Category: News

Bitcoin’s price started its descent on Wednesday morning and kept sliding over the next 24 hours, touching $82,200 for the first time in more than two weeks. 🖤 Most bigger altcoins are bleeding red rn, with ZEC leading at a 6% drop while XRP, HYPE, LINK and a few others fell 3-4%. BTW is the lone fighter holding its ground tho.

Bitcoin Plunges To 17-Day Low 🦇

The prior trading week wrapped with wild swings right after the soft US jobs report for September dropped. BTC spiked to $87,250 at first, but the follow-up move turned brutal and painful. The coin crashed more than $3,000 in hours, slipping below $84,000 before catching a breath around that zone on Saturday. Bulls tried a breakout push Sunday night and Monday morning, aiming for $87,000 again. The familiar rejection hit hard, sending it down to $85,000 then rebounding briefly to $86,700 before the next wave slammed it lower. Bitcoin first dropped $2,000 in just 20 minutes, found temporary support near $84,300, then tumbled further to $82,200 earlier today for that 17-day low. It now sits near $83,000 with market cap at $1.660 trillion and dominance steady at 59%.

Ethereum slipped below $2,700 just days ago and now rests at $2,560 after another 1.6% dip. XRP crashed to $1.41 after rejection at $1.50, SOL sits at $115 and HYPE is under $90. ZEC took the heaviest hit in this group, shedding 6% to $1,240. Further pain shows in DOGE, LINK, RAIN, BCH, LTC, UNI, ENA, PUMP and SKY while BTW gained over 11%. JUP, RAY, CRV and ALGO also posted double-digit green candles today. Total crypto market cap lost just over $100 million in the last 36 hours, moving from $2.920 trillion down to $2.810 trillion. 🌑 💀 🕸️ 🌙 🕷️ 🩸 🪦 🐈‍⬛

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Just another echo from the void by iconofsin.eth 💖

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Tether just sealed the deal with Kazakhstan’s National Bank and the Alatau City Authority to dive into a tenge-pegged stablecoin. This MoU brings in some special legal vibes under Alatau’s regime and they are all set to study global issuance models before cooking up a concept plus pilot proposal.

Alatau Tokenization Push Reaches New Heights 💸

Tether alongside the NBK and ACA will also zero in on key asset categories while launching a tokenization test run in the Alatau zone that could power up via the Hadron platform 🔥. Workshops plus training sessions await for the central bank crew on issuance and reserves. Kazakhstan moves forward with a sharp eye on asset tokenization and strategic reserves.

Tenge Stablecoin Buzz Gets Darker Twists 🖤

President Kassym-Jomart Tokayev locked in the constitutional law for Alatau’s regime back on May 8 setting fresh rules for digital assets and markets. The government backed a 65-measure plan on September 15 that targets up to 60 million in tokenized projects by end of 2026 with up to 50 million flowing into the Iconic Tower co Birlik logistics center via KASE infrastructure. The debut tenge backed stablecoin KZTE hit on the Solana network through Intebix with Solana Mastercard and Eurasian Bank ties. NBK Governor Timur Suleimenov eyed putting up to 350 million from reserves into crypto assets earlier. Kazakhstan’s digital asset law kicked in on May 1 classifying money backed stablecoins as digital financial assets under NBK watch.

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Just another echo from the void by iconofsin.eth 💖

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omg this whole thing with Hyperliquid is giving major regulatory plot twist vibes fr 😈

MAS Has No Clue If Hyperliquid Even Counts As Regulated 👀

According to a fresh Financial Times report dropped on October 7 the Monetary Authority of Singapore straight up says they have zero jurisdiction over this decentralized monster. They already warned folks that those perpetual futures? Not under MAS rules at all. People close to the regulator spilled that MAS sees the platform as not really based in Singapore because of its decentralized nature so even tho the company claims HQ there it might slip right out of their grip. Hyperliquid Labs told FT they are indeed set up in Singapore and job posts from just last week were still hunting for folks who can show up at the Singapore office. Company docs also list it as the registered spot. They made it crystal clear tho that Hyperliquid stays unregulated and has never claimed any MAS license while still playing nice with regulators overall. This matters big because the numbers are insane. Over the past 12 months through October 6 the protocol raked in 730.5 million in revenue and 723.7 million in operating net income. Q3 perpetual derivatives volume hit 716.4 billion with open interest chilling at 16.4 billion.

HIP-3 Markets Are Eating Up More Volume 💀

All this drama hits right when HIP-3 is expanding the on-chain perp options like crazy. At TOKEN2049 Singapore founder Jeff Yan dropped that these deployer markets once made up 51 percent of trading volume back in July. Data shows they now sit at 36.6 percent of total Q3 volume up from 32.7 percent in Q2. Yan pointed out users are chasing on-chain versions of stuff like crude oil perps and pre-IPO plays because they used to be hard to touch. He framed it more like infrastructure than a regular trading app saying no one competes with the internet after all. Meanwhile HYPE the native token smashed past its August high of 82 and got super close to 98 on September 23 before pulling back over 7 percent off that ATH. Right now it sits near 91 after dipping around 2 percent in the last day. This whole decentralized HQ mystery feels kinda sinister but also kinda exciting if you ask me 🖤🌙🔮📉💸🕸️✨

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Just another echo from the void by iconofsin.eth 💖

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Bitcoin’s kinda stuck trading near $84,000 rn after yet another flop trying to smash past its yearly open at $87,700. Bitfinex is saying the next big move hinges way more on fresh spot buying than some futures leverage pump fr.

Futures Leverage Crashing As Demand Cools 🖤

Bitcoin hit $87,200 back on October 2 before sliding under that key line. This rejection marks the third failed breakout in just ten days 💀. The real question now is if it can actually flip the trend tho.
Futures action pumped the whole thing with open interest jumping $2.1 billion before the September payrolls report. Then futures open interest dropped $1.5 billion as traders bailed after the data ✨. Aggregate futures open interest sits at about 625,000 BTC now, the lowest since January 1. That drop screams lower leverage overall 🦇.
Spot demand is fading too with US spot Bitcoin ETFs pulling just $241.1 million in net inflows from September 28 to October 2. That’s roughly 90% below the $2.39 billion from the week before 🌙. The nine-day inflow streak even snapped on September 30 with a $148.7 million outflow 🕸️.

ETF Flows And Those Make-Or-Break Levels 🔥

BlackRock’s IBIT grabbed $450.2 million while Fidelity’s FBTC saw $168 million flow out. Bitfinex pins the weaker vibe partly on the average ETF holder’s cost basis sitting around $84,320 📉. ETF inflows average about $65 million when Bitcoin trades within 2% of that level but jump to $136 million when it’s over 10% above 🪙. Bitfinex eyes $86,000 as a solid line while a dip under $82,600 could shove ETF holders back into losses 🌑.
Beyond the ETF noise the $84,000 to $84,500 zone holds roughly 867,000 BTC and it’s the biggest cost-basis cluster with about 75% of Bitcoin supply still in profit. Weak payroll growth is sparking October rate pause hopes even if inflation spending and Treasury yields stay elevated lol. Bitfinex expects BTC to consolidate between $84,000 and the yearly open. Stronger ETF inflows could push toward $90,000 while sustained trading under $81,300 might drag things to $77,000 and the True Market Mean near $77,200 into focus 🦇.

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Just another echo from the void by iconofsin.eth 💖

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