Crypto News

Galaxy’s head of research, Alex Thorn, says Bitcoin’s bear-market bottom may be in, citing weaker selling pressure, reduced speculation and a stronger case for fiat currency depreciation. He argues these conditions could make this a strategic time to add to Bitcoin holdings, though the view is his assessment rather than confirmation of a market bottom. Thorn says monthly outflows from Bitcoin dormant for more than five years fell from an average of 67,000 BTC in 2024 to 47,000 in 2025 and 34,000 in 2026. CFTC data also show asset managers’ net long positions in CME Bitcoin futures declining 57% from a peak of 43,300 BTC to 18,400 BTC. Leveraged funds’ net short positions fell from 71,400 BTC to 30,600 BTC, which Thorn sees as evidence that speculative and basis-trading capital has largely withdrawn. He also points to US federal debt above $40.44 trillion, annual interest costs of $1.28 trillion and persistent budget deficits as factors supporting the Bitcoin-as-a-hedge argument. Thorn says renewed market preference for enterprise blockchain over Bitcoin has appeared in earlier cycles, including 2016 and 2018–19, before subsequent Bitcoin rallies. Traders should note that these indicators do not guarantee a reversal; price action, liquidity and positioning remain important.

Bitcoin short-term holder profitability fell to about 70% in late October, down from nearly 100% in late September, according to Glassnode. Short-term holders are entities that have held BTC for less than 155 days. The decline suggests fewer recent buyers are sitting on gains and may be inclined to sell. Bitcoin traded between $80,000 and $82,000 during the period. Glassnode said short-term holder profit-taking flows had returned towards yearly averages after earlier spikes, which coincided with some of the year’s highest exchange inflows. The broader share of Bitcoin supply in profit remained around 68% to 70%. The reset could offer more favorable conditions for buyers, but it does not guarantee an uptrend. Traders may watch whether short-term holder profitability stabilizes and exchange inflows remain near average; a fresh rise in inflows could signal renewed selling pressure.

Nvidia CEO Jensen Huang says the company’s GPUs can have a lifespan of up to eight years, according to DigiTimes Asia. A longer Nvidia GPU lifespan could make AI computing systems look more like durable infrastructure than rapidly depreciating equipment, potentially helping companies use the hardware as collateral for financing. The claim may affect how lenders and investors assess AI firms’ assets and debt, including cloud-computing provider CoreWeave. Prediction-market odds for a CoreWeave bankruptcy announcement were listed at 11.5% by 1 January 2028, 19.5% by 1 January 2029 and 26.5% by 1 January 2030. The article gives no supporting evidence that financing terms have changed, so the implications remain prospective. For crypto traders, the news is an indirect signal about AI-sector financing rather than a direct catalyst for digital-asset prices.

Q2 Holdings (NASDAQ: QTWO) held an investor discussion on personal AI agents and digital banking, featuring Chief Operating Officer Himagiri Mukkamala and Chief Technology Officer Adam Blue. The company said the conversation would address how personal AI agents could connect with digital banking applications, how AI is changing fraud risks, and where Q2 may retain a competitive advantage. The provided transcript contains the introduction and questions but not the executives’ answers, so it gives no specific product announcements, financial figures or implementation details. The discussion is part of Q2’s AI series; an earlier session covered its AI strategy and architecture.

StoneX raised its price target for Strive, a Bitcoin treasury company, from $32 to $43 and maintained its buy rating. Analyst Mark Palmer said Strive’s recent SATS preferred-stock IPO and the expiry of traditional warrants amount to a “clean reset” of its capital structure, highlighting its all-preferred-stock Bitcoin treasury model. On October 20, Strive completed an expanded IPO of 7 million SATS preferred shares with a 15% dividend rate, raising $630 million in gross proceeds. The company has set aside enough funds to cover the first 18 months of dividend payments. Palmer noted that SATS ranks below the company’s SATA preferred stock, so each dollar raised adds assets without increasing claims senior to the senior preferred shares.

The Bangko Sentral ng Pilipinas (BSP) has disqualified five unregistered money service businesses and barred their operators from registering future sole proprietorships with the central bank. The foreign exchange and remittance businesses operated in Metro Manila, Pampanga and Davao. The BSP said the enforcement action aims to protect financial consumers and the integrity of the domestic financial system. Under Circular No. 1206, unregistered non-bank financial businesses can face administrative blacklisting and permanent disqualification from formal registration. The measure covers the named businesses and other commercial ventures owned or controlled by their operators.

