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Oct. 10 Historic Crypto Crash: Galaxy Analyst Explains Why Bull Run Is Far From Over

Despite the October 10 sell-off, Galaxy Digital’s Alex Thorn asserts that the structural bull market in crypto remains intact. He identifies three substantial tailwinds for a forthcoming rally: AI capital expenditure driven by major firms, the increasing role of stablecoins as payment rails, and the ongