Market Signal Briefing

Oct 29, 2025 at 20:31 // Price

Solana price analysis by Coinidol.com.

Solana price long-term prediction: bullish

The Solana price has broken and closed above the 21-day SMA. However, the upward trend is meeting initial resistance at the $200 level. The cryptocurrency price has reversed and found support above the 21-day moving average. If buyers overcome the $200 resistance, Solana will rally to the next resistance at the 50-day SMA. The bullish trend is expected to extend to a high of $237 if the 50-day SMA is surpassed.

However, if the price falls below the 21-day SMA support, the altcoin could drop to a low of $179. Solana is currently valued at $194.

Technical indicators

Key supply zones: $220, $240, $260

Key demand zones: $140, $120, $100

Solana price indicator analysis

The moving average lines are sloping downwards, and the price bars are positioned between them. Bears and bulls are competing for control above the 21-day SMA support. On the 4-hour chart, the price bars have retraced to the moving average lines.

SOL/USD daily chart - October 29, 2025

What is the next move for Solana?

Solana has resumed its upward trend by breaking above the 21-day SMA. However, the bullish momentum has stalled. On the 4-hour chart, the price has risen after retracing to the $190 level. The bullish trend will resume once the resistance is broken.

SOL/USD 4-hour chart - October 29, 2025

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

XRP Surpasses Major Cryptos to Close Q3 2025 at Record HighsAccording to a report by leading crypto market intelligence firm Messari, XRP concluded the third quarter of 2025 as the fourth-largest cryptocurrency by market capitalization, reaching a record quarterly close of $170.3 billion. 

Source: MessariThis represents a remarkable 29% increase quarter-over-quarter (QoQ), a performance that outpaced the combined market capitalization growth of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), which collectively grew by only 13.3% QoQ.

XRP’s price also saw significant gains, rising 29% QoQ to $2.85, marking an all-time high quarterly close. The slight discrepancy between market capitalization growth and price increase is attributed to a 1.4% expansion in XRP’s circulating supply over the period. 

This indicates that the altcoin’s growth was fueled not only by price appreciation but also by a modest increase in supply, reflecting broader adoption and distribution trends.

Year-over-year, XRP’s circulating market cap has surged an astounding 392.6%, up from $34.6 billion at the close of Q3 2024. This exponential growth highlights XRP’s increasing prominence in the cryptocurrency ecosystem and underscores investor confidence in its long-term potential. 

Analysts point to a combination of strong institutional interest, strategic partnerships, and growing utility in cross-border payments as key drivers behind XRP’s remarkable performance.

Interestingly, XRP’s outperformance relative to other leading cryptocurrencies may signal a broader shift in investor sentiment. 

While Bitcoin and Ethereum continue to dominate headlines, XRP’s consistent quarterly growth demonstrates that alternative cryptocurrencies can generate substantial market traction when supported by real-world use cases and robust liquidity.

The report by Messari also emphasizes that XRP’s rise is not solely a short-term phenomenon. The token’s sustained growth in both market cap and price over multiple quarters suggests a solid foundation for future performance, positioning XRP as a major player in the evolving crypto landscape.

What’s the takeaway? Well, XRP’s record-breaking Q3 2025 performance offers both a milestone and a signal: the crypto market remains dynamic, and tokens with strong fundamentals and expanding adoption can outperform even the most established competitors. 

As XRP continues to gain traction, its role in the broader digital asset market is likely to strengthen, cementing its status as a top-tier cryptocurrency.

ConclusionXRP’s record-breaking Q3 2025 performance cements its rising influence in crypto, with market cap and price hitting all-time quarterly highs and year-over-year growth surpassing 390%. 

Outpacing major cryptocurrencies, XRP demonstrates that digital assets with strong fundamentals and real-world utility can capture substantial market share. As adoption and investor confidence grow, XRP is poised to remain a dominant force, presenting compelling opportunities for both long-term investors and market participants.

Bitcoin’s price fell to $109,000 Wednesday afternoon after Federal Reserve Chair Jerome Powell signaled that additional rate cuts may not follow in December. Since then, Bitcoin price has leveled near $111,000.

The drop came shortly after the central bank reduced its benchmark interest rate by 0.25 percentage points to a target range of 3.75%–4%.

The cut — the Fed’s second of 2025 after a move in September — ended a long stretch of rate holds. The policy shift is intended to lower borrowing costs and support economic activity. But Powell’s comments that further cuts are not guaranteed this year sparked selling across risk assets.

Before the announcement, Bitcoin traded near $116,000 on Monday and briefly dipped below $111,000 early Tuesday. The price briefly bounced on the news before sliding again as Powell spoke. Bitcoin is currently trading near $111,200, according to Bitcoin Magazine Pro data.

During the press conference, as Jerome Powell said that December’s rate cuts aren’t guaranteed, Bitcoin’s price immediately reacted — plunging to $109,000 in a sharp red candle before quickly recovering. The broader crypto market reacted similarly. 

Powell said that inflation excluding the impact of tariffs is “not so far” from the central bank’s 2% target, but emphasized that policymakers have “not made a decision about December.” Powell noted that officials held “strongly differing views” during today’s meeting. 

Following his remarks, markets sharply trimmed expectations for another rate cut this year. Fed funds futures now price a 71% chance of a December cut, down from about 90% earlier in the day, according to CME data and on prediction markets like Kalshi and Polymarket.

The two-year Treasury yield jumped 9 basis points as traders reassessed the Fed’s near-term trajectory.

Historically, Bitcoin has reacted sharply to monetary-policy changes. After the Fed’s emergency cuts in March 2020, Bitcoin plunged nearly 39% before recovering. When the Fed cut in September 2025, market reaction was limited — suggesting expectations were already priced in.

Bitcoin price as Fed signals end of Quantitative Tightening Powell also said the central bank is approaching the end of its Quantitative Tightening program, confirming the Fed expects to stop QT by December. This involves letting some holdings of Treasuries and mortgage securities run off the balance sheet as they mature, rather than reinvesting the principal.

QT reduces liquidity by shrinking the Fed’s balance sheet through allowing government bonds to mature without reinvestment or by selling them into the market. 

The process has been underway since 2022, removing nearly $1 trillion in securities as part of efforts to fight inflation.

Ending QT would stop that drain on liquidity — a shift many analysts believe could eventually support flows into risk assets, including Bitcoin. 

Powell warned, however, that policy will remain dependent on economic data, adding further uncertainty to market expectations.

Micah Zimmerman

Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a junior news reporter for Bitcoin Magazine, based in North Carolina.

This month was supposed to be a massive breakthrough for the jaded Bitcoin bulls. 

