Bitcoin stopped short of a full rebound at $116,000 as traders monitored whale activity and several key BTC price support levels. Key points: Bitcoin chops around $114,000 as a whale expects more BTC price losses next. Price pressures short-term holders, who have their cost basis just below the $114,000 mark. Read more
Analysts say confusion over China’s export rules briefly rattled markets before Bitcoin miners led a swift recovery on Monday. Shares of Bitcoin mining companies rose sharply on Monday, recovering from losses sustained during Friday’s flash crash that analysts attributed to US President Donald Trump’s apparent misunderstanding of new Chinese export controls. Bitfarms (BITF) and Cipher Mining (CIFR) led the rally, each posting double-digit gains. Hut 8 Mining (HUT), IREN (IREN) and MARA Holdings (MARA) also climbed more than 4%, while Core Scientific (CORZ) and Riot Blockchain (RIOT) traded broadly higher at the start of the session. The rebound followed a steep sell-off on Friday after Trump announced plans to impose 100% tariffs on Chinese imports, stoking fears of an escalating trade war. The president’s comments, however, were later revealed to be based on a misunderstanding of China’s new export measures. Trump subsequently walked back his remarks over the weekend. Read more
Binance Wallet’s balance display issues came soon after CZ-owned Trust Wallet reported experiencing the same issue on Sunday. Binance’s balance display issues persisted across some of its services following Friday’s market crash, with its self-custody product, Binance Wallet, still affected as of Monday. Binance Wallet took to X on Monday to report that the wallet was “temporarily experiencing lag” due to network congestion, which caused some users to be unable to view certain wallet data. “This information requires some buffering time to display. We are actively working on resolving this issue,” the post read. Read more
Hyperliquid has rolled out its HIP-3 upgrade, enabling anyone staking 500,000 HYPE tokens to deploy their own perpetual swap markets permissionlessly. Decentralized exchange Hyperliquid has introduced an update that enables third parties to independently launch their own perpetual swap contracts on the platform. Hyperliquid Improvement Proposal 3 (HIP-3) comes into force on Monday, according to the official Hyperliquid Discord channel. This change introduces permissionless, builder-deployed perpetual futures contracts, marking a major step toward fully decentralized perpetual futures listings. HIP-3’s implementation on the decentralized exchange (DEX) allows anyone staking 500,000 HYPE ($20.5 million at the time of writing) to deploy their own perpetual swap contract with independent margining, orderbooks and parameters. Read more
Crypto companies looking to raise funds set a new record, reaching $3.5 billion in a single week last week, before the market crashed on Friday. Crypto fundraising reached an all-time high last week, with a record $3.5 billion raised across 28 funding rounds. Cryptorank data showed on Monday that weekly fundraising reached its highest point from Oct. 6 to Sunday, surpassing all previous peaks, including the nearly $3 billion raised July 28 to Aug. 3. The surge came after seven consecutive weeks of sub-$1 billion fundraising activity, marking a sharp resurgence in investor confidence. Over the last six months, weekly fundraising fluctuated from $150 million to $2.9 billion, underscoring the volatility of venture activity in the crypto space. October’s sudden surge represents a significant breakout. Read more
A sovereign crypto fund surprised markets by making its first investment in BNB, rather than Bitcoin. This is a big, bold move in Kazakhstan’s strategy. Kazakhstan has launched the Alem Crypto Fund, a state-backed initiative aimed at building long-term digital asset reserves. Managed by Qazaqstan Venture Group and operating under the AIFC, the fund marks a significant step in the country’s regulated adoption of blockchain-based investments. Surprisingly, the fund’s inaugural purchase was not Bitcoin (BTC) but BNB (BNB), the native token of the BNB Chain. Through a strategic partnership with Binance Kazakhstan, a local entity licensed under the Astana International Financial Centre (AIFC) regime, the fund was able to secure custody and align with compliance frameworks from the outset. Read more
BitMine’s Tom Lee saw the market crash as a discount buying opportunity, acquiring over $827 million worth of Ether over the weekend. BitMine, the world’s largest corporate Ether holder, capitalized on this weekend’s crypto market crash to buy the dip, signaling more institutional confidence in Ether’s continued momentum. The company said it acquired Ether (ETH) “more aggressively” during the market turmoil, pushing its total holdings past 3 million ETH, or about 2.5% of the cryptocurrency’s total supply. BitMine’s average purchase price was $4,154 per token. Over the past few days, BitMine acquired 202,037 ETH, worth about $827 million, the company said in a Monday X post. Read more