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- All about Bitcoin's two-week low
All about Bitcoin's two-week low
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Bitcoin holders anxious after latest pullback, fall in Open Interest
Key points:
Bitcoin’s latest pullback dragged the crypto’s price down to its two-week low.
Clear signs of FUD negated BTC’s returns over the last few weeks.
News - It’s been a testing time for Bitcoin, the world’s largest cryptocurrency, and its investors. Since hitting an ATH of close to $124,000 over a month ago, BTC has fallen by close to 10% to trade within a tight price range. In fact, its latest intraday pullback of almost 3% was accompanied by a similar drop in Open Interest. It fell by $3 billion in just 3 days.
Its latest bout of depreciation came on the back of market-wide liquidations, with some calculations estimating it to be close to $1.68 billion over a singular 24-hour period.
All’s not lost - There are still some visible silver linings to be looked at though. For instance, CryptoQuant implied that investors have been aggressively buying the dip. This was evidenced by the positive reading of the Coinbase Premium Index. Spot demand has remained fairly consistent too, with sustained accumulation trends crucial to keeping Bitcoin’s price close to the upper band of its price range.
Similarly, Bitcoin’s Net Realized Profit/Loss (NRPL) hasn’t flipped red yet - A sign that underwater holders are holding out for the next leg up.
On the macro front, the Fed’s expectations and positioning seemed to be skewed bullish too.
Cumulatively, it can be argued that this recent shakeout was carefully engineered, one that had traders leaning heavily into the “Uptober effect.”
Still winning popularity points - Despite its recent uncertainty on the price front, Bitcoin continues to be a popular choice as a treasury reserve though. Strive’s purchase of 5,816 BTC worth $675 million, followed by its proposed merger with Semler Scientific, would mean that the combined company will hold 10,900 BTC.
That would make it the 12th largest public Bitcoin holder.
Is structural weakness behind Ethereum’s latest price correction?
Key points:
World’s largest altcoin fell by almost 10% in the last 3 days alone.
ETH’s price depreciation mirrored that of the wider cryptocurrency market.
News - Like the rest of the altcoin market, corrections were the norm for Ethereum’s [ETH] price over the past week. As expected, these corrections were accompanied by major liquidation episodes, with the crypto seeing over $500M in forced liquidations from bullish leverage positions.
As the price fell and the liquidations came to the fore, ETH’s Annualized Monthly Futures Premium dropped to its lowest level in 3 months - A sign of weak demand for leveraged longs. It also seemed to allude to a lack of confidence among the bulls as the same slipped below the neutral 5% threshold.
Given how Ethereum’s movements mirrored that of the wider crypto market, it can be argued that there is no structural weakness to address at this point. Instead, the recent corrections were simply a product of panic selling that affected the general risk appetite for a while.
The altcoin’s increasing popularity as a corporate reserve plus sustained demand levels for Spot ETH ETFs are signs that Ethereum remains on a positive trajectory.
More ETH for corporates - BitMine’s latest update is testimony to Ethereum’s growing role within corporate treasuries. The company is in the news today after it announced that it had amassed 2.4M ETH - Over 2% of the altcoin’s total supply.
With its ETH holdings valued at above $10 billion, BitMine now has the world’s largest corporate ETH treasury.
AgriFORCE’s stock soars by 200% after AVAX One rebranding plans
Key points:
After Bitcoin and Ethereum, AVAX is entering the corporate treasury game.
Company’s announcements had a staggering impact on the stock value.
News - Bitcoin mining firm AgriFORCE is in the news today after it announced that it will rebrand as AVAX One and plans to raise $550M to focus on buying and holding AVAX - The native token of the Avalanche Network. In doing so, it intends to establish the first NASDAQ-listed company with a dedicated AVAX acquisition strategy.
According to Matt Zhang, nominated Chairman of the Board,
“Our near-term active strategy will focus on disciplined asset accumulation and, in the long run, acquiring and onboarding cash-flowing fintech businesses onto the Avalanche network. This creates a powerful growth flywheel and sustainable NAV premium that differentiates ourselves from all other digital asset treasury companies and ETFs.”
Here, it’s worth pointing out that the firm’s funding strategy will include a $300M PIPE deal, as well as $250M raised through private equity-linked instruments.
Cascading effects on the price front - Thanks to thse announcements, AGRI’s stock price rallied on the charts, with the same climbing by as much as 200% before correcting a little. On the crypto side of things, AVAX wasn’t immune to this update’s bullishness either.
Contrary to the larger crypto market, AVAX’s price appreciated by as much as 9%. Owing to the same, the altcoin emerged as one of the market’s biggest gainers over the last 48 hours.
