Market Signal Briefing

Three wallets suspected to be owned by hackers converted $38 million worth of DAI stablecoins into Ethereum on Wednesday between 6:00 AM and 7:00 AM UTC, according to data from Lookonchain and Arkham Intelligence.

The “hacker” wallets executed several transactions in DAI and swapped them for Ethereum at an average price of $4,401 per coin. Lookonchain’s onchain records screenshots show the trades were routed through decentralized exchanges using CoW Protocol and Convex Protocol, platforms that facilitate large swaps fast with reduced slippage and fees.

Hackers make coordinated swaps through CoW and Convex protocols
According to records from Arkham Intelligence, the hackers did not convert all their DAI holdings in one move, but exchanged stablecoins for ETH in increments of up to $12 million. Analysts believe they were trying to reduce slippage and avoid raising suspicion on-chain while repositioning illicit funds.

Hackers are buying $ETH!

3 wallets (likely belonging to hackers) spent 38M $DAI to buy 8,637 $ETH at $4,401 7 hours ago.https://t.co/wSLJN03zPKhttps://t.co/eCQVmuzJ1Zhttps://t.co/Gwz5p6HOuH pic.twitter.com/7GGUebSqXl

— Lookonchain (@lookonchain) October 2, 2025

One of the addresses, beginning with 0x4Ee3, was seen liquidating more than $11 million worth of DAI into ETH within the one-hour window. The wallet sent 2,730 ETH valued at $12 million to a separate address while conducting smaller swaps in parallel.

The transactions included two large outflows of 4 million DAI and 5 million DAI, which were swapped for 906 ETH and 1,133 ETH, respectively. Another transfer included 2.5 million DAI exchanged for 567 ETH, before all the accumulated Ether coins were forwarded to new address 0xA0168e…B89faCb6, now currently worth $14 million at current prices.

A second wallet, beginning with 0x1c4, liquidated 521,000 DAI, 4 million DAI, and 5 million DAI, followed by a final conversion of 12.12 million DAI into 2,761 ETH. All of these funds were later consolidated and sent to other addresses, again routed via the CoW Protocol contracts. 

The largest of the three wallets, beginning with 0x272c, handled over $26.6 million in transactions during the same early morning period. 

Lookonchain’s screenshot showed the address swapped its holdings via Convex Protocol and converted 5 million DAI into 1,135 ETH. They later made a 12.12 million DAI swap, yielding 2,761 ETH. In total, the address accumulated 2,761 ETH worth $12.15 million, which was then sent to a wallet linked to the first address, 0x4Ee3.

The timing, size, and routing of the trades strongly suggest the three wallets were acting in tandem, breaking up the $38 million DAI liquidation into pieces to reduce visibility. In total, the wallets converted 8,637 ETH valued at approximately $38 million.

Blockchain analysts monitoring the flows say the activity fits the pattern of actors seeking to obscure the origins of illicit funds by splitting swaps into multiple tranches. But according to one user on X, the hackers could be banking on the Uptober market rally that has shot Ether’s price 13% up from its weekly lows, according to CoinGecko.

Ethereum price rebounds to $4,400 at October’s start
Ethereum was trading at $4,464 early Friday morning, hovering near its recent high of $4,529. Market analysts point to strong inflows into Ethereum exchange-traded funds (ETFs) as a stabilizing factor.

Nine US-listed ETH funds recorded inflows of 14,864 ETH, worth $65.6 million this business week. These institutional purchases may have helped absorb selling or deterred bears pushing for a downward volatility spiral.

Ethereum recently rebounded from a low of $3,900 on September 26, a level some traders are now calling a potential market bottom of the year 2025. Patterns known as the “Power of 3” suggest the possibility of an 80 to 100 percent price increase by the end of the year.

TradingView’s market analysis suggests that Ethereum is in a neutral-to-bullish zone, supported by a level at $4,200 and resistance at $4,600. The Relative Strength Index (RSI) stands at 43.1, indicating neutral strength but no signs of being overbought or oversold. 

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Bitcoin option investors are making 'light' call option bets, indicating cautious optimism for a rally.A rise in call options for $300,000 suggests that investors are buying 'cheap convexity.'An analyst predicts an October price range of $122,000-$149,000, based on historical patterns.Bitcoin option investors are taking modest long positions after the asset’s price broke above $120,000, signaling that while there is optimism for an increase, it is not a strong conviction.

Glassnode shared this market sentiment on Friday via a post on X, complete with on-chain data.

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A Bet on ‘Uptober’ in BTC Option MarketAccording to the firm’s post, Bitcoin options flows are clustering between the $100,000 and $120,000 strike prices, with only light call interest observed at $130,000.

This indicates two key developments in the Bitcoin options market. First, there is increased activity in call options within the $100,000–$120,000 range, suggesting that traders are positioning for potential upside beyond $100,000.

A call option gives the holder the right to buy an asset at a specific price, so elevated interest in this range typically reflects bullish sentiment or hedging against a significant price rally.

However, the relatively low volume of call options at $130,000 shows that expectations for a move far beyond $120,000 remain limited, at least for now. In other words, while there is optimism in the market, it comes with measured conviction.

BTC Options Net Premium Strike Heatmap. Source: GlassnodeSponsored

The second phenomenon is an increase in very long-term call options in the $300,000 range. Out-of-the-Money (OTM) options are those with a strike price well above the current price. The $300,000 level Glassnode mentioned is a very high price range compared to Bitcoin’s current price of around $120,000.

This rising investor interest in these ultra-high-priced call options can be interpreted as “cheap convexity bets.” Convexity is a structure where profits increase dramatically as the price rises. In other words, investors are taking a strategic position to gain massive returns with a small investment in the event of a huge Bitcoin price surge.

These moves are not a firm directional bet that Bitcoin’s price will actually rise to $300,000. Instead, they show that a strong sentiment-driven desire to gain exposure to potential upside is driving the market.

Meanwhile, the Ethereum options market shows a completely different pattern. A large number of traders are selling ETH puts set to expire on October 10 and BTC $120,000 calls, preparing for continued consolidation in Ethereum’s price.

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This strategy allows traders to collect premiums by betting that neither asset will see a significant, short-term price increase. With Bitcoin’s dominance growing in the options market, much of the activity is shifting away from Ethereum.

A Historical Look at Bitcoin’s OctoberSo, how high can Bitcoin’s price go? Bitcoin analyst Timothy Peterson addressed this question in a post on X, where he used historical data to forecast a potential price range for BTC in October.

“Bitcoin’s performance in October isn’t “set up” by September, its set up throughout the entire year,” the analyst said.

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He explained that while Bitcoin has historically been strong in October, the strength of its rally is heavily influenced by the momentum of the first nine months of the year. The price increase from January to September determines the intensity of that year’s “Uptober.”

Bitcoin in October. Source: Timothy PetersonA chart comparing the January-to-September returns with October returns since 2015 shows that Bitcoin has historically amplified its preceding momentum. When year-to-date returns are high, October sees a bigger rally; when they are weak, October remains subdued.

In 2025, the January-to-September return was about 20%, marking the weakest bull market year on record. The data suggests October may deliver a weaker performance than in previous years.

Timothy Peterson said that from a historical perspective, the expected price range for this October’s rally is +7% to +31%. This would translate to a price range of $122,000 to $149,000.

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Crypto.com, a leading cryptocurrency exchange, has entered into a strategic partnership with SOL Strategies Inc. (CSE: HODL) (Nasdaq: STKE), a publicly traded Canadian company focused on the Solana (SOL) ecosystem. 

The collaboration will see SOL Strategies diversify its custody operations by using Crypto.com Custody for part of its treasury, while also making its validator services available to Crypto.com’s institutional custody clients.

— Crypto.com (@cryptocom) October 2, 2025

Treasury custody solutions and enhanced validator access
As part of the agreement, SOL Strategies will integrate its enterprise-grade validator services into Crypto.com’s custody platform. This gives institutional clients access to Solana validator infrastructure while SOL Strategies strengthens its own treasury management through Crypto.com Custody.

“Public companies building out their digital asset treasury require a safe, secure, and compliant custody solution and reliable staking options,” said Eric Anziani, President and Chief Operating Officer of Crypto.com. “We are pleased to partner with SOL Strategies not only to provide them with trusted treasury custody solutions, but also to enhance our validator network.”

Michael Hubbard, Interim CEO of SOL Strategies, added: 

“This partnership validates our position as an institutional-grade Solana infrastructure provider. By making our validators available through Crypto.com’s custody platform, we’re expanding access to our proven validator services while prudently diversifying our own treasury custody operations, said Michael Hubbard, Interim CEO of SOL Strategies. “This dual benefit reflects our DAT++ model, we’re simultaneously a significant infrastructure provider and a strategic treasury holder in the Solana ecosystem.”