ESMA says EU-authorised crypto-asset service providers should stop offering services involving asset-referenced tokens and e-money tokens that do not comply with MiCA. Its October 8 opinion covers trading, exchange, custody, transfers, order execution, investment advice and portfolio management—not just new listings.

The John Hancock Bond Fund underperformed its benchmark in the third quarter of 2026. The Bloomberg U.S. Aggregate Bond Index fell 3.51%, its worst quarterly result since the first quarter of 2022. The fund’s shortfall was mainly attributed to asset allocation and yield-curve positioning. The commentary linked broad bond-market weakness to concerns that higher energy prices amid the Iran conflict could renew inflation, while government borrowing needs also put upward pressure on yields. The available article excerpt does not provide the fund’s return or further details on its outlook.

The crypto market was broadly higher over 24 hours on 27 October, according to SoSoValue data. The AI sector led gains, rising 7.71%, with Quack AI (Q) up 252.24% and SoSoValue (SOSO) up 9.16%. PayFi gained 2.06%, DeFi 2.03%, Meme 1.80%, Layer2 1.04%, Layer1 0.99% and CeFi 0.90%. SocialFi was the only declining sector, down 2.33%, while Gram (GRAM) fell 3.18%. Sector index data also showed gains for ssiDeFi, ssiGameFi and ssiMeme. The crypto market’s gains were widespread across sectors, although the sharp move in Q stood out from the more modest advances elsewhere.

CoreWeave’s large AI-computing contracts have not eased concerns about its debt burden and funding model. The company reported a $104bn revenue backlog at the end of Q2 2026, largely backed by take-or-pay agreements, and secured another $25bn in commitments in the first weeks of Q3. It also raised GPU rental prices by about 25%. But CoreWeave’s balance sheet is highly leveraged: it had roughly $35.1bn in debt and $16.5bn in lease liabilities, compared with $5bn in shareholder equity. In Q2, adjusted EBITDA margin was 59%, yet $640m in net interest expense exceeded adjusted operating profit of $128m, contributing to a $626m net loss. The company also had $11.9bn of computing facilities under construction that had not started generating revenue. Investors have demanded higher compensation for risk. CoreWeave’s five-year CDS spread widened from 848 basis points on 7 October to 1,168 basis points on 14 October, while its shares fell. The article also highlights uncertainty over how much older GPUs will earn once customer contracts expire, as newer chips and greater supply could pressure rental prices. The story has no direct cryptocurrency catalyst, but it underscores broader AI infrastructure financing risks and sensitivity to interest rates. Those concerns could weigh on risk appetite across technology and crypto markets. Ornn argues that GPU futures could help lenders, cloud providers and customers price and hedge future computing costs, and plans to bring H100 and B200 contracts to ICE.

CertiK says an address linked to a suspected private-key compromise drained about $1.58 million in digital assets and then deposited funds into Tornado Cash, a cryptocurrency mixer. The affected tokens and victims have not been identified. The incident appears to involve compromised wallet or multisig keys, rather than a smart-contract vulnerability. The case adds to a recurring pattern of stolen crypto moving through Tornado Cash, but its immediate market impact is likely limited. Traders may watch for further fund tracing, exchange alerts and updates on the security investigation.

AI agent verification, Ethereum research and active liquidity are among the key themes in ChainFeeds PRO’s latest roundup. The issue argues that crypto’s “don’t trust, verify” approach could help secure AI agents that handle payments, credentials and assets. Advanced AI Society’s proposed Proof-of-Control aims to let third parties check whether an agent acted within its authorised limits. Bitcoin coverage highlights PSBT Signer Audit, a tool designed to compare a hardware wallet’s requested and returned transaction data. The roundup also covers Bitcoin L2 designs, wallet descriptor support and security fixes across Lightning software. Ethereum research examines PropAMMs, where professional market makers update on-chain prices actively. A study across Solana and Base found that, two seconds after trades, PropAMMs had average markouts of 0.37 basis points on Solana and 1.19 on Base, while traditional AMMs recorded losses of 0.22 and 0.62 basis points respectively. On Solana, PropAMMs also earned less from sampled retail flow than traditional AMMs, suggesting potentially better prices for ordinary traders. Other proposals include EIP-8288’s flexible recursive-proof design and BRO-AMM, which seeks to return part of arbitrage gains to liquidity providers. Simulations showed BRO-AMM reduced arbitrage-related LP losses by about 68–79% on Ethereum and 49–55% on Arbitrum. These findings are research and design updates, not confirmed market catalysts; their trading impact will depend on adoption and real-world performance.

