Hong Kong rules limit stablecoin derivative trading: DBS CEO

XRP price has dropped more than 5%, slipping below $2.75 and hitting its lowest level in a month. This sudden fall has made many traders fear a bigger crash, with some even warning of a full “capitulation.” But according to popular analyst CrediBULL Crypto, the panic may be unnecessary. 

He believes that while the short-term chart looks weak, the larger trend still points towards a bullish surge.

Ripple XRP Price Crash Ahead

According to CrediBULL Crypto, the chart causing panic is being misunderstood when looked at alone. Zooming out to a higher timeframe (HTF), the current price is part of a larger bullish pattern, shown in an orange circle on the chart. This shows that despite short-term ups and downs, XRP’s overall trend remains positive.

The analyst noted that XRP could dip below $2.65, its triple-low level, if Bitcoin falls under $105,000. This could push XRP toward the $2–$2.40 zone, a drop of about 10-15% from current prices.

Key takeaways:

• Ether’s “rare oversold” RSI, historically tied to major ETH price rallies, suggests a potential price reversal in the short-term.

• ETH traders say price must stay above the $3,800-$3,900 range to avoid more losses.

Ether traders expect a short-term bounce as a key ETH price metric sinks to its lowest levels in several months.

Data from Cointelegraph Markets Pro and TradingView reveal extremely “oversold” conditions on the relative strength index (RSI).

ETH price dip sends RSI back to April

Ether's 20% drop below $4,000 from $4,800 over the last two weeks has significantly impacted low-timeframe RSI.

On the four-hour chart, the RSI fell from local highs of 82 on Sept. 13 to six-month lows of 14.5 on Thursday.

Such a sharp decline is rare, taking from “overbought” to “oversold” in less than two weeks. The last time that the index measured so low was on April 7, when traded at $1,400.

By Elsa Ohlen

Bitcoin and other cryptocurrencies extended their losses Friday, at the end of a week that has seen the biggest deleveraging of the year. It comes ahead of inflation data, expected to be key for the path of interest rates.

Bitcoin was down 2.3% over the past 24 hours to $109.190, bringing seven-day losses to 5.6%, according to CoinDesk data.

The world's second largest crypto by market value, Ether, and Ripple's XRP both fell 3.2% each.

Solana has seen the most pronounced losses lately as the crypto sector is experiencing a slump. The token was down 4.7% to $192.90 early Friday, extending losses over the past seven days to 19%.

The moves come ahead of the August personal consumption expenditure price index data (PCE), scheduled for 8:30 a.m. Friday. The Federal Reserve lowered interest rates by 25 basis points last week, however, officials say they'd like to see more progress on inflation before committing to more cuts this year, Barron's has reported.

If PCE data comes in hotter-than-expected, it might push the central bank to pause cuts for now, which would likely have a negative effect on riskier assets like cryptos.

While the inflation numbers could deepen the crypto slump, they could also end up helping tokens regain some losses, particularly if inflation is cooler than expected, increasing rate-cut odds. Higher interest rates tend to dampen traders' appetite for risk-assets, and vice versa.

The deleveraging event that started earlier this week came as digital-asset investors unwound bullish bets made after the Fed's latest interest rate cut.

Write to Elsa Ohlen at elsa.ohlen@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

Ethereum has fallen below the $4,000 level for the first time since early August, marking a significant shift in market sentiment. After weeks of strong performance, ETH has now lost nearly 20% of its value since September 13, leaving many traders concerned about the next move. The broader market correction has fueled uncertainty, but some analysts argue this is a necessary reset that could prepare the ground for renewed growth.

Top analyst Darkfost highlights that Ethereum’s Open Interest is experiencing one of its biggest resets. He notes that after an extended period of bullish momentum, excess leverage has been punished, leading to a sharp contraction in positions. This decline is especially visible on Binance, where much of the recent ETH trading activity has taken place.

While the drop in price and sentiment appears negative, analysts see potential positives in this reset. Lower Open Interest often reduces the risk of cascading liquidations and allows the market to stabilize. For Ethereum, this moment may serve as a critical test of its ability to hold strong levels of support and set the stage for its next move once bullish momentum returns.

