News
The day at a glance · 4 min read
Mood · Risk-On
+65
Sentiment, −100 to +100
Bitcoin Price
$86,000
BTC ETF Inflows (2 days)
$1.7B
Ethereum Level
2,800
Key driverBitcoin ETFs recorded $1.7 billion in net inflows over two days as BTC rose above investors' average cost basis, signaling continued institutional demand
Daily briefCrypto & Web3· Money365.Market AI ·

Bitcoin Holds $86K as ETFs Pull $1.7B; BitMEX Shuts Down

BTC consolidates near $86,000 with strong ETF inflows. CFTC advances tokenization agenda while BitMEX closes after 11 years.

Bitcoin & Ethereum

Bullish

FTX/Alameda ETH Transfer

$75M
BTCETH
Bitcoin has consolidated near $86,000 as the rally narrows, with Brent crude oil slipping below $100 per barrel. US spot Bitcoin ETFs recorded more than $1.7 billion in net inflows over two days as Bitcoin rose above investors' estimated average cost basis. On-chain analysis concluded that signals had confirmed the new Bitcoin bull market, though the $90K level presents profit-taking risk according to market observers.
Ethereum pulled back into a key trendline as risk sentiment took a hit after Trump's remarks on Iran. The cryptocurrency stalled around the 2,800 level, with technical analysis showing support at 2,560 and potential upside targets at 3,000. FTX and Alameda-linked wallets sent 75 million dollars in ether to Wintermute according to onchain data.

Crypto Stocks

Bullish

MSTR STRC Buyback

1.77M shares

STRC Buyback Cost

$174M

Combined Weekly Spend

$250M
MSTRHOOD
Strategy (MSTR) resumed Bitcoin purchases after a two-week pause and continued buying back its STRC shares. The company repurchased 1.77 million STRC shares for $174 million, taking its combined Bitcoin and STRC spend to nearly $250 million for the week. Other corporate treasuries including BMNR and ASST also continued adding to their crypto holdings.
Robinhood Markets (HOOD) was highlighted in market analysis noting that tokenized stocks are coming to the platform. The company's revenue growth has rebounded, driven by transaction-based revenues and products like prediction markets, though one analysis downgraded the stock to sell.

Regulation & Policy

Bullish
CFTC chair Michael Selig pushed tokenization as a priority, stating it could reshape financial markets as the CFTC and SEC continue advancing onchain initiatives despite the CLARITY Act setback. The CFTC effectively signaled it intends to move forward with a crypto market framework using its existing authority rather than waiting for Congress, after rulemaking submissions became public last week.
The SEC has opened the door to onchain stocks as regulators advance tokenization efforts across both agencies. US President Donald Trump previously tapped David Sacks as his AI and crypto czar before Sacks stepped down from the role earlier this year after reaching his service limit as a special government employee. The US Treasury secretary has emerged as frontrunner for Trump's AI czar role according to reports.

Institutional & Infrastructure

Neutral

Raiffeisen Potential Reach

18M customers
COIN
Raiffeisen will offer crypto trading across 11 European markets via Bitpanda. Bitpanda will provide crypto infrastructure to Raiffeisen network banks, potentially extending digital asset access to about 18 million customers across the banking network.
BlackRock stated that AI agents will soon buy their own computing power and data using stablecoins, highlighting the expanding use cases for digital assets in autonomous systems.
Coinbase (COIN) users can now borrow USDC against bitcoin at a fixed rate, expanding the exchange's lending product offerings.
BitMEX officially ended crypto trading operations and closed its doors after 11 years as a perpetuals pioneer. The platform has ended exchange operations while withdrawals remain open as the crypto derivatives platform urges users to remove their funds.

Protocol & Security Developments

Neutral

FomoPeek Theft

$580K
Solana started testing an upgrade that could cut finality from 12.8 seconds to 150 milliseconds, representing a significant performance improvement for the blockchain network. The XRP Ledger retried an upgrade that lets banks split payment and compliance duties, advancing institutional banking capabilities on the protocol.
Zcash faces potential fund freezing in its legacy Sprout pool from the November upgrade. The proposed NU7 change would disable version 4 transactions, leaving ZEC in Zcash's legacy Sprout shielded pool unspendable if users do not migrate beforehand.
A malicious iOS app called FomoPeek has been linked to $580K in crypto theft according to SlowMist. SlowMist said malicious FomoPeek versions distributed through Apple's App Store used iOS kernel exploits to escape the sandbox and access sensitive data from other apps.

Looking Ahead

Neutral
Bitcoin has achieved a winning streak not seen in over a decade according to market analysis, with the $90K level presenting the next key resistance zone where profit-taking risk may emerge. Risk sentiment remains tied to US-Iran developments, with Trump stating the US would make a deal with Iran after the November elections, tempering earlier de-escalation expectations that had supported crypto assets.
Today's Flash US PMIs and tomorrow's Trump-Xi meeting will provide additional macro catalysts, though the focus remains on geopolitical developments and their impact on oil prices and broader risk appetite. If de-escalation continues and markets sense an earlier end to the conflict, crude oil will continue to drift lower and support risk assets like cryptocurrencies.

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