“Rails, reserves, and reflexivity: when liquidity deepens and balance sheets adapt, price moves in steps, not slopes.”

NARRATIVE FORMAT

QUESTION OF THE DAY

If BTC clears and holds $120K this week, do you rotate some risk into selective high-beta names—or keep stacking base asset until $135–$150K validation?

BITCOIN PRICE ACTION

• When Will Be The Next Big Crypto Market Crash? Q4 2026 or Q2 2027 (BeInCrypto) 
• Uptober underway: Bitcoin closes in on 7-week high at $120K (Cointelegraph)
• Bitcoin hits $119.5K but RSI warns a BTC price pullback is next (Cointelegraph)
• Bitcoin millionaire addresses top 190,000 in Q3 2025 (Finbold)
• Bitcoin Entering 'Most Dynamic' Month on 99% Fed Rate Cut Odds (CoinDesk)
• JUST IN: Citi predicts Bitcoin will hit $181,000 in the next year 🚀 (The Daily Hodl, CoinDesk)
• Bitcoin’s next stop could be $125K(Cointelegraph) (E)
• Bitcoin Shows 835% Liquidation Imbalance Amid Epic Short Squeeze (UToday) (E)
• Bitcoin clears $120K as onchain data points to a new BTC accumulation phase (Cointelegraph, Decrypt, CoinDesk) (E)

BITCOIN MINING

• $21M in Bitcoin and Other Crypto Stolen From Japanese Miner SBI, Says Blockchain Sleuth (Decrypt) 
• Bitcoin Mining Hits Toughest Level Yet While Hashprice Slides (CoinDesk)
• Canaan shares surge after 50,000-rig Bitcoin mining deal (Cointelegraph) (E)

BITCOIN ADOPTION

• Lava raises $17.5M and launches bitcoin-backed lending platform (Blockworks, The Block) 
• JUST IN: 🇪🇸 Spanish bank BBVA to allow retail customers to trade Bitcoin and crypto 24/7. 🚀 

STRATEGIC RESERVE & CORPORATE TREASURY

• 🇸🇪 Swedish Parliament introduces proposal for a strategic Bitcoin reserve 🚀 Another one 🔥 (Cointelegraph, Decrypt)
• Crypto treasuries may soon start gobbling each other up: Coinbase (Cointelegraph)
• JUST IN: Michael Saylor and STRATEGY's Bitcoin holdings close at an all-time high $77.4 BILLION 🚀 (E)

ETHEREUM

• ETH surge to $4.5K proves the bottom is in: Data predicts a 100% rally next (Cointelegraph)

ALTCOINS

• XRP price: Why October will be the most bullish month of 2025 (Cointelegraph)
• XRP breaks above $3 on unexpected treasury announcement (The Street) (E)

STABLECOINS

• Stripe To Apply With OCC for Federal Banking Charter in Preparation for New Stablecoin Adoption Wave: Report (The Daily Hodl)
• 🇺🇸 Tether to Launch New USAT Stablecoin Through Rumble's Video Platform. - Bloomberg
• 🇺🇸 New York launches pilot program giving low-income residents $12,000 in stablecoins on Coinbase 🤯

ETFs

• BlackRock's Bitcoin ETF overtakes Deribit, proving 'ETFs are no joke' (The Street) (E)
• JUST IN: Today's total spot Bitcoin ETF volume tops $5 billion ✅ (E)

EXCHANGES

• Bullish launches in 20 US states after winning New York licenses (Cointelegraph) 
• Bullish to Offer Bitcoin Options Trading With Top-Tier Consortium of Trading Partners (CoinDesk)

LEGISLATION

• U.S. Senate Hearing on Crypto Taxes Reveals Headaches for Both Industry and IRS (CoinDesk) 
• New York Democratic Lawmakers Want Bitcoin Miners to Pay More Tax. (Decrypt) (E)

TAXES

• Bitcoin Giant Strategy Dodges Multi-Billion Tax Liability Following IRS, Treasury Guidance: TD (Decrypt, BeInCrypto) 

LEGAL

• UK Government Wants to Keep $7 Billion in Stolen Bitcoin It Has Seized (Decrypt) 

VOICES

• Veronika Kapustina: Crypto treasury ‘bubble’ fears overblown: TON Strategy CEO (Cointelegraph)
• Vugar Usi Zade: Bitget exec sees ‘no logical reason’ for an altcoin season this cycle (Cointelegraph)
• Vlad Tenev: 'Tokenization is Going to Eat the Entire Financial System' Says Robinhood CEO (CoinDesk)
• Charles Edwards: Bitcoin $120K breakout will lead to ‘very quick move’ to $150K (Cointelegraph)
• Arthur Hayes: Bitcoin Billionaire Predicts Europe Central Bank Turmoil Will Boost BTC (Decrypt) (E)

• RAY DALIO: "Bitcoin is being perceived by many as an alternative money and so is worth paying attention to." "I have some in my portfolio" 👀(E)

WHAT TO WATCH

LISTEN TO THIS! 

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