Philippines’ fastest growing digital bank rolls out crypto services

Mike McGlone, Bloomberg Intelligence's senior commodity strategist with over 25 years in futures trading, argues Bitcoin's year-end 2025 price below $84,000 could signal risk-off sentiment across stocks and commodities. 

He believes that the leading cryptocurrency is more likely to end 2025 below the aforementioned level than above $94,000.

Will Bitcoin lead the next recession? 

McGlone's bearish outlook on Bitcoin and broader risk assets emerges as a consistent thread across his commentary over the past month. 

It is rooted in a confluence of mean-reversion pressures and historical parallels to past downturns. 

So far, McGlone's anti-Bitcoin bet has been playing out nicely, with the flagship coin vastly underperforming gold. 

The Bloomberg analyst views Bitcoin as harbingers of post-inflation deflation. 

He repeatedly frames the crypto king as a high-beta leader poised to drag the S&P 500 and other speculative assets lower. 

The Federal Reserve's easing cycle has failed to stem its slide, which echoes the 2007 stock market peak. Back then, the initial rate cuts preceded a 50% plunge. 

As reported by U.Today, McGlone recently predicted that BTC could actually lead the next recession. 

Is $10,000 in the cards? 

He has recently predicted that Bitcoin could fall back to $10,000 under a severe “bear‑case” scenario. 

Such an extremely bearish scenario will be possible if macroeconomic stress and structural weakness in crypto continue. 

Of course, it should be noted that this is just the “worst- case” scenario. 

However, McGlone does see BTC plunging to $50,000 amid weakening sentiment as a realistic scenario.

Solana started a recovery wave above the $132 zone. SOL price is now consolidating and faces hurdles near the $138 zone.

• SOL price started a decent recovery wave above $130 and $132 against the US Dollar.
• The price is now trading below $138 and the 100-hourly simple moving average.
• There was a break above a key bearish trend line with resistance at $132 on the hourly chart of the SOL/USD pair (data source from Kraken).
• The price could continue to move up if it clears $138 and $140.

Solana Price Eyes Upside Break

Solana price remained stable and started a decent recovery wave from $128, like Bitcoin and Ethereum. SOL was able to climb above the $130 level.

There was a move above the 23.6% Fib retracement level of the downward move from the $147 swing high to the $128 low. Besides, there was a break above a key bearish trend line with resistance at $132 on the hourly chart of the SOL/USD pair.

Solana is now trading below $138 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $137 level, the 100-hourly simple moving average, and the 50% Fib retracement level of the downward move from the $147 swing high to the $128 low.

The next major resistance is near the $140 level. The main resistance could be $142. A successful close above the $142 resistance zone could set the pace for another steady increase. The next key resistance is $150. Any more gains might send the price toward the $155 level.

Another Decline In SOL?

If SOL fails to rise above the $140 resistance, it could continue to move down. Initial support on the downside is near the $132 zone. The first major support is near the $130 level.

A break below the $130 level might send the price toward the $128 support zone. If there is a close below the $128 support, the price could decline toward the $120 zone in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

Major Support Levels – $132 and $130.

Major Resistance Levels – $138 and $140.

Binance, a major crypto exchange platform, has received full authorization from Abu Dhabi’s Financial Services Regulatory Authority (FSRA), which enables the company to operate trading venues, clearing infrastructure, and broker-dealer activities in the emirate.

The authorization reflects the UAE’s growing leadership in digital finance and provides Binance with a trusted regulatory home to support global operations. It also reinforces Binance's expansion into jurisdictions with clear crypto frameworks as the exchange continues to facilitate trading and custody services globally.

Regulated activities are scheduled to commence in early 2026, providing users with enhanced protection under ADGM’s gold-standard framework.

Richard Teng, Binance's co-CEO who previously worked in financial regulation at Abu Dhabi Global Market, has emphasized the company's focus on regulatory compliance as it pursues strategic growth opportunities.

Coinbase has resumed onboarding users in India after more than two years, marking a return to a market where regulatory barriers previously forced the U.S. crypto exchange to scale back operations, according to TechCrunch.

TechCrunch reported Sunday that Coinbase has reopened its app to Indian users through an early-access program in October and has now made registrations fully available.

Coinbase APAC Director John O'Loghlen said at India Blockchain Week that for now, Indian customers can conduct only crypto-to-crypto trades. A full fiat on-ramp is planned for 2026, according to the report.

The Block has reached out to Coinbase for further information.

