Strategy, Coinbase and Other Crypto Stocks Rise. What's Driving the Moves. — Barrons.com

Key takeaways:

• Bitcoin traded above short-term holder cost basis at $114,000, signaling recovering demand and potential for further gains.

• Analysts believe Bitcoin could continue its uptrend, with targets between above $150,000.

Bitcoin price reclaimed the $115,000 level on Monday, recouping some of the losses from Friday’s historic sell-off, which resulted in over $20 billion in centralized exchange liquidations.

The 10%-15% price drop left a mark on BTC’s technicals, but traders say that Bitcoin’s macro outlook remains bullish with $150,000 still in the cards.

Bitcoin recovers above key trendline

The pair is trading 8% above the $107,500 low reached on Friday, according to Cointelegraph Markets Pro and TradingView. 

This recovery has seen BTC rise back above its short-term (STH) cost basis, suggesting possible higher gains.

STH cost basis, or realized price, represents the average acquisition price of BTC for investors who have held Bitcoin for less than 155 days.

“BTC back above the STH cost basis of $114K,” said Frank Fetter, a quant analyst at investment firm Vibes Capital Management, adding:

The crypto market enters a packed week as Ethereum prepares for network upgrades, token events draw attention, and global economic developments continue to impact digital assets. Bitcoin currently trades around $115,261, while Ethereum holds near $4,173, showing some recovery after recent market volatility.

Ethereum Fusaka Upgrade on Testnet

Ethereum developers are rolling out the Fusaka hard fork on the Sepolia testnet on October 14. This upgrade aims to enhance network efficiency and transaction speed, laying the groundwork for future mainnet improvements. Traders and developers are closely monitoring the test results, as a successful rollout could strengthen confidence in Ethereum’s long-term roadmap.

U.S. Government Shutdown Weighs on Market

Investor caution remains high as the U.S. government shutdown delays crucial economic data, including inflation and producer price index (PPI) reports. Pending crypto ETF approvals are also on hold, adding uncertainty for short-term price movements. This backdrop makes it a critical week for assessing market direction.

Governance Votes and Token Unlocks

Several DAOs are conducting key governance votes. Superfluid DAO and ENS DAO are deciding on upgrades to improve usability and yield. Sandbox DAO and GnosisDAO focus on operational improvements, while Arbitrum DAO addresses quorum rules. Token unlocks are also scheduled: STRK, SEI, ARB, and FTN release significant portions of their circulating supply between October 15-18, potentially affecting prices in the short term.

New Projects Launching

New initiatives are coming online this week. SANDchain, a zk-powered Ethereum layer-2, launches on October 14, while ZBCN will be listed on Kraken on October 15. The Aster airdrop claiming period ends on October 17, attracting attention from traders and community members.

Major Events Across the Globe

The crypto calendar is packed with conferences and summits. The Digital Asset Summit in London starts on October 13, followed by DC Fintech Week and the Future of Finance Tokenisation Event. Other notable events include the European Blockchain Convention in Barcelona, the Bitcoin 2140 Forum in Dubai, and ETHShanghai in China from October 18-22.

Key Event Highlights:

• Oct 13: Superfluid DAO and ENS DAO votes; Digital Asset Summit London begins.
• Oct 14: Ethereum Fusaka testnet upgrade; SANDchain launch; dYdX Analyst Call; DC Fintech Week starts.
• Oct 15: BNB Chain Wallet ends; STRK and SEI token unlocks; Sandbox DAO vote; key economic data (Brazil, U.S., Colombia).
• Oct 16: Lido Poolside Call; OpenxAI launch; ARB unlock; U.S. retail and PPI data; RegTech Summit; European Blockchain Convention starts.
• Oct 17: SynFutures AMA; Eurozone inflation data; ASTER airdrop ends; Chain Culture 2025 begins.
• Oct 18-22: ETHShanghai; BTC Balkans.

