BullRunnner77 noted DOGE’s current technical setup, mentioning a possible bullish triangle and a nearing two-day golden cross. Historical patterns show such formations often precede large price surges, but analysts caution that retail sentiment remains uncertain.

CleanCore’s ongoing accumulation comes as Dogecoin’s ecosystem looks to unlock new use cases through the House of Doge initiative. The firm said it aims to develop yield-bearing opportunities through professional treasury governance while maintaining transparency in its operations.

Key NotesAnalysts expect a strong bull run for Sei, similar to Sui in 2024.Sei is still down by 75% from its ATH of $1.14.The asset’s price chart shows a double-bottom formation.
Sei

SEI
$0.28

24h volatility:
5.3%

Market cap:
$1.73 B

Vol. 24h:
$177.44 M

, the native token of the purpose-built layer-1 blockchain built for trading applications, is seeing expectations of a strong bull run.

Ali Martinez, a well-known crypto analyst, pointed out the similarities between SEI and Sui

SUI
$3.48

24h volatility:
3.2%

Market cap:
$12.61 B

Vol. 24h:
$1.25 B

price charts in an X post on Oct. 8.

$SEI is starting to look like $SUI in 2024! Get ready for a massive bull run. pic.twitter.com/Qpi1zdDWXO

— Ali (@ali_charts) October 8, 2025

Martinez says that SEI’s chart pattern looks very similar to SUI’s 2024 momentum, when SUI recorded a massive rally from around $0.75 in January 2024 to an all-time high of $5.35 on Jan. 6, 2025.

Another analyst, who goes by Mister Crypto, showed the double-bottom formation on the SEI s price chart between May 2024 and June 2025.

Textbook double-bottom on $SEI.

A breakout is imminent! pic.twitter.com/pwGpUrSOLl

— Mister Crypto (@misterrcrypto) October 7, 2025

Historically, this formation is similar to what pushed the SUI price.

Two Different Stories
Sui brought huge attention to the layer-1 space as it offered a highly scalable development platform. In simple terms, it is a low-cost blockchain designed to make it easy for anyone to create and use apps, games, and digital assets that run smoothly and securely.

On the other hand, Sei’s application is more niche. The blockchain is built to power trading-focused apps, which give users faster transactions and lower fees for decentralized finance and exchange activity.

Last month, Sei joined forces with Crypto.com exchange and Chainlink for institutional-grade custody and to bring the US government economic data on-chain.

SEI is currently trading at $0.28 with a market capitalization of $1.72 billion. The altcoin would need to reach a market cap of at least $12 billion to match the SUI price rally.

While the technical and fundamental patterns look bullish for SEI, it’s also very important to keep an eye on the macro scene due to its high impact on financial markets.

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.

Cryptocurrency News, News

Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.

Wahid Pessarlay on X

Bitcoin ETFs are still holding strong, continuing their trend of inflows despite the recent dip in the asset’s price.

Summary

Bitcoin price has dipped to $122,200, retreating from a $126,198 high amid fresh selling pressure.
U.S.-listed Bitcoin ETFs are still recording inflows, pulling a total of $875.6 million on Oct. 7.
Despite the pullback in price, BTC remains bullish, with support at $120,000 and RSI cooling to 63.35 after nearing overbought levels.

Bitcoin ETFs have posted another day of inflows, recording a total of $876.5 million during the latest trading session on October 7. This marks the seventh consecutive day of gains for the funds, adding to the $4.43 billion attracted over the past six days amid Bitcoin’s recent rally.

Data from SoSoValue shows that BlackRock’s IBIT made up the lion’s share with $899.4 million, followed by Valkyrie’s BRRR with a far more modest $4.8 million. Grayscale’s GBTC offset the positive figures with roughly $28.6 million in outflows, marking the only fund with withdrawals.

Meanwhile, the rest of the eight funds, including Fidelity, Invesco, and Bitwise, posted no net activity. The latest performance suggests that profit-taking is already picking up among institutional investors, along with broader cooling as the asset’s price retreats from the month’s peak.

Bitcoin price drops on daily chart
At the time of writing, the flagship cryptocurrency trades at $122,392, down 1.5% over the past 24 hours, per crypto.news data. The decline follows a near two-week rally that began from the $108,000 region. Today’s bearish candle reflects hesitation around the $124,000 resistance level, where BTC (BTC) faced rejection before sliding lower.

