What began as a triumphant October for bitcoin quickly devolved into chaos as a $19 billion derivatives wipeout and a 17% price plunge left traders reeling.
The IBM Digital Asset Haven, developed with Dfns, aims to offer banks, governments and enterprises a full-stack platform for token custody, governance and compliance.
The health tech firm’s raise, backed by Kraken and Exodus, could bring proceeds to $216 million as it targets $1 billion in annual revenue and BTC holdings.
The move positions the company to scale its regulated platform across securities, real estate and digital assets as tokenization gains mainstream momentum.
On-chain data shows roughly 62,000 BTC have moved out of long-term storage since mid-October, softening one of this cycle’s strongest tailwinds. But steady whale accumulation and a moderate short-side cleanup helped prices stabilize near $114K.
Bitcoin cleared $112,000 on heavy volume and hovered near $114,500 late Sunday (UTC), while CoinGlass showed $319 million of short positions liquidated over 24 hours.
Major cryptocurrencies are trading higher ahead of a busy week featuring key Federal Reserve and Bank of Japan rate decisions alongside earnings reports from influential Mag 7 stocks.
The move comes as the BTC/gold ratio — a measure of Bitcoin’s relative value against the yellow metal — flashed its most oversold reading in nearly three years last week.