Featured image via Shuttertsock. 

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Donald Trump Jr. recently took a strong stance against criticisms surrounding potential conflicts of interest related to World Liberty Financial (WLFI), the cryptocurrency venture associated with his family. 

At the Token2049 conference in Singapore, he dismissed concerns that investors in the firm might be trying to curry favor with the Trump administration as “complete nonsense.”

WLFI Leaders Insist Political Connections Are Overstated
During his interview with CNBC at the event, Trump Jr. emphasized the improbability of his father, President Donald Trump, or Zach Witkoff’s father, Steve Witkoff, examining blockchain ledgers to identify investors and determine any preferential treatment. 

“I don’t think anyone actually believes that my father or [Zach’s] father would be looking at ledgers on the blockchain to see who bought what, and that carrying any kind of favor,” he stated, reinforcing his view that such allegations were unfounded.

As a co-founder of World Liberty Financial, Trump Jr. was joined at the event by CEO Zach Witkoff, who has ties to the Trump administration as the son of the former US Special Envoy to the Middle East. 

Witkoff echoed Trump Jr.’s sentiments, asserting that their business mission is significant, but their fathers’ political agendas are far larger. “They’re not focused on stablecoins, nor are they involved in a stablecoin business,” he added, seeking to further distance their venture from political ties.

‘Unprecedented Conflict’ Tied To World Liberty Financial
Despite the firm’s efforts to establish itself in the cryptocurrency market, critics have raised alarms over its connections to the Trump administration, particularly as it seeks international partnerships and expands into areas like debit payments and tokenized assets. 

During their keynote address at the conference, both Trump Jr. and Witkoff sought to downplay any political implications, asserting that their company is “100% not a political organization.”

While World Liberty Financial’s website states that a Trump-affiliated entity, DT Marks DEFI LLC, and members of the Trump family receive a substantial share of the platform’s revenue and hold WLFI tokens, it also clarifies that Donald Trump and his family do not occupy any formal roles within the company or its affiliates.

The ongoing scrutiny of the World Liberty Financial platform comes at a time when President Donald Trump has publicly embraced the cryptocurrency industry during his second term, rebranding himself as a “crypto president.” 

In light of these developments, Democratic lawmakers, including Senators Elizabeth Warren and Maxine Waters, have called for investigations into World Liberty Financial, characterizing the company’s connections to the president as an “unprecedented conflict” that could influence crypto policy.

The 1-hour chart shows WLFI’s price recovery. Source: WLFIUSDT on TradingView.com
When writing, WLFI trades at $0.20, recording gains of 7% in the weekly time frame. Yet, the token’s price is still 37% below its $0.33 record reached right after its September 1st debut. 

Featured image from NBC, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

The crypto market is showing signs of a major shift toward altcoins, with charts hinting at the start of a possible “altcoin season.” A leading crypto analyst, Trader Tardigrade, highlights the TOTAL3 index, which tracks altcoins excluding Bitcoin and Ethereum, forming one of the clearest bullish setups in years. 

If confirmed, it could push the altcoin market cap to $4.37 trillion, a nearly 290% surge.

This Classic Chart Pattern Could Trigger Altcoin SeasonAccording to the Trader Tardigrade, the weekly TOTAL3 chart is showing a textbook “Cup & Handle” pattern, one of the clearest bullish setups in years. This pattern usually shows the market may rise after a pause.

The cup formed over several years, starting from the 2021 highs around $1.13 trillion, dropping to the 2023 bear market low of $0.287 trillion, and then climbing back to the 2024 highs near $1.16 trillion. 

Now, in 2025, the handle is forming just below key resistance, setting up a potential breakout. If the breakout happens, the altcoin market could surge to $4.37 trillion, a nearly 290% increase from current levels. 

Such growth would indicate a strong altcoin season, where altcoins as a group could outperform Bitcoin and Ethereum.

Bitcoin Dominance Drops, Capital Rotates to AltcoinsOne of the clearest signals for the altcoin season is Bitcoin’s dominance falling below 59%, showing that investors are moving capital from Bitcoin into altcoins. While Bitcoin stays strong above $120,000, smaller crypto projects are attracting more attention and liquidity. 

Analysts also note that the altcoin market has been in an unusually long accumulation phase, longer than before the 2017 and 2021 altcoin seasons. 

Top Coins Poised For RallyAccording to Tardigrade, some leading altcoins, including SOL, XRP, ADA, Doge, Shib, etc, are likely to benefit the most from this rally.

6/
So what’s at stake?
TOTAL3 heading to ~4.37T = nearly +290% growth in alts from current levels.
That kind of expansion implies:
•Large caps (SOL, XRP, ADA) → strong rallies
•Meme coins (DOGE, SHIB) → explosive moves
•Mid/small caps → potential 3–5x plays

— Trader Tardigrade (@TATrader_Alan) October 3, 2025 Meanwhile, Solana (SOL), trading around $231, could lead the major coins, with a potential rise toward $1,000 if momentum and ecosystem growth continue. Dogecoin (DOGE), at $0.253, may trigger retail-driven rallies, possibly reaching $1.50 during a peak altcoin cycle.

On top of it, smaller and mid-cap altcoins could see 3–5x gains, echoing historical patterns where capital shifts from Bitcoin and Ethereum into altcoins during market surges.

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The daily inflow streak for BlackRock's IBIT surpassed $1 billion on Thursday, contributing to a $2.25 billion run across all Bitcoin ETFs.

Key points:

Bitcoin futures buy volume indicates that traders are becoming increasingly long-term bullish on BTC this month.

The $110,000 “gap” in CME Group’s Bitcoin futures remains unfilled.

Bitcoin ETF options experience a spike in popularity as IBIT open interest nears $40 billion.

Bitcoin (BTC) derivatives traders are flipping “aggressively long” as price squeezes closer to all-time highs.

In a new analysis released on X Friday, J. A. Maartunn, a contributor to the onchain analytics platform CryptoQuant, revealed a significant shift in Bitcoin futures in October.

Bitcoin futures buy volume surges in OctoberBitcoin futures markets are undergoing a transformation in sentiment as October gets underway.

As Maartunn showed, net buy volume has surged, and is now outpacing net sell volume by $1.8 billion.

“Futures buyers are stepping up,” he commented alongside a CryptoQuant chart of net taker volumes on largest crypto exchange Binance.

Bitcoin net taker volume (Binance). Source: Maartunn/XThe post was a response to observations by CryptoQuant CEO Ki Young Ju, who noted that Bitcoin’s latest local highs came on the back of sustained buy momentum among derivative-market whales.

“A clear sign of aggressive long positioning,” Maartunn added.

Just days ago, futures markets were hitting the headlines for the opposite reason. 

A weekend “gap” left in CME Group’s Bitcoin futures had become a new short-term BTC price correction target for traders, lying just above $110,000, per data from Cointelegraph Markets Pro and TradingView.

CME Group Bitcoin futures one-hour chart with gap highlighted. Source: Cointelegraph/TradingView
Despite gaps being filled within weeks or days in recent months, sellers failed to initiate a deep enough retracement this week.

As Cointelegraph reported, plans are afoot at CME to make Bitcoin futures trade around the clock, removing the “gap” phenomenon.

Bloomberg analyst: Bitcoin ETFs are “no joke”The US spot Bitcoin exchange-traded funds (ETFs), meanwhile, took in more than $600 million during Thursday’s Wall Street trading session.

US spot Bitcoin ETF netflows (screenshot). Source: Farside InvestorsWith the week’s total at $2.25 billion at the time of writing, ETF data continued to surprise.

In an X post Friday, James Check, creator of onchain data resource Checkonchain, flagged surging growth in options on the largest spot ETF, BlackRock’s iShares Bitcoin Trust (IBIT).

“The growth of IBIT options is the least discussed, but most significant markets structure shift for Bitcoin since the ETFs themselves,” he argued. 

“Not only did IBIT surpass Deribit, but Options are now larger then futures by open interest.”Bitcoin options open interest dominance. Source: James Check/XEric Balchunas, a dedicated ETF analyst for Bloomberg, initially reported on IBIT surpassing Coinbase’s Deribit, with the former’s open interest now at $38 billion.

“I told y’all ETFs are no joke.. Fat crypto margins in trouble,” he concluded.

