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  • Bitcoin dips below $122K after 16% rally, altcoins follow as analysts eye rebound

    Bitcoin dips below $122K after 16% rally, altcoins follow as analysts eye rebound

    Bitcoin slips under $122K after a 16% surge fueled by ETFs and futures.

    • Bitcoin slips under $122K after a 16% surge fueled by ETFs and futures.
    • Profit-taking triggers a short-term dip, pulling major altcoins down 4–7%.
    • Analysts eye a potential rebound, with Bitcoin aiming past $130K and altcoins poised for recovery.

    Bitcoin took a bit of a breather on Tuesday, slipping below the $122,000 mark after a blistering rally that had traders buzzing with excitement.

    For the traders following the crypto rollercoaster, this pullback probably didn’t come as a huge surprise.

    The market had been running pretty hot, and sometimes you just need to catch your breath before the next big move.

    Bitcoin price: What’s behind the dip?

    So, what’s causing Bitcoin and its crypto cousins like Solana, Cardano, and XRP to catch some cold feet right now? Well, a lot of it comes down to the fast-paced buying spree we saw over the past several days.

    Bitcoin’s price zoomed up by around 16%, fueled by a flood of fresh investments pouring into ETFs and futures.

    It’s like everyone piled onto the bandwagon at once, which can make things a little wobbly. When the crowd rushes in simultaneously, it often leads to what experts call an “overheated” market.

    Basically, traders get a bit too optimistic, pushing prices higher than what fundamentals might support in the short term. Then, boom, some folks start locking in profits, and the selling begins.

    We saw exactly that as bitcoin lost some steam, dragging most altcoins down with it, with drops ranging from 4% to 7% for the bigger names.

    But here’s the thing, it’s not all doom and gloom. These kinds of corrections are pretty common in volatile markets like crypto.

    Think of it this way: it cleans out the weak hands and sets the stage for healthier growth ahead. Plus, bitcoin still has strong support around the $118,000 to $120,000 zone, which many believe will keep the floor from falling out completely.

    What’s next for crypto?

    Many analysts are keeping a hopeful eye on the coming weeks. If Bitcoin can hang onto those key support levels, the path might just be clear for it to climb back past $130,000, riding the momentum of a strong finish to 2025.

    Of course, the crypto world isn’t just about Bitcoin. Ethereum, for one, has been holding up relatively well, partly thanks to growing interest in staking and the ongoing development of decentralized finance platforms.

    The altcoin scene may have taken a hit during this pullback, but it’s not out of the game.

    Tokens like Solana and XRP are still on many investors’ radars, especially with potential new ETF approvals on the horizon and technical upgrades underway.

    October has historically been a lively month for crypto, so don’t be surprised if the market springs back with a classic “Uptober” rally soon.

    That said, this ride isn’t for the faint of heart. The market’s inherent volatility means prices can swing wildly, sometimes on little more than speculation or headlines.

    Plus, global economic factors and regulatory news can turn the tide pretty quickly.

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  • Plume price forecast: SEC transfer agent nod boosts bulls

    Plume price forecast: SEC transfer agent nod boosts bulls

    Plume Surges

    • Plume price gained by 15% as bulls reemerged amid overall market bounce.
    • The news that Plume has registered a transfer agent adds to bulls’ positivity.
    • Bulls could target its all-time high of $0.24.

    Plume Network’s native token, PLUME, has surged double digits to hit highs of $0.13 amid regulatory tailwinds related to the US Securities and Exchange Commission (SEC).

    The platform’s registration as a transfer agent with the SEC puts Plume in position as a compliant gateway for tokenized real-world assets, a move that could trigger fresh interest in its token.

    Plume secures SEC nod as transfer agent

    At the heart of PLUME’s ascent is Plume Network’s recent registration with the SEC as a qualified transfer agent for tokenized securities, announced on October 6.

    This designation marks a critical evolution for the modular Layer-2 blockchain, which specializes in real-world asset finance (RWAfi).