This week promises a blend of technological upgrades, governance decisions, token events, and global economic influences, making it a critical period for crypto investors and traders.

Crypto exchange WazirX has finally secured approval from the Singapore High Court for its restructuring plan, paving the way for user repayments following the $234 million hacking incident last year. 

The court’s decision comes weeks after creditors backed a revised proposal. The approval allows WazirX to start the next phase of its recovery process, including token-based fund distributions and reviving the exchange’s operations.

“Thank you to everyone who supported this difficult phase of WazirX. The Singapore High Court has approved the scheme,” WazirX founder Nischal Shetty said in a post on X. “It’s your support and love that has made this possible.”

The court’s approval marks a major milestone for the India-based exchange, which already spent over a year navigating the legal hurdles required to return funds to over 150,000 affected users. 

Bitcoin has come a long way from being dismissed as a tool for money launderers and thieves. Even Larry Fink, CEO of BlackRock, the world’s largest asset manager with $12 trillion under management, has changed his view. 

Despite the recent crypto market crash, Larry Fink called cryptocurrency (Bitcoin) a legitimate alternative asset, similar to gold, useful for diversifying investment portfolios.

Fink Admits Past Mistakes

In a recent CBS 60 Minutes interview, Fink said that Bitcoin and other cryptocurrencies have grown and are now seen as real alternative investments.

He admitted, “I did say Bitcoin was for money launderers and thieves. But the market teaches you to always rethink your assumptions.”

This shows a big change in his view, moving from doubt to cautious acceptance, as crypto becomes more important in global finance.

Bitcoin as an Alternative Asset Similar To Gold

Today, Larry Fink sees Bitcoin as an alternative investment similar to Gold, suggesting that crypto could serve as a portfolio diversification tool and an inflation hedge.

While gold has a $15 trillion market, Bitcoin is emerging as a smaller but complementary asset. Meanwhile, for those looking to diversify, this is not a bad asset.

However, Fink warned not to put too much into crypto. He advised keeping it as a small part of any investment portfolio.

Institutional Adoption Accelerates Bitcoin Growth

This change in stance comes as BlackRock successfully launched its Bitcoin ETF, signaling strong institutional interest. BlackRock’s IBIT ETF is now ranked in the top 20 for U.S. ETF assets under management, breaking the $90 billion mark.

Other major financial institutions, including JPMorgan and Goldman Sachs, have also entered the crypto space, offering services to clients seeking digital asset exposure.

Following Fink’s interview, Bitcoin’s price has already jumped roughly 4%, reaching $115,300, recovering strongly from the recent market crash. 

The crypto market is up today following the weekend’s correction, with the cryptocurrency market capitalization rising by 4.4%, going back to $4 trillion. 97 of the top 100 coins have appreciated over the past 24 hours. At the same time, the total crypto trading volume is at $270 billion. TLDR:

At the time of writing, all top 10 coins per market capitalization have seen their prices increase over the past 24 hours.

Bitcoin (BTC) appreciated 2.9%, currently trading at $115,097. It’s the second-lowest rise of the category.Bitcoin (BTC)24h7d30d1yAll time

Ethereum (ETH) is up by 8.7%, now changing hands at $4,152. This is the third-highest increase in the category.

The highest one is Binance Coin (BNB)’s 14.9% to $1,318. It’s followed by 10% by Dogecoin (DOGE), now trading at $0.2087.

The lowest increase is Tron (TRX)’s 2.2% to $0.3227.

When it comes to the top 100 coins, 97 have seen an increase, the highest of which is 51.1% by , followed by Bittensor (TAO)’s 32.1% to $402. A dozen more coins have recorded price increases.

On the other hand, MemeCore (M) fell the most: 7.7% to $2.05.‘Now That the Dust Has Settled, Many Blue-Chip Tokens Have Seen a Strong Rebound’

Nick Forster, Founder at onchain options platform Derive.xyz, commented that we saw “an unprecedented market meltdown” on Friday, as well as $19 billion in liquidations across the industry.

