Crypto Markets Wait as US Government Shutdown Drags On

Americaโ€™s federal government has entered its third week of shutdown, leaving as many as 16 exchange-traded funds (ETF) awaiting approval should the shutdown continue into November. Most of the US government came to a standstill on Oct. 1 when the Republicans and Democrats failed to reach a funding agreement. This has caused agencies, including the US Securities and Exchange Commission, which approves ETF applications, to run with only essential staff.ย  The crypto industry was set for a flood of ETFs in October, with the SEC set to make their final…

Mystery Whale Opens $163M Bitcoin Short After $192M Profit

A huge crypto derivatives speculator that recently made $192 million betting on the crypto market with a curiously timed short has opened up more bearish positions.ย  The whale trader (0xb317) on the Hyperliquid decentralized derivatives exchange has opened a $163 million leveraged perpetual contract to short Bitcoin (BTC) on Sunday. The 10x leveraged position is currently valued at $3.5 million in profit, but it will be liquidated if BTC reaches $125,500. The entity attracted attention from the crypto community after opening a short position just 30 minutes before Trumpโ€™s tariff…

Solana (SOL) Pushes Higher Again โ€“ Has It Finally Found Its Short-Term Bottom?

Solana started a fresh increase above the $180 zone. SOL price is now consolidating above $185 and might aim for more gains above the $200 zone. SOL price started a fresh upward move above the $175 and $180 levels against the US Dollar. The price is now trading below $200 and the 100-hourly simple moving average. There is a bullish trend line forming with support at $188 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could extend gains if it clears the $200 resistance…

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Steak โ€˜N Shake U-Turns on ETH Payment Idea

Steak โ€˜n Shake has reversed course on a potential plan to accept Ether payments after several Bitcoiners balked at the idea of the fast food chain expanding beyond BTC. Steak โ€˜n Shake asked its 468,800 X followers whether it should accept Ether (ETH) on Saturday, promising to โ€œabide by the results of the poll.โ€ The poll saw 53% of 48,815 votes go for โ€œYes,โ€ but the fast-food chain suspended it around four hours later due to backlash. โ€œPoll suspended. Our allegiance is with Bitcoiners. You have spoken,โ€ it said on…

XRP Price Climbs Past $2.50 โ€“ Bulls Eye Next Barrier After Solid Recovery

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked…

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Crypto Funding Rates Plunged To 2022 Lows Amid Liquidations

Funding rates across crypto derivatives markets plummeted to their lowest levels since the depths of the 2022 bear market, as short sellers mounted up over the weekend. The dramatic fall in funding rates was reported by onchain analytics provider Glassnode on Sunday. โ€œThis marks one of the most severe leverage resets in crypto history,โ€ the analysts noted, stating it was a clear sign of โ€œhow aggressively speculative excess has been flushed from the system.โ€ Funding rates are periodic payments between traders in the most popular crypto derivatives โ€” perpetual futures…

Ethereum Surges Past $4,100 โ€“ Are Bulls Ready For The Next Big Leg?

Ethereum price started a fresh recovery above $4,000. ETH is now showing positive signs but faces a major resistance near the $4,250 level. Ethereum started a recovery wave above the $4,000 and $4,100 levels. The price is trading above $4,150 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $4,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it trades above $4,250. Ethereum Price Starts Recovery Ethereum price started a…