Using the “Swiss Army Kinfe” - In fact, there is a lot of optimism right now as far as Avalanche is concerned. Anthony Scaramucci, Strategic Advisor at AGRIForce, is a case in point. According to the exec, Avalanche is the “Swiss Army Knife” of Layer-1 networks.
Here, it’s worth pointing out that at this point, there is no clarity on whether the rebranded company will continue to pursue Bitcoin mining or not.
USA, UK announce plans to set up Joint Task Force for crypto regulations
Key points:
Initiative is the latest effort towards stepping up collaboration in key fields like crypto regulations and innovation.
JTF includes U.S Treasury Secretary Scott Bessent and U.K’s Chancellor of the Exchequer Rachel Reeves.
News - The steady growth of the crypto sector over the past few years has precipitated a concerted effort among lawmakers worldwide to ensure a greater degree of uniformity and clarity as far as crypto regulations are concerned. For example - Just recently, President Donald Trump signed the GENIUS Act into law in an effort to overhaul the landscape for stablecoins in the United States.
The Joint Task Force announcement by the U.S and the U.K is another endeavour in that direction. The so-called “Transatlantic Taskforce for the Markets of the Future” will be expected to work towards collaboration and coordination efforts in the realm of digital assets, both in the short and long term.
As it stands, the JTF will report directly to both finance ministries. Additionally, the Task Force is expected to work on and compile a report on digital markets innovation in the next 180 days.
All the reactions - As expected, the announcement was received well by the crypto community.
According to Circle’s Chief Strategy Officer Dante Disparte, the JTF is a “pivotal step forward.”
Similarly, Coinbase’s Daniel Seifert claimed,
“Together, these two nations can unlock deeper liquidity, broader financial participation, and new capital for businesses, driving innovation, growth, and financial inclusion.”
More stories from the crypto ecosystem
Did you know?
In the United States, those with incomes of over $100K make up over 25% of all crypto-holders. The average American crypto-investor is also almost 10 years younger than the average American stock investor.
2018 saw someone pay 600 ETH for a CryptoKitty dragon. Back then, 600 ETH was valued at just about $170,000. Today, 600 ETH would be worth close to $2.5 million.
SpaceChain launched the first Ethereum node in space in 2021. This project was meant to enhance the security of Ethereum’s blockchain, while reducing its reliance on centralized infrastructure.
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Top 3 coins of the day
Mantle (MNT)
Key points:
MNT’s price corrected on the charts after hitting a new all-time high a few days ago.
ATH was preceded by the altcoin hiking by almost 60% in a matter of days.
What you should know:
It’s been a good few months for Mantle, the cryptocurrency now ranked 37th on the charts. For the longest time, MNT had been trading within a tight price range. In August, however, its price finally broke out and went on a steep ascent. 45 days later, it hit a new ATH of $1.86. Since then, the altcoin has corrected somewhat. However, it’s still only 8% off the aforementioned valuation.
Could more corrections be in the offing though? It’s too soon to say, but the altcoin’s technical indicators did seem to hint the same at press time. For instance, while the Moving Average crossed above the price candles, the Relative Strength Index fell towards the neutral zone after a fair tenure near the overbought zone.
Solana (SOL)
Key points:
At the time of writing, SOL was trading at $215.12.
Technical indicators flashed very obvious signs of its recent bearishness.
What you should know:
Solana has been one of the market’s biggest large-cap gainers in 2025. After a slow start to the year, the altcoin has appreciated significantly on the charts since the summer. In fact, such has been the scale of its uptick that many are now expecting the crypto to hit $300 before the year ends. However, it wasn’t to last, with the altcoin seeing consecutive red candles over the last 5 days and losing over 13% of its valuation.
This bearishness was represented by the crypto’s technical indicators too, with the Moving Average finding a position above the price candles. Similary, the Chaikin Money Flow fell towards zero as capital outflows increased across the board.
Official Trump (TRUMP)
Key points:
TRUMP’s long downtrend is getting worse and worse with every passing month.
Since mid-July alone, the altcoin has lost over 30% of its value.
What you should know:
After a spectacular start to the year, TRUMP’s price trajectory has disappointed many of its holders. The popular memecoin was once the talk of the town. However, it’s now down to 94th in the rankings, with the likes of Dogecoin, Shiba Inu, BONK, PEPE, and MemeCore all overshadowing it in the memecoin sector as well. Its price has fallen consistently since its highs in January-February 2025. And, despite brief bouts of respite, the memecoin hasn’t been able to record any significant uptrend on the charts since.
At the time of writing, the Parabolic SAR’s dotted markers were well above the price candles - A sign of market bearishness. Additionally, the Awesome Oscillator’s red histograms alluded to how weak the market has been for TRUMP lately.
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