Crypto Price Analysis 10-8: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, BITTENSOR: TAO, FILECOIN: FIL
The cryptocurrency market has pulled back after Bitcoin (BTC) retreated from its new all-time high. As a result, the cryptocurrency market fell nearly 3% over the past 24 hours. BTC traded around $125,100 after retreating from its new all-time high on Monday. However, selling pressure intensified late on Tuesday as it fell to an intraday low of $120,741 before registering a marginal recovery. BTC is down nearly 2% over the past 24 hours, trading around $121,737.
Meanwhile, Ethereum (ETH) lost momentum after briefly crossing the $4,700 level and reaching an intraday high of $4,754, dropping below $4,500 to $4,464. The world’s second-largest cryptocurrency is down over 4%, trading around $4,465. Ripple (XRP) is down over 3%, trading around $2.86, while Solana (SOL) is also trading in the red at $221. Dogecoin (DOGE) is down almost 5%, while Cardano (ADA) is down 4% at $0.818. Chainlink (LINK), Stellar (XLM), Hedera (HBAR), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) also registered substantial declines over the past 24 hours.
SEC Chair To Frame “Innovation Exemption” Rulebook
The United States Securities and Exchange Commission (SEC) Chair Paul Atkins has asserted that a formal “innovation exemption” to support crypto firms will be finalized by the end of the year, despite the potential impact of the ongoing US government shutdown. Atkins stated,
“That’s one of the top priorities to try to get that because I want to be welcoming to innovators and have them feel like they can do something here in the United States, so that they don’t have to flee to some foreign jurisdiction.”
According to Atkins, the innovation exemption will give crypto companies building digital asset infrastructure a stable platform and a structured window for experimentation. This enables developers to quickly deploy blockchain-based services domestically rather than moving their operations overseas. Atkins stated during an event hosted by law firm Katten Muchin Rosenman LLP that the crypto industry had faced at least four years of repression, which pushed innovation abroad, rather than in the US.
Atkins believes an “innovation exemption” framework could accelerate the roll-out of on-chain financial products, while the SEC drafts broader rules for the digital asset ecosystem.
Strategy’s Bitcoin (BTC) Stash Closing In On Amazon, Google, Microsoft Cash Positions
Strategy’s $78 billion Bitcoin treasury is closing in on the massive cash positions of tech giants like Microsoft, Amazon, and Google. Microsoft shareholders had recently rejected a proposal to add Bitcoin (BTC) to its balance sheet. Strategy posted on X that the value of its Bitcoin (BTC) stash briefly crossed $80 billion when BTC crossed the $126,000 mark. BTC’s surge boosted the value of Strategy’s holdings closer to Amazon, Google, and Microsoft, which each hold between $90 and $97 billion in cash or cash equivalents.
Strategy’s routine BTC purchases have pushed the value of its treasury past the likes of Nvidia, Apple, and Meta. Berkshire Hathaway holds the largest cash pile of any company at $344 billion, while Tesla is the only other firm that holds BTC to make the list of the top ten largest corporate treasuries.
BitGo Secures VARA License
Digital asset infrastructure company BitGo has secured regulatory approval to offer specific services in Dubai. BitGo stated on Tuesday that its Middle East and North Africa (MENA) arm had secured a broker-dealer license from the Virtual Assets Regulatory Authority (VARA) in Dubai. The broker-dealer license allows BitGo to provide “regulated digital asset trading and intermediation services to institutional clients.” BitGo’s announcement comes just a few weeks after the company said its European subsidiary could offer crypto services to local investors under a license received from Germany’s Federal Financial Supervisory Authority. Ben Choy, general manager of BitGo MENA, stated,
“This approval allows us to serve institutional clients with greater scale, confidence, and integrity, while also underscoring the accelerating momentum within Dubai’s digital asset ecosystem.”
Intercontinental Exchange Invests $2B In Polymarket
New York Stock Exchange (NYSE) parent entity, Intercontinental Exchange, announced it is taking a $2 billion stake in the prediction market platform Polymarket. The $2 billion investment and deal values Polymarket at $8 billion, and marks the exchange’s expansion into event-driven markets as the nascent market gains popularity. The investment by one of the world’s leading exchange operators could help enhance Polymarket’s credibility. The Intercontinental Exchange stated that it would pay for the deal in cash and become a distributor of Polymarket’s event-driven data.
Prediction markets let users bet on outcomes across sports, entertainment, politics, and the economy. Users can bet on when the government shutdown will end, election results, and even things like the least-streamed song from an album. The deal is a major vote of confidence for Polymarket as it attempts to re-enter the US market after three years.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) registered a substantial decline on Tuesday, correcting after surging to a new all-time high of $126,296 on Monday. The flagship cryptocurrency ultimately settled at $124,720 on Monday but lost momentum on Tuesday, falling nearly 3% and settling at $121,393. BTC has recovered during the ongoing session, and is up almost 1% at $122,521.