IBIT vs. Deribit Bitcoin options open interest. Source: Eric Balchunas/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 a wide-ranging interview with Anthony Pompliano published on October 2, Jeff Park, partner and Chief Investing Officer at ProCap BTC, argued that gold’s surging price and shifting global ownership patterns are not a threat to Bitcoin—but potentially the catalyst for its next structural leg higher. Park’s thesis centers on flows, geopolitics, and balance-sheet mechanics: if policymakers and large allocators learn to tap the paper gains embedded in sovereign gold holdings, they could redirect a meaningful slice of that liquidity into Bitcoin and ignite what he repeatedly framed as a supercycle.

Why Gold’s Rally May Trigger A Bitcoin Supercycle
“The math is pretty simple,” Park said. “What if we find a way to unlock the ability to build leverage on the paper gains of gold to take a call option on Bitcoin? There’s something incredible here that could happen.” In his back-of-the-envelope scenario, “a trillion dollars of Bitcoin is actually hugely impactful for the bitcoin market.” He contrasted the magnitude of such an impulse with the size of the US fiscal problem, suggesting that while a trillion dollars is small relative to public debt, it would be outsized in a young asset with finite supply and thin free float.

Park’s remarks were prompted by a simple question: why is gold ripping while Bitcoin has lagged on a relative basis? He did not dispute gold’s leadership—calling it “the story of the year”—but argued the drivers differ. Gold is presently the venue for acute geopolitical expression and central-bank rebalancing, while Bitcoin’s adoption curve hinges on institutional flows that are still ramping. “Ultimately [these markets] are driven by flows,” he said, adding that Bitcoin’s flows are “inevitable” so long as the institutional agenda advances with “focused deliberation.”

A crucial plank of Park’s framework is the changing geography of gold. He pointed to two simultaneous realities: the headline that US gold reserves have reached a large notional value because of price—and the under-discussed fact that the US share of global official gold has sunk over decades. “At one point post-World War II the US had over 50% of the world’s global gold reserve supply as a central bank and now it’s less than 20%. So who’s making up for the compensation on their side? Likely China and many other BRIC countries in the lead.” That shift, Park argued, helps explain the persistence of gold’s bid.

China, in his telling, is exerting influence not only through accumulation but also by building market infrastructure. He highlighted “the launch of the Shanghai Gold Exchange” and the rise of “the Shanghai Futures Exchange,” observing that “physical gold now actually trades in China” at a scale once associated with London. In a symbolic move earlier this year, “for the first time [they] opened up vaults in Hong Kong to allow offshore investors to put their gold in reserves,” a step Park sees as part of a longer-term strategy to enhance the creditworthiness of CNY-settled commodity trade.

Will The US Act First?
Park then connected this gold realignment to Bitcoin’s addressable demand. He referred to the scenario in which the US takes the massive unrealized gains on its gold if marked at market and either revalues or borrows against those gains to purchase Bitcoin for its strategic reserve under President Donald Trump. “Gold has been marked at the Treasury at $42 an ounce and we all know right now it’s trading at [roughly] 3850… There’s a trillion dollars of basically paper gains.” In that context, he argued that leveraging paper gains into a scarce digital reserve asset could be a high-beta upgrade to the sovereign balance sheet.

Pressed on the political feasibility, Park distinguished between executive action and legislation. “The executive path is a great starting point to create a watershed moment,” he said, but “no democratic coalition is truly bought in until a legislative motion.” The former could demonstrate intent; the latter would make a Bitcoin reserve strategy “irreversible” and align it with the broader social mandate he associates with sound-money adoption.

The crux of his “supercycle” framing is compounding. Park walked through return profiles to quantify why a large base allocation, even if financed, could matter over time. “If you own Bitcoin and you assume that it’s going to go up by 12% a year, you’ll make a 30x in 30 years… If you think it’s actually going to go up by 40% per year, which is what the [asset] has been otherwise annualizing, it’s 10 years.” He stressed that the point is not to promise those numbers, but to illustrate how modest annualized returns can cover meaningful fiscal gaps when the base is large enough and the asset is credibly scarce.

Why Is Bitcoin Lagging Gold?
Park also addressed why Bitcoin has not matched gold’s recent pace. Part of the answer, he suggested, is optics: Bitcoin is “living, breathing software” that evolves via open debate, whereas gold’s appeal is its millennia-long immutability. The transparency of Bitcoin’s governance can spook newcomers who only see the noise. “If I were outside and I was a BlackRock ETF buyer and I listened to the conversation that’s happening between the Bitcoin developers, I might say, ‘Hold on a second. This is crazy stuff.’” Even so, he framed current developer disputes—such as arguments over relay policy or spam-filter defaults—as hygiene issues, not existential ones. They matter for performance and propagation, but not for the core monetary assurances: “21 million or bust.”

He invoked the lessons of the block-size war to explain why the system’s checks and balances are a feature, not a bug. “Ultimately, who is running consensus at Bitcoin?… The node clients are very valuable and they are in control versus miners and their self-interests. And that was a huge moment because it showed you decentralization was alive.” The line between hard-coded rules and socially enforced norms will always invite argument, he conceded, but in his view that process “future-proof[s] Bitcoin as the ultimate store of value.”

Throughout, Park returned to flows. Gold’s flows, in his assessment, are being pulled by geopolitics and central-bank behavior—especially in Asia. Bitcoin’s flows will be pulled by institutional adoption and, potentially, by policy innovation that converts dormant balance-sheet strength into active demand. That is why he sees the assets as complements within the same macro problem set rather than rivals fighting for a single inflow.

“Gold’s greatest cultural power is its impermanent fixture in our mindset and its durability for eons,” he said. Bitcoin, by contrast, offers sovereignty, portability, and programmability that younger cohorts find intuitive. “Young people are mentally more able to do things that older people can’t… the trend of young people understanding digital store of wealth… is the big picture.”

I spoke with @dgt10011 on whether we should be worried about bitcoin lagging gold’s performance, durability of bitcoin vs gold, how to think about bitcoin as living software, and a new theme referencing the retardification of society.

Enjoy!

YouTube: https://t.co/kwCRnibemU… pic.twitter.com/0BckI7h7Eb

— Anthony Pompliano 🌪 (@APompliano) October 3, 2025

If that generational shift meets a government-level balance-sheet pivot, Park believes the market structure can change quickly. “A trillion dollars of Bitcoin is hugely impactful,” he repeated, not because it solves everything overnight, but because it reorganizes incentives for issuers, custodians, and policymakers around a credibly scarce digital reserve. In that world, the present period—where gold leads and Bitcoin consolidates—may be remembered not as divergence, but as staging.

“Bitcoin will catch up,” Park said. “These are ultimately driven by flows.” And if those flows are seeded by the very gold rally now commanding headlines, the supercycle label he’s willing to use may not be hyperbole, but simply a description of how compounding works when new liquidity finally meets hard caps.

At press time, BTC traded at $120,313.

BTC rises back above $120,000, 1-day chart | Source: BTCUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

Key NotesChainlink's newly launched Reserve program has accumulated a total of 417,461.17 LINK.LINK is now trading at $22.35 with a 1.43% decline over the last 24 hours.At the core of the spike in Chainlink reserve is Payment Abstraction.
Leading blockchain oracle network Chainlink

LINK
$22.35

24h volatility:
0.6%

Market cap:
$15.16 B

Vol. 24h:
$924.21 M

has seen its on-chain reserve surge past 417,000 LINK tokens. This milestone strengthens its long-term growth and sustainability strategy. However, the performance of the token’s price is not commensurate with the positive sentiment in its ecosystem.

LINK Price Fails to Complement Reserve Boost
According to CoinMarketCap data, LINK price is currently pegged at $22.35 with a 1.43% decline over the last 24 hours. Also, the coin is 3.79% down over the last 30 days. However, the coin has registered a 10.17% increase within the past 7 days. This mild drawdown is proof that investors are taking profit after the momentary gains.

Interestingly, the current price action coincides with news of a significant surge in Chainlink’s reserve. Per data from the newly launched Reserve program, it has recorded a total of more than 417,000 LINK in its holdings. In this week alone, it added 46,441 LINK to the reserve.

RESERVE UPDATE

Today, the Chainlink Reserve has accumulated 46,441.67 LINK.

As of October 2nd, the Chainlink Reserve holds a total of 417,461.17 LINK.https://t.co/oxMv5N3Zva

The Chainlink Reserve is designed to support the long-term growth and sustainability of the Chainlink… pic.twitter.com/2X5qy1Us7K

— Chainlink (@chainlink) October 3, 2025

It is worth noting that the reserve initiative is designed to accumulate the native token specifically from offchain enterprises’ revenue and on-chain service usage. In the long run, it will be crucial to boost the growth and financial sustainability of the network.