“The crash was triggered by renewed fears of a U.S.-China trade war, after Donald Trump threatened an additional 100% tariff on Chinese imports,” Forster says. “This came on the heels of China announcing new restrictions on rare earth element exports, escalating tensions between the two economies.”

Moreover, “with order books thinned out, forced liquidations and panic selling had an outsized impact on price, fueling a self-reinforcing cascade of liquidations and accelerating the flash crash.”

Nic Puckrin, crypto analyst and co-founder of The Coin Bureau, said that “the bloodbath we saw in markets over the weekend is a brutal reminder that, as the crypto market grows and matures, the risks are amplified.”

“The arrival of spot crypto ETFs and institutional interest has lulled investors into a false sense of security, but it remains the only market that trades after hours. In this environment, thin liquidity, overleverage, and the involvement of big players make for a toxic cocktail.”

Ironically, Puckrin says, “now that the dust has settled, many blue-chip tokens have seen a strong rebound – including Ethereum, which is looking particularly strong back above $4,000. As such, many spot investors find themselves in a similar position to where they were before the flash crash. This is certainly an argument against excessive leverage in a market with fluctuating liquidity in such an uncertain geopolitical climate.”

“The good news is that this has cleaned out the excessive leverage and reset the risk in the market, for now. However, Bitcoin now faces another uphill battle to break past key resistance levels that will allow it to reach a meaningful new all-time high this year,” he concluded.Levels & Events to Watch Next

At the time of writing on Monday morning, BTC trades at $115,097. On 10 October, the coin dropped from $121,561 to $109,883 on 12 October. Since then, it has recovered to the current price.

Over the past 24 hours, the coin moved between the low of $111,247 and the high of $115,792. Over the past week, its intraday low was $109,883, and the intraday high was $126,080.

If BTC moves above $117,000, a short-term rally toward $124,000 could follow, and then toward $126,000 to retest previous highs. However, a drop below $108,000 may lead to $103,000 and below $100,000 towards $98,200.Bitcoin Price Chart. Source: TradingView

Ethereum is currently trading at $4,152. The price fell from $4,350 on Friday to $3,683 the following day.

In the past day, ETH moved between $3,802 and $4,196, as well as between $3,686 and $4,747 in a week.

A breakout above $4,055 could open doors for a move toward $4,200 and $4,330. However, a drop below $3,720 may lead to the $3,512 zone.Ethereum (ETH)24h7d30d1yAll time

Meanwhile, the crypto market sentiment had dropped over the weekend before rising slightly today. The crypto fear and greed index fell into the fear zone over the weekend, hitting 31, before rising to , on the verge of the neutral zone.

Investors are growing increasingly cautious, waiting to see where the market will go next.Source: CoinMarketCapETFs Turn Red

The US BTC spot exchange-traded funds (ETFs) saw in outflows on Friday, following significant inflows and breaking the green streak.

Of the 12 ETFs, one saw inflows, and five saw outflows. BlackRock took in $74.21 million, while Bitwise let go of $37.45 million.Source: SoSoValue

Moreover, the US ETH ETFs recorded in outflows on 10 October.

Five of the nine finds saw negative flows, and none saw positive flows. BlackRock let go of the highest amount: $80.19 million. It’s followed by Grayscale’s $30.57 million.Source: SoSoValue

Meanwhile, major Bitcoin mining company MARA Holdings has purchased an additional 400 BTC on Monday, worth $46.31 million. The company holds a total of 53,250 BTC, worth $6.12 billion.

MARA Holdings, which holds 52,850 ($6.12B), bought another 400 ($46.31M) through 2 hours ago. — Lookonchain (@lookonchain) Quick FAQ

• Why did crypto move against stocks today?

