Daily Crypto Roundup - 15 Oct
Today’s Market Update
Yet, uncertainty around Trump's China tariffs continues to pose risks. A potential U.S.-China trade deal could spark a strong rally.
Daan Crypto Trades highlighted Bitcoin's key support and resistance levels, with the $112,000–$117,000 range being critical in the days ahead.
Michael van de Poppe observed Ethereum forming a higher low, setting up for a potential breakout within 1–2 weeks and positioning for a new all-time high.
Jelle pointed out that Solana has broken out of an 18-month re-accumulation range, successfully retested it, and is now trending higher.
With price back above $200, a move past $250 could open the path for significant gains.
Crypto Dynamics Roundup
Financial blog Zerohedge posted on the X platform: “AI has become the new global arms race, with governments ultimately footing the capital expenditure bill.
If you’re wondering why gold, silver, and Bitcoin prices are soaring, it’s because governments are printing massive amounts of money to support this AI race, leading to currency devaluation. Has anyone calculated how many nuclear power plants the U.S. needs to build by 2028 to power all these AI-driven ‘hype’ transactions?”
In response, Elon Musk commented: “This is why Bitcoin is energy-based: you can issue fake fiat money—every government in history has done it—but you can’t fake energy.”
According to CoinDesk, Citigroup CEO Jane Fraser stated that tokenized deposits, not stablecoins, will be the primary driver of next-generation payment and financial market infrastructure.
During the Q3 earnings call, she noted that institutional clients seek low-cost, compliant, and seamless real-time cross-border capital flows, and tokenized deposits are the best way to achieve secure, multi-bank interoperable, and always-on payment solutions.
Per The Block, a new U.S. House bill will implement President Trump’s executive order directing the Labor Department to pave the way for including cryptocurrencies and private equity in 401(k) retirement plans.
Sources say Montana Republican Rep. Troy Downing will introduce the bill on Tuesday, titled the “Retirement Investment Choice Act.”
The source stated: “The bill focuses on codifying the executive order and giving it long-term effect. Promoting financial democratization and enabling more people to access these alternative investments is the core driver.”
The bill has four Republican co-sponsors: Reps. Byron Donalds, Buddy Carter, Warren Davidson, and Barry Moore. Sources note there is no corresponding Senate bill yet.
According to Bloomberg, Japanese listed company Metaplanet Inc.’s enterprise value has fallen below the value of its Bitcoin reserves. Data shows its stock hit a record high in mid-June but has since plunged ~70%, causing the ratio of its market value plus debt to its token holdings (mNAV) to drop to 0.99 on Tuesday.
Japanese stock analyst Mark Chadwick said: “I still see this drop in digital asset reserve stocks as a bubble bursting; the crash suggests the widespread frenzy around Bitcoin hoarding has cooled. However, long-term Bitcoin bulls may view Metaplanet’s discount as a buying opportunity.” Metaplanet’s website shows it holds over 30,000 Bitcoin, worth ~$3.4 billion.