BTC’s surge to a new all-time high came after one of the strongest weeks on record for digital assets. Global crypto exchange-traded products (ETPs) registered a staggering $5.67 billion in net inflows, their largest weekly haul, indicating a return of investor interest, fueled by a conviction about the “debasement trade” as geopolitical tensions escalate. Bitwise, in its weekly market report, stated that the current rally indicates that weakening confidence in fiat currencies and rising macroeconomic uncertainty are driving investors towards assets like BTC and gold. Analysts highlighted that the US Dollar Index (DXY) has fallen 10% year-to-date, while gold rose 50% and BTC 27%. Investors have started viewing BTC as a digital hedge that offers asymmetric upside in the race against currency debasement.
On-chain data has also revealed that Bitcoin whales withdrew over 49,000 BTC from centralized exchanges. Positive spot buying and moderate leverage indicate a sustainable push higher.
“Investors positioned on either side of the store-of-value debate could ultimately converge toward the same outcome, renewed capital inflows into digital assets.”
Meanwhile, simulations using data from the past decade show BTC has a 50% probability of crossing $140,000 this month. Economist Timothy Pearson stated,
“Half of Bitcoin’s October gains may have already happened, according to this AI simulation. There is a 50% chance Bitcoin finishes the month above $140,000. But there is a 43% chance Bitcoin finishes below $136,000.”
Peterson added that the prediction was based on hundreds of simulations based on real data, not biased opinions or human emotions.
“Every projection follows the same logic, price changes that match Bitcoin’s real historical, repetitive volatility and rhythm.”
BTC started the previous weekend with a marginal drop on Saturday before rising over 2% on Sunday and settling at $112,197. Buyers retained control on Monday as the price rose almost 2% to cross $114,000 and settle at $114,365. Despite the positive sentiment, BTC fell to a low of $112,695 on Tuesday. However, it recovered from this level to settle at $114,067, ultimately registering a marginal decline. Bullish sentiment returned on Wednesday as BTC rallied, rising over 4% to cross $118,000 and settle at $118,659. Buyers retained control on Thursday as the price rose 1.65% to reclaim $120,000 and settle at $120,621.
Source: TradingView
Bullish sentiment persisted on Friday despite volatility and selling pressure. As a result, BTC reached an intraday high of $123,996 before settling at $122,318. Buyers retained control on Saturday as the price registered a marginal increase and settled at $122,458. Bullish sentiment intensified on Saturday as BTC rallied, surging past $125,000 to a new all-time high of $125,559. However, it could not stay at this level and ultimately settled at $123,520. BTC surged to a new all-time high on Monday, crossing $126,000 to reach $126,296 before settling at $124,720. Despite strong bullish momentum, BTC retreated on Tuesday, falling nearly 3% and settling at $121,393. The price is up almost 1% during the ongoing session, trading around $122,467.
Ethereum (ETH) Price Analysis
Like Bitcoin (BTC), Ethereum (ETH) also registered a substantial decline on Tuesday. The world’s second-largest cryptocurrency started the week in positive territory, rising almost 4% on Monday and settling at $4,687, but not after briefly crossing the $4,700 mark. Selling pressure returned on Tuesday as the price fell by over 5% to $4,451. ETH is up almost 1% during the ongoing session, trading around $4,484.
ETH failed to claim $4,700 despite reaching an intraday high of $4,756 on Tuesday as a bearish divergence led to a substantial correction. The correction suggests buyers are losing strength at upper levels, and generally precedes a short-term reversal. On-chain and derivatives data are showing mixed signals. Spot cumulative volume delta (CVD) has registered a sharp drop, while futures open interest and futures CVD have remained at elevated levels. This indicates that leveraged traders are still active and positioning themselves for volatility.
Prevailing market conditions often act as a catalyst for investors on the sidelines who wait for liquidity-driven entries rather than impulsive moves. Analysts believe a potential liquidity sweep near $4,400 could act as a short-term reset. A rebound from this level will invalidate the bearish setup and indicate renewed bullish continuation. However, if ETH falls below this level, the correction could drag it towards $4,100. XWIN Research stated that the US M2 money supply, a measure of liquidity in the economy, has risen to a record $22.2 trillion. While BTC surged over 130% in response to the liquidity wave, ETH remains only 15% higher, indicating a liquidity lag.
However, several on-chain metrics indicate ETH may be catching up. Exchange reserves have fallen to around 16 million ETH, down 25% since 2022, indicating a sustained drop in sell-side pressure.
ETH started the previous weekend in the red, registering a marginal decline on Saturday. Price action turned bullish on Sunday as ETH rose over 3% and settled at $4,144. Buyers retained control on Monday as the price rose nearly 2% and settled at $4,217. Despite the positive sentiment, ETH was back in the red on Tuesday, dropping almost 2% to $4,145. Bullish sentiment returned on Wednesday as the price rose 4.92% to cross $4,300 and settle at $4,349.