Secure elements (SEs) are tamper-resistant chips designed to store and process sensitive data, including cryptographic keys, payment credentials and authentication tokens. Separated from a device’s main processor, a secure element can help protect this information even if the operating system is compromised. Some chips also use physical sensors to detect tampering and respond by shutting down or erasing data. Secure elements support security features such as protected payments, secure boot and firmware updates, and hardware-based two-factor authentication. In crypto wallets and other connected devices, they can provide an additional layer of protection for private keys and user credentials. The article says this hardware security is increasingly important as cyberattacks grow and regulations such as the EU Cyber Resilience Act raise security expectations.

Stanmore Resources reported strong third-quarter 2026 mining performance, supported by dry conditions and earlier investment in pit preparation. South Walker Creek achieved record results, and no serious accidents were recorded during the quarter. Year-to-date saleable coal production remains within the company’s guidance range, with 1.7 million tonnes of run-of-mine stockpiles at 30 September. Stanmore reaffirmed its full-year production guidance and said it was tracking towards the top end of the range. The company also said tighter domestic supply in China and reduced supply from Russia supported coal prices. Its average quarterly sales price rose 6% from the June quarter to US$163 per tonne. Stanmore Resources’ production outlook and coal pricing are the key indicators for investors monitoring the miner.

A crypto wallet known as the “Gold Miner” added to its XAUT holdings for the first time in three months, withdrawing 300 XAUT worth about $1.2 million from Bitfinex. The wallet now holds 4,500 XAUT at an average cost of $4,141.54 per token, with an unrealized loss of about $606,000. Since July 2026, it has accumulated XAUT worth a total of $18.63 million. The purchase reflects one holder’s continued exposure to the gold-backed token; by itself, it does not establish a broader market trend.

Crypto trader Machi (@machibigbrother) has reportedly lost all of his Papertrade funds and now has just $4,517.70 remaining on Hyperliquid, according to Lookonchain. About an hour before the report, he reportedly sold a Mutant Ape at a loss to raise funds for further trading. The update highlights the sharp drawdown in Machi’s trading capital, but provides no details on his positions or any broader market impact.

Moody’s Analytics chief economist Mark Zandi said the Federal Reserve should not raise interest rates at its meeting this week. He said risks to the US economy are increasing, with a Moody’s risk matrix highlighting numerous red warnings. The matrix assesses the likelihood and potential economic damage of risks over the next 12 to 18 months. The comments add to expectations that the Fed will hold rates steady, but also point to heightened economic uncertainty.

US markets were mixed last week as investors weighed disappointing housing data, lower interest rates and rising oil prices. The Russell 2000 led major indexes, gaining more than 2%, while the Dow Jones Industrial Average rose 0.42%. The Nasdaq fell 0.71% amid concerns about AI-related stocks. US markets also saw the largest interest-rate declines at the long end of the yield curve. West Texas Intermediate crude closed at $103.17 a barrel as conflict in the Middle East continued. The report does not mention cryptocurrencies, but its updates on rates, equities and oil offer broader signals for risk-asset traders.

A sharp sell-off in technology stocks is putting pressure on the AI investment boom, as investors weigh rising financing costs and potential credit risks. Goldman Sachs estimates that funds sold about $20 billion in global technology shares over the past two weeks, with selling pressure reaching an extreme level. The Nasdaq 100 remains within its recent trading range, with futures near 29,000 and the 200-day moving average around 28,500 as key support levels. JPMorgan says AI infrastructure debt issuance has exceeded $500 billion this year, while financing costs for major cloud providers have risen by about 120 basis points. Investors are watching whether AI backlogs translate into revenue and how further capital spending will be funded. A funding squeeze among GPU operators such as CoreWeave could transmit credit pressure to suppliers including Nvidia. Technology volatility has surged relative to the broader market, while the S&P 500 has fallen less than during July’s sell-off. JPMorgan remains constructive on technology fundamentals but says a durable rebound may depend on further position reduction, clarity on cloud companies’ spending plans, resilient semiconductor earnings and narrower credit spreads. The article says early November could offer a potential buying window, but the conditions are not yet fully in place. The AI tech sell-off therefore leaves traders balancing downside risks against a possible later entry point.