    As a registered entity, Plume can now legally oversee the issuance, transfer, and record-keeping of digital securities directly on-chain. It opens the door to seamless integration with established U.S. financial infrastructure.

    Traditionally, transfer agents serve as custodians for shareholder registries. Key features include handling ownership transfers, dividend distributions, and corporate actions in off-chain environments.

    However, legacy institutions dominate this space.

    Plume’s innovation lies in automating these processes via distributed ledger technology, ensuring immutable transparency while linking capitalization tables to SEC reporting systems and the Depository Trust & Clearing Corporation (DTCC).

    As adoption grows, Plume’s status could catalyze trillions in on-chain migration. It’s role in fostering interoperability between TradFi and blockchain ecosystems has the potential to drive gains.

    Plume Network price gains 15% to signal potential rebound

    As the cryptocurrency markets show renewed bullish sentiment, PLUME has surged to multi-week highs with 15% gains putting it among the top performers in the market.

    Trading data indicates the push to intraday highs of $0.13 followed a bounce from lows of $0.10.

    Notably, PLUME went vertical on Monday as news of its SEC milestone hit the market, helping bulls navigate a key resistance level that has marked a prolonged period of consolidation.

    That supply zone between $0.09 and $0.105, for much of the prior week, constrained bulls.

    Broader market uncertainty amid macroeconomic pressures are two crucial factors.

    However, as Bitcoin bounced to highs of $126,198 and a new peak, investor confidence in Plume’s ecosystem helped the altcoin higher.

    Overall upward momentum for tokenized real-world assets (RWAs) added to the optimism.

    What next for PLUME price?

    While price has retreated to lows of $0.11, a retest of the $0.10 area and potentially $0.09 may offer a new opportunity for bulls to decisively bounce.

    The surge in daily trading volume, which is up 786% to more than $235 million, signals to the robust liquidity and market activity.

    PLUME chart by TradingView

    Bulls could eye $0.24, the Plume token’s all-time high reached in March 2025.

    The price action has also rippled through correlated assets, with other RWA-focused tokens like Ondo Finance.

    As Plume revealed its SEC nod, Ondo Finance also benefitted from upside momentum. For this token, gains came amid news that the platform had officially finalized its acquisition of Oasis Pro.

    The milestone sees Ondo secure its approval for SEC-registered broker-dealer, ATS, and transfer agent.

     

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  • The Paraguayan power play: How a shocking production boost sent HIVE’s stock soaring 25%

    The Paraguayan power play: How a shocking production boost sent HIVE’s stock soaring 25%

    The Paraguayan power play: How a shocking production boost sent HIVE's stock soaring 25%

    • HIVE Digital stock surged over 25% after a strong September production report.
    • The company mined 267 BTC, an 8% increase from the previous month.
    • Year-over-year production has grown a massive 138 percent.

    In a stunning display of operational excellence and rapid expansion, the Canadian Bitcoin miner HIVE Digital Technologies has delivered a jolt of power to the market, announcing a substantial and surprising increase in its Bitcoin production that sent its stock soaring over 25 percent.

    The news is a powerful testament to the success of the company’s aggressive growth strategy, particularly its massive new facility in the heart of South America.

    The market reaction was swift and decisive. Following the announcement, HIVE’s stock jumped more than 25 percent, closing at $5.57 on October 6.

    This surge was a direct response to a stellar September production report, in which the company mined 267 BTC—an 8 percent increase from August and a staggering 138 percent jump in year-over-year growth.

    The Paraguayan power play

    The engine behind this explosive growth is the company’s new 100 MW Phase 3 Valenzuela plant in Paraguay.

    HIVE confirmed that the facility, which is powered exclusively by renewable hydroelectric energy, is coming online “ahead of schedule.”

    Almost half of the facility’s total hashrate capacity is now operational, a major milestone that has immediately translated into a surge in daily production, which now averages over 9 BTC per day.

    This rapid deployment has had a dramatic effect on the company’s overall operational power.