Source: TradingView
Buyers retained control on Thursday as ETH rose over 3% to $4,486. The price faced volatility on Friday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as ETH rose $0.56% to reclaim $4,500 and settle at $4,512. Price action was mixed over the weekend as ETH fell 0.54% on Saturday and reached an intraday high of $4,616 on Sunday as bullish sentiment intensified. However, it could not stay at this level and settled at $4,515, ultimately rising 0.62%. ETH continued rising on Monday, reaching an intraday high of $4,738 before settling at $4,687. Selling pressure returned on Tuesday as the price fell by over 5% and settled at $4,451. ETH is up over 1% during the ongoing session, trading around $4,499.
Solana (SOL) Price Analysis
Solana (SOL) failed to crack the $240 level, losing momentum after reaching an intraday high of $237 on Monday. Selling pressure returned on Tuesday as the price fell by over 5% and settled at $220. SOL is up almost 1% during the ongoing session, trading around $222.
Analysts and investors have plenty to be bullish about regarding SOL. A recent report by 21Shares revealed that Solana generated over $2.85 billion in revenue over the past year. According to the report, Solana generated around $240 million in monthly revenue between October 2024 and September 2025. The figure peaked at $616 million in January, thanks to the memecoin boom. However, even after the memecoin boom, monthly revenue stayed between $150 and $250 million. Revenue from fees also registered a notable jump.
The report revealed that trading platforms remained Solana’s primary revenue engine, accounting for $1.12 billion. The report also added that Solana is significantly ahead of Ethereum at a comparable stage.
The 21Shares report also noted that several companies have rebranded themselves as Solana treasury companies. This has resulted in nearly $4 billion in SOL being held on the balance sheets of public companies. Recently, Nasdaq-listed Brera Holdings rebranded itself to Solmate after a $300 million oversubscribed PIPE raise.
SOL started the previous weekend in the red, registering a drop of almost 1%. However, it recovered on Sunday, rising 3.58% to settle at $210. Buyers retained control on Monday despite selling pressure as SOL rose 0.92% to $212. Despite the positive sentiment, SOL lost momentum on Tuesday, dropping over 2% to a low of $204, before settling at $208. Bullish sentiment returned on Wednesday as the price rallied, rising over 6% to reclaim $220 and settle at $222. Buyers retained control on Thursday as SOL rose nearly 6% to cross $230 and settled at $234.
Source: TradingView
However, SOL lost momentum on Friday, dropping 0.86% to $232. Sellers retained control on Saturday as the price fell by over 2% and settled at $227. SOL reached an intraday high of $237 on Sunday as markets rallied. However, it could not stay at this level and settled at $228, ultimately rising 0.35%. Buyers retained control on Monday as SOL reached an intraday high of $237 before settling at $232. Despite the positive sentiment, the price lost momentum on Tuesday, falling over 5% and settling at $220. SOL is up over 1% during the ongoing session, trading around $222.
Bittensor (TAO) Price Analysis
Bittensor (TAO) started the previous week on a bullish note, surging to an intraday high of $392 before settling at $310. The price lost momentum on Tuesday, falling nearly 3% to a low of $295 before settling at $302. Positive sentiment returned on Wednesday as TAO rose almost 6% and settled at $319. Buyers retained control on Thursday as the price rose over 2% to $326. Despite the positive sentiment, ARB returned to the red on Friday, dropping 1.39% and settling at $321.
Source: TradingView
Price action remained bearish over the weekend as ARB fell 0.54% on Saturday and 1.37% on Sunday to settle at $315. Bullish sentiment returned on Monday as the price rallied, rising over 9% to cross $340 and settle at $345. ARB lost momentum on Tuesday, falling over 4% and settling at $331. The price is up almost 1% during the ongoing session despite volatility and selling pressure, trading around $334.
Filecoin (FIL) Price Analysis
Filecoin (FIL) registered a dramatic drop on Monday (September 29), falling to an intraday low of $2.14 before settling at $2.20. Selling pressure persisted on Tuesday as the price fell 1.38% to a low of $2.12 before settling at $2.17. FIL recovered on Wednesday, rising almost 6% and settling at $2.30. The price continued pushing higher on Thursday, rising over 3% and settling at $2.37. ARB faced selling pressure and volatility on Friday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as the price registered a marginal increase and settled at $2.38.
Source: TradingView
Price action was mixed over the weekend as ARB registered a drop of almost 3% on Saturday and settled at $2.31. The price rallied to an intraday high of $2.40 on Sunday before settling at $2.32, ultimately rising 0.36%. Bullish sentiment intensified on Monday as FIL rose nearly 4% and settled at $2.40. The price returned to bearish territory on Tuesday, falling 5% and settling at $2.23. FIL is marginally up during the ongoing session, trading around $2.28.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
source : https://cryptodaily.co.uk