Anthropic’s planned IPO lifted technology and semiconductor sentiment after the AI company publicly filed an S-1, reporting first-half revenue of $16.3 billion and a net loss of about $8.07 billion. Its proposed ticker is ANT. The filing highlights strong growth but also raises questions about AI companies’ heavy computing costs and profitability. The semiconductor index rose 2.82% in the session. Investors are also watching the Federal Reserve’s decision on 28 October. Markets broadly expect rates to remain at 3.75%-4.00%, while the Fed’s guidance may shape expectations for future borrowing costs and risk assets. In crypto-related equities, Strategy paused its recent Bitcoin buying streak and repurchased $204.9 million of STRC preferred shares. The company’s reported $8.3 billion quarterly Bitcoin paper loss remains in focus ahead of its results. Meanwhile, CoreWeave shares have come under pressure amid concerns about financing needs and the cost of fulfilling its large order backlog. For crypto traders, the main near-term signals are the Fed’s tone, technology earnings and AI infrastructure funding conditions. These factors could influence risk appetite and Bitcoin trading, while Strategy’s pause removes one source of corporate Bitcoin demand for now.

Anthropic plans to launch its IPO during the week of 16 November, as the AI company faces enormous infrastructure commitments and tighter private financing. A draft prospectus cited by The Wall Street Journal reportedly puts its future computing commitments at up to $750 billion, including more than $600 billion in existing obligations and as much as $150 billion in potential additional deals. Anthropic reported revenue of $16.3 billion in the first half of 2026, up from $1.1 billion a year earlier, alongside a net loss of $80.7 billion. The article says most of that loss was related to financing accounting charges. Meanwhile, private capital is becoming more expensive: a reported $9 billion subordinated-debt component of a $60 billion chip-financing package carries a yield above 10%, up from 8.5% on an earlier deal. The Anthropic IPO could give the company access to deeper public-market funding and test investor confidence in AI infrastructure spending. But recent market volatility—including cancelled or weakly received listings and rising borrowing costs for data-centre firms—means the offering faces a tougher backdrop. Investors see the IPO as a major test of whether public markets will finance the next phase of the AI build-out.

Crypto markets saw developments in tokenisation, corporate treasury activity and regulation. Aviva Investors launched a sterling liquidity fund share class on the XRP Ledger, investing £50 million; its fund assets under management are about £22 billion, not the amount tokenised. Evernorth disclosed a potential $80.7 million equity facility that could fund general corporate purposes, including XRP purchases, but the financing and any purchases are not yet completed. Corporate crypto holdings also drew attention. Strive bought 6,182 BTC, bringing its bitcoin treasury to 43,000 BTC, and proposed an at-the-market offering of up to $1 billion in preferred shares. Bitmine reported holdings of about 6.05 million ETH, while Strategy said it made no new bitcoin purchases over the week and reported $5.1 billion in dollar assets. Separately, Circle minted $112 billion of USDC on Solana in 2026 to date; gross minting does not equal net supply growth. Regulatory and infrastructure news included final OCC approval for Ripple National Trust Bank, a CFTC-led path toward voluntary federal registration for crypto exchanges, and Chainlink’s CustodySync service for connecting custodied assets to DeFi lending. Hyperliquid outlined optional allowlists for certain perpetual markets, while Akash voters considered migrating its network to Solana. These developments may support institutional access and on-chain activity, but do not guarantee near-term price gains.

A review by DeFi researcher Ignas says only trading, AI and privacy tokens have outperformed Bitcoin this year. Trading tokens led the group: DRV gained 665%, HYPE 200%, PUMP 121% and RAY 106%. Ignas linked their gains to speculative activity generating protocol fees, with buybacks potentially supporting token value. AI tokens also rose sharply, led by VVV at 1,431%, followed by NEAR at 203% and GRASS at 151%. Privacy tokens ZEC and XMR gained 137% and 37%, respectively. Institutional-adoption-related tokens QNT and MORPHO rose 173% and 89%. The figures point to strength in a few crypto token sectors rather than a broad market rally. Ignas said tokens with strong revenue-generating capacity may offer a more manageable trading thesis, though past gains do not guarantee future performance.