Payment Abstraction is a core contributor to this reserve. This mechanism allows Chainlink to automatically convert the service fees on different assets to LINK. As it stands, large organizations that have integrated Chainlink services now contribute to the reserve without any disruption to their existing billing infrastructure.

This growth in its reserve is a reflection of the increasing institutional adoption. Analysts and market observers believe that the current price outlook may be a result of intense profit-taking in the market. Meanwhile, Chainlink’s infrastructure has seen increased integration within traditional financial systems in recent times.

In September, Chainlink welcomed DualMint into its BUILD program. This was in a bid to connect street-level businesses with Decentralized Finance (DeFi) through tokenized real-world assets (RWA).

Join Those Making the Gains from Bitcoin Hyper Tech
LINK’s weak performance at this time is not sufficient to stop Bitcoin Hyper (HYPER) from making waves. This crypto project currently has a reputation among retail investors in the sector.

Designed as a Layer-2 solution BTC project with strong potential for early investors, Bitcoin Hyper is the right fit for those who are not afraid to take on high risks for high rewards. Its strong presence and potential have found it a position among the best crypto presales of 2025.

Current Presale Stats:

Current Price: $0.013035

Amount Raised So Far: $20.48 million

Ticker: HYPER

HYPER price will see an adjustment in about 1 day, 12 hours, and 1 minute.

Participation in the presale can be done via ETH, BNB, USDT, or credit card directly on the official Bitcoin Hyper website. Want to learn more about HYPER? Read Bitcoin Hyper price prediction on Coinspeaker.

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.

Chainlink (LINK) News, Market News

Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.

Godfrey Benjamin on X

TLDR

Arthur Hayes claims ECB will print money to address France’s debt crisis
Bitcoin predicted to benefit from euro devaluation as investors seek safe-haven assets
Hayes’ blog post “Bastille Day” criticizes European monetary leadership
Bitcoin recently trading at $120,515, up 7% over the past week
Hayes forecasts Ethereum will reach $10,000 by the end of 2025

In his latest provocative blog post titled “Bastille Day,” crypto billionaire Arthur Hayes has turned his attention to the European Central Bank (ECB), predicting that its handling of France’s debt crisis will drive Bitcoin prices higher. The former BitMEX CEO, known for his bold cryptocurrency forecasts, argues that excessive money printing by the ECB will boost Bitcoin’s value as investors seek alternatives to a weakening euro.

Hayes focuses on France, the eurozone’s second-largest economy, which he claims has the highest debt burden in the region. According to Hayes, this debt situation will force the ECB into a difficult position.

“The ECB will valiantly print money to forestall the loss of its raison d’être,” Hayes wrote in his blog post. He added bluntly that “France is fucked.”

The crypto entrepreneur presents what he sees as an inevitable scenario: either the ECB prints money now to finance the French welfare state, or it will be forced to do so later when French capital controls threaten to destroy the euro. In both cases, Hayes believes trillions of euros will enter circulation.

Bitcoin has been trading at approximately $120,515 per coin, showing a 7% increase over the past week. Most of these gains occurred following a government shutdown, as many investors turned to Bitcoin as a safe-haven asset.

Money Printing and Cryptocurrency Gains
Hayes has previously made similar claims about the U.S. Federal Reserve’s monetary policy. Earlier this year, he predicted Bitcoin could reach $1 million by 2028 due to what he expects will be continued money printing by the American central bank.

The current criticism of the ECB follows the same logic. Hayes argues that central bank interventions that devalue fiat currencies will drive investors toward scarce assets like Bitcoin.

“It shall be a glorious day for the faithful as printed euros will combine with printed dollars, yuan, yen, etc. to bid up the price of Bitcoin,” Hayes wrote. He described Bitcoin’s rise as “inexorable” compared to the euro, which he called a “piece of trash.”

While Hayes focuses on monetary policy, social factors may also play a role. Reports indicate that younger generations in France have been protesting against rising debt, stagnant wages, and fears about their economic future.

Broader Market Impact
The cryptocurrency market as a whole has seen gains alongside Bitcoin. Ethereum, the second-largest cryptocurrency by market capitalization, recently traded at $4,492, representing a nearly 10% increase over the past week.

Hayes has also made predictions about Ethereum, forecasting that its price will reach $10,000 by the end of 2025. This would represent a substantial increase from its current valuation.

Market observers note that investors often turn to cryptocurrencies like Bitcoin during periods of economic uncertainty, government shutdowns, or fears of currency debasement. The recent price movements seem to align with this pattern.

Hayes’ critique of the ECB, particularly focusing on ECB President Christine Lagarde, suggests he believes European policymakers have few alternatives to debasing the common currency. This perspective positions Bitcoin as a hedge against inflation and monetary policy decisions.

Despite the attention Hayes’ predictions receive, some market analysts caution that his dramatic forecasts often combine sharp rhetoric with selective economic data. Nonetheless, his views continue to influence cryptocurrency market sentiment.

Bitcoin’s current market performance, rising past $120,500 with an 8% increase over seven days, suggests that traders may be responding to these types of analyses and predictions about central bank policies.

Pump.fun’s native token PUMP jumped in price this week, making it one of the strongest performers in the market.

Summary

PUMP price jumped double digits this week, climbing to $0.0069 with daily trading volumes above $640 million and market cap topping $2.44 billion.
Fitell, a Nasdaq-listed firm, recently added 216.8 million PUMP tokens worth $1.5 million to its treasury, marking the first public corporate allocation.
Since July, Pump.fun has repurchased more than $124 million worth of tokens through buybacks, while its recent HTX listing boosted liquidity and its upward momentum.

According to data from crypto.news, PUMP price is trading at $0.0069, up 2.6% in the past 24 hours and more than 32% over the last seven days. The rally caps off a rough September that saw the token slip from earlier highs, but momentum has shifted quickly in October. Daily trading activity has surpassed $640 million, driving its market cap above $2.44 billion.

Buybacks and exchange listings fuel PUMP rally
Pump.fun’s buyback strategy remains the central pillar behind the PUMP (PUMP) price recovery from dips. Since mid-July, the protocol has repurchased over $124 million worth of tokens, including more than $50 million in September alone, using trading fee revenue to fund the execution.

$124 million buybacks boost PUMP price | Source: Dune
The tokens bought back are partly burned and partly redirected into the ecosystem, creating a steady reduction in available supply. With daily repurchases in the $1–2 million range, the program serves as a long-term mechanism tightening supply.

The impact has been magnified by PUMP’s recent listing on HTX, which added liquidity and visibility, giving buybacks greater leverage in driving price appreciation.

Treasury moves boost PUMP price 
Treasury demand for PUMP is also emerging as a key driver behind the rally, with corporations now allocating capital into the token. Fitell, a Nasdaq-listed company, just added 216.8 million PUMP tokens worth about $1.5 million to its treasury on October 1. The company says this is part of a broader pivot toward Solana-backed assets, positioning PUMP as a strategic holding in its digital asset reserves.

While Fitell is the first to make its allocation public, the move signals how corporate treasuries could become an important source of sustained demand for PUMP going forward.

Pump price outlook, token eyes $0.008
Uptober optimism saw PUMP break out of a falling triangle pattern, bouncing sharply from support around $0.005 and reclaiming upward momentum. The successful breakout signals renewed buying strength, with price now consolidating just under the $0.0076 resistance zone.

The RSI has also recovered strongly, climbing out of oversold conditions and now holding above the midline, showing buyers remain in control.

As long as RSI stays elevated without signs of exhaustion, momentum favors further upside. A push through the $0.008 barrier could open the way toward the next major target near $0.010.

PUMP price chart: TradingView

On-chain analysis shows that the Coinbase hacker spent $22.95 million worth of USD Coin and spent it on Solana. This marks the second major SOL purchase made by the hacker.

Summary

The Coinbase hacker recently swapped $22.95 million DAI into USDC and bridged it to Solana to buy over 100,000 SOL.
Since the attack, the hacker has executed at least five major on-chain transactions involving Bitcoin, Ethereum, DAI, and Solana.

According to on-chain analyst Ember CN, the hacker swapped around 22.95 million DAI into USDC only a few hours before bridging the funds. Not long after, the hacker bridged the 22.95 million USDC to the Solana network to purchase 100,913 SOL at an average price of $227.

As of Oct. 3 on 09:24 UTC, the hacker had emptied out most of their holdings on the wallet address, leaving only $0.47 worth of Solana (SOL).