However, "Uptober" turned into "Floptober," and the leading cryptocurrency is now on track to score its first October in the red since 2018. 

The cryptocurrency reached an intraday low of $110,020 earlier this Wednesday, CoinGecko data shows. 

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According to Polymarket bettors, the odds of the leading cryptocurrency surpassing $130,000 this month currently stand at 0%. 

There is also a 3% chance that Bitcoin will plunge below $100,000 this month. 

Why did 'Uptober' flop?The cryptocurrency started the month on a high note, surging to a new record high. 

However, things quickly turned south for the bulls due to an escalation in trade tensions between the US and China. 

The cryptocurrency market experienced its biggest liquidation event ever, with $19 billion worth of longs and shorts being wiped out after the US announced 100% tariffs on the second-largest economy. 

Bitcoin's plunge undercut the safe-haven narrative, and the cryptocurrency continued to underperform gold. 

Even though the trade tensions between the two superpowers have now diffused, Bitcoin has struggled to recover. 

Pessimistic 2025 predictions Will the bulls be back in the driver's seat this year? Polymarket bettors do not think so. 

In fact, only 46% of them think that Bitcoin will top $130,000 during the remaining two months. 

In the meantime, there is only a 14% chance of BTC topping $150,000 this year. 

That said, "Rich Dad Poor Dad" author Robert Kiyosaki is still convinced that Bitcoin is on track to surpass $250,000 this year. 

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The latest Bitcoin on-chain data reveals a notable development among mid-tier investors known as Dolphins (wallets holding between 100 and 1,000 BTC). These entities, which are seen as the balance between retail traders and institutional whales, have quietly become the most dominant cohort in 2025. 

Their accumulation trend, which started earlier this year, has now reached levels not seen in Bitcoin’s history, and on-chain data shows the sheer amount of confidence in the long-term trajectory of the world’s largest cryptocurrency.

Dolphins Take Control Of The Market
According to Santiment’s on-chain data, Bitcoin Dolphins now hold around 5.16 million BTC, representing about 26% of the total circulating supply. This share is larger than that of both smaller retail holders (Shrimps and Crabs) and large-scale investors (Whales and Humpbacks). The steady rise in their holdings since early 2025 points to deliberate and sustained accumulation during periods of market consolidation.

The chart below clearly illustrates this behavior, showing a smooth upward trend in Dolphin balances from late April through October 2025. Each brief pause in the curve is highlighted accumulation during minor corrections, meaning that these holders have been taking advantage of price pullbacks to strengthen their positions. This slow but consistent buildup indicates growing conviction rather than speculative trading activity.

 Total Holdings Of Bitcoin Dolphin Addresses. Source: Santiment

The numbers show that Dolphins have accumulated more than 681,000 BTC so far this year. This increase highlights how this group has become the most important in terms of Bitcoin’s supply dynamics. Whales and Humpbacks have shown less aggressive behavior, while Dolphins appear to be absorbing a large portion of the available coins. 

This increasing trend among Dolphin wallets is much more interesting when looked at in comparison with whale addresses, that is, addresses holding between 1,000 BTC and 10,000 BTC. Data from Santiment shows that addresses that fall into this cohort have seen their collective holdings falling since April, falling from 4.58 million BTC in April to 4.2 million BTC at the time of writing, as shown in the image below.

Bitcoin Balance By Addresses. Source: Santiment

Impact On Bitcoin’s Price Structure
The rise of Dolphins is a positive shift in Bitcoin’s ownership structure. Unlike Whales, whose movements can cause short-term price swings, Dolphins represent a larger group of strategic investors with a longer-term outlook. 

Currently, there are about 17,771 addresses within this category, each holding between 100 BTC and 1,000 BTC, and together they account for 25.82% of Bitcoin’s circulating supply. Their collective control of more than a quarter of all Bitcoin suggests a gradual decentralization of supply away from a few dominant holders.

On the other hand, there are 1,971 addresses holding between 1,000 BTC and 10,000 BTC, translating to about 21.32% of the total circulating supply. This data reflects a healthier market balance between institutional and large retail participation.

Bitcoin Balance By Addresses. Source: @nehalzzzz1 on X

At the time of writing, Bitcoin is trading at $113,345.

BTC struggles to hold support | Source: BTCUSD on Tradingview.com
Featured image created with Dall.E, 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.

TIS Inc., Japan’s largest payments processor, has moved into tokenized finance by launching a Multi-Token Platform on Avalanche’s AvaCloud, according to company announcements and industry reports.

The platform is built to support stablecoins, tokenized deposits and digital securities for banks and large firms. This is a step that could change how some institutional payments settle inside Japan.

TIS Brings Existing Scale To Tokens
According to filings and company material, TIS’s PayCierge system now handles more than ¥300 trillion in annual B2C payments. That figure could top ¥1,000 trillion if more B2B and payroll flows move on-chain, based on the firm’s internal forecasts.

TIS is not small: it handles nearly half of domestic credit card processing and supports more than 80% of branded debit accounts.

Reports show 11 of Japan’s leading 25 credit card issuers use TIS systems, which together serve nearly 200 million customers. Those ties give the new token platform a ready set of potential partners.

This is a big deal.

The company that powers ~50% of Japan’s credit card payments, TIS, just deployed on Avalanche🧵: pic.twitter.com/kyTFSKoYdo

— Avalanche🔺 (@avax) October 28, 2025

Why The Cloud Chain Was Chosen
Reports have disclosed that TIS opted to use AvaCloud so it can deploy blockchains without building and running its own infrastructure.

AvaCloud is described as offering automated scaling, real-time governance features and the reliability needed for regulated finance.

https://t.co/gNU4ZrcK8r

— Avalanche🔺 (@avax) October 28, 2025

Avalanche’s fast finality and cross-chain tools were cited as reasons TIS can aim for real-time, programmable settlement between institutions.

The move means responsibility for the underlying cloud and node operations will be shared with the Avalanche service.

Links To Yen Stablecoins And Reserve Models
JPYC has put forward what it calls the first fully redeemable yen-backed stablecoin, claiming backing from domestic deposits and Japanese government bonds (JGBs).

JPYC has said it charges no transaction fees and that it earns revenue from JGB interest. That kind of model is one of the examples of how tokenized yen instruments might be structured on platforms such as TIS’s.

AVAX market cap currently at $8.4 billion. Chart: TradingView
What This Could Mean For Banks And Corporates
Banks and corporations may be able to run tokenized deposits or securities on the Multi-Token Platform if they join pilots or production programs.

That said, adoption will require clear rules about backing, custody and how tokens are redeemed into yen. Some of these details are being discussed now between issuers, service providers and market observers.

Deployment has already begun in production, according to the announcements, but broad use will take time.

