Bitcoin holds steady as the market resets after a massive leverage flush

  • The crypto market is stabilizing after a sharp correction and a massive leverage flush.
  • Analysts see the move as a healthy reset, not a structural breakdown.
  • While speculators were purged, institutional money continues to accumulate.

A fragile but significant calm has settled over the cryptocurrency market, as it begins the slow and painful process of healing from a brutal correction that has purged the speculative excess from the system.

Bitcoin is holding steady, a quiet resilience that analysts believe is not a sign of weakness, but of a market that has undergone a healthy and necessary reset.

As Asia begins its trading day, Bitcoin is hovering around $110,300 dollars, with Ethereum changing hands at $3,970.

This newfound stability comes after a sharp and violent sell-off that had pushed Bitcoin as low as 104,000 dollars just last week.

The great reset: A cleansing of speculative excess

The key to understanding the market’s current state is to see the recent crash not as a catastrophic failure, but as a violent and necessary cleansing. In a recent market note, the analytics firm Glassnode described the move as a “flush, not a failure.” 

The firm’s analysis shows that the speculative leverage that had been driving the market has been decisively unwound, futures open interest has fallen sharply, and traders have been realizing losses in a defensive normalization, not a full-blown capitulation.

This view is echoed by other market observers who see a similar dynamic playing out in the world of capital formation.

The market maker Enflux, in a note to CoinDesk, highlighted the news of Blockchain.com’s planned US SPAC listing as a “full-circle moment” for crypto exchanges, a sign that the industry is once again re-engaging with the public markets, but this time from a position of greater maturity.

The quiet accumulators: The giants beneath the surface

While the speculative layer of the market has been flushed out, a different and far more powerful story is unfolding beneath the surface.

While retail traders were being liquidated, the institutional giants were quietly buying the dip.

Enflux pointed to Tom Lee’s Bitmine allocating another $800 million to buy more ETH as an “infrastructure-scale commitment,” a clear and powerful sign that institutional money is not just staying, but is actively accumulating.

This is the great divergence that now defines the market: the short-term speculators have been purged, while the long-term capital is quietly and methodically rebuilding the foundation.

A new harmony in a chaotic world

This reset is also reshaping the very narrative that governs the market. As Enflux noted, gold’s continued and stunning strength—surging to a new record of $4,380.89 an ounce—is no longer seen as a threat to Bitcoin, but as a complementary signal.

It shows that in a world of deep macroeconomic and geopolitical uncertainty, digital assets now coexist with traditional hedges, a sign of a broader portfolio shift toward diversification, not abandonment.

The market may be wounded, but it is also wiser, and a new, more resilient foundation is quietly being laid.

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BlackRock brings Bitcoin ETP to UK as regulator opens door for crypto products

  • ETP mirrors bitcoin price and trades via the London Stock Exchange.
  • UK aims to become a global hub for regulated digital-asset products.
  • FCA allows tokenisation of investment funds using blockchain technology.

The investment giant BlackRock has launched its first bitcoin-linked exchange-traded product (ETP) in the United Kingdom, signalling a major step in bridging traditional finance with the crypto sector.

The move follows the Financial Conduct Authority’s (FCA) decision to ease restrictions on crypto investment vehicles, allowing investors to gain exposure to bitcoin without directly holding it.

The launch not only widens access to digital assets for UK investors but also highlights a growing convergence between global asset managers and regulators in adapting to the evolution of financial markets.

BlackRock’s bitcoin ETP debuts on the London Stock Exchange

The iShares Bitcoin ETP, now listed on the London Stock Exchange, is designed to mirror the price of bitcoin and offer exposure within a regulated structure.

The product allows investors to buy fractions of bitcoin through units starting at about $11, making participation in the asset class more accessible.

Unlike holding bitcoin directly, investors can trade the ETP through standard brokerage accounts, bypassing the complexities of digital wallets or private key management.

The product’s underlying assets are securely held by regulated custodians, ensuring compliance and oversight under the UK’s financial rules.

BlackRock’s UK-listed ETP builds on the firm’s earlier success with its bitcoin exchange-traded fund (ETF) in the United States, which has accumulated over $85 billion in net assets.

It also adds to its European range, complementing listings in Switzerland, Paris, Amsterdam, and Frankfurt.

FCA’s easing of crypto investment restrictions

The launch comes shortly after the FCA lifted its four-year ban on crypto exchange-traded notes (ETNs) on 9 October 2025.

The regulator stated that UK investors could now access such products through approved exchanges, reflecting a broader acceptance of crypto-linked investment options.

The decision marks a turning point for crypto regulation in the UK.

It suggests a shift from outright restrictions to a more measured approach that balances investor protection with innovation.

The FCA’s announcement followed months of consultation with industry players and international regulators.

Expanding opportunities for asset managers and investors

BlackRock’s move is expected to encourage other global asset managers to follow suit, as the UK repositions itself as a hub for financial innovation post-Brexit.

The FCA’s approval has opened the door for firms such as VanEck, DWS, and WisdomTree to explore similar launches.