This marks the largest SOL purchase made by the hacker allegedly responsible for draining up to $400 million from a cyberattack that occurred in May 2025. Just a month prior, the hacker also swapped DAI (DAI) for USDC before using the stolen funds to purchase 38,126 Solana.

The Coinbase hacker had spent stolen funds to purchase 100,913 SOL | Source: EmberCN
At press time, Solana is trading at $231 after rising by 3% in the past 24 hours. In the past month, SOL has been on an upward trend, having risen by 10.8%. However, it is still standing below its all-time high at $293 by 21.2%.

Coinbase hacker moves stolen funds from May cyberattack
So far, the Coinbase hacker has made at least five transactions on-chain since robbing the major crypto exchange of at least $400 million in damages. In May 2025, the hacker swapped about $42.5 million from Bitcoin (BTC) into ETH (ETH) via THORChain. Within the same month, the hacker sold 26,347 Ethereum for 68.18 million DAI. The sale was done at a price of $2,588.

Later in July, the hacker repurchased 5,513 ETH by spending 14.86 million DAI at $2,696. After a period of dormancy, the hacker appeared to use more DAI converted into USDC to buy chunks of large Solana purchases, much like the most recent one.

The May 2025 breach on Coinbase reportedly impacted nearly 70,000 users as the hacker deployed coordinated social-engineering on the attack.

To carry out the cyberattack, hackers had bribed overseas customer-support contractors to extract user records between December 2024 and May 2025. The attack compromised personal data, including full names, dates of birth, addresses, phone numbers, masked bank account numbers, and government-issued ID scans.

Strategy Inc., the crypto treasury firm co-founded by Bitcoin bull Michael Saylor, saw its Bitcoin holdings hit a record high above $77 billion as the flagship cryptocurrency returned to the $120,000 level after several weeks of volatile price action.

Summary

Strategy Inc.’s Bitcoin holdings have hit a new all-time high as BTC returned to levels above $120,000.
The company has acquired 11,085 BTC in the past seven weeks.
Strategy’s mNAV recovered from a low of 1.195 in September to over 1.5.

As of Oct. 3, Strategy’s Bitcoin stash, which comprises 640,031 BTC, was valued at approximately $77.4 billion, with Saylor celebrating the development with an X post that recalled the company’s first $250 million investment and the initial unrealized loss that followed.

“Our journey began with $0.25 billion in Bitcoin — and an immediate $0.04 billion unrealized loss. Today, we closed at a new all-time high: $77.4 billion in BTC NAV,” Saylor Said.

Much of this value skyrocketed after Bitcoin price shot past the $120,000 mark, backed by consistent purchases by Strategy even during periods of broader market uncertainty. 

The firm’s continued buying spree has helped it maintain its position as the largest corporate holder of Bitcoin in terms of both value and the number of Bitcoin held. Over the past seven weeks, Strategy has acquired 11,085 BTC, with the most recent purchase of 196 BTC recorded on Monday.

Strategy’s mNAV recovers
Strategy’s valuation has roughly doubled compared to last year’s all-time high of around $41.8 billion, and has helped the firm’s market-based net asset value, or mNAV, rebound sharply. The metric had dropped to a year-to-date low of just 1.195 during the September correction, but has now climbed back above 1.5. However, this is still below the 2.5 threshold that has previously guided the company’s capital raise decisions.

Investors had grown cautious when the mNAV multiple dipped below levels that Michael Saylor once described as a floor for raising capital, so this recovery not only strengthens Strategy’s ability to issue new equity at a premium but also gives the company more headroom for future Bitcoin purchases without prompting any concerns over risks of shareholder dilution.

Likewise, Strategy shareholders welcomed the turnaround, with the MSTR shares rebounding sharply after weeks of pressure tied to falling Bitcoin prices and weakening sentiment around digital asset equities. On Oct. 2, MSTR closed at $352.33, after rallying more than 4% on the day to recapture levels not seen since early September, according to Google Finance data.

While the stock is still trading below its July high near $457, the latest uptrend could be the start of an even bigger move that helps it reach fresh yearly or even all-time highs.

As of this writing, data from BitcoinTreasuries.NET suggests that Strategy accounts for roughly 48% of the 1.32 million BTC held by public and private companies globally.

CAKE has blasted past a key resistance zone that capped action since late December, fuelled by BNB’s new all-time high. What’s next for CAKE price?

Summary

CAKE price has cleared $2.80–$2.90 resistance and the previous swing high at $3.10, now ~24% above its 20-day SMA.
A healthy correction could bring price back to $2.80–$2.90 before resuming upward momentum.

After gaining almost 20% yesterday, PancakeSwap (CAKE) price continues its rally today, having broken through the previous swing high and the psychological resistance at $3 with strong momentum and trading volume. Price reached an intraday high of $3.58, marking its highest level this year.

With this surge, CAKE price has also cleared the horizontal resistance band between $2.80–$2.90, a barrier that has capped the price action since late December — albeit a couple of fakeouts in recent months.

Technically, the breakout move appears to have been set off by a retest of the ascending trendline support near $2.50, which consistently acted as a foundation for higher lows throughout 2025.

Looking ahead, a retest of the breakout level around the previous swing high at $3.10 would be the best-case scenario for bulls after such an extended move. With the current price at $3.38, it’s about 24% overextended above the 20-day SMA at $2.72. A more measured and likely scenario, however, is a deeper pullback into the $2.80–$2.90 zone, which would still be considered a healthy retest for bullish continuation.

Source: TradingView
What’s driving CAKE price?
Binance Coin (BNB) hit a new ATH today, surpassing $1,100. CAKE’s liquidity and trading activity on BNB Chain make it highly correlated with BNB’s price action, meaning BNB’s rally likely boosted sentiment for CAKE.

Additionally, PancakeSwap recently launched “Fee-Earning Limit Orders” on BNB Chain. These orders, when executed, pay a 0.1 % fee to the order placer. This not only incentivizes deeper liquidity, but also creates an additional revenue stream that flows back into the PancakeSwap ecosystem. For long-term CAKE holders, this is meaningful because PancakeSwap channels a portion of its protocol revenue into CAKE buybacks and burns, directly reducing supply while reinforcing the token’s value capture.

Ethereum co-founder Vitalik Buterin has sparked debate after taking a swipe at billionaire investor Peter Thiel. In a post on X, Buterin wrote:

“Reminder that Peter Thiel is, to put it mildly, not a cypherpunk.”

The comment wasn’t random. Buterin attached a passage from Thiel’s 2007 essay The Straussian Moment, drawing attention to the sharp contrast between Thiel’s philosophy and the values that built the crypto movement.

Thiel’s Surveillance WorldviewIn the essay, Thiel leans on the ideas of political philosopher Leo Strauss, who believed secrecy and espionage were necessary to protect society.

Thiel wrote: “The most just society cannot survive without ‘intelligence,’ i.e., espionage… Instead of the United Nations… we should consider Echelon, the secret coordination of the world’s intelligence services, as the decisive path to a truly global pax Americana.”

That line alone explains Buterin’s frustration. Crypto was born from cypherpunk ideals that are privacy, decentralization, and protecting individuals from surveillance. Thiel’s vision points in the opposite direction.

A History of Clashing BeliefsThiel’s Straussian leanings go back decades. At Stanford, he studied under Strauss-inspired thinkers and even co-founded The Stanford Review, a conservative student paper influenced by those ideas.

His skepticism of democracy is also well-documented. In 2009, he declared: “I no longer believe that freedom and democracy are compatible.”

On the business side, his track record fits that worldview. Palantir, the company he co-founded, is a backbone of U.S. government surveillance. 

And in crypto, he’s no small player – Thiel holds a 9.1% stake in BitMine Immersion Technologies (BMNR) and 7.5% in ETHZilla, two of Ethereum’s largest treasury firms.

Cypherpunks vs Power PoliticsThis is where the clash becomes obvious. Cypherpunks – the movement that inspired Bitcoin and later Ethereum – fought for tools that keep people safe from central control. Their philosophy was about openness and individual freedom.

Thiel’s Straussian approach promotes secrecy, elite-driven systems, and surveillance. Buterin’s post made one thing clear: Thiel may invest in Ethereum, but his values don’t align with the foundation crypto was built on.

The Ethereum Debate: Should It “Ossify”?After Buterin’s post, a community member raised concerns about powerful figures gaining influence in Ethereum. They suggested Ethereum should eventually “ossify” like Bitcoin, meaning the protocol would stop evolving to reduce risks of centralization.

Buterin agreed with the principle, writing: “I support gradual ossification and becoming much more cautious about large changes to the protocol once short-term scaling, lean Ethereum and tech debt cleanups are done.”

