Bitcoin Drops to 21-Day Moving Average With $84,000 at Risk

Bitcoin (BTC) dipped below $84,000 on Wednesday as flash downside liquidated over $500 million in crypto long positions. Key points: Bitcoin briefly dropped to $83,560 but held support at its 21-day moving average, which currently stands at $83,850. Analysis flagged 40x-leveraged BTC shorts on Hyperliquid appearing immediately before the downside ensued.  Analysis by Rekt Capital…

Arkansas Lawmaker Pushes for Congressional Action on Crypto as Regulators Step up

Representative French Hill, who chairs the House Financial Services Committee, said that though US financial regulators were moving forward with addressing digital assets, their actions lacked the long-term stability of legislation from Congress.  In a Wednesday Fox Business interview, the Arkansas lawmaker said the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission…

Wells Fargo in talks with Kraken parent Payward for crypto trading liquidity

Payward, the parent company of crypto exchange Kraken, is in talks to become a crypto liquidity provider to U.S. financial giant Wells Fargo (WFC), according to two people with direct knowledge of the matter. Under the potential deal, Wyoming-based Payward would supply liquidity for trading in crypto assets, the people said, speaking on condition of…

Bitcoin Price Downside Pressure Intensifies With Drop Below $83,000

Bitcoin (BTC) fell further at Wednesday’s Wall Street open as oil prices gained on US-Iran war headlines and stocks came off all-time highs. Key points: Bitcoin fell to $82,734 on Bitstamp, marking its lowest levels so far traded in October. US bond yields spiked to new 24-year highs and Brent crude oil prices rose to…

Sui Sets New Throughput Record in Offchain Stress Test

Sui’s programmable offchain tunnels reached 40.6 million transactions per second in a live test designed to simulate high-frequency activity between AI agents. Sui said its programmable offchain tunnels processed more than 40 million transactions per second during a live stress test, surpassing a previous record set in July. The test, conducted Wednesday at Sui Basecamp…

DOJ Cites Bitcoin Fog Ruling Against Roman Storm Acquittal Bid

Federal prosecutors cited a recent appeals court ruling involving cryptocurrency mixer Bitcoin Fog as supplemental authority for their opposition to Tornado Cash developer Roman Storm’s acquittal. In a Monday filing, prosecutors cited a Sept. 25 appeals court ruling that affirmed the convictions and sentence of Bitcoin Fog operator Roman Sterlingov. The D.C. Circuit held that…

‘Old Money’ Has Stronger Bitcoin ‘Diamond Hands’: Kevin Lee

BingX chief strategy officer Kevin Lee says wealthy “old money” investors are taking a longer-term approach to Bitcoin (BTC) than many crypto-native traders. In a Token2049 fireside chat with Cointelegraph head of multimedia Ciaran Lyons, Lee said he deals with “a lot of old money” seeking alternative investments. “They have stronger diamond hands than any…

Wall Street Wealth Creation Model Unsustainable for Most Participants: Hyperliquid CEO

Wall Street’s traditional wealth-creation opportunities, such as company stocks, remain largely inaccessible to the investing public until they list on exchanges, meaning that retail participants miss the most significant pre-listing gains, according to Hyperliquid co-founder and CEO Jeff Yan. “Some assets are only tradable by a few people for many orders of magnitude of its…

Here’s what bitcoin needs to break above $87,000: Crypto Daily

“I read the current move as evidence that the ETF bid that carried September has not yet returned strongly enough to offset renewed macro pressure. ETF inflows above roughly $300 million a session for several sessions (my threshold rather than a market one) would be an important signal that institutional demand is returning,” Oliver Carding,…

BitMine Sets 5% Ether Supply Hard Cap as Target Nears

BitMine Immersion Technologies will cap its Ether holdings at 5% of the cryptocurrency’s supply, according to Chairman Tom Lee. Speaking during a keynote at Token2049 in Singapore on Wednesday, Lee said BitMine is nearing the threshold after accumulating roughly 6 million Ether, equivalent to about 4.9% of the supply. He said the company needs about…