Featured image from Yellow, chart from TradingView

TLDR

The Ethereum Foundation has launched a new portal focused on institutional adoption.
The portal highlights Ethereum’s 10-year uptime and positions it as a secure financial infrastructure.
Ethereum is presented as a neutral settlement layer for global financial operations.
The Ethereum Foundation created an Enterprise Acceleration team to support business onboarding.
The portal focuses on use cases such as stablecoins, DeFi, privacy, and scalable Layer 2 networks.
BlackRock’s tokenized fund is featured to demonstrate existing institutional engagement with Ethereum.

The Ethereum Foundation has launched a dedicated portal for institutions to encourage wider financial adoption. The site positions Ethereum as a secure and scalable platform for traditional finance.

Ethereum Foundation Targets Global Capital
The Ethereum Foundation introduced a new website tailored for institutional users and financial entities. The site emphasizes the chain’s reliable 10-year operational record.

It presents Ethereum as a neutral settlement layer for on-chain financial operations. The Foundation describes Ethereum as “a secure and reliable infrastructure for modern finance.”

This move aligns with Ethereum’s long-term vision to bring global financial flows on-chain. The Ethereum Foundation aims to serve both crypto-native and traditional entities.

Enterprise Outreach and Financial Use Cases
The Ethereum Foundation launched an Enterprise Acceleration team to support business integration. The team helps companies explore real-world use cases on Ethereum.

The portal lists use cases such as stablecoins, decentralized finance (DeFi), privacy layers, and scalable Layer 2 solutions. It avoids gaming and NFT content, focusing solely on institutional-grade applications.

The Ethereum Foundation highlights institutional activity, such as BlackRock’s tokenized fund. This demonstrates growing interest in Ethereum-based financial instruments.

The Foundation confirmed that Ethereum is not a security under U.S. regulation. The Foundation is based on Swiss law and operates as a legal foundation.

Ethereum continues technical upgrades alongside its institutional outreach. The chain is now testing its next major update, Fusaka, on the Hoodi testnet.

The Fusaka upgrade will raise the block gas limit to 150 million. This increase enables more on-chain computation and transaction throughput.

The Ethereum Foundation plans to finalize the upgrade before December. This marks the final phase before deployment on the mainnet.

Boost to Layer 2 and DeFi Efficiency
The increased gas limit benefits Layer 2 rollups. These rollups will have more room for secure anchoring and batch processing. The upgrade supports cheaper Layer 2 operations by reducing overhead on Ethereum. It also helps scale decentralized applications more efficiently.

Ethereum’s stability over the past few years strengthens its appeal. DeFi platforms now face fewer risks from congestion or fee spikes. The Ethereum Foundation highlights Ethereum’s steady performance. The chain’s uptime and resilience are key to supporting institutional-grade operations. Ethereum now processes high transaction volumes without delays. The network supports billions in value across stablecoins and DeFi platforms.

The Ethereum Foundation continues its marketing shift from niche projects to global capital. The institutional site reflects this strategy change. The site simplifies Ethereum’s core offerings for enterprises. It focuses on regulatory clarity, scalability, and real-world applications. Ethereum Foundation now balances technical development and outreach. This approach aims to grow Ethereum’s presence in global finance.

OKX is set to launch USDT-margined perpetual futures for ENSO and OL, enhancing crypto trading options with leverage up to 50x. Trading opens on October 29, 2025.

On today's episode of CNBC Crypto World, bitcoin and ether turn lower as the Fed announces another quarter-point cut to rates. Plus, Grammy Award-winning artist Wyclef Jean and Circle's chief commercial officer discuss their initiative to show real-world uses cases of stablecoins around the world.

Two months before the LIBRA scandal, Milei allegedly joined the same promoters in launching the KIP token, using a similar pump-and-dump model.Blockchain data links key figures Novelli and Terrones Godoy through wallets transferring over 150,000 USDT during the KIP launch.The KIP project, backed by Milei’s public endorsement, tested how political influence could drive token prices ahead of the larger LIBRA fraud.The Argentine congressional commission investigating President Javier Milei revealed evidence showing that two months before the LIBRA scandal, Milei had already participated in a nearly identical scheme.

The same promoters who collaborated with Milei on LIBRA in February were also involved in the earlier KIP launch.

Earlier Scheme SurfacesThe latest phase of the LIBRA investigation uncovered Milei’s prior involvement in another token launch that was connected to figures already under scrutiny by Argentine authorities.

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At Tuesday’s congressional session in Buenos Aires, Maximiliano Ferraro, the leader of the investigative committee, pointed to the December debut of the KIP token, spearheaded by KIP Protocol founder Julian Peh.

🚨 $LIBRA: MILEI, NOVELLI TERRONES GODOY HICIERON LO MISMO DOS MESES ANTES CON $KIP.

Hoy pudimos confirmar y demostrar que dos meses antes de la criptomoneda $LIBRA, Javier Milei ya había participado de una operatoria idéntica, con los mismos socios y el mismo esquema de… pic.twitter.com/Ad3u0u1nJy

— maxi ferraro 🎗️ (@maxiferraro) October 28, 2025
Ferraro highlighted the involvement of investors Mauricio Novelli and Manuel Terrones Godoy, key figures in both operations.

The commission also confirmed that data from centralized exchanges revealed a direct money trail linking the same individuals to the earlier KIP launch.

“The investigation identified a wallet on the Gate.io exchange, belonging to Terrones Godoy, from which 59,992 USDT were transferred to a Novelli account, previously linked to the $LIBRA scam. That same night, December 10, 2024, [Terrones] Godoy made additional transfers from that account totaling more than 92,000 USDT,” the press release first accessed by BeInCrypto read.

Ferraro also spotlighted the extensive ties that Novelli, Terrones Godoy, Peh, and Milei have maintained over the past year.

Connections Traced Back to the Tech ForumLast October, the Buenos Aires city government sponsored the Argentina Tech Forum. During this event, Peh and Milei gave individual conferences before public officials and advisors close to the President. 

There, Peh was able to establish contact with Milei and his sister Karina Milei.

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This institutional support gave Peh’s KIP Protocol the credibility it needed to launch the KIP token in December. The token debuted under a contract with Gate.io and was subsequently listed on KuCoin and MEXC.

The operation followed the same pump-and-dump model later seen with LIBRA. They launched a token with no real utility, leveraging political momentum to drive up its value and then cashing out at the peak to secure massive profits.

According to the information provided by the platform, investigators detected that Terrones Godoy and Novelli both bought KIP tokens before the price surge. They then sold them to generate 600,000 dollars in a single day. 

Ferraro also confirmed the movement of money between Novelli and Terrones Godoy, happening at the same time.