I actually agree. I support gradual ossification and becoming much more cautious about large changes to the protocol once short-term scaling, lean ethereum and tech debt cleanups are done.

Though the solution isn't surrendering to the existence of a closed circle and being…

— vitalik.eth (@VitalikButerin) October 3, 2025 However, he pushed back against narrowing Ethereum’s leadership, saying the solution is to widen and balance core research and development instead of closing ranks.

On one side lies the cypherpunk vision of decentralization and transparency. On the other, the risk of corporate and elite influence. Stay tuned for more if Thiel replies.

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DoubleZero’s SEC No-Action Letter marked a milestone but failed to boost trust, as tokenomics concerns fueled a 40% 2Z sell-off.Token unlocks and large insider allocations created selling pressure, with Jump Crypto moving over $20 million in tokens to exchanges.Community backlash centers on lack of fair distribution, unclear supply data, and suspicions of dumping despite strong project fundamentals.DoubleZero (2Z) recently made headlines after receiving a No-Action Letter from the SEC, marking a significant regulatory milestone for the blockchain infrastructure project.

However, instead of strengthening market confidence, the controversial token allocation mechanism sparked skepticism within the community. It also sent the token’s price to the ground right after listing.

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In late September 2025, a major development occurred for DoubleZero (2Z). The SEC issued a No-Action Letter concerning 2Z’s token distribution mechanism. This rare move was seen by many in the industry as an encouraging sign of collaboration between infrastructure projects and regulators.

“Today’s no-action letter exemplifies how performing that role can help infrastructure providers spend their time deep in the weeds of building out infrastructure, not knee-deep in parsing the nuances of securities laws,” the statement noted.

On the product side, DoubleZero has also been highly regarded by industry experts. It aims to tackle bandwidth and latency issues in distributed systems by providing dedicated fiber-optic connections, tokenizing rewards for bandwidth providers, and acting as a foundational layer to “accelerate” high-performance blockchains.

If successful, the project could transform how data is transmitted across nodes and validators, potentially becoming “bigger than just blockchains.”

“DoubleZero is one of the most ambitious projects we’ve ever invested in. Their technology will make all high performance blockchains faster and more performant. This is the innovation we need if we want on-chain price discovery for all of the world’s assets,” shared the Co-founder of Multicoin Capital.

Yet, despite these positive signals, DoubleZero’s 2Z token saw a sharp decline after an initial surge post-listing. At the time of coverage, 2Z was trading at $0.53501, down 40% from its recent ATH.

2Z token price chart. Source: BeInCryptoSponsored

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Many Problems with TokenomicsThe main issue lies not in the technology but in tokenomics and unlock mechanisms. A sudden influx of supply into the market and large token transfers by major stakeholders exerted downward pressure on the price.

Tokenomics reveals a total initial supply of 10 billion tokens distributed across groups (Foundation & Ecosystem ~29%, Jump Crypto ~28%, Malbec Labs ~14%, Team ~10%, and others), with varying vesting schedules. Many critics argue that the project only allocated tokens to VCs without any meaningful distribution to the community.

2Z token allocation. Source: DoubleZero tokenomics
“A lot of questionable things in the DoubleZero tokenomics… Only the insiders were allocated tokens!” emphasized one X user.

Arkham data also showed that Jump Crypto received $42.8 million worth of 2Z tokens, of which $20.9 million had been deposited to Binance and Bybit. This suggests potential sell-offs by market makers, contributing to the decline in price.

Not only is there a suspicion of dumping from MM, but another thing worth noting is that some parts were in “unlocked” status at launch. Data recorded that the total circulating supply of 2Z tokens at launch was about 3.47 billion.

This number is much larger than the announcement in the project’s MiCA whitepaper of 7% or 700 million 2Z. The origin of these tokens is still unclear, creating an information gap and increasing negative sentiment online.

Initial circulating supply of 2Z. Source: DoubleZeroWhile the No-Action Letter represents a regulatory win for DoubleZero’s infrastructure model, risks stemming from concentrated supply and unclear vesting schedules remain the key factors behind the token’s price volatility and shaken community trust.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

The achievement sheds some light on Strategy’s dominance, as almost half of all corporate-owned Bitcoin is under its control. At the same time, Bitcoin regained momentum above $120,000, sparking predictions of even more gains. Capriole Investments founder Charles Edwards expects a rapid breakout to $150,000, while Bitwise analysts argue that new US retirement fund allocations could drive the price beyond $200,000.

Strategy Bitcoin Stash Hits $77 BillionMichael Saylor’s digital asset treasury firm, Strategy, reached a huge milestone. Its Bitcoin holdings hit an all-time high valuation of $77.4 billion. This figure not only surpasses the market cap of several major global banks but also rivals the annual economic output of entire nations. 

The firm’s rise is thanks to its aggressive accumulation strategy and the broader resurgence of Bitcoin, which recently returned to the $120,000 mark after briefly peaking in mid-August.

Saylor pointed out the firm’s humble beginnings, and recalled how Strategy’s journey into Bitcoin started with just $250 million — and even included an immediate $40 million unrealized loss. Fast forward to today, and the company’s holdings of 640,031 BTC represent about 3.2% of the total circulating supply. 

To put its scale into perspective, its closest corporate competitor, MARA Holdings, holds only 52,477 BTC, which is valued at about $6.3 billion. Strategy alone now accounts for almost half of all Bitcoin held by public and private companies combined.

Top public Bitcoin treasury companies (Source: BitcoinTreasuries.NET)

Over the past seven weeks, Strategy’s treasury grew even further with the addition of 11,085 BTC, including a relatively modest 196 BTC purchase earlier this week. These strategic acquisitions, coupled with Bitcoin’s rebound, pushed the firm’s total valuation close to double what it was in 2024. At its current worth, Strategy’s Bitcoin stash could theoretically purchase 2.57 million cars at $30,000 each or nearly 385,000 homes valued at $200,000 apiece.

The sheer scale of Strategy’s holdings prove just how concentrated Bitcoin treasuries have become. Public and private companies collectively hold 1.32 million BTC, which is equal to 6.6% of the total supply, valued around $159 billion. Strategy’s 48% share makes it the dominant force in the sector by a wide margin.

Nation-states, by comparison, still lag far behind. El Salvador is one of the most well known governments to embrace Bitcoin, and currently holds 6,338 BTC valued at roughly $762.5 million. While impressive for a small nation, the total barely scratches the surface compared to Strategy’s war chest. 

On the other hand, the Central American country’s strategy of buying one BTC per day fueled debate over its pace of accumulation, especially as its holdings hover just below their own all-time high.

Bitcoin Poised for Quick Breakout?Bitcoin may be on the verge of setting a new all-time high, and some analysts project a surge to $150,000 before the end of 2025 as investor demand for safe-haven assets intensifies. 

Capriole Investments founder Charles Edwards believes the recent recovery above the $120,000 level could trigger a rapid breakout, which could push the cryptocurrency toward the milestone in a short span of time. At Token2049 in Singapore, Edwards explained that Bitcoin regained strong momentum after climbing more than 6% in the past week, with its latest move above $118,500 being its highest level since mid-August.

BTC price action over the past week (Source: CoinMarketCap)

While Edwards’ target of $150,000 is bullish, it is still more cautious compared to some other market forecasts. Analysts at Bitwise Asset Management, for example, see the possibility of Bitcoin climbing above $200,000 in the current cycle, fueled by structural changes in the investment landscape. 

André Dragosch, Bitwise’s head of European research, pointed out that the inclusion of crypto in US 401(k) retirement plans could be transformative. Even a 1% allocation from retirement managers would represent $122 billion in new capital, which could potentially lift Bitcoin well past the $200,000 mark.

Edwards also placed emphasis on the influence of Bitcoin’s four-year cycle, which historically aligned with major price surges. He assigned just over a 50% chance that the final three months of 2025 will deliver positive gains, in part due to cyclical market behavior and seasonal investor sentiment. 

Bitcoin monthly return history (Source: CoinGlass)

Historically, Bitcoin averaged 20% returns in October, 46% in November and modest but positive gains of around 4% in December. Edwards did mention, however, that institutional demand is still the most important driver of the market’s trajectory. This means that a downturn in buying activity could completely shift the outlook.

Other analysts are also pointing out certain technical factors that support the bullish case, like an emerging golden cross pattern, often seen as a strong signal for upward momentum. With both institutional flows and chart structures aligning, expectations are building for Bitcoin to potentially reach $150,000 by year-end.