    HIVE’s average hashrate—the computational power it uses to mine Bitcoin—surged by 19 percent from August to September alone, a clear sign of the new facility’s immediate impact.

    Beating the network: a story of surging efficiency

    But this is not just a story of brute force; it is a story of remarkable efficiency.

    During the same period that HIVE’s own hashrate grew by 19 percent, the entire Bitcoin network’s mining difficulty—a measure of how hard it is to mine a new block—rose by 16 percent.

    HIVE’s ability to outpace the network’s own growth is a critical signal that it is operating with increasing efficiency, a key factor in a miner’s long-term profitability.

    A glimpse into a high-powered future

    The company’s leadership has made it clear that this is just the beginning.

    Executive Chairman Frank Holmes praised the Paraguay team for advancing Phase 3 “ahead of schedule,” a sentiment echoed by the company’s ambitious forward guidance.

    President and CEO Aydin Kilic has confirmed HIVE’s expectation of reaching a total hashrate of 25 EH/s by US Thanksgiving, a significant jump from its current peak of 21.7 EH/s.

    He also noted a projected fleet efficiency of 17.5 joules/terahash, a key metric in a competitive market.

    With all of the necessary ASIC mining machines for the Paraguay expansion already shipped, the path to this next phase of growth appears clear.

    For HIVE, the Paraguayan gambit is paying off, and the market has taken notice.

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  • Cardano (ADA) eyes $0.89 breakout as Bitcoin steals the spotlight

    Cardano (ADA) eyes $0.89 breakout as Bitcoin steals the spotlight

    Cardano (ADA) eyes $0.89 breakout

    • Whales have accumulated 70M ADA as retail traders stay cautious.
    • Cardano (ADA) faces key breakout resistance near the $0.89 level.
    • Bitcoin’s dominance limits altcoin momentum and ADA’s recovery.

    Cardano’s price has been caught in a tug-of-war as the broader crypto market rallies behind Bitcoin’s surge to record highs.

    While Cardano (ADA) remains more than 70% below its all-time peak, signs of accumulation by large holders suggest that the token could be preparing for a decisive move, with $0.89 emerging as the key breakout level.

    However, retail hesitation and shifting market sentiment continue to weigh on its momentum, leaving traders watching closely for confirmation of the next trend.

    Bitcoin dominance leaves Cardano lagging

    Bitcoin’s climb to $125,000 has reshaped the market landscape, pulling liquidity from altcoins into BTC and exchange-traded funds.

    The Bitcoin Dominance Index has risen to 58.3%, reflecting a clear rotation of capital that has left many altcoins struggling to keep up.

    Bitcoin Dominance
    Source: CoinMarketCap

    Cardano has not been spared, underperforming the wider market and slipping by 0.5% over the past 24 hours to trade at $0.854.

    Cardano’s trading volumes have fallen by 13% to $1.13 billion, signalling a dip in immediate demand even as technical patterns show a buildup of pressure beneath the surface.

    Whales accumulating ADA as retail hesitates

    Beneath the quiet price action, large Cardano holders have been steadily adding to their positions.

    Wallets holding between 10 million and 1 billion ADA have collectively absorbed an additional 70 million tokens in recent days, worth close to $59 million at current prices.

    Cardano (ADA) whale accumulation
    Source: Santiment

    The Chaikin Money Flow (CMF), a measure of capital inflows, has turned positive at 0.12, reinforcing the view that larger players are preparing for a potential upside move.

    However, the enthusiasm of retail traders has not matched this activity.

    The Money Flow Index has been trending lower, pointing to weaker conviction among smaller investors.

    This divergence between whale accumulation and retail caution has kept ADA coiled inside a symmetrical triangle, delaying a sharper breakout even as broader conditions tilt in favour of accumulation.

    ADA price analysis

    From a technical standpoint, ADA faces layered resistance that could determine whether the token manages to escape its consolidation range.

    The immediate barrier lies at $0.855, where the 50-day simple moving average converges with the 50% Fibonacci retracement level.

