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Altcoins could rally as Bitcoin consolidates, but overleveraging may trigger cascading liquidations. Earlier this week, Bitcoin surged to an all-time peak of $126,000, which lifted the collective crypto market cap to around $4.4 trillion. The flagship crypto has since retreated to nearly $121,000. New data now suggest that altcoins could rally as Bitcoin consolidates. But structural fragility remains a major risk. Critical Divergence Shaping Up? According to Altcoin Vector, the market may be approaching a “turning point” moment for altcoins. The platform noted that historically, “Altseason” begins when the inverse correlation between smaller altcoins (excluding the top 10) and…

Bitcoin (BTC) dropped 3% amid a broader market rout after President Donald Trump announced that the US is considering escalating tariffs against China in response to newly imposed rare-earth export controls.Total liquidations reached $807 million over the past 24 hours, as BTC fell to $116,585 as of press time.On a lengthy statement on Oct. 10 via Truth Social, Trump accused China of attempting to monopolize rare-earth elements and announced plans for “a massive increase of tariffs on Chinese products coming into the United States of America.”Bitcoin traded at $118,239.25 as of press time, down 2.8% and briefly losing the $118,000 support level. Long…

TLDR: Pudgy Penguins partners with Nasdaq-listed Sharps to integrate NFTs with on-chain treasury strategies. Sharps Technology adopts Solana-based treasury, raising $400M via PIPE financing led by Cantor Fitzgerald. Partnership aims to boost institutional crypto adoption through Pudgy Penguins’ brand and treasury tools. Pudgy Penguins leverages its NFT IP to connect retail and institutional users with digital asset systems. Pudgy Penguins and Nasdaq-listed Sharps Technology have announced a partnership exploring the integration of NFTs with institutional-grade on-chain treasury tools. The collaboration intends to merge the cultural appeal of the Pudgy Penguins brand with Sharps’ Solana-based treasury system.  According to Wu Blockchain,…

Online prediction market Kalshi has raised more than $300 million at a $5 billion valuation as prediction markets move into the financial mainstream, according to a report by the New York Times on Friday.The company will now allow users in over 140 countries to place bets, marking its first major international expansion, the article said.Kalshi projects $50 billion in annualized trading volume this year, up from $300 million last year, and now holds more than 60% of global market share, surpassing rival Polymarket.The funding round was led by major investors including Sequoia Capital, Andreessen Horowitz, Paradigm, CapitalG, and Coinbase Ventures,…

Some analysts view the current correction as an opportunity. The cryptocurrency market, which marked a new record earlier this week when the total capitalization hit $4.4 trillion, is in a free-fall state after the US President Donald Trump issued a warning against China. Ethereum is among the poorest performers on a daily scale, losing nearly 6% of value. ETH has broken below $4,100, and it’s on its way to $4,000 for the first time in a few weeks. Its weekly losses are up to 10.6%, according to CoinGecko data. Similar losses are evident from other larger-cap alts such as…

Morgan Stanley is widening access to cryptocurrency investments for its wealth management clients, CNBC reported Wednesday, in a move that signals a broader shift among traditionally cautious Wall Street institutions.Starting next Wednesday, the bank will allow its financial advisors to offer crypto investments to all clients — regardless of risk tolerance or net worth — and across all account types, including retirement plans, according to the report. Previously, the option was limited to clients with at least $1.5 million in assets, an aggressive risk appetite and a taxable brokerage account.The decision marks a major expansion for Morgan Stanley’s $8.2 trillion…

Russia is moving closer to formally integrating crypto into its financial system, as officials acknowledge widespread adoption and the central bank prepares to let banks handle digital assets under tight controls.According to a report by TASS, Deputy Finance Minister Ivan Chebeskov said around 20 million Russians now use cryptocurrencies “for various purposes,” describing them as a reality the government must address rather than resist. TASS reported that Chebeskov argued the state needs to develop domestic infrastructure both to protect users and to secure “economic and technological benefits” for the country.The scale of that adoption was highlighted by new figures TASS…

Several recent token launches have seen dramatic drawdowns, bringing to token generation event (TGE) meta into question ahead a number of high profile airdrops.CAMP, the native token of an AI-focused layer 1 blockchain, is now down by 88% since it was introduced last month, while DoubleZero’s 2Z has lost 60% of its value in just eight days.There were also notable losses for Anoma’s XAN, down by 60% in a week. XPL, arguably one of the most hyped projects of the year, slumped below its TGE price on Friday amid a wave of negative sentiment around alleged founding team token sale,…

Strategy’s market net asset value (mNAV) compared to Bitcoin (BTC) its holdings dropped to 1.174 on Oct. 10, the lowest level in almost two years.The company’s shares fell 3% to $307.95 amid broader weakness in the crypto market, translating to a market cap of $88.4 billion. Strategy is the 121st-largest US public company, holding 640,031 BTC, worth approximately $75.4 billion.As of press time, Bitcoin traded at $117,824, down by over 3% in the past 24 hours. The narrowing gap between market capitalization and underlying asset value poses a threat to the sustainability of corporate Bitcoin treasury strategies.Falling mNAV leads to…

Cryptocurrency markets showed signs of consolidation in the second week of October, even as investors continued to bet on another “Uptober” rally to new highs.Also in the news this week was the $11 billion Bitcoin (BTC) whale who returned after a two-month hiatus to transfer another $360 million in BTC, signaling a potential rotation into the world’s second-largest cryptocurrency, with an additional $5 billion left in their wallet.In another potential Uptober catalyst, the US Securities and Exchange Commission (SEC) received 31 crypto exchange-traded fund (ETF) applications, with 21 of them filed during the first eight days of October.However, the ongoing…