For retail investors, the product offers exposure to bitcoin’s price movements through a traditional investment wrapper.

It eliminates the need for managing crypto wallets and navigating unregulated exchanges, while allowing investment through familiar platforms.

The regulator’s decision also aligns with the UK Treasury’s ambition to make the country a global centre for digital assets.

It supports ongoing efforts to integrate blockchain into traditional finance, paving the way for tokenised funds and blockchain-based asset management in the future.

Crypto risks and the future of tokenisation in the UK

Despite the easing of rules, the FCA maintained that its ban on crypto derivatives for retail investors will remain.

While the ETP operates under a regulated structure, exposure to Bitcoin still carries the same volatility and market risks associated with the underlying asset.

In parallel, the UK is exploring broader blockchain adoption across financial services.

On 14 October 2025, the FCA announced new provisions allowing asset managers to use distributed ledger technology for fund tokenisation.

The move is intended to foster innovation and efficiency, signalling that the regulator sees long-term potential in blockchain applications beyond cryptocurrencies.

By facilitating regulated access to bitcoin and promoting tokenisation, the UK is gradually laying the groundwork for a digital financial ecosystem where traditional and decentralised finance coexist.

BlackRock’s ETP marks a key milestone in this transition, setting the stage for more institutional crypto products in one of the world’s leading financial markets.

 

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Bitcoin’s October slowdown masks underlying strength, analysts say

  • Bitcoin is lagging in October, but analysts say its stability signals strength.
  • The “digital gold” is failing to rally alongside gold, which is hitting new highs.
  • One analyst says a massive move, similar to late 2024, “will start very soon.”

A strange and deceptive calm has settled over the Bitcoin market.

While its analog cousin, gold, is once again surging to new all-time highs and US stocks are basking in the green, the king of crypto remains stuck in a frustrating holding pattern, stubbornly refusing to join the party.

But for some of the market’s sharpest observers, this is not a sign of weakness; it is the quiet coiling of a spring, the calm before a powerful and imminent storm.

The price action has been a familiar and frustrating story for the bulls. Bitcoin has slipped 1.2 percent over the past 24 hours to $111,500, with the rest of the crypto sector seeing even steeper losses.

But beneath this sluggish surface, a powerful undercurrent of institutional demand and a shifting macroeconomic tide are quietly building a case for a major breakout.

A prophecy of a powerful move

Speaking at the Digital Asset Summit in London on Wednesday, Quinn Thompson, the chief investment officer at Lekker Capital, delivered a bold and bullish prophecy.

He argued that Bitcoin’s current decoupling from gold is a temporary anomaly that is about to violently correct itself.

“I posit that we will catch up to gold,” he told the audience. 

“It will start very soon and the move that is about to come in bitcoin and crypto broadly will resemble a November 2024 and an October 2023 type of move.” 

These were periods of explosive, parabolic growth, and Thompson’s prediction is a clear signal that he believes a similar fire is about to be lit.

A ‘floor’ of demand, a path to $150,000

This view is not held in isolation. Matt Mena, a crypto research analyst at 21Shares, voiced a similar outlook, arguing that Bitcoin’s remarkable durability in the face of global uncertainty is a testament to its underlying strength.

This, he says, is “underscoring how structural demand—anchored by ETF inflows and a more dovish policy outlook—continues to provide a floor.”

With the speculative leverage recently flushed out of the system and a new era of monetary easing on the horizon, Mena is now projecting that Bitcoin could climb to $150,000 before the end of the year.

The shadow of the Fed looms large

The key to unlocking this potential, all agree, lies with the US Federal Reserve. The market’s conviction that the central bank is on a firm path to continue easing its monetary policy is the primary engine of the current “risk-on” mood.

That conviction was strengthened on Wednesday with the release of the Fed’s Beige Book, which reported growing signs of weakness in the US labor market.

Fed Chair Jerome Powell himself has acknowledged this “softness,” a clear signal to the market that further rate cuts are very much on the table for the two remaining policy meetings this year.

For now, Bitcoin waits, a sleeping giant biding its time. But if the analysts are right, it is a slumber that is about to come to a spectacular and explosive end.

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Crypto markets turn red after Trump threatens to halt cooking oil imports from China

  • The crypto market turned red after a new tariff threat from President Trump.
  • Trump threatened to halt cooking oil imports from China over soybean purchases.
  • Bitcoin fell 2.4 percent and Ether dropped 3.3 percent within an hour of the post.

A single social media post has once again sent a jolt of fear through the cryptocurrency market, as a fresh and unconventional tariff threat from US President Donald Trump ignited a new wave of selling, plunging the entire digital asset space into the red.

The sudden downturn is a stark and painful reminder of the market’s extreme sensitivity to the president’s every whim, a fragility that was brutally exposed in a historic liquidation event just last week.

An ‘economically hostile act,’ an immediate market reaction

The catalyst for the latest sell-off was a post on Truth Social on October 14, in which President Trump took aim at Beijing’s trade behavior, specifically its failure to purchase American soybeans.

