Cryptocurrency valuations staged a modest restoration this week as investor urge for food for digital property returned after the current market crash.
In a silver lining to the correction, the $19 billion liquidation occasion could also be seen as a shopping for alternative by traders, a dynamic that would gasoline Bitcoin’s (BTC) rise above $200,000 earlier than the tip of the yr, in response to Commonplace Chartered’s international head of digital property analysis, Geoff Kendrick.
Nevertheless, a lack of inflows from the US spot Bitcoin exchange-traded funds (ETFs) continues to restrict Bitcoin’s upside momentum.
As a result of lack of funding, Bitcoin is on monitor for its worst October efficiency since 2013, the final time it closed the traditionally bullish month within the purple.
$19 billion market crash paves method for Bitcoin’s rise to $200,000: Commonplace Chartered
Bitcoin should be on monitor to succeed in $200,000 by the tip of the yr, even after a document $19 billion market liquidation and renewed tariff threats from US President Donald Trump, in response to Commonplace Chartered’s international head of digital property analysis, Geoff Kendrick.
The crypto market skilled a document $19 billion liquidation occasion on the weekend of Oct. 10, which precipitated Bitcoin’s value to dip to a four-month low of $104,000 by Friday, Cointelegraph reported on the time.
Because the mud settles after the huge liquidation occasion, traders may even see it as a shopping for alternative. This dynamic could gasoline a Bitcoin rally to $200,000 by the tip of 2025, Kendrick mentioned. Regardless of the volatility, he remained assured that Bitcoin will rebound as markets stabilize.
“My official forecast is $200,000 by the tip of the yr,” he informed Cointelegraph throughout an unique interview on the 2025 European Blockchain Conference in Barcelona.
Regardless of the “Trump noise round tariffs,” Kendrick mentioned he nonetheless sees a value rise “effectively north of $150,000” within the bear case for the tip of the yr, assuming the US Federal Reserve continues reducing rates of interest to satisfy market expectations.
Hong Kong approves its first spot Solana ETF forward of US
Hong Kong accredited its first spot Solana ETF, marking the third spot crypto ETF accredited by the town after Bitcoin and Ethereum.
On Wednesday, the Hong Kong Securities and Futures Fee (SFC) granted approval for the China Asset Administration (Hong Kong) Solana ETF, which shall be listed on the Hong Kong Inventory Change, in accordance to a report by the Hong Kong Financial Instances.
The product will embody Chinese language yuan counters and US greenback counters, that means it may be traded and settled in each currencies. Every buying and selling unit will encompass 100 shares, with a minimal funding of about $100. The fund is predicted to debut on Monday.
The ETF’s digital asset buying and selling platform shall be operated by OSL Change, whereas OSL Digital Securities will function sub-custodian. ChinaAMC has set a administration price of 0.99%, with custody and administrative charges capped at 1% of the sub-fund’s web asset worth, leading to an estimated annual expense ratio of 1.99%.
Aave DAO proposes $50 million annual token buyback utilizing DeFi revenues
Aave’s decentralized autonomous group (DAO) launched a proposal to create a long-term, protocol-funded buyback program that will use as much as $50 million in annual income to repurchase Aave tokens.
The proposal, submitted on Wednesday by the Aave Chan Initiative (ACI), seeks to make buybacks a everlasting element of Aave’s tokenomics. Below the plan, the Aave Finance Committee (AFC) and TokenLogic would lead the execution, repurchasing $250,000 to $1.75 million in Aave (AAVE) tokens weekly, relying on market circumstances, liquidity and volatility.
If accredited, the proposal will proceed by way of the Aave Request for Remark (ARFC) stage for group suggestions, adopted by a Snapshot vote and ultimate onchain governance affirmation. In contrast to short-term market interventions, the proposal goals to institutionalize buybacks as a recurring mechanism, making the DAO an lively capital allocator.
The ACI mentioned this system builds on the success of different buyback initiatives. In April, Aave soared by 13% because the group accredited a $4 million token buyback.
China’s finances AIs are trouncing ChatGPT and Grok at crypto buying and selling
Chinese language synthetic intelligence fashions are outperforming their US counterparts in cryptocurrency buying and selling, in response to knowledge from blockchain analytics platform CoinGlass, as competitors between main generative AI chatbots intensifies.
AI chatbots DeepSeek and Qwen3 Max, each developed in China, led the continued crypto buying and selling experiment on Wednesday, with the previous being the one AI mannequin to generate a constructive unrealized return of 9.1%.
Qwen3, an AI mannequin developed by Alibaba Cloud, got here in second with a 0.5% unrealized loss, adopted by Grok with a 1.24% unrealized loss, in accordance to blockchain knowledge platform CoinGlass.
OpenAI’s ChatGPT-5 slipped to final place, with a lack of greater than 66%, taking its preliminary account worth of $10,000 to only $3,453 on the time of writing.
The outcomes have stunned crypto merchants, provided that DeepSeek was developed at a fraction of the price of its US rivals.
DeepSeek’s success got here from betting on the crypto market’s rise. The mannequin took leveraged lengthy positions throughout main cryptocurrencies, reminiscent of Bitcoin, Ether (ETH), Solana (SOL), BNB (BNB), Dogecoin (DOGE) and XRP (XRP).
BNB wins “Uptober” amid Binance market crash scrutiny
October is traditionally certainly one of Bitcoin’s best-performing months, however this yr, BNB is stealing the present.
“Uptober” — coined to explain Bitcoin’s sometimes bullish Octobers — started on a excessive notice this yr, when the US authorities shutdown had simply begun. Now, as Washington’s funding impasse stretches previous three weeks, that optimism has pale amid commerce tensions and the aftermath of a historic liquidation occasion.
In the meantime, BNB, the native token of Binance’s BNB Chain, has set new all-time highs twice this month. The community is experiencing a surge in memecoin buying and selling and is competing straight with Hyperliquid within the decentralized perpetuals market by way of its Aster platform.
Though BNB has since retreated from its peak, it stays up about 6% because the begin of October. Nonetheless, these beneficial properties are set in opposition to the backdrop of rising scrutiny over Binance’s alleged position within the current market crash.
DeFi market overview
In line with knowledge from Cointelegraph Markets Professional and TradingView, many of the 100 largest cryptocurrencies by market capitalization ended the week within the inexperienced.
The Zcash (ZEC) privateness coin rose over 33% because the week’s largest winner, adopted by memecoin launchpad platform Pump.enjoyable’s (PUMP) token, up 26% in the course of the previous week.
Thanks for studying our abstract of this week’s most impactful DeFi developments. Be a part of us subsequent Friday for extra tales, insights and schooling concerning this dynamically advancing area.