“Terrones Godoy’s wallet received (without paying for them) 6,750,000 KIP tokens and immediately began selling them. Hours after initiating the liquidation, Terrones Godoy posted a tweet promoting KIP. In total, the account executed over 400 transactions and withdrew over 152,700 USDT in just 15 minutes that night, funds that include the money sent to Novelli,” the commission’s press release read.

Milei also used the KIP launch as a testing ground, setting the stage for what would later unfold in a strikingly similar way with the LIBRA launch in February.

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KIP Pilot as Test for LIBRA LaunchTwo days before the KIP launch, Milei shared a post from Peh on social media announcing that KIP Protocol had decided to invest in Argentina.

Martín Romeo, the plaintiff in the criminal case against Milei, claimed that the operation acted as a test to gauge how presidential endorsement could influence the price of a meme coin.

The result was immediate. When KIP launched, its price skyrocketed, and Novelli and Terrones Godoy sold their KIP holdings. 

“Everything we see today with LIBRA started with KIP. A pilot-scale fraud that, months later, was repeated with political support and millions of dollars in lost investor money,” Romeo said in a social media post, adding, “Everything is documented. It all started at the Tech Forum at the Libertador Hotel.”

Other interesting details regarding Peh also emerged during Tuesday’s congressional session.

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Evidence of Identity Fraud and Next StepsFerraro and other committee members refloated the previous discovery that KIP Protocol founder Julian Peh operated under a false identity. 

They confirmed that his real name is Peh Chnyi Haur, a Singaporean citizen who used the alias to attend October’s Tech Forum. Under this name, Peh also met privately with Milei, participated in official meetings, circulated supposed government agreements, and signed documents.

When the courts sought information from Interpol Singapore, they found no records under his alias.

Ahora $Libra: la oficina de Interpol en Singapur le respondió al fiscal Taiano que Julian Peh no existe. O sea que dejaron entrar a la Casa Rosada a un fantasma que se reunió con Javier Gerardo Milei. En EE UU están pensando en pedir un exhorto por este sujeto. @BurwickLaw 👇 pic.twitter.com/QRtKJiE19l

— Juan Alonso (@jotaalonso) August 6, 2025
Ferraro also unveiled the next steps that the congressional committee will take to investigate. Soliciting further information from different platforms was among the top priorities.

“The Commission has requested Gate.io to identify the owner of one of the receiving accounts, which moved 120,000 USDT in the early morning when the $LIBRA scam was executed,” the press release read. 

He added that congressional summonses for Novelli’s family members would be reissued in connection with security footage showing Novelli, his mother, and sister handling safety deposit boxes before and after the token’s launch.

Ferraro also pledged to submit all evidence collected by the congressional commission to the court handling the parallel criminal investigation.

Disclaimer

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Solana Company reports a 1M increase in $SOL holdings to 2.3M and a 7.03% staking yield, outperforming validator benchmarks in October. Solana Company updates $SOL holdings with 1M token increase.

TL;DR

The Fed reduces rates by 25 basis points (to 3.75%-4.00%), the first cut since 2023.
The central bank also announced the end of “Quantitative Tightening” (QT) by December 1.
Bitcoin reacted cautiously, trading just above $111,160.

The U.S. Federal Reserve (Fed) announced a significant pivot in its monetary policy this Wednesday, cutting interest rates by 25 basis points. The new target range is set between 3.75% and 4.00%, marking the first rate reduction since 2023.

Simultaneously, the Fed confirmed it will end its quantitative tightening (QT) program on December 1, thereby halting its balance sheet reduction.

This move marks a clear rebound from the central bank’s previous focus, which was centered on curbing inflation through tighter liquidity.

According to the FOMC statement, policymakers acted in response to slowing inflation, weakening labor conditions, and rising downside risks to employment.

Although they noted that inflation remains above the 2% target, they stated that the “balance of risks” has now shifted in favor of supporting growth.

Market Reaction and the Impact of the Rate Cut on Bitcoin
The initial reaction in the cryptocurrency markets was cautious. Following the announcement, the price of Bitcoin (BTC) showed little volatility, remaining stable. According to CoinMarketCap data at the time of writing, BTC is trading around $111,160, while Ethereum (ETH) is hovering around $3,966. The Fear and Greed Index fell to 39 (“Fear”), reflecting investor caution despite the policy change.

Historically, a lower interest rate environment and the end of QT are positive for risk assets like cryptocurrencies, as they inject fresh liquidity into global markets.

The impact of the rate cut on Bitcoin could be reflected in a revival of ETF inflows and increased demand for stablecoins, as investors rebalance their portfolios in response to a more dovish Fed stance.

However, the Fed’s reference to “elevated uncertainty” indicates that volatility may persist. Traders are awaiting Jerome Powell’s press conference to confirm if this is the beginning of a sustained easing cycle.

What Bitcoin Chart Says About BTC Price After Powell Casts Doubt on December Cut?BTC is down but not out following Powell's hakwish commentary on rates. Oct 29, 2025, 7:49 p.m.

This is a technical analysis post by CoinDesk analyst and Chartered Market Technician Omkar Godbole.

Bitcoin BTC$113,421.04 is down but not out following Federal Reserve Chairman Jerome Powell's latest hawkish remarks, which challenged expectations around a December rate cut.

That's the message from the price chart, which shows that although BTC is facing selling pressure likely in response to Powell downplaying additional easing in December, prices still remain above the critical 200-day simple moving average (SMA) near $109,250. As of writing, BTC changed hands at $111,000, bouncing off the key average.

Holding above the 200-day simple moving average (SMA), a long-term barometer of the market trend, is encouraging for the bulls, but is it enough? The likely answer is no.

That's because prices remain well below the Ichimoku cloud, a widely used technical indicator that helps gauge short-term market trends. Traders generally consider trading below the cloud as bearish in the short term.

BTC's daily chart. (TradingView)

The longer bitcoin remains below the cloud, the greater the risk of a breakdown below the 200-day SMA, which would open the door for a drop below the psychologically important $100,000 level. This is precisely how things played out in February, leading to a more pronounced decline in the following weeks, when prices slid to $75,000.

This downside risk is reinforced by two factors: the bullish crossover of the dollar index's 50- and 100-day SMAs, which hints at continued USD strength ahead and may lead to a bullish double-bottom breakout, marking the end of the broader downtrend since January.

Meanwhile, the 10-year Treasury yield has rebounded above 4%, confirming the exhaustion of the downtrend, as signaled by consecutive long-wicked weekly candles. Hardening of yields at the long-end of the curve typically strengthens the dollar and weighs on risk assets.