“I believe that China purposefully [is] not buying our Soybeans, and causing difficulty for our Soybean Farmers, [which] is an Economically Hostile Act,” Trump wrote.

We are considering terminating business with China having to do with Cooking Oil, and other elements of Trade, as retribution. As an example, we can easily produce Cooking Oil ourselves, we don’t need to purchase it from China.

The market’s reaction was immediate and severe. Within an hour of the post, Bitcoin (BTC) had dropped by 2.4 percent to around $112,861, while Ether (ETH) fell 3.3 percent to $4,108.

The total crypto market capitalization declined by roughly 2.9 percent, a clear and direct response to the president’s latest trade war gambit.

The ghost of liquidations past

This latest sell-off, while significant, is a mere aftershock compared to the earthquake that rocked the market last week.

A previous threat from Trump to impose 100 percent tariffs on all Chinese imports had triggered a violent and historic crash.

At its peak, that “bloodbath” saw more than 19.2 billion dollars in leveraged positions liquidated, marking the largest single-day wipeout in crypto’s history and overwhelming major trading platforms like Binance and Coinbase.

The memory of that carnage is still fresh, and it has left the market in a deeply fragile and nervous state.

Even before Trump’s latest post, crypto analysts had been warning of an impending market crash, with one popular analyst telling the trading community on October 13 to exit the market as a “big dump” was coming.

A market on a knife’s edge

The latest data from Coinglass shows that the market is still bleeding from last week’s wounds.

Over the past 24 hours, another 715.13 million dollars in positions have been liquidated, the vast majority of which were bullish long positions.

This new wave of selling, sparked by a presidential post about soybeans and cooking oil, is a potent symbol of the strange and unpredictable forces that now govern the digital asset space.

In a market haunted by the ghost of a historic crash and stalked by the whims of a single Twitter feed, the only certainty is more uncertainty to come.

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Beyond Bitcoin: How Asia’s new crypto playbook is breaking from the west

  • A reported $600 million BNB fund signals a shift in Asia’s crypto strategy.
  • Asian institutions are favoring ‘infrastructure tokens’ over store-of-value.
  • The West tokenizes TradFi, while the East builds crypto-native liquidity.

On the surface, it looks like a straightforward bet on a crypto behemoth.

The reported plan by China Renaissance to raise 600 million dollars for a BNB-focused investment vehicle, with Binance founder Changpeng Zhao’s own YZi Labs investing alongside, seems like a simple vote of confidence in the world’s largest crypto exchange.

But according to some of the market’s sharpest observers, this is something far deeper: a clear and powerful signal that a great divergence is underway, a fundamental split in how the East and the West are choosing to build their crypto empires.

A tale of two strategies: The great divide

While Western markets have been laser-focused on tokenizing traditional finance—turning Treasuries, funds, and real-world assets into digital tokens—a different playbook is being written in Asia.

According to the Singapore-based market maker Enflux, the China Renaissance move is a prime example of a broader and more profound strategic shift.

“Regional capital allocators are seeking exposure to infrastructure tokens that drive transaction flow, not just store-of-value assets,” Enflux said in a note to CoinDesk.

This ties into the broader shift where Asian capital markets are building out their own layer of crypto-native liquidity networks while Western markets tokenized TradFi.

Value in motion, not just in scarcity

The logic behind this divergence is both simple and powerful: in the long run, value should be captured not just by scarcity, but by activity.

Assets like BNB are the perfect embodiment of this philosophy. While Binance is not a publicly traded company, its BNB token serves as a powerful proxy, its value a direct reflection of the market’s confidence in the health and activity of the entire Binance ecosystem.

This is not an isolated trend. The recent move by Tron to create a publicly listed company is another key example.

The goal is to give investors direct, regulated exposure to the activity on the TRX network, a bustling hub for USDT transactions across Latin America.

It is a bet on the utility and the velocity of the network, not just the static value of its native token.

The blueprint for a new financial architecture

If this thesis is correct, then the China Renaissance fund is more than just a new investment vehicle; it is an early blueprint for the next generation of institutional products in Asia. These are not funds designed to simply hold digital gold.

They are permanent capital vehicles designed to own the very pipes of the crypto economy.
The message is clear.

While the West is focused on bringing the old world onto the blockchain, the East is increasingly focused on building a new world, with its own native financial architecture.

The great game of crypto is no longer being played by one set of rules; it has become a tale of two very different, and potentially competing, visions for the future.

Market movement

BTC: Bitcoin is trading above 114,500 dollars, holding relatively flat as the market finds its footing and stabilizes after the volatility of the previous weekend.

ETH: Ethereum has risen 1.5 percent to 4,230 dollars as network activity shows signs of picking up, a move of resilience that comes even as US-listed Ethereum ETFs saw 118 million dollars in outflows.

Gold: Gold has surged 2 percent to a new record of 4,103 dollars an ounce. The powerful move is being driven by renewed US-China trade tensions and the growing expectation of further Federal Reserve rate cuts, which are sending investors fleeing toward safe-haven assets.

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