Fear and Greed Index crashed to 37, straight into fear territory. Wall Street’s dragging crypto down with it. The correlation between Bitcoin and Nasdaq hit 0.87, meaning when tech stocks tank, crypto tanks harder. Then there’s the liquidation massacre. $1.6 billion in leveraged positions got wiped out, turning a dip into a full-blown selloff. And just when you thought it couldn’t get worse, the U.S. and UK dropped sanctions on a $14.2 billion crypto scam network. So what else is happening while the market burns?
Elon’s Back on Bitcoin
Tesla’s CEO broke his multi-year Bitcoin silence with a tweet, Elon Musk jumped into a conversation about Bitcoin hitting record highs, defending its energy-based proof-of-work system. His take? Governments can print fake money all day long, but “it is impossible to fake energy.” The last time he seriously talked about Bitcoin was in 2022, right after FTX collapsed, when he predicted a “long winter.” So what changed his mind about Bitcoin now? Read More.
Bitcoin’s Key Support Getting Weaker
Bitcoin dropped to $112,500 on Tuesday, and this time analysts are actually worried. This support level represents where most recent buyers got in. It’s been tested four times in six weeks, and each time it gets weaker because fewer people are willing to defend it. What’s behind Bitcoin’s sudden drop and how low could it go? Read more.
BlackRock’s Building Its Own Tokenization Tech
BlackRock’s Building Its Own Tokenization Tech Larry Fink revealed BlackRock is building its own technology to tokenize traditional assets. The firm managing $13.46 trillion is already in talks with major financial platforms about integrating this tech. Fink’s vision? Tokenize everything ETFs, real estate, you name it, to cut out middlemen and reduce fees. How much revenue is BlackRock actually making from its crypto push? Read more.
Monad Opens Airdrop Portal
Monad’s MON token claim portal went live Tuesday. Over 230,000 wallets are eligible to claim tokens, from core community members to users of major DeFi protocols and NFT holders. The claim window stays open until November 3. Pre-market futures are pricing MON at around $0.07, which would value the project at $7 billion fully diluted. Why is Monad worth billions before launching mainnet? Read more.
BNB Chain Announced Airdrop
BNB Chain just announced a $45 million airdrop targeting memecoin traders who survived last week’s liquidation. The amounts are being distributed randomly, with the first batch dropping this week. Partners include PancakeSwap, Binance Wallet, and Trust Wallet. Who’s actually eligible for this airdrop? Read more.
Solana News: SOL Bounces After Crazy Market Crash
The crypto market suffered its biggest liquidation—$19B wiped in 24 hours. SOL dropped below $175 but bounced back to $198. CME launched SOL futures options! Jupiter + Ethena launching JupUSD stablecoin! Read more.