Dollar index and 10-year Treasury yield charts. (TradingView)

Note that post-Fed, BTC puts listed on Deribit are once again trading at a 4%-5% volatility premium at the front end, according to data source Amberdata. Its indicating of strengthening downside fears.

Taken together, these factors counsel caution for bitcoin bulls, with a decisive break above the Ichimoku cloud at $116,000 needed to restore bullish confidence and set the stage for further gains.

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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Bitcoin Tumbles Back to $110K on Fed's Powell's Hawkish Comments

Though acknowledging growing weakness in the labor market, Powell said a December rate cut is not a "foregone conclusion."

What to know:

Fed Chair Jerome Powell was unexpectedly hawkish in his press conference Wednesday, suggesting markets are way ahead of themselves in pricing in a December rate cut.The news sent markets lower, bitcoin among them, now down 5% over the past 24 hours and below $110,000.Read full story

The Federal Reserve delivered a 25-basis-point rate cut to 3.75%-4% and announced an end to quantitative tightening on December 1, sparking immediate crypto market volatility before Bitcoin stabilized above $112,000 with analysts eyeing near-term correction risks.

Evernorth has emerged as the latest powerhouse in institutional crypto accumulation, closing in on its ambitious XRP treasury goal. In just a few days, the firm has reached 95% of its accumulation target, marking a major milestone in XRP’s journey toward broader institutional adoption. The rapid growth of Evernorth’s reserves and its strategic partnerships has sparked renewed excitement across the XRP community, signaling what could be a pivotal shift in how institutions engage with the cryptocurrency. 

Evernorth Nears $1 Billion In XRP Holdings
A new report from CryptoQuant has revealed that Evernorth’s XRP holdings is now nearing the $1 billion funding milestone, positioning it among the top institutional holders of the cryptocurrency. According to JA Maartunn, a community analyst at CryptoQuant, Evernorth currently holds 388,710,606.03 XRP, reaching 95% of its $1 billion target. 

The company’s total XRP treasury is now valued at approximately $947,183,571, with unrealized profits of roughly $46 million generated in four days. This figure reflects an average purchase price of $2.44 per XRP, which Maartunn believes could become a defining price level for the cryptocurrency’s market trajectory.

Source: Chart from Evernorth on X
 Notably, Evernorth’s XRP treasury comes amid a broader trend of institutional diversification toward digital assets. Earlier this year, several major crypto treasury institutions—most notably Strategy, with its aggressive Bitcoin accumulation strategy, and The Ether Machine, with its dedicated focus on Ethereum—set the tone for large-scale crypto accumulation. 

Evernorth’s expanding holdings signal a decisive shift beyond BTC and ETH, underscoring a maturing institutional demand for alternative layer-1 assets. It also suggests that XRP may become the next frontier for institutional treasuries seeking exposure to high-liquidity, regulated crypto assets.

Evernorth’s XRP Growth Strategy 
Asheesh Birla, the CEO of Evernorth, introduced the treasury company last week, on October 20, through an X post. He described it as an institutional vehicle built to propel XRP’s global adoption. The announcement detailed the company’s plans to go public through a SPAC merger with Armada Acquisition Corp II (NASDAQ:AACI), targeting gross proceeds of more than $1 billion.

Evernorth’s growth strategy includes acquiring XRP through innovative financial structures designed to maximize XRP per share and expanding internationally into key markets like Japan and South Korea. The company also plans to diversify its yield generation through risk-mitigated treasury deployment. These initiatives reflect a deliberate, structured approach toward building a long-term institutional presence around XRP.

Ripple CEO Brad Garlinghouse has also praised Birla’s initiative, noting Ripple’s partnership and investment alongside prominent firms such as SBI Holdings, Pantera Capital, Kraken, GSR, and Rippleworks. Garlinghouse said that Evernorth’s participation in institutional lending, liquidity provision, and DeFi yield opportunities will be instrumental in expanding XRP’s utility. Ripple’s CTO, David Schwartz, who joins Evernorth as a strategic advisor, echoed this sentiment, expressing enthusiasm for building scalable opportunities for XRP across DeFi and capital markets.

XRP trading at $2.65 on the 1D chart | Source: XRPUSDT on Tradingview.com
Featured image from Adobe Stock, chart from Tradingview.com

4 minutes ago

A Chinese blockchain event was reportedly cut short on Tuesday due to overcrowding, but some attendees expressed concerns over the country's recent crackdowns.

37

Some members of Solana’s Chinese community have reportedly expressed concerns that attendees were denied entry to a blockchain event as the country continues its crackdown on digital assets.

According to a Wednesday report from the South China Morning Post, the Solana Accelerate APAC series event being held in Shenzhen on Tuesday was cut short amid claims of overcrowding, “leading the local police to conduct an inquiry on site.”

Event organizers confirmed the venue had exceeded capacity and canceled the final hackathon “for public safety,” per the report. The police presence, however, reignited concerns on social media, with attendees reportedly expressing concerns about the country’s enforcement of crypto and blockchain.

Leadership with the People’s Bank of China said on Monday that authorities would work with law enforcement to crack down on cryptocurrency, particularly in regard to speculative activities. Cointelegraph reached out to the Solana Foundation for comment but had not received a response at the time of publication.

The network, launched in 2020 by Solana Labs, has grown to become one of the most active blockchains in the crypto industry.

Solana ETFs at center stage in the USIn the United States, some asset management companies are beginning to accelerate listings of exchange-traded funds tied to Solana (SOL). Grayscale Investments announced on Wednesday that it had launched its staking-enabled Solana ETF on NYSE Arca, and Bitwise’s Solana ETF debuted on Tuesday with about $223 million in assets.

According to data from Nansen, the price of SOL rose about 7% in the last seven days, from $177.80 to $194.08 at the time of publication.

Magazine: Solana vs Ethereum ETFs, Facebook’s influence on Bitwise: Hunter Horsley

In brief
Elizabeth Warren and Bernie Sanders warned that Trump’s plan to let 401(k)s invest in crypto could jeopardize Americans’ retirement savings.
In a letter to the SEC and Department of Labor, they called the policy “dangerous,” citing crypto’s volatility and Trump’s potential conflicts of interest.
The senators asked whether agencies have studied the risks of their new retirement policies, or how much Trump’s family could profit from them.
Elizabeth Warren and Bernie Sanders are sounding the alarm on the “financial harm” they say could be unleashed on millions of Americans if the retirement industry heeds President Donald Trump’s recommendations and exposes 401(k) plans to riskier assets, including crypto.

In a letter sent to SEC chair Paul Atkins and Labor Secretary Lori Chavez-DeRemer this week, the progressive senators warned that recent moves by the Trump administration to encourage 401(k) providers to invest Americans’ retirement savings in crypto and private markets could have devastating consequences.