    A stronger resistance zone sits between $0.86 and $0.89, the latter acting as the critical breakout level that traders are monitoring.

    A daily close above $0.89 would confirm bullish momentum and open a path toward $0.93 and $0.95.

    On the other hand, Cardano’s price has tested $0.832, a zone tied to the 61.8% Fibonacci retracement, which now serves as a short-term floor.

    A deeper dip below $0.78 would invalidate the bullish setup and confirm a bearish turn, leaving the triangle structure broken.

    But until then, ADA remains in a delicate balance between buyer accumulation and market hesitation.

    Cardano price outlook sparks optimism

    Despite its struggles, some analysts believe Cardano is primed for a resurgence reminiscent of past breakout runs seen in other major assets.

    Market analyst Timofei argues that ADA mirrors the conditions that allowed XRP to surge in 2024 and Solana to rebound dramatically in 2023.

    Notably, XRP posted a 239% rally last year, while Solana’s comeback from the depths of the FTX collapse saw a 919% increase.

    Timofei notes that ADA has been consolidating inside an expanding symmetrical triangle since early 2023.

    The analyst notes that after a rejection near $1.32 in December, Cardano (ADA) has moved closer to the midpoint of the structure.

    Timofei expects a retest of the lower trendline, which could mark the final bottom before a significant rebound.

    His analysis points to a potential breakout that could send ADA back toward the $3 region, a 254% gain from current prices.

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  • Sui price consolidates above $3.50 as inflows tick up

    Sui price consolidates above $3.50 as inflows tick up

    Sui Token

    • Sui recorded approximately $3.5 million in net inflows last week.
    • Investors have injected over $138 million into Sui-related digital asset products.
    • Bulls could ride institutional demand and overall market tailwinds to target a new all-time high.

    Sui (SUI) price is showing signs of a potential breakout as bulls stabilise above the $3.50 threshold.

    Increased capital inflows, signalling renewed institutional interest, add to the overall bullish picture for SUI.

    Sui holds a key level amid $3.5 million in capital inflows

    The crypto market’s sharp bounce in the past week has Sui price poised above $3.50 and eyeing an upward continuation.

    Meanwhile, the Sui ecosystem has recorded a modest yet encouraging uptick in investment activity.

    According to CoinShares, approximately $3.5 million in net inflows poured into SUI-linked funds and products over the past seven days.

    This comes as demand for institutional-grade exchange-traded products (ETPs) and venture-backed staking pools surges sharply.

    Investors looking to position with Sui have injected over $138 million into related digital asset products and funds, with assets under management rising to $348 million.

    While Bitcoin and Ethereum dominate with billions of dollars in weekly inflows, the overall bullish sentiment is helping smaller coins.

    A lot of this is down to treasury strategy moves and exchange-traded funds anticipation, while macro tailwinds strengthen the push for more gains in the fourth quarter.

    The $3.5 million inflows point to Sui’s appeal among institutional investors.

    SUI price: is a new all-time high next?

    SUI’s price action has entered a textbook consolidation phase.

    Over the past weeks, the token has traded between $3.52 and $3.65, with a market capitalisation hovering around $13.1 billion and daily volume near the $1 billion mark.

    As per CoinMarketCap data, this metric stood at around $997 million at the time of writing on Monday.

    The altcoin’s stability comes after a 13% rally in the past week that has bulls retesting a key resistance zone.

    Notably, technical indicators paint a bullish picture, with the relative strength index (RSI) sitting at 56, neutral yet trending upward.

    Bids are also concentrated near the middle line of the Bollinger Bands, having seen a significant bounce off the support line.

    Sui Price
    Sui price chart by TradingView

    Bullish catalysts for Sui include accelerating network growth and a supportive broader crypto market outlook.

    Analysts expect substantial upside for Bitcoin, with some projecting a move toward $126,000.

    Such an advance could trigger a broader sector rally, fueled by capital rotation and renewed risk appetite.

    “Traders short October calls are rolling higher toward 126k–128k as $BTC keeps grinding up,” said analysts at QCP Group.