Ethereum’s Open Interest Reset Marks a Turning Point

Darkfost explains that the recent shift in Ethereum’s Open Interest is not only significant but also one of the sharpest resets observed since the start of 2024. Historically, such resets follow periods where excessive leverage pushes Open Interest to unsustainable levels, as was the case for ETH in recent weeks. The cryptocurrency had been attracting a large share of market attention, fueled by ETF enthusiasm and strong accumulation patterns, which left it vulnerable to sharp liquidations.

Once liquidations accumulate and Open Interest falls, the immediate selling pressure often begins to ease. This tends to create conditions where the market can stabilize and, in some cases, prepare for recovery. The dynamic can be seen as a “cleansing” effect, flushing out overextended traders and restoring balance to the market structure.

In detail, Binance recorded the steepest monthly average decline, with more than $3 billion in Open Interest wiped out on September 23rd, followed by another $1 billion yesterday. Bybit also faced a reduction of $1.2 billion, while OKX dropped around $580 million. These figures underscore the scale of the reset across major derivatives platforms.

This contraction reflects a broader market reset, unwinding an environment that had become dangerously over-leveraged. For Ethereum, it may mark the beginning of a healthier phase, where reduced speculative pressure allows organic demand and fundamentals to play a stronger role in shaping the next trend.

Price Action Insights: Testing Critical Levels

Ethereum (ETH) is trading near $3,939, marking a sharp decline of over 5% in the latest session and extending its correction since the early September peak above $4,700. This drop has brought ETH below the key $4,000 psychological level for the first time since August, signaling rising selling pressure.

The chart shows ETH breaking down after forming a double top pattern around the $4,700–$4,800 range, a classic bearish signal that suggested exhaustion of upward momentum. The rejection from this zone has now pushed ETH closer to its 50-day moving average (blue), which previously acted as strong support during the rally. A decisive close below this line could open the door to a deeper retrace toward the 200-day moving average (red), now positioned near $3,100–$3,200.

Despite the current weakness, ETH remains in a broader uptrend when viewed from the July low near $2,200. That rebound established a strong bullish structure, and as long as ETH holds above the $3,500–$3,600 region, the long-term outlook remains constructive. For now, bulls must reclaim $4,200 to regain momentum, while failure to hold current levels may accelerate selling pressure and test deeper supports in the coming sessions.

Featured image from Dall-E, chart from TradingView

On September 25, 2025, nine European banks formed a consortium to develop a euro-backed stablecoin, set to launch in the second half of 2026. The consortium has created a new Netherlands-based company to issue the token. The central European banks forming the consortium include UniCredit (Italy), ING (Netherlands), DekaBank (Germany), Banca Sella (Italy), KBC Group (Belgium), Danske Bank (Denmark), SEB (Sweden), CaixaBank (Spain), and Raiffeisen Bank International (Austria).

The goal is to challenge dollar dominance in stablecoins. The current stablecoin market is almost entirely dominated by the US dollar via $USDT ($173B market cap) and $USDC ($74B). Thus, most global crypto and digital payments rely on USD rather than EUR.

Another possible reason could be Europe’s intention to attain strategic autonomy. Europe stepping in with its own stablecoin is seen as an effort to create an alternative to $USDT and $USDC, while also regaining control over digital payments and settlements.

As Europe takes a bold step towards launching its own stablecoin, investors’ interest in crypto projects and utility-driven tokens with real momentum is rising.

One standout is Best Wallet Token ($BEST), a token backing a mobile-first crypto wallet. It’s currently in presale, having raised over $16.1M to date.

Europe’s Big Push for Regulated Euro Stablecoins and Digital Sovereignty

With the EU’s MiCA regulation offering a clear framework for stablecoin issuance, Europe has a safer backdrop to launch euro-backed stablecoins. This context already makes for an optimistic outlook.

In light of the news, several European leaders and officials also voiced their positive opinions on a Euro stablecoin:

• Floris Lugt, ING’s digital assets lead, noted that stablecoins can speed up cross-border payments and cross-currency settlements.
• A recent ING press release covering Lugt’s statement went on to further explain how stablecoins can automate business transactions and improve supply chain payments.
• Similarly, ECB Governing Council member Joachim Nagel called the digital euro an essential milestone for EU financial sovereignty.
• Francois Villeroy de Galhau, Governor of the Bank of France, warned that if Europe falls behind the US stablecoin’s growth, the continent risks being dominated by private, dollar-backed stablecoins in the future.