Privacy coins have surged 71.6% in 2025, outperforming Bitcoin’s 27.1% and Ethereum’s 33.4%, despite low retail search interest.Zcash leads the rally with a 247% monthly gain, boosted by Grayscale’s new ZEC Trust, while Monero also posts double-digit growth.Analysts point to capital rotation, late-cycle strength, and regulatory shifts as drivers making privacy tokens a key bull market theme.In a year dominated by headlines about Bitcoin’s (BTC) record highs, Ethereum’s (ETH) rally, meme coins, layer-2 solutions, and more, privacy coins have quietly emerged as the cryptocurrency sector’s top performers. 

Despite minimal media attention and subdued public interest, the privacy coin market has outpaced every other sector. The growth has been further propelled by the recent bullish rally in leading privacy tokens.

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Privacy Coins Emerge as 2025’s Best-Performing Crypto SectorGoogle Trends data indicated that search interest for the term ‘privacy coin’ remained low through the first half of 2025, only beginning to accelerate in August and reaching a peak. However, this was short-lived as public curiosity faded again and interest dropped.

Search Interest in The Term ‘Privacy Coin.’ Source: Google TrendsIn addition, when compared to searches for terms like ‘crypto’ or ‘altcoin,’ interest remained completely flat. This showed a lack of retail interest in the sector.

Despite this, privacy-focused cryptocurrencies have continued to grow. According to the latest data from Artemis, the sector has risen 71.6% in 2025, the highest uptick among all crypto sectors.

Privacy Coins Performance. Source: ArtemisSponsored

In comparison, Bitcoin has seen a 27.1% increase. Additionally, Ethereum, exchange tokens, and store-of-value assets have appreciated 33.4%, 47.4%, and 9.5%, respectively. Meanwhile, the rest of the sectors have all seen losses.

Zcash Leads Privacy Coin Rally in 2025That being said, retail interest is not entirely absent from privacy coins. The latest rallies in leading tokens show that momentum has intensified recently. 

For instance, Zcash (ZEC) has been the standout, surging over 150% in the past week. BeInCrypto recently reported that the altcoin reached a three-year high, with a 247% monthly return.

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The catalyst was Grayscale’s launch of a Zcash Trust, enabling accredited investors to gain exposure without direct token handling and boosting demand. At the time of writing, the privacy coin traded at $146.65, up 0.918% over the past day.

Zcash (ZEC) Price Performance. Source: BeInCrypto Markets Meanwhile, Monero (XMR), the sector’s leader with a market cap of approximately $6.1 billion, has also performed strongly. Over the past week, the coin has gained nearly 14%, less than ZEC but still outperforming the broader crypto market’s gains.

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CryptoRank pointed to a mix of factors behind the recent upswing in privacy coins. One explanation is capital rotation, typically seen in crypto markets.

Another is the theory that privacy tokens often see stronger runs closer to the later stages of a market cycle. At the same time, tightening regulations and accelerating adoption have renewed attention on privacy as a potential growth theme.

“Privacy coins don’t just pump at cycle tops. Data shows they grow across different stages – XMR & ZEC moving in sync with BTC prove it,” CryptoRank added.

XMR, ZEC, and BTC Correlation. Source: X/CryptoRank_ioThus, with momentum building, privacy tokens are positioning themselves as a core narrative in the ongoing bull market.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Journalist

Posted: October 3, 2025

Key Takeaways
Why is Bitcoin rallying despite weak macro data?
Bitcoin is up 5.41% this month, driven by rate-cut expectations on a soft labor market, not hard economic prints.

Does this mean a solid bull market?
U.S. economic uncertainty, the federal shutdown, and blind optimism are keeping volatility high, making the rally choppy for traders.

Risk assets are flexing on pure “expectations” again. In under 72 hours, the total crypto market cap has jumped roughly $250 billion, with blue-chip high-caps blasting past key resistance levels, fueling a risk-on sentiment.

Zoom out, though, and the macro FUD is far from over. 

The U.S. economy is slipping deeper into post-shutdown uncertainty. Payroll processing company ADP reports that U.S. companies cut 32,000 jobs in September, bringing private employment down to 134.526 million.

Source: adpemploymentreport.com

Put simply, the U.S. labor market is weakening.

Challenger, Gray & Christmas, the global outplacement firm, reported that planned layoffs by U.S. employers in Q3 totaled 202,118, marking the highest Q3 tally since 2020, when 497,215 job cuts were recorded.

On the back of this data, traders are rotating into risk assets, “pricing in” a slower economy as a catalyst for another rate cut. But does this undercut the narrative of Bitcoin [BTC] moving purely on “blind optimism”?

Federal shutdown blocks key economic signals
The shutdown has markets navigating in the dark.

The suspension of operations at key agencies, including the Bureau of Labor Statistics (BLS), has created a major blind spot for risk assets. With the BLS offline, crucial U.S. economic signals are now on hold. 

This includes the monthly jobs report, originally scheduled for the 3rd of October, as well as other critical inflation data, like the Consumer Price Index (CPI) and Producer Price Index (PPI), expected around mid-October.

Source: Polymarket

Notably, that uncertainty has pushed odds of an October rate cut to 90%.

As a result, Bitcoin is up 5.41% this month. However, this rally isn’t backed by hard data, but by bullish rate-cut “expectations” fueled by a weakening labor market, leaving a blind spot on the true state of the U.S. economy.

Institutional Bitcoin flows bet big on the economic paradox
The Kobeissi Letter called the U.S. economic setup “broken.”

“We’re 26 days from the next Fed meeting with tomorrow’s suspended jobs report being the final one before their next meeting.”

It further stated,

“So, the Fed is cutting rates into rising inflation due to a weak labor market, but we can no longer receive KEY labor market data. And, when we do receive the data, it is revised down 2 times before it’s considered “accurate.” The system is broken.”

Simply put, the market is “blindly” pricing in a rate cut based on a weak labor market, while largely ignoring inflation. Case in point, U.S. inflation jumped to 2.9% in August, marking the highest level in seven months.

However, with the federal shutdown, inflation data is on the back burner. For Bitcoin, the setup is straight-up bullish, with institutions piling in. Notably, $1.3 billion has flowed into BTC ETFs, backing this paradox.

But does it really signal a bull market? The U.S. economy is still mired in uncertainty, volatility is still running wild, and blind optimism is carrying Bitcoin’s momentum, keeping the ride choppy for traders.

On September 30, 2025, the Internal Revenue Service (IRS) issued new guidance that clarifies how the Corporate Alternative Minimum Tax (CAMT) applies to digital assets. The verdict: unrealized gains and losses on assets like Bitcoin do not count toward CAMT calculations for large corporations.

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TLDR

CME Group plans to offer 24/7 cryptocurrency futures and options trading starting in early 2026
Bitcoin recently touched $121,000, approaching its all-time high of $124,000 from August
Government shutdown has historically been positive for risk assets including Bitcoin
Gold reaching new highs above $3,900 with analysts suggesting Bitcoin could hit $165,000
ETFs saw nearly $2.4 billion in combined Bitcoin and Ethereum inflows this week

The cryptocurrency market is showing strong momentum as Bitcoin approaches previous highs while major financial institutions plan to expand their crypto offerings. The Chicago Mercantile Exchange (CME) Group has announced plans to offer round-the-clock trading for cryptocurrency futures and options beginning in early 2026, pending regulatory review.

This expansion represents a major shift for the derivatives marketplace, which currently pauses trading on weekends, holidays, and outside normal business hours. The move comes in response to growing client demand for continuous risk management capabilities in the volatile crypto markets.

“While not all markets lend themselves to operating 24/7, client demand for around-the-clock cryptocurrency trading has grown as market participants need to manage their risk every day of the week,” explained Tim McCourt, CME Group’s global head of equities, FX, and alternative products.

The CME Group currently handles substantial cryptocurrency trading volume. As of mid-September, the exchange reported a notional open interest volume of approximately $39 billion, while global crypto derivatives open interest stood at about $3.2 billion according to CoinMarketCap data.

The regulatory review process for the new trading options will be conducted by the U.S. Commodity Futures Trading Commission (CFTC). However, the review may face delays due to the ongoing U.S. government shutdown, which has placed the CFTC on reduced operations.

Bitcoin Price Movement
While the 24/7 trading expansion is still in the future, current market conditions are favorable for cryptocurrencies. Bitcoin touched the $121,000 mark on Thursday, reaching its highest point since mid-August and approaching its all-time high of around $124,000 set on August 14.

Bitcoin Price on CoinGecko
Ethereum has also performed well, trading above $4,500 – its strongest level in three weeks.