    “The move shows conviction in sustained upside into month-end, with the market leaning on supportive macro stories and seasonal strength.”

    A confluence of factors, including sustained inflows and strong technical momentum, could position SUI to retest its all-time high above $5.35, last seen in January.

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  • Bitcoin shatters all-time high, surging past $125,000

    Bitcoin shatters all-time high, surging past $125,000

    Bitcoin shatters all-time high, surging past $125,000

    • Bitcoin has surged to a new all-time high, surpassing $125,750.
    • The rally follows a volatile September, with Bitcoin soaring over 9% in October.
    • The key $120,000 level has been successfully turned into a support base.

    The king of crypto has reclaimed its crown in a stunning display of power and resilience.

    Bitcoin has shattered its previous all-time high, blasting past the monumental $125,000 barrier in a powerful surge that signals the triumphant return of the bulls.

    The record-breaking performance, which saw the cryptocurrency touch a staggering 125,750 dollars in early Sunday trading, is a defiant roar from a market that has shaken off the blues of a volatile September and is now charting a bold new course.

    A fortress at $120,000: The anatomy of a breakout

    This is not a random surge; it is a rally built on a powerful technical foundation.

    The latest milestone comes after the market successfully defended the critical 120,000 dollar level, transforming what was once a ceiling of resistance into a solid floor of support.

    This successful conversion was the final piece of the puzzle, the technical green light that has paved the way for this powerful new leg higher and reinforced investor confidence in the cryptocurrency’s long-term prospects.

    The powerful upswing, which has seen Bitcoin’s value soar by over 9 percent in October alone, is a testament to the asset’s growing acceptance and its remarkable ability to rebound from periods of turbulence.

    A flight to safety, a bet on debasement

    The rally is not happening in a vacuum. It is being fueled by a potent cocktail of macroeconomic uncertainty and a growing narrative that the value of traditional fiat currencies is being eroded.

    The ongoing US government shutdown has injected a deep sense of instability into the global financial system, a chaos that appears to be driving investors toward alternative stores of value.

    This “dollar debasement narrative” is not just lifting Bitcoin; its effects are visible across the safe-haven spectrum.

    Spot gold also advanced on Friday to 3,876.55 dollars per ounce, lifting its weekly gain to over 2 percent in a powerful parallel move.

    “With many assets including equities, gold and even collectibles like Pokemon cards hitting all time highs, it’s no surprise Bitcoin is benefiting from the dollar debasement narrative,” said Joshua Lim, co-head of markets at the crypto prime brokerage firm FalconX, in a statement to Bloomberg.

    As the world grapples with a new era of economic uncertainty, Bitcoin is once again making its case as a viable and powerful alternative.

    The king is back on his throne, and the market is watching with bated breath to see just how high his new reign will take him.

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  • Could Trump’s $2,000 tariff rebates for Americans stimulate an altcoin surge?

    Could Trump’s $2,000 tariff rebates for Americans stimulate an altcoin surge?

    Trump’s proposed $1-2K tariff rebates could spark consumer spending and a selective rally in altcoins.

    • Trump considers $1,000–$2,000 tariff rebates for American households.
    • Rebates aim to reduce the $37T national debt but face legal hurdles.
    • Analysts see potential for a targeted altcoin surge, not a full-blown rally.

    US President Donald Trump is reportedly thinking about giving American households a tariff rebate somewhere between $1,000 and $2,000.

    He is pitching it as a kind of “dividend for the people,” and naturally, it could shake up both consumer spending and the markets.

    The main aim? To chip away at the $37 trillion national debt.

    But here’s the interesting part, people are already speculating this move could spark another altcoin rally, kind of like what we saw back in 2020–2021 when pandemic stimulus checks sent retail investors rushing into crypto.

    Trump’s tariff dividend: Policy and legal challenges

    The rebates Trump is talking about would come from the revenue generated by his aggressive tariff policies.

    So far in 2025, those tariffs have brought in about $215 billion, and some projections suggest it could hit $300 billion by the end of the year.