The EU’s bold new move is welcomed by retail and institutional investors worldwide considering the potential growth of the stablecoin market, with analysts estimating stablecoins potentially handling $100T–$200T in annual payments by 2030. The growth of stablecoins may not only benefit banks but also boost demand for secure stablecoin wallets and related utility tokens, such as Best Wallet Token ($BEST), which is already undergoing a booming presale.

Its wallet app already powers onramping, secure storage, transfers, and swaps for stablecoins and other tokens across top blockchains.

Best Wallet Token ($BEST) – Utility Crypto with a Secure, Multi-Chain Wallet and DeFi Features

Best Wallet Token ($BEST) is the native token of Best Wallet, a top-notch multi-chain asset storage offering seamless access to crypto onramping, DeFi platforms, and integrated decentralized swaps.

Within this ecosystem, $BEST provides exclusive holder benefits, including:

• Governance rights,
• Reduced trading fees,
• Higher staking rewards in the upcoming staking aggregator,
• Access to vetted Stage Zero presales in the app’s launchpad.

Learn more about Best Wallet Token with our guide.

Then, we have Best Wallet, which is on a mission to capture 40% of the crypto wallet market by the end of 2026. As with any scaling crypto storage ecosystem, Best Wallet has built its own token to keep users engaged, fund growth, and build community ownership.

The Best Wallet ecosystem itself stands out as a highly promising platform thanks to its comprehensive roadmap.

It includes upcoming features such as the staking aggregator we mentioned, plus a crypto debit card, integrated market analytics, and derivatives trading. By the end of stage 4, this app will be an all-in-one crypto solution for retail traders.

American Bitcoin (ABTC), the mining firm tied to Eric Trump and backed by Hut 8, is drawing headlines again – this time for all the wrong reasons. 

CNBC’s Jim Cramer has put the stock under the spotlight, warning retail investors not to expect smooth sailing. What’s the reason for worry now? Let’s dive in. 

Cramer Calls ABTC Pure Speculation

On his Mad Money Lightning Round, Cramer was blunt. 

The comments came as ABTC shares slipped 4.29% on Thursday, closing at $6.69, in line with a broader pullback across crypto markets.

From Nasdaq Debut to Trump’s Mining Vision

American Bitcoin only began trading on Nasdaq in early September after its merger with Gryphon Digital Mining. The company is majority-owned by Hut 8, one of the largest corporate holders of Bitcoin, and is branding itself as the backbone of America’s Bitcoin mining infrastructure.

The political link is hard to miss. 

Eric Trump has been championing a strategy of mining Bitcoin below market cost and holding it in reserves, pitching ABTC as an alternative way to gain exposure to Bitcoin’s growth. This vision ties directly into Donald Trump’s broader push to make the U.S. a leader in crypto mining, which is a stark shift from when he once dismissed Bitcoin as a scam.

Green Mining in a Tough Market

Bitcoin mining has always been unforgiving. Energy bills alone can swallow 70–80% of costs, and difficulty levels keep rising every two weeks. Halving events only squeeze margins further.

ABTC’s merger with Gryphon could soften the blow. Gryphon is known for renewable energy strategies, using solar, wind, and hydro to cut costs. If successful, that could give American Bitcoin an edge in a sector where competition from Texas to Kazakhstan is fierce.

Sky-High Valuation, Mixed Returns

Despite its short trading history, the stock already carries a heavy premium. ABTC trades at a P/E ratio of 39.8x, higher than the U.S. software industry average of 35.4x and far above peers at 11x.

But the fundamentals aren’t keeping pace. Earnings growth has recently turned negative, and profit margins have slipped compared to last year. The stock’s performance has also been choppy, erasing earlier gains and leaving investors questioning whether the optimism is justified.

The Bigger Picture

Cramer’s warning may sound harsh, but it highlights the crossroads ABTC finds itself at. On one side, there’s the Trump-backed ambition to build America’s Bitcoin backbone with green mining and long-term reserves. On the other, there’s the brutal reality of mining economics, volatile markets, and a stock price that demands a lot from the future.

For now, American Bitcoin remains a high-risk, high-reward bet and one the market will be watching closely.