The cryptocurrency market registered a marginal decline over the past 24 hours as prominent altcoins, including Ethereum (ETH) , Ripple (XRP) , and Solana (SOL), fell into bearish territory. However, Bitcoin (BTC) defied bearish trends and is up nearly 1%, trading around $114,542. The flagship cryptocurrency traded around $112,874 on Tuesday but recovered from this level to start October in positive 0 reached an intraday high of $114,744 before moving to its current level of $114,506. Meanwhile, ETH is struggling to regain momentum, with selling pressure pushing it back into the 1 altcoin briefly crossed $4,200 but lost momentum after reaching this level and moved to its current level of $4,142, down almost 1%.
XRP is down over 1%, while SOL is marginally up, trading around $209. DOGE traded around $0.233, while Cardano (ADA) is up 1.35%, trading around $0.805. Chainlink (LINK) , Stellar (XLM) , Hedera (HBAR) , and Polkadot (DOT) also registered notable declines. However, Toncoin (TON) and Litecoin (LTC) bucked the bearish trend to register marginal 2 Warns BNB Chain’s Official Account May Be Compromised Binance co-founder Changpeng “CZ” Zhao has warned that the official X account of BNB Chain could be 3 breach came to light after the official account posted a suspicious link promoting a fake BSC rewards 4 stated on his official account, “The BNB Chain X account may have been 5 do not click on any links recently posted from this 6 teams are investigating and will share updates as soon as possible.” The suspicious post on the BNB Chain account urged users to vote on an upcoming BSC rewards site and claimed early rewards would be given to participants within 24 7 message included a phishing link to steal unsuspecting users’ digital assets and private 8 warning comes after Zhao said earlier that the BNB Chain account may have been 9 is yet to issue an official statement.
Ripple, Coinbase, And BitGo Could Qualify As Custodians The United States Securities and Exchange Commission (SEC) has cleared the path for Ripple, BitGo, and Coinbase to become custodians for crypto 10 regulator’s Division of Investment Management issued a no-action letter on September 30 in response to a request from Simpson Thacher & Bartlett 11 SEC’s latest guidance allows investment advisers to use state-chartered trust companies as custodians under the Investment Advisers Act of 1940 and the Investment Company Act of 12 letter implies the SEC will not pursue enforcement action if advisers follow the conditions 13 qualify as a custodian, state-chartered trusts must be governed by a US state banking authority like the Department of Financial Services in New York or the Division of Banking in South 14 trusts must also provide independent control reports, audited financial statements that comply with GAAP, and custodial agreements forbidding the rehypothecation of client assets without their 15 also outlines additional safeguards, including keeping client assets off the custodian’s balance sheet and periodic due diligence checks, including surprise 16 Withdraws Brian Quintenz’s CFTC Nomination The Trump administration has withdrawn Brian Quintenz’s nomination as the head of the Commodity Futures Trading Commission (CFTC).
Quintenz confirmed the withdrawal, stating, “Being nominated to chair the CFTC and going through the confirmation process was the honor of my life. I am grateful to the president for that opportunity and to the Senate Agriculture Committee for its consideration. I look forward to returning to my private sector endeavors during this exciting time for innovation in our country.” The crypto industry vehemently backed Quintenz. However, his nomination was held up in Congress amid reported pushback from Gemini co-founders Tyler and Cameron 17 had claimed the Winklevoss twins had interfered with his nomination and pressured President Donald Trump to drop his 18 also shared a series of texts between him and the Winklevoss twins on X, claiming Trump was being 19 said at the time, “I believe these texts make it clear what they were after from me, and what I refused to promise.
It’s my understanding that after this exchange, they contacted the president and asked that my confirmation be paused for reasons other than what is reflected in these texts.” Bitcoin (BTC) Price Analysis Bitcoin (BTC) has bounced back to reclaim $115,000 after Tuesday’s drop to a low of $112,695. The flagship cryptocurrency rose by over 2% on Sunday to $112,000. Buyers retained control on Monday as the price rose almost 2% and settled at $114,365. However, selling pressure returned on Tuesday as BTC fell to an intraday low of $112,695 before settling at $114,067, ultimately registering a marginal 20 is up almost 2% during the ongoing session, trading around $116,012.
BTC’s start to October aligns with predictions that the bull market will resume in 21 and the broader cryptocurrency market suffered a substantial drop in September, with the flagship cryptocurrency falling to a low of $109,623 on September 25. Additionally, gold and traditional markets have posted record highs, and analysts expect BTC to catch up sooner rather than 22 analyst stated, “Bitcoin tends to follow gold, 3-4 months down the line. $BTC began to mimic gold’s ‘rise → pause → last minute spike’ 23 the correlation holds, $BTC is now ready for a last-minute spike through October/November, breaking out of its rising wedge.” According to 50TFunds CEO Dan Tapiero, Bitcoin’s October bull market is yet to begin.