    Trump has been clear that reducing the national debt is still the main goal, but he’s also hinted at sending cash directly to Americans, saying something like, “We’re thinking maybe $1,000 to $2,000 – it would be great.”

    The administration even claims that tariffs could eventually pull in over $1 trillion a year, though that’s still very much up in the air.

    But here’s the catch: the legality of these tariffs is under serious judicial review.

    The Supreme Court is set to hear a case in November 2025 to decide whether the president actually has the constitutional authority to impose broad tariffs.

    Past rulings from the US Court of Appeals for the Federal Circuit have already raised questions.

    Treasury Secretary Scott Bessent has even warned that if the courts rule against them, the government might have to refund anywhere from $750 billion to $1 trillion in collected and projected revenue.

    So, while the rebate idea sounds exciting, this legal uncertainty makes it far from guaranteed.

    Altcoin markets: a potential surge?

    Analysts are saying that if these rebates actually happen, we could see a surge in altcoin investing.

    A 2023 study by Harvard’s Marco Di Maggio found that when households get extra cash, it often leads to more people buying crypto, especially retail investors looking for yield or a hedge against inflation.

    That’s exactly what happened during the 2020–2021 altcoin boom, when Bitcoin’s dominance fell from 73% to 39%, thanks largely to pandemic stimulus checks flowing into digital assets.

    Things are a bit different now, interest rates are over 4%, and the total crypto market cap has grown to $4 trillion.

    But experts like Wintermute strategists say any new “alt season” would likely be more selective, focusing on coins with real utility instead of pure speculation.

    Still, the psychological boost from direct payments, along with expected Federal Reserve rate cuts, could get retail investors excited again.

    Platforms like XRP and Solana might be among the big winners if attention shifts toward innovation-driven blockchains.

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  • Uptober ignites: why $200k is within reach after Bitcoin breaches $120K

    Uptober ignites: why $200k is within reach after Bitcoin breaches $120K

    why $200k is within reach after Bitcoin breached $120K

    • Bitcoin nears record $124K after strong September and Uptober surge.
    • Institutional ETF inflows and corporate buys fuel bullish momentum.
    • Analysts project $160K–$200K if demand growth continues in Q4.

    Bitcoin (BTC) has stormed into the final quarter of 2025 with the kind of momentum that traders had hoped for, breaking through the $120,000 barrier and reigniting talk of fresh all-time highs.

    The rally comes on the heels of a surprisingly strong September and is already being described as the early stages of what could be a historic “Uptober.”

    With BTC now hovering just a few percentage points below its record high of $124,128 set in August, analysts and on-chain observers say the conditions are aligning for a drive toward $200,000 before year’s end.

    Seasonal surge takes hold

    September closed above $114,000, up about 5% for the month, bucking the usual trend of weakness and building a foundation for October’s breakout.

    Historically, whenever September has ended in the green, the fourth quarter has delivered outsized gains, with years like 2015, 2016, 2023, and 2024 producing average rallies above 50%.

    That pattern, coupled with October’s average gain of 21.8% and November’s 10.8%, has cemented “Uptober” as more than a slogan for crypto traders.

    Already this month, Bitcoin has climbed nearly 10% in a week, extending a year-to-date gain of about 27%.

    The proximity to its all-time high adds to the sense of inevitability that new records are within reach if demand continues to hold.

    Institutions are driving BTC demand

    Behind the price action, institutional activity is setting the tone.

    US spot Bitcoin ETFs have pulled in billions in inflows since early September, including more than $600 million for two consecutive days and $2.25 billion over the past week.

    Bitcoin ETFs inflows
    Source: Coinglass

    BlackRock’s IBIT ETF has emerged as the centre of this demand, with its options open interest topping $38 billion and even surpassing Deribit, traditionally the largest derivatives venue.

    Corporations are also reinforcing the bullish trend. Strategy, formerly MicroStrategy, now controls 3.2% of Bitcoin’s total supply after adding more than 11,000 coins in recent weeks.