The letter underscored not just President Trump’s recent executive order encouraging the retirement savings industry to embrace crypto, but also the Department of Labor’s rescinding of Biden-era policies advising 401(k) caution when mulling exposure to higher-risk assets like private market funds and crypto-exposed stocks and ETPs.

Senators Ron Wyden (D-OR), Dick Durbin (D-IL), Jeff Merkley (D-OR), Chris Murphy (D-CT), and Tina Smith (D-MN) also signed the letter.

“[The Department of Labor] is currently working to legitimize these financial products as safe investments to save for retirement,” the senators wrote. “This reversal is troubling as American workers rely on their retirement savings to live in dignity and self-reliance as they age; thus, added protections are rightfully applied to retirement savings plans.”

The letter highlighted concerns raised by prior government studies about how crypto investments differ from other forms of investment typically relied on by retirement accounts to generate sturdy savings.

One such study by the Government Accountability Office (GAO) found that because crypto tokens do not produce any cash flow, they do not generate returns for investors, and thus can only generate profit when sold back for a higher price. It’s a dynamic the office said made future crypto prices near-impossible to predict, and appeared “much more like gambling than a productive investment.”

The letter also noted President Trump’s direct exposure to crypto, and the likelihood that a massive investment into crypto by the $31 trillion retirement savings industry could directly benefit him and his family. Indeed, analysts have predicted that should 401(k) providers embrace crypto as the president has asked them to, the development could send billions upon billions of dollars into the digital asset sector in a matter of years. 

“How can the American people trust the advice they get from an administration that stands to potentially further profit by this move?” the senators said. 

The group of Senate Democrats has asked the heads of the SEC and Labor Department to provide them with information in the coming weeks regarding its considerations of the risks posed by its new, “dangerous” retirement savings policies. 

The senators asked, among other things, whether the Labor Department intends to weaken existing rules about the due diligence required of fiduciaries; whether the department has studied the risks posed to retail investors should their savings be invested in crypto and private markets; and whether it has conducted any investigation into how much the Trump family stands to profit from these new policies.

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TLDR:

HumidiFi will issue its WET token through Jupiter’s ICO platform DTF on October 30 via Solana network.
Jupiter’s new community-funded token sale platform DTF gives exclusive access to JUP stakers and permissioned capital raising.
HumidiFi, a Solana dark-pool trading platform, handled around $34 billion in transaction volume last month on chain.
The WET token launch signals new capital flow into Solana-based token sales and growth of decentralized token formation.

A new token sale is heading to the Solana network. The trading platform HumidiFi will release its WET token via the ICO platform of Jupiter Exchange, named DTF. This marks one of the first projects on Jupiter’s dedicated token formation system. 

The release is scheduled for October 30. Data from on-chain analytics firm Lookonchain supports the timing and details. Crypto investors and enthusiasts are watching for how the token sale and its structure will affect Solana ecosystem flows.

Token Sale via Jupiter’s Platform and Price Mechanics
Jupiter Exchange announced the creation of the decentralized token formation platform DTF for community-funded projects. 

According to Lookonchain, HumidiFi will be the first project to issue its WET token through this system. The platform offers permissioned capital raising and grants exclusive access to JUP stakers. Investors will likely need to hold JUP tokens to participate. 

While no public price for WET was disclosed yet, the structure implies a controlled token sale rather than open sprint. The launch through Solana’s ecosystem means traders may anticipate the token receipt, listing dynamics and eventual price discovery.

HumidiFi’s Role, Solana & Crypto Ecosystem Impacts
HumidiFi claims a position as a dark-pool trading platform within the Solana ecosystem. Lookonchain data says HumidiFi handled roughly $34 billion in on-chain transaction volume in the past month. 

Dark-pool automated market makers (AMMs) operate behind the scenes and route trades via aggregators like Jupiter rather than open public liquidity pools. Through the token sale, HumidiFi may align its governance or utility token FWET with platform growth. 

Consequently, Solana-based crypto traders and ecosystem participants may view this as a fresh token investment route. The launch also underscores how token sales and price mechanisms continue advancing in DeFi and crypto token-sales models.

Telegram will become the first major client for its own Cocoon network. This move pledges the platform’s immense user base and query volume to bootstrap a new economy for private AI inference on the TON blockchain.

Summary

Telegram unveiled Cocoon, a decentralized AI inference network built on TON.
Developers can access GPU power and pay with TON tokens; GPU owners earn by contributing compute.
AlphaTON Capital backed the rollout with global GPU infrastructure to power private, onchain AI computation.

On Oct. 29, Telegram CEO Pavel Durov took the stage at the Blockchain Life conference in Dubai to unveil Cocoon, a decentralized network built to process artificial intelligence queries privately on the TON blockchain.

Durov said the system will connect developers seeking compute power with GPU owners willing to lend it, rewarding them in Toncoin (TON) tokens for executing inference tasks. Telegram, which plans to be Cocoon’s first large-scale user, will route portions of its own AI workloads through the network and promote the platform to its global audience of more than a billion users.

Telegram builds a decentralized bridge between AI and blockchain
The Dubai announcement was not the first glimpse of Telegram’s AI ambitions. Durov initially teased the project just weeks earlier during an October trip to Kazakhstan, where he introduced a dedicated AI laboratory.

At that time, he revealed Telegram had spent months developing technology at the intersection of blockchain and artificial intelligence, framing it as a necessary step to offer confidential and transparent AI to the platform’s billion-plus users.

For the network to function, Cocoon requires a ready pool of participants. According to its official channel, the onboarding process is now live. Application developers seeking to use the network can directly message the channel, specifying the AI model architecture they plan to run, such as DeepSeek or Qwen. They are also required to provide their expected daily query volume and average token size for inputs and outputs.

On the supply side, GPU owners looking to earn TON tokens for their computational power must detail their hardware capabilities. The channel requests specifics on the number of GPUs available, their model type, VRAM capacity, and expected uptime.

AlphaTON Capital backs Cocoon network
Shortly after Durov’s announcement, AlphaTON Capital confirmed its strategic investment in high-performance GPU infrastructure to support Cocoon’s rollout. The Nasdaq-listed firm, known for its deep involvement in the TON ecosystem, said it would deploy advanced GPU fleets across global data centers to provide the computational backbone for the network.

CEO Brittany Kaiser called the launch a “pivotal moment in the convergence of blockchain technology, data protection and artificial intelligence,” committing the firm as a “cornerstone contributor” to the ecosystem. Executive Chairman Enzo Villani emphasized that “privacy and security are paramount in the AI era,” stating that Cocoon’s architecture meets a critical market need.