Despite the retreat, indicators suggest the correction is healthy. The RSI, which recently peaked above 70, has now cooled to 63.35, showing that momentum is resetting. Volume has also declined, indicating the sell-off lacks strong conviction.

Bitcoin price chart | Source: crypto.news
Meanwhile, the MACD remains in bullish territory, with the histogram still widening and the MACD line comfortably above the signal line. So long as Bitcoin holds above $120,000, the broader structure stays bullish, and the market may simply be consolidating before another move up.

However, if the price breaks below $119,500, a deeper pullback toward $116,000–$117,000 could unfold, which served as a base during the last consolidation. On the upside, reclaiming $124,000 could reignite bullish momentum toward $126,000–$128,000.

21Shares reported that Solana generated more than $2.8B in annual revenue, surpassing Ethereum's.

Journalist

Posted: October 8, 2025

Key Takeaways
Why are analysts bullish on BTC in Q4 2025 and early 2026?
U.S. fiscal debt and policy concerns could fuel BTC and other safe havens. 

What’s the most conservative BTC price target? 
There was a 77% chance of hitting $130K this year. 

Bitcoin [BTC] printed another ATH (all-time high) above $126K on the 6th of October. The cryptocurrency had cooled off to $122K as of the time of writing.

Still, the market was pricing a 77% chance of rallying to $130K. 

Source: Polymarket

According to analysts, the ongoing investor interest in gold, silver, and Bitcoin, the so-called ‘debasement trade,’ could boost the crypto asset.  

The ‘debasement trade’ effect
The term was first introduced by JPMorgan analysts, who noted that investors were growing increasingly concerned about U.S. fiscal policy and rising debt levels. 

In response, many began turning to traditional safe-haven assets to hedge against exposure to the U.S. dollar.

Gold, in particular, has surged since August, jumping 11% in September following a 25 basis point rate cut by the Federal Reserve. It has since added another 3% and is now approaching the $4,000 mark. 

This rally highlights deepening investor anxiety over the state of the U.S. economy and its fiscal outlook.

In a recent Bloomberg interview, Ken Griffin, founder of hedge fund Citadel, called it the ‘de-dollarizing’ from U.S. risk. 

“We’re seeing substantial asset inflation away from the dollar as people are looking for ways to effectively de-dollarize, or de-risk their portfolios vis-a-vis U.S. sovereign risk.”

In most cases, BTC always lags behind gold rallies, but tends to play catch-up later on. 

Another macro data set that supported a potential BTC surge was the rising bond yields.

These are interest rates paid by the U.S. government on its borrowed loans. A rate spike always flags investor uneasiness with the government’s overall policy direction. 

Source: Streno Research

That said, some analysts believe that President Donald Trump will replace Fed chair Jerome Powell in early 2026 to help manage the bond yields. But a potential investor flight from such a move could lift BTC and gold higher. 

In fact, Galaxy’s Mike Novogratz projected that the crypto asset could explode to $200K if Powell is replaced with a more dovish nominee in early 2026. 

In the near-term, however, the Swissblock analysts forecast a likely BTC consolidation above $117K-$120K, before extending the rally. 

“What is the key this week? Hold structure, cool momentum, and build the base for Q4 expansion.”

Source: Swissblock

Key points:

Bitcoin price action stays lower after falling over 4% in hours.

Liquidity is already recovering, with short-term volatility increasingly likely as a result.

BTC price predictions see a local bottom forming as low as $114,000.

Bitcoin (BTC) struggled to reclaim $122,000 on Wednesday as exchange users bet on fresh BTC price volatility.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Bitcoin tracks sideways after all-time high tumbleData from Cointelegraph Markets Pro and TradingView showed BTC/USD consolidating after a snap 4.2% correction the previous day.

This had been broadly expected given successive all-time highs without serious upward momentum.

As Cointelegraph reported, rapidly increasing open interest (OI) on derivatives markets had added to suspicions that Bitcoin could retrace a chunk of its recent upside.

Exchange Bitcoin futures OI (screenshot). Source: CoinGlass“Very efficient price action tbh hence the low volatility thus far,” trader Skew commented in an X post Tuesday as the correction took shape.

Skew subsequently noted “predatory” behavior by large-volume traders on exchange order books.