    The steady accumulation reduces exchange supply and signals confidence from long-term holders.

    This kind of sustained buying creates an upward pressure that is difficult for the market to ignore.

    Bitcoin technical breakout confirms the momentum

    The technical picture is equally supportive. Bitcoin has decisively broken above $119,500, a resistance level that capped prices through late September.

    Indicators such as the MACD and RSI are flashing bullish signals, while the price continues to trade above short-term moving averages.

    Bitcoin price analysis
    Source: CoinMarketCap

    Eyes are on $124,600 as the next test, with Fibonacci extensions pointing toward $128,000–$130,000 as near-term targets.

    However, the bigger story is what lies beyond. JPMorgan’s latest analysis compares Bitcoin with gold and suggests a theoretical fair value of $165,000 if adoption trends converge.

    Citi has also issued a 12-month target of $181,000, and Standard Chartered has gone even further, projecting that institutional flows could push Bitcoin to $200,000 by year-end.

    CryptoQuant’s bull score index hovers around 40–50, the same levels seen before major breakouts in 2020 and 2024, and the firm believes Bitcoin could reach between $160,000 and $200,000 this quarter if demand persists.

    The US government’s shutdown has also shaken confidence in traditional markets, pushing investors toward hard assets like Bitcoin and gold.

    $200k within sight

    The mix of seasonal strength, institutional inflows, technical momentum, and macro uncertainty is creating conditions unlike any Bitcoin has faced before.

    With the asset just shy of its all-time high and liquidity pouring in, analysts argue that $200,000 is no longer a bold outlier but a realistic scenario if buying pressure continues through the quarter.

    For now, the key question is whether Bitcoin can sustain closes above $120,000 and break decisively past $124,000.

    If it does, “Uptober” may prove to be the spark that propels the world’s largest cryptocurrency into its most explosive rally yet.

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  • FLOKI eyes 70% rally as first ETP goes live in Europe

    FLOKI eyes 70% rally as first ETP goes live in Europe

    • Floki price is up 2% after giving up some gains following a surge to above $0.000089.
    • This came as Valour Floki ETP goes live in Europe
    • FLOKI’s current price of $0.000086 but bulls could eye $0.00015 or higher amid a bullish Q4.

    Floki (FLOKI) rose slightly on Friday, hitting intraday highs of $0.000088.

    The gains came as the broader crypto market cheered its latest uptick, with Floki up as the cryptocurrency project hit a major milestone with the trading launch of its first exchange-traded product (ETP) in Europe.

    With the move likely to bolster FLOKI’s adoption as crypto builds momentum into a historically bullish Q4 cycle, bulls could ride overall sentiment to eye gains to $0.00015 – levels last seen in July.

    Valour launches first Floki ETP in Europe

    Valour, a subsidiary of DeFi Technologies, introduced the Valour Floki (FLOKI) SEK ETP in September.

    The ETP is now live on Sweden’s Spotlight Stock Market, a platform with multiple digital asset ETPs listed.

    Floki’s ETP begins trading in Europe just days after Valour announced the listing of several crypto ETPs on the Spotlight exchange.

    These included exchange-traded products for Pepe, Flare, Virtuals Protocol, Optimism, Story (IP), Immutable and Quant.

    Apart from Floki, the firm also launched a crypto-product on The Graph, Theta, IOTA, and Hyperliquid.

    According to details the launch of Valour’s Floki ETP marks a milestone for the BNB Chain-based project.

    In particular, Floki is now the first BNB Chain project, aside from BNB, to secure such an ETP listing in Europe.

    Valour’s crypto product on the memecoin goes live a couple of months after Floki became the first Markets in Crypto Asset compliant token in Europe.

    It followed the project’s launch of a MiCA-compliant white paper with the European Securities and Markets Authority (ESMA) in July.

    That, and this ETP, together point to Floki’s growing adoption.

    A similar trend is anticipated after the flagship metaverse game Valhalla went live.