“Wake 24 bull market in Bitcoin has not started 25 price in gold terms as 5 years 26 cup and handle leads to new upside price discovery. 4% short rates too high, Usd bear now, DC reg wind at back, Dats, Etfs, Stables, Defi, Rwas etc New world.” However, pro traders remain jittery about holding downside risks despite BTC’s 27 is because the derivatives markets show heightened 28 are considering whether the metrics reflect market concerns or whether they are specific to the cryptocurrency market. BTC’s skew metric reached 5% on Tuesday before eventually returning to 8%, indicating a higher premium for put options. BTC’s skew metric generally ranges between -6% and 6% under normal 29 ended the previous weekend in the red, dropping 0.41% to $115,282 on 30 pressure intensified on Monday as the price fell by over 2% to $112,736.
Sellers retained control on Tuesday with BTC falling 0.64% to a low of $111,502 before settling at $112,017. Despite the overwhelming selling pressure, BTC recovered on Wednesday, rising over 1% to reclaim $113,000 and settling at $113,348.) Price Analysis Ethereum (ETH) has bounced back during the ongoing session after falling to a low of $4,094 on 31 altcoin faced substantial selling pressure last week, but has made an equally strong recovery to reclaim key 32 started the week positively, rising over 3% on Sunday and 1.78% on Monday to settle at $4,218. The price fell almost 2% on Tuesday before recovering and crossing $4,300 during the ongoing 33 has held firm despite the US government 34 political uncertainty could delay crucial US macroeconomic data, leaving markets 35 first government shutdown under President Trump lasted for three days, while the second stretched 35 days, becoming the longest government shutdown in US history.
However, John Glover, chief investment officer at Ledn, is optimistic about how markets will fare, stating, “While this was previously used as a way to force the holdouts in Congress to be more flexible in negotiations, it was largely seen both times as a very temporary situation, and risk markets, which initially sold off, bounced back 36 market will consider any dip in digital asset prices due to a shutdown as a buying opportunity.” Meanwhile, BitMine Immersion announced that its ETH treasury has crossed 2.65 million ETH tokens, worth $10.8 billion, following a series of 37 company recently purchased 234,846 ETH valued at $961.5 million, significantly expanding its market 38 firm’s total cash holdings crossed $11.6 billion as of September 39 also holds 192 BTC, worth $21 million, a $157 million stake in WLD treasury firm Eightco, and $436 million in unencumbered cash 40 aims to acquire 5% of ETH’s circulating supply, equalling 6.04 million tokens at current 41 ended the previous weekend down almost 1% at $4,479.
Selling pressure intensified on Monday as the price fell nearly 6% to $4,202, but not before dropping to an intraday low of $4,079. Sellers retained control on Tuesday as ETH fell almost 1% to $4,166. The price registered a marginal drop on Wednesday before plunging nearly 7% on Thursday as bearish sentiment 42 a result, ETH fell below the crucial $4,000 mark and settled at $3,876.) Price Analysis Solana (SOL) is up almost 4% as bullish sentiment returned after Tuesday’s drop to a low of $204. The altcoin has been on an upward trajectory since Friday, reaching $210 on 43 price continued pushing higher on Saturday, reaching $212 before dropping over 2% to $208.
The current session sees SOL at $216. Optimism around SOL has been rising after the Securities and Exchange Commission (SEC) adopted generic listing 44 new listing standards have made the 19b-4 review clock irrelevant and shifted the approval process to S-1 45 ETF analyst Eric Balchunas believes a Solana ETF approval is a 46 stated on X, “Honestly, the odds are really 100% 47 listing standards make the 19b-4s and their ‘clock’ meaningless.” Before the change, 19b-4 filings triggered a statutory review clock, giving the SEC a fixed timeline of 240 days to approve or deny an ETF. However, that timeline has become approval after the approval of the “generic listing standards.” “That just leaves the S-1s waiting for formal green light from Corp 48 they just submitted amendment #4 for 49 baby could come any 50 ready.” Jeffrey Ding, chief analyst at HashKey Group, believes a Solana ETF could trigger speculative buying, followed by a “sell the news” correction.
“A Solana ETF could trigger speculative buying ahead of approval, followed by a potential ‘sell the news’ correction once launched—similar to what we saw with Bitcoin and Ethereum ETFs.” SOL traded in bearish territory on Sunday (September 21), dropping 1.36%. Selling pressure intensified on Monday as the price fell nearly 7% to $220, but not before dropping to a low of $213. Sellers retained control on Tuesday as SOL fell over 3% and settled at $213. The price fell to an intraday low of $204 on Wednesday.
However, it recovered from this level to settle at $211, ultimately falling 0.77%.) Price Analysis Celestia (TIA) ended the previous weekend in the red, dropping over 2% to $1.683. Selling pressure intensified on Monday as the price fell almost 11% to a low of $1.413 before settling at $1.499. Sellers retained control on Tuesday as the price fell over 2% to $1.468. TIA fell 1.20% on Wednesday and over 6% on Thursday as bearish sentiment 51 a result, the price fell to a low of $1.337 before settling at $1.362.) Price Analysis Cardano (ADA) dropped over 1% on Sunday (September 21), falling to $0.885.
Selling pressure intensified on Monday as the price fell almost 7% to a low of $0.790 before settling at $0.825. Sellers retained control on Tuesday as ADA fell over 2% to $0.807. Despite the selling pressure, the price recovered on Wednesday, rising 1% to $0.813. Bearish sentiment returned on Thursday as ADA fell 6.03% to $0.764.
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