This week, Tether—the world's heavyweight in stablecoin issuance—rolled out its latest attestation report for XAUT, the company's gold-backed digital token. The glittering takeaway? XAUT's total market cap just struck $2 billion, claiming nearly 54% of the $3.71 billion tied up in gold-pegged assets. Tether's XAUT Hits $2 Billion as Gold Token Market Shines at $3.

For years, Solana was seen as crypto’s fast but fragile alternative to Ethereum, which was admired for its speed but dismissed as untested.

However, that perception shifted dramatically this week.

Record launchOn Oct. 28, Bitwise’s Solana Staking ETF (BSOL) debuted with $69 million in first-day inflows, the strongest launch among roughly 850 ETFs introduced this year, according to SosoValue data.

In addition, the fund generated $57.9 million in trading volume, outperforming all other ETF launches this year.

Bitwise Solana ETF (Source: SoSo Value)ETF inflows capture new money entering a fund, while trading volume measures investor participation. Both indicators matter because high inflows without trading activity can suggest internal seeding rather than genuine demand.

Considering BSOL posted strong figures on both counts, this shows a sign of genuine, diversified investor interest rather than passive seeding or speculative noise.

Due to this, Bloomberg’s Eric Balchunas described the Solana ETF debut as “a strong start,” while pointing out that BSOL had a $220 million seed.

According to him, the fund’s first-day performance could have reached $280 million if the seed was fully deployed on day one. This would help it potentially eclipse BlackRock’s Ethereum ETF first-trading-day performance.

Regardless, the $220 million seed helped lift BSOL’s net asset value to $289 million, placing it ahead of several Ethereum and Bitcoin ETFs in US market rankings. For context, it took several months for early ETH ETF products to reach similar activity levels.

US Crypto ETFs Ranking by AuM. (Source: Tom Wan)Why the Solana ETF performed stronglyBSOL outperformed its peers because it offered something most crypto ETFs still lack: yield combined with exposure.

Unlike traditional ETFs, which simply track price, BSOL’s structure allows investors to earn staking rewards and potential price appreciation.

Roughly 82% of its Solana holdings are already staked through Helius Labs, with a goal of reaching 100%. This translates to an average 7% annual yield, allowing institutions to participate in Solana’s native economics without the operational burden of self-custody or node management.

Beyond yield, Solana’s strong fundamentals amplified demand.

The network has delivered near-perfect uptime since early 2024, its DeFi total value locked has tripled year-to-date, and transaction volumes regularly exceed those on Ethereum.

That combination of high throughput, low fees, and real on-chain activity positioned Solana as the most revenue-generating Layer-1 blockchain.

Considering this, Matt Hougan, Chief Investment Officer at Bitwise, said:

“Institutional investors love ETFs, and they love revenue. Solana has the most revenue of any blockchain. Therefore, institutional investors love Solana ETFs.”

In short, BSOL succeeded because it translated Solana’s on-chain efficiency and staking income into a regulated, yield-bearing financial product.

How Solana ETFs Could Impact SOL PriceIf history is any guide, Solana’s price could experience a sustained revaluation phase following the launch of its ETF, much like Bitcoin and Ethereum did after their respective approvals.

Data from K33 Research shows a strong correlation (R² = 0.80) between Bitcoin ETF flows and 30-day BTC returns, meaning ETF inflows explain roughly 80% of Bitcoin’s price variance.

Notably, Ethereum ETFs displayed similar behavior, with analysts noting that its reduced circulating supply and negative net issuance made ETH more price-sensitive to capital inflows than BTC.

Solana’s conditions could magnify that effect. Roughly 70% of SOL’s circulating supply is already staked, locking it away from exchanges. With Bitwise’s BSOL ETF targeting 100% staking of its holdings, available liquidity will tighten further as institutional demand scales.

This means every new dollar entering Solana ETFs will exert upward pressure on price due to a thinner supply base.

So, if the ETFs follow market analysts’ predictions that they could generate between $5-8 billion in new capital entering the Solana ecosystem, this could potentially drive a 60–120% price appreciation under similar elasticity assumptions used for Bitcoin and Ethereum.

Moreover, the fundamentals surrounding SOL further strengthen this outlook.

Galaxy Research describes Solana as having transitioned from a speculative asset into an “infrastructure play,” anchoring the Internet of Capital Markets, a system designed to support real-world asset tokenization, DeFi, and consumer-grade financial rails.

This narrative aligns perfectly with institutional mandates seeking scalable, yield-generating blockchain exposure.

In short, if the ETF inflows sustain and on-chain fundamentals remain robust, SOL could realistically reach $500 and above within the next cycle.

Mentioned in this article

The crypto markets are bracing for major volatility as $17B Bitcoin, Ethereum options are set to expire on Friday.

Summary

Over $17 billion worth of Bitcoin and Ethereum options contracts expire on Friday
Out-of-the-money options dominate trader holdings, at 82.5% of open interest
Timing overlaps with major macro events, which could amplify volatility

Crypto markets are bracing for a major volatility-inducing event. On Friday, October 31, over $17 billion worth of Bitcoin and Ethereum options contracts are set to expire on the crypto derivatives exchange Deribit.

For Bitcoin (BTC), 72,716 BTC call option contracts and 54,945 BTC put option contracts, worth a total of $14.4 billion, will expire on Friday. On the other hand, $2.6 billion in Ethereum (ETH) options are set to expire the same day.

Bitcoin options expiry and open interest, showing peaks on October 31 and December 26 | Source: Coinglass
As calls dominate puts, traders are betting that BTC will go up before the expiry. Notably, for Bitcoin, the maximum pain level is at $114,000, which is the level where most options will be worthless. This is significant, as market makers can hedge in a way that pulls the price toward this level, especially near expiry.

For traders, there is a clear preference for speculative positioning. 82.5% of the options contracts are out-of-the-money, which means that traders do not hedge their positions. Instead, these options are bets on the future price of BTC and ETH.

Bitcoin, Ethereum options expiry could trigger volatility
Options expiry events typically increase volatility in the market. They can trigger large spot market moves as traders unwind their positions and rebalance their portfolios. This effect is even greater when there is a large amount of out-of-the-money options.

The event also coincides with major macro events, including the FOMC interest rate decision and major company earnings. These events could further amplify short-term volatility in the market.

Wed, 29/10/2025 - 18:41

The Solana ETF launched by Bitwise on Tuesday is already off to a good start as it achieves a notable $69.5 million in first-day inflows.

Cover image via U.Today

The Solana ETF issued by Bitwise is already off to a good start after news of its launch garnered attention across the crypto space yesterday. The investment product tied to the leading altcoin has not only gained hype but has already begun to record massive inflows a few hours after launch.