    Floki price outlook: bulls eye a 70% bounce

    As Bitcoin pumped to above $120,000 and top altcoins tracked the uptick, Floki jumped to highs of $0.000089.

    While not a major breakout as happened with tokens like Zcash, PancakeSwap and Ether.fi, the gains signaled a potential upward flip for the memecoin.

    FLOKI’s current price of $0.000086 is near this level, with 24-hour uptick of 2% and 9% in the past week.

    However, bulls are down 5% over the past month after the downside action that hit cryptocurrencies in September.

    The technical outlook nonetheless suggests a potential accumulation zone near current levels.

    Floki price chart by TradingView

    Although the Relative Strength Index (RSI) at 45 suggests indecisiveness, the Moving Average Convergence Divergence (MACD) is signaling a potential bullish crossover.

    If this strengthens, a flip in the daily RSI could align with a possible reversal.

    Price targets on the upside include the key levels of $0.00011 and $0.00015.

    This could mean an initial 70% rally in coming months, mainly buoyed by overall market conditions.

    Notably, a successful break above $0.00015 could confirm a sustained upward trend and bring $0.00025 into play.

    The key short-term support level will be around $0.000063.

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  • Bitcoin hits a 6-week high above $120,000, defying a government shutdown

    Bitcoin hits a 6-week high above $120,000, defying a government shutdown

    Bitcoin hits a 6-week high above $120,000, defying a government shutdown

    • Bitcoin has broken above the key $120,000 level for the first time since August.
    • The rally is fueled by renewed optimism about macroeconomic tailwinds.
    • BTC futures open interest has hit a record high of $32.6 billion.

    The bulls are back in charge. Bitcoin has shattered the critical $120,000 resistance level, surging to a height not seen since mid-August as a powerful wave of optimism sweeps through the market.

    The breakout, which follows a steady five-day climb, signals that traders are decisively positioning for a bullish final quarter of the year, undeterred by the political chaos unfolding in Washington.

    This is a rally built on both renewed macroeconomic hope and a powerful internal market dynamic.

    In the derivatives market, the conviction is palpable, with open interest in BTC futures soaring to a new record high of $32.6 billion, a clear sign that traders are placing big bets on further upside.

    A short squeeze in the making?

    Beneath the surface of this bullish momentum, a potentially explosive setup is taking shape.

    On-chain analyst Skew has noted that even as open interest soars, a significant number of short positions are also piling up.

    This creates the perfect conditions for a “short squeeze,” a violent upward price move that is triggered when a rising price forces a cascade of short-sellers to buy back their positions, adding even more fuel to the rally’s fire.

    The shutdown factor: a crisis becomes a catalyst

    Ironically, the political crisis in the United States may be a key catalyst for the market’s renewed optimism.

    The ongoing government shutdown has injected a dose of profound uncertainty into the economic picture, a chaos that traders seem to believe will ultimately benefit risk assets like Bitcoin.

    Treasury Secretary Scott Bessent warned on Thursday that the shutdown could have a real and damaging impact.

    “We could see a hit to the GDP, a hit to growth and a hit to working America,” he told CNBC.

    This economic weakness, coupled with the fact that the Federal Reserve will be deprived of a fresh jobs report, makes an interest rate cut at the end of this month all but a certainty.

    The flip from skeptic to believer

    The sheer strength of the recent advance has been enough to turn even the skeptics into believers.

    Paul Howard, a senior director at the crypto trading firm Wincent, admitted he had been skeptical about a rebound earlier in the week, but the market’s relentless climb has changed his mind.

    “With $BTC trading back at levels last seen in mid-July, the total market cap is once again above $4 trillion,” he noted.

    We have seen a slow grind higher breaking above $115,000, indicating we are now more likely to stay above this level, with a CME gap to lock in the floor at $110,000.

    His conclusion is now as bullish as the market’s momentum. “I believe we are now set to see a sustained rally above $120,000 in the coming weeks,” he added.

    The quiet days of late September are over, and the battle for the next leg higher has begun.

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