Clear PvP -> Predatory price action on-going here via binance market on $BTC

spoofing on the ask aka above price on spot
spoofing on the bid aka below price on perps

How the predatory strategy works?
Aim is to temporarily hold or lift price via perps & then push market lower by…

— Skew Δ (@52kskew) October 7, 2025
Overnight, however, liquidity began to flow back into the market, with data from CoinGlass showing thickening bid-side and ask-side liquidity at the time of writing.

BTC liquidation heatmap. Source: CoinGlassSkew suggested that a “consolidation range” may result.

BTC price support puts $114,000 back in focusOthers considered where BTC/USD could put in a reliable local floor, warning that this may be significantly below the current spot price.

“Between $121K–$120K there isn’t much support, which means price can cut through quickly if selling picks up,” trader ZYN reported on X

“But just below, around $117K, nearly 190K BTC were last bought. That’s a heavy cluster of recent buyers.”Bitcoin cost basis distribution heatmap. Source: ZYN/XZYN used the cost basis of recent buyers to predict where demand should shore up the price. 

“If we get a pullback into that range, it’s the kind of zone where demand usually shows up strong buyers defending their entries, new capital stepping in. In short: weak cushion at $121K, but a very real floor forming at $117K,” he concluded.

Using its proprietary trading signals, trading resource Material Indicators also flagged $120,000 support, but said that a stronger foundation for a bounce lay at $114,000, near Bitcoin’s 50-day simple moving average (SMA).

BTC/USD one-day chart. Source: Material Indicators/XFor crypto trader, analyst and entrepreneur Michaël van de Poppe, the next buy zone extended down to $118,000.

“Bitcoin made a new all-time high, which is often a reference for people to be taking profits,” he reasoned. 

“Slight pullback and we're approaching my personal area of interest for potential dip buying.”BTC/USDT one-day chart with trading volume, RSI data. Source: Michaël van de Poppe/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

In Brief

YZi Labs unveils $1B Builder Fund to accelerate innovation across the BNB ecosystem.

EASY Residency Season 2 expands globally, offering $500K funding and mentorship access.

BNB Chain hits 26M daily transactions as network upgrades boost speed and adoption.

YZi Labs has launched a $1 billion Builder Fund to accelerate innovation and support long-term founders within the BNB ecosystem. The initiative focuses on sectors such as DeFi, AI, DeSci, payments, and real-world assets, leveraging BNB Chain’s scalable and low-cost infrastructure.

The fund aims to provide developers with enhanced tools, funding, and integrations across BNB’s 460 million user network. It also reinforces YZi Labs’ mission to integrate Web3, AI, and biotech advancements into practical solutions that drive global digital transformation.

YZi Labs (formerly Binance Labs) announced a $1B Builder Fund to double down on founders in the BNB Ecosystem, especially on BNB Chain. The fund will support BNB-based innovation through capital, tools, integrations, and its 460 million-user ecosystem, focusing on areas such as…

— Wu Blockchain (@WuBlockchain) October 8, 2025

BNB Chain continues to reach new milestones, recording 26 million daily transactions and ranking first in decentralised exchange trading volume. The network’s Maxwell Hardfork improved block speeds to 0.75 seconds and reduced transaction fees to 0.05 Gwei, boosting adoption.

EASY Residency Expands Global Reach and Builder Support
The Builder Fund coincides with the launch of EASY Residency Season 2, designed to expand programs in New York, San Francisco, Dubai, and Singapore. It incorporates the Most Valuable Builder (MVB) initiative, offering up to $500,000 in funding and direct access to YZi Labs’ global network.

Ella Zhang, Head of YZi Labs, said the BNB ecosystem represents the next phase of digital infrastructure, combining decentralization and scalability. She emphasised that the $1 billion fund will empower founders building open, secure, and human-centred technological systems.

Applications for the EASY Residency and MVB Track are now open on a rolling basis for global innovators. The joint program aims to strengthen collaboration between builders, investors, and mentors, supporting the next wave of products in the BNB ecosystem.

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.

10h05 ▪
5
min read ▪ by
Fenelon L.

Summarize this article with:

Despite a correction of more than 4% after a historic peak at $126,219, bitcoin maintains a solid bullish momentum, supported by robust institutional fundamentals. Massive flows to ETFs and renewed Wall Street confidence paint the picture of a maturing market. From Citibank to JPMorgan, the giants of American finance now anticipate a rise to $150,000 by December.