The positive price movement comes despite – or perhaps because of – the U.S. government shutdown that began on October 1. Historical data shows that the S&P 500 has advanced during every government closure since 1990, and with Bitcoin’s increased correlation to traditional markets, similar patterns may be emerging for cryptocurrencies.

Bitcoin may also be catching up to gold’s recent rally. Gold prices reached a fresh all-time high above $3,900, with analysts at JPMorgan suggesting Bitcoin looks undervalued relative to gold on a volatility-adjusted basis. This analysis implies potential upside toward $165,000 for Bitcoin by year-end.

Market Outlook
The current market dynamics appear to align with seasonal trends. October has historically been Bitcoin’s strongest month, averaging gains of more than 14% since 2013, leading some to call it “Uptober” in crypto circles.

“Early signs suggest this year may be no exception,” noted Gadi Chait, head of investment at Xapo Bank. “Even the U.S. government shutdown hasn’t derailed momentum, showing how resilient bitcoin has become of late.”

Crypto-related stocks are also performing well in this environment. Shares of Coinbase rose by more than 7%, while Bullish and Circle saw even larger gains of 11% and 16% respectively.

Adding to the positive market sentiment are substantial inflows into crypto investment vehicles. Nearly $2.4 billion flowed into combined Bitcoin and Ethereum funds this week.

The broader economic environment also supports cryptocurrency prices. CME FedWatch data indicates markets are pricing a nearly 98% chance of another quarter-point interest rate cut at the Federal Reserve’s October meeting. The central bank lowered rates in September for the first time in four years, which provided an initial boost to both equities and cryptocurrencies.

The CME Group’s CEO Terrence Duffy commented during a recent joint roundtable discussion between the SEC and CFTC that “the market is going to demand” 24/7 trading soon, and cryptocurrency was the “best way to get there.”

BNB Chain, Solana, and Avalanche recorded record-breaking growth in Q3 2025 amid stronger institutional flows driving altcoin adoption.

Summary

BNB Chain, Solana, and Avalanche posted record Q3 2025 growth, with higher transactions, TVL, and user activity.
CryptoRank data shows institutional flows and ecosystem upgrades played a key role in expanding adoption.
The altcoin surge highlights strong investor demand and sets momentum for Q4 market performance.

BNB Chain, Solana, and Avalanche surge in Q3, with each network recording sharp increases in usage, trading, and total value locked.

This shift demonstrates how altcoin ecosystems are growing alongside Bitcoin and Ethereum.

According to the CryptoRank Q3 2025 report published on Oct. 3, BNB Chain posted a 57% quarter-over-quarter jump in active addresses, reaching a new record of 47.3 million. In addition to helping BNB reach a new all-time high above $1,000, the launch of the Aster perpetual DEX caused a spike in derivatives activity and increased transaction counts to 1.22 billion.

With decentralized exchange volumes holding over $120 billion per month and total value locked up more than 30% to $30.5 billion, Solana also experienced notable growth. A major network upgrade increased block capacity by 20%, making Solana more resilient to the surge in decentralized finance and memecoin activity.

Supported by institutional partnerships and treasury initiatives, Avalanche saw one of its strongest recoveries since 2022. TVL rose to $4.4 billion and DEX volume went up 185% from the previous quarter to a new high of $37.1 billion.

Institutional flows into Bitcoin and Ethereum
Due in part to record inflows into U.S. spot exchange-traded funds, Bitcoin fluctuated between $108,000 and $118,000 during the third quarter. Retail holders have been quietly replaced by institutional investors, creating a more stable base of ownership.

Ethereum also reached new heights as a result of its crucial role in stablecoin issuance and DeFi. ETH gained ground against BTC and drew increasing demand for ETFs as its supply on centralized exchanges decreased.

U.S. regulation sets foundation for growth
Q3 brought the first major wave of crypto laws in the United States, giving the industry a clearer path forward. The GENIUS Act established firm rules for payment stablecoins, requiring reserves in cash or Treasuries and monthly disclosures, which spurred a rapid expansion in stablecoin supply.

At the same time, the CLARITY Act moved through Congress, outlining how the SEC and CFTC will divide oversight of digital assets. The Anti-CBDC Surveillance State Act boosted stablecoins as the private sector alternative and stopped the Federal Reserve from introducing a retail digital dollar.

Because of these actions, which have increased liquidity and investor confidence, stablecoins are now the cornerstone of DeFi and trading activity.

TLDR

ETH found a potential bottom at $3,900 after recent market fluctuations
A rare “Power of 3” pattern suggests an 80-100% breakout potential in Q4
ETH ETFs saw $547 million in inflows, led by Fidelity ($202M) and BlackRock ($154M)
Long-to-short ratios and rising derivatives activity show bullish positioning
Technical analysis points to $5,766 as a medium-term target if momentum continues

Ethereum’s price has shown resilience after dropping to $3,900, with many analysts now considering this level a local bottom. The second-largest cryptocurrency by market cap is currently trading at around $4,477, reflecting a recovery that has caught the attention of market observers.

The bounce from $3,900 has technical analysts pointing to a rare pattern known as the “Power of 3” (PO3) model. This setup, also called the Accumulation-Manipulation-Distribution pattern, previously drove ETH from $2,000 to $4,900 between May and June.

The latest structure appears to be following a similar trajectory. Buyers accumulated ETH between $4,800 and $4,200 before a swift drop pushed the price briefly below $4,000.

Many traders view this move as a deliberate liquidity sweep or stop-hunt, clearing external liquidity around the $4,180 level.

This retracement actually reinforced the bullish narrative rather than weakened it, aligning with a daily fair value gap and potentially setting up a repeat of the Q2 pattern.

Ethereum Price on CoinGecko
Technical Indicators Point Upward
The 25-day and 50-day simple moving averages are currently acting as near-term resistance. Analysts suggest that the next critical step would be a decisive daily close above $4,500.

Securing this level would provide Ethereum with a solid base for its next advance. If this pattern holds true, experts predict a potential 80-100% breakout as Q4 unfolds.

This would echo the magnitude of gains seen earlier in the year. With its recent low below $3,900 looking increasingly like a floor price, ETH may be testing new highs soon.

Chart analysis has highlighted resistance near $4,275. Beyond this level, upside targets are seen at $4,450 and $4,800.

Medium-term projections extend toward $5,766 if momentum sustains. Support remains strong between $4,100 and $4,175.

ETF Inflows Boost Market Confidence
Institutional interest has played a major role in ETH’s recent price action. Data shows that Ethereum ETFs attracted around $547 million on September 29 alone.

Fidelity added about $202 million, while BlackRock purchased close to $154 million. These inflows ended several days of consecutive outflows.

Studies have shown that $100 million in inflows could lift spot prices between 0.3% and 0.7%. This trend suggests that Ethereum ETF flows play an important role in near-term volatility and momentum.

The renewed institutional demand provides a stabilizing force. According to market analysts, consistent inflows reduce downside pressure and help ETH avoid deeper pullbacks during broader risk-off periods.

This institutional buying is seen as an important factor in balancing liquidity and strengthening confidence across exchanges.

Derivatives Data Confirms Bullish Sentiment
Traders in the derivatives market are positioning for further gains. Binance reported a long-to-short ratio of 1.8, while top traders displayed higher conviction at 2.7.

Open interest in futures remained elevated near $56 billion. Daily futures volumes climbed 38% to $72 billion, while options activity increased by 50%.

These increases suggest traders are preparing for larger swings in ETH price. Such changes in volume usually indicate heightened conviction and expectations of near-term volatility.

Ethereum’s price remains below a descending resistance trendline traced from the September highs. Clearing this ceiling is considered essential for a larger breakout.

Analysts say a confirmed close above $4,300 would represent a shift in structure, possibly opening a path toward higher targets.

Ethereum ETF inflows provide a strong base for bullish positioning, while derivatives data shows traders are prepared for volatility.

Together, these elements suggest a cautiously optimistic outlook for ETH in the medium term. At present, the ETH price structure appears balanced between clear support and firm resistance.

Sustained institutional buying, coupled with growing derivatives exposure, indicates that Ethereum could test higher targets if momentum carries through.

For now, Ethereum’s next major move depends on continued ETF participation and technical confirmation. Market analysts continue to monitor whether inflows will persist and whether ETH price can finally close above the $4,300 barrier to establish a stronger upward trajectory.

The cryptocurrency market has continued its positive performance this week, with Bitcoin and Ether breaking above key resistance areas. uBitcoin hit the $121k mark for the first time since August, while Ether topped the $4,500 resistance level. Ether could now rally to a new all-time high amid growing whale demand for the cryptocurrency.