The crypto market has increased over the past day, and the stock market pulled further back on Friday after the latest all-time highs. By the closing time on 10 October, the S&P 500 was down by 2.71%, the Nasdaq-100 decreased by 3.49%, and the Dow Jones Industrial Average fell by 1.9%. The markets fell on Friday as the US-China trade tensions resumed.

• Is this rally sustainable?

The market has been recovering following the plunge it had seen on Friday. Investors are likely to await further economic and geopolitical signals that could point the direction the market will take short term.You may also like:(LIVE) Crypto News Today: Latest Updates for October 13, 2025Crypto markets staged a sharp rebound after easing U.S.-China tensions and renewed investor optimism. Major sectors posted 24-hour gains between 6% and 20%, led by Layer2 tokens up 19.4%. Mantle (MNT) jumped 38%, while Celestia (TIA) and Zora (ZORA) rose over 15% and 25%, respectively. Bitcoin climbed 4.85% to surpass $115,000, and Ethereum rallied 11.6% above $4,100. AI, CeFi, and DeFi sectors also saw double-digit gains. The rebound follows what analysts called a “historic crash” triggered...

Global crypto investment products managed by asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares generated net inflows of $3.17 billion last week, according to CoinShares' data.

As a result, year-to-date inflows have now surpassed last year's record tally, totaling $48.7 billion so far in 2025 — notwithstanding the chaotic end to last week, when cascading liquidations wiped billions of dollars in value from the crypto sector.

"Despite the significant price correction caused by the China tariff threats by the U.S., Friday saw little reaction with a paltry $159 million outflows," CoinShares Head of Research James Butterfill wrote in a Monday report.

Weekly crypto asset flows. Images: CoinShares.

Weekly trading volumes in digital asset exchange-traded products also surged to a record $53 billion — more than double the 2025 weekly average — while Friday alone saw an all-time-high $15.3 billion in daily turnover, Butterfill noted. However, following President Trump's tariff announcement, total assets under management slipped 7% from last week's peak to $242 billion, though his comments were later walked back to some extent.

At least $20 billion of positions were wiped out on Friday as some cryptocurrencies briefly fell literally to zero — the largest crypto liquidation event in history in U.S. dollar terms. However, as liquidation data is imperfect — with Bybit publishing in full, but Binance and OKX still underreporting in incomplete bursts, for example — the true figure is likely far higher.

Nevertheless, major cryptocurrencies were more resilient, with BTC and ETH falling 6.8% and 8.3%, respectively, over the past week, according to The Block's price page.

Bitcoin and US lead the flows

U.S.-based digital asset investment products continued their dominance, accounting for $3.01 billion of net inflows alone. Crypto funds in Switzerland and Germany also continued to fare well, adding another $132 million and $53.5 million last week. However, products in Sweden, Brazil, and Hong Kong all witnessed outflows.

Bitcoin-based funds again led the weekly inflows by asset, adding $2.67 billion and bringing year-to-date inflows to a record $30.2 billion. "Volumes on Friday's price correction were the highest on record at $10.4 billion for the day, while flows on Friday were only $0.39 million," Butterfill noted.

The U.S. spot Bitcoin exchange-traded funds saw $2.71 billion in net inflows alone, according to data compiled by The Block, offset by outflows from other regions. They witnessed just $4.5 million in net outflows on Friday, potentially benefitting from the tradfi market close, though it remains to be seen if outflows will escalate following the weekend.

Ethereum products also added $338.3 million last week, pushing year-to-date inflows to a record of nearly $14 billion. However, they witnessed outflows of $172 million on Friday — the largest of any digital asset — suggesting investors saw it as being the most vulnerable in this correction, Butterfill said.

The U.S. spot Ethereum ETFs brought in $488.2 million overall last week, but lost $174.9 million on Friday.

Meanwhile, despite growing hype around the upcoming U.S. SOL and XRP ETF launches, inflows for existing ETPs linked to those assets cooled to $93.3 million and $61.6 million, respectively.

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