In brief

Bitcoin lost 4.2% on Tuesday after its historic peak of $126,219, a normal technical consolidation after a weekly gain of 12.5%.
Bitcoin ETFs recorded record weekly inflows of $3.55 billion, bringing assets under management to $195.2 billion.
BTC reserves on exchange platforms have dropped to their lowest level in five years, signaling continued investor accumulation.
Citibank and JPMorgan respectively project $181,000 and $165,000 for Bitcoin in the next 12 months.

Strong decline in Bitcoin despite solid bullish signals
The bitcoin price recorded a 4.2% correction on Tuesday, after reaching a new historic high the day before. This decline occurs amid growing global economic uncertainty.

However, far from reflecting weakness, the derivatives data reveal a surprisingly healthy market structure. Professional traders are not rushing into excessively leveraged positions, which paradoxically is a positive sign.

Monthly futures contracts on bitcoin hold an annualized premium of 8% compared to spot markets. This range, between 5% and 10%, corresponds to a balanced market. 

During periods of excessive euphoria, this spread climbs above 20%. Conversely, bearish phases push it below 5%, even into negative territory. The current moderation suggests that the recent rise is not based on runaway speculation.

This caution in derivative markets provides a valuable safety cushion. It limits the risk of cascading liquidations if prices continue to fall. More importantly, analysts believe that the rebound since testing $109,000 at the end of September relies on real capital flows rather than speculative leverage.

Open interest on futures contracts currently reaches $72 billion. Despite a slight 2% decline since Monday, this volume remains solid. A deep and liquid derivative market is a crucial prerequisite to attract hedge funds and institutional asset managers to bitcoin.

Institutions accumulate while available supply evaporates
Institutional adoption of bitcoin is reaching new milestones. Spot exchange-traded products (ETFs) recorded weekly net inflows of $3.55 billion, pushing assets under management to $195.2 billion. 

Weekly net flows of ETFs and ETPs by asset, expressed in millions of dollars. Source: CoinShares
For comparison, all investment products indexed to silver — notably ETFs like iShares Silver Trust — represent about $40 billion in assets under management. A contrast that highlights the scale shift between traditional precious metals and bitcoin.

Major American banks have radically changed their stance. Citibank forecasts $181,000 in its base scenario for the next 12 months, with an optimistic scenario at $231,000. 

JPMorgan considers bitcoin undervalued and believes it should already trade around $165,000 if compared to gold. These forecasts rely on the “Debasement Trade” strategy, a bet on the depreciation of national currencies amid growing public debt accumulation.

Companies continue their strategic accumulation. Firms like Strategy and Metaplanet keep buying BTC as a reserve asset. These moves strengthen bitcoin’s status as an independent asset class.

Moreover, bitcoin reserves on exchange platforms have dwindled to their lowest level in five years. Glassnode estimates these balances at 2.38 million BTC, down from 2.99 million one month ago. 

This decline of about 600,000 BTC indicates massive accumulation. Less bitcoin available for immediate sale mechanically means increased upward pressure on prices.

Evolution of Bitcoin balance held on exchange platforms. Source: Glassnode
A high-tension end of the year
 Trading volumes remain at exceptionally high levels, proof of sustained interest. American ETFs daily trade about $7 billion, a 200% increase year over year. 

On platforms like Coinbase and Binance, volumes reach $70 billion per day, up 130%. Even the Bitcoin network records $22 billion in direct daily exchanges, with approximately 500,000 transactions.

Geographical adoption is expanding rapidly. Spanish bank BBVA, managing $900 billion in assets, has integrated bitcoin trading into its mobile app. In Russia, the Moscow exchange advocates lifting restrictions to open BTC purchasing to individuals, as part of a strategy to develop alternatives to the SWIFT network.

The current technical consolidation does not undermine the underlying bullish momentum. On the contrary, it helps clean the market by eliminating fragile positions. The longer bitcoin holds sustainably above $120,000, the stronger investor conviction becomes. Fundamentals remain intact: record institutional adoption, tightening supply, stable derivative market, and big bank support.

In short, the $150,000 milestone is no longer a fantasy. It is now a credible target that bulls actively aim for by the end of the year. The question is no longer “if” but “when.”

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Fenelon L.

Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.