Data provided by Farside Investors shows that the Bitwise Solana ETF (BSOL) recorded $69.5 million in inflows on October 28, its first day of trading. This highlights strong institutional interest in Solana as the asset becomes the center of attention.

The impressive performance posted by BSOL has stirred discussion, as it has posted the highest first-day trading volume among over 800 ETFs that have launched this year, according to an ETF Institute representative, Nate Geraci.

HOT Stories

Bitwise spot sol ETF posts highest day 1 trading volume out of some 850 ETF launches this year (h/t @EricBalchunas)...

Who could have seen this coming?

Spot xrp ETFs will likely see similar reception, if not greater. https://t.co/vmFsJu0o36

— Nate Geraci (@NateGeraci) October 28, 2025 BSOL as first SOL ETF in the USAlthough the U.S. government shutdown is yet to come to an end, an order passed by the Securities and Exchange Commission (SEC) prior to the shutdown has made the process easy for all ETF applications.

The order, which allows easy approval of ETF filings without the need for an intermediate review but on the condition that they meet the requirements of the S-1 forms, has made the launch of the Bitwise Solana ETF possible despite the government shutdown.

Following its debut on October 28, BSOL stands as the first direct Solana ETF to launch in the U.S.

While Solana stands as one of the top-performing cryptocurrencies in this bull phase, the strong performance recorded by the Solana ETF on the first day has further attracted more interest to the ecosystem. The record early inflow suggests that investors are eager to gain Solana exposure through traditional market infrastructure.

Nonetheless, it is important to note that the launch of the Bitwise Solana ETF coincided with the launch of other crypto ETFs, including a Solana Trust ETF from Grayscale.

While the Bitwise Solana ETF has seen impressive investor engagement in just about 24 hours, GSOL has not yet recorded any inflow since it launched alongside BSOL yesterday.

Related articles

TL;DR

Charles Hoskinson of Cardano defended Bitcoin from criticism by gold maximalist Peter Schiff.
Hoskinson cited a history of Schiff’s failed predictions on Bitcoin’s price.
The debate underscores the ongoing tension between proponents of traditional finance and cryptocurrencies.

Charles Hoskinson, the founder of Cardano, has once again spoken out in defense of Bitcoin, this time directly addressing Peter Schiff, the well-known gold maximalist and cryptocurrency skeptic.

In a recent publication, Hoskinson not only defended the pioneering cryptocurrency but also slammed Schiff’s long history of failed Bitcoin price predictions, suggesting a fundamental lack of understanding of the technology and its narrative.

The confrontation between Hoskinson and Schiff is not new, but this time the Cardano leader’s focus was on highlighting the inconsistency and error in Schiff’s bearish forecasts over the years.

From his early warnings about Bitcoin’s imminent fall to zero, to his recent predictions about its stagnation, market reality has repeatedly contradicted the economist’s analyses, which led Charles Hoskinson to criticize Peter Schiff for his persistent pessimism.

Bitcoin’s Narrative vs. Traditional Skepticism
The core of the disagreement lies in the narrative. While Schiff sees Bitcoin as a speculative bubble with no intrinsic value, comparable to “tulip mania,” cryptocurrency proponents like Hoskinson view it as a monetary and technological evolution. Bitcoin has shown resilience and reached new all-time highs, solidifying its position despite market cycles and criticism.

The Cardano founder also took the opportunity to point out that Bitcoin’s institutional adoption, with the arrival of spot ETFs and growing interest from big finance, has partially validated the cryptocurrency’s thesis as a digital store of value.

This point strongly contrasts with Schiff’s view, who has historically advocated for gold as the only true hedge against inflation and economic instability.

Charles Hoskinson’s criticism of Peter Schiff is not only focused on his past errors but also on his apparent blindness to the paradigm shift that cryptocurrencies represent. This debate continues to be a microcosm of the broader battle between traditional finance and the emerging world of digital assets.

Bitcoin Tumbles Back to $110K on Fed's Powell's Hawkish CommentsThough acknowledging growing weakness in the labor market, Powell said a December rate cut is not a "foregone conclusion."Updated Oct 29, 2025, 6:57 p.m. Published Oct 29, 2025, 6:49 p.m.

A solid down day in crypto is morphing into a plunge after Federal Reserve Chairman's unexpectedly hawkish remarks at his post-policy meeting press conference.

"A rate cut in December is far from a foregone conclusion," said Powell in his opening remarks. That was a shock to markets, which had priced in a 90% chance of another rate cut at the Fed's final meeting of the year.

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The effect in prices was immediate, with bitcoin BTC$113,421.04 tumbling about $2K to the current $109,600, now lower by 5% over the past 24 hours and largely having given up its big gains from earlier in the week.

Stocks also headed lower on Powell's remark, moving from a modest advance for the day to a modest loss. The 10-year Treasury yield has now jumped 8% basis points to 4.06% and the dollar is surging higher. The odds of a December rate cut have dropped to just 69% from 90% earlier, per CME FedWatch.

Whether Powell is just trotting out a tough line — as Fed officials often do — or whether he really believes the central bank will return to wait and see mode, remains to be seen.

The central bank minutes earlier, as expected, had trimmed its benchmark fed funds rate by 25 basis points to 3.75%-4.0%. The cut, though, was kind of a hawkish one, if that's possible, with Kansas City Fed chief Jeffrey Schmid breaking with his colleagues and voting to hold policy steady.

The ongoing government shutdown and economic data blackout puts the central bank in a tough spot, with policymakers remaining cautious about signaling further cuts that could spark volatility in risk assets, said Marcin Kazmierczak, co-founder of oracle network RedStone.

"The shutdown’s data blackout means subsequent Fed moves are now unpredictable, and that’s what markets hate most," he said in an emailed note. "This uncertainty likely means bitcoin and broader crypto volatility through year-end."

Paul Howard, director at crypto trading firm, noted that BTC is still holding trying to hold the $110,000-$120,000 range, but concerns of a further cut potentially not happening have moved prices slightly lower.

"My sense is this is convenient for short term accumulation and we will see macro improvements heading into November driving risk assets before some end of year consolidation," he added.

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Fed Delivers Expected 25 Basis Point Rate Cut as Markets Await Powell’s Comments

Headed lower on Wednesday ahead of the decision, bitcoin remained so in the minutes following the news at $111,700, down 3% over the past 24 hours.

알아야 할 것:

The Federal Reserve trimmed its benchmark fed funds rate range by 25 basis points to 3.75%-4.0%, a move that was widely anticipated by markets.Bitcoin continued with roughly 3% losses over the past 24 hours.Markets are awaiting Chairman Jerome Powell's post-meeting press conference for further clues about the central bank's outlook.Read full story