A user reportedly lost about $1.58 million in cryptocurrency on Ethereum and Base in a suspected private key leak. No further details about the user, the affected assets or the incident’s cause were provided. The private key leak is a reminder for traders to secure wallet credentials and review their storage practices.

Binance will adjust the tick sizes for its BLURUSDT and QUSDT perpetual contracts at 14:30 Beijing time on 28 October 2026. The BLURUSDT tick size will decrease from 0.00001 to 0.000001, while QUSDT’s will increase from 0.000001 to 0.00001. The Binance tick size changes will not affect contract trading operations, and existing orders will remain unaffected.

A trader linked on-chain to the UXLINK hacker has opened a 30,300 ETH long position on Hyperliquid at an average entry price of $2,134. The position is valued at about $70.25 million and is showing an unrealized profit of $5.62 million. The link is based on fund movements: a month ago, the trader’s funding address and a known UXLINK hacker address swept their remaining ETH gas to the same wallet on the same day. In early August, the hacker reportedly gathered 11.54 million USDC from multiple sources and began trading ETH on Hyperliquid. Across six ETH positions, five were profitable, for a reported total profit of $5.71 million.

A wallet labelled as linked to Sun Yuchen received 7.2 trillion PEPE, worth about $28.44 million, from a Poloniex multisig address, according to on-chain analyst Ai Yi. A later update reported another 4.65 trillion PEPE withdrawal from Poloniex. The wallet now holds about 11.8 trillion PEPE, with an average withdrawal price of $0.000004114 and unrealised gains of roughly $2.085 million. Since 17 October, related addresses have moved $48.76 million in PEPE through Binance, Poloniex and HTX. The earlier transfer was the wallet’s first reported PEPE activity since June 2024, when the token traded at $0.00001256. The PEPE transfers do not confirm a sale, and it remains unclear whether the funds belong to Sun personally or to an exchange, as Sun owns HTX and Poloniex. Traders may monitor subsequent wallet movements and exchange flows for signs of possible selling pressure.

Anthropic’s reported IPO plans put its rapid growth and heavy AI infrastructure costs in focus. Revenue reportedly rose from $41 million in 2023 to $16.3 billion in the first half of 2026, with annualised revenue exceeding $65 billion by late July. Net revenue retention was about 900%, though quarterly growth slowed to roughly 45% in Q3 from more than a doubling in the prior quarter. The company has reportedly committed more than $518 billion to compute and infrastructure over the next decade, while holding about $131.7 billion in cash and short-term investments as of June 2026. Its reported first-half net loss of $80.7 billion was largely attributed to non-cash fair-value adjustments; operating loss was about $693 million. Earlier disclosures cited a 2025 net loss of roughly $42 billion and significant revenue concentration among two customers. Governance and copyright litigation add further risks, while CEO Dario Amodei has raised concerns about AI safety. With a November 2026 IPO reportedly targeting a valuation near $2 trillion, investors will weigh whether Anthropic can sustain growth, manage compute costs and address legal and governance risks. Anthropic’s IPO is a prominent test of frontier AI economics, but the company has no directly mentioned cryptocurrency or token.

Anthropic’s IPO filing highlights its reliance on a small group of suppliers for advanced chips and high-bandwidth memory (HBM). The S-1, filed on 26 October 2026, names TSMC as a key chipmaker and SK hynix, Samsung Electronics and Micron as major HBM suppliers. It warns that supply may not keep pace with demand and that competitors could secure manufacturing capacity first. The filing also describes hundreds of billions of dollars in compute commitments, estimated in the article at more than $600 billion, involving Broadcom, Google and Amazon. These obligations could weigh on Anthropic if demand falls short of expectations. The report says revenue rose from $386 million in 2024 to a projected $4.585 billion in 2025. No IPO share count or price range was disclosed. For traders, the Anthropic IPO story highlights both rapid AI growth and the supply-chain and cost risks facing the wider AI sector.