Coinbase disabled its support for the Unified Payments Interface in April 2022, just days after launching in the country. UPI is a real-time payment system developed by the National Payments Corporation of India to facilitate inter-bank transactions using a mobile phone. In September 2023, the exchange reportedly halted all services from local users.

Since then, the company has been working to rebuild its presence in India. It stepped up its engagement with local regulators this year, registering with the Financial Intelligence Unit to comply with anti-money laundering oversight. That registration paved the way for Coinbase's reopening.

In October, the company announced an investment in local crypto exchange CoinDCX as part of its broader expansion strategy across India and the Middle East.

India continues to see vibrant crypto activity. The country ranked first in global crypto adoption for the third consecutive year, ahead of the U.S., Pakistan, the Philippines and Brazil, according to an October report from TRM Labs.

Some other global exchanges have also made their way back into India. In September, Bybit said it restored full access to its app on both the App Store and Google Play for users in the country. Binance also re-entered India in August 2024 after paying a $2.25 million penalty.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. 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.

XRP price started a recovery wave above $2.050. The price is now showing positive signs but might struggle to clear the $2.10 resistance.

• XRP price started a recovery wave above the $2.050 zone.
• The price is now trading above $2.060 and the 100-hourly Simple Moving Average.
• There is a connecting bearish trend line forming with resistance at $2.090 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair could continue to move up if it settles above $2.160.

XRP Price Faces Uphill Task

XRP price remained supported above $2.00 and started a recovery wave, like Bitcoin and Ethereum. The price was able to climb above $2.020 and $2.050 to enter a positive zone.

There was a clear move above the 23.6% Fib retracement level of the downward move from the $2.2130 swing high to the $1.990 low. However, the price is now facing resistance near $2.10. There is also a connecting bearish trend line forming with resistance at $2.090 on the hourly chart of the XRP/USD pair.

The price is now trading above $2.060 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $2.10 level and the trend line. The first major resistance is near the $2.1250 level.

A close above $2.1250 could send the price to $2.160 and the 76.4% Fib retracement level of the downward move from the $2.2130 swing high to the $1.990 low. The next hurdle sits at $2.220. A clear move above the $2.220 resistance might send the price toward the $2.280 resistance. Any more gains might send the price toward the $2.350 resistance. The next major hurdle for the bulls might be near $2.450.

Another Decline?

If XRP fails to clear the $2.10 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2.050 level. The next major support is near the $2.00 level.

If there is a downside break and a close below the $2.00 level, the price might continue to decline toward $1.9650. The next major support sits near the $1.920 zone, below which the price could continue lower toward $1.850.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $2.020 and $2.00.

Major Resistance Levels – $2.10 and $2.160.

The Trump administration’s newly released 2025 National Security Strategy (NSS) failed to mention digital assets and blockchain tech. The focuses instead on AI, biotech, and quantum computing.

Released Friday, the NSS is a key policy document framed by the White House. The policy papers lay out how the President views global threats and opportunities.

The pro-crypto administration has so far taken significant steps for the industry, including establishing the President’s Working Group on Digital Asset Markets, signing the GENIUS Act for stablecoin regulation and dropping several enforcement actions against crypto firms.

However, skipping any mention of Bitcoin in global economic policy discussions suggests that digital assets remain outside core security planning.

“We want to ensure that U.S. technology and U.S. standards — particularly in AI, biotech, and quantum computing — drive the world forward,” the national security strategy statement read.

Besides, Trump, who campaigned on becoming the “crypto president”, established a strategic national Bitcoin reserve. However, he later said that the stash will be funded with seized Bitcoin and not fresh BTC purchases.Trump’s Commitment Over Crypto as National Strategic Issue

The President has previously made strong on-record commitments, framing digital assets as part of the US’ national strategic issue.

For instance, at the Bitcoin Conference in Nashville in 2024, Trump stressed that the future of crypto and the future of Bitcoin “will be made in the USA, not driven overseas.”

Further, in several policy rollouts, Trump positioned global competitors as potential beneficiaries if the US fails to adopt crypto-friendly policies.

The strategy has only mentioned “digital finance” in non-crypto terms, pointing to international economic systems and payment rails, failing to address decentralized networks.National Security Strategy Shakes BTC Price, Token Slid Below $88K Over Weekend

The impact of the White House’s latest document was reflected in the price of Bitcoin, plunging below $88,000 over the weekend.

However, the world’s largest crypto has risen 1.96% in the past 24 hours to $91,429, per CoinMarketCap data. A close above $91,600 could target $93K, while failure risks a pullback to $89.5K support. Bitcoin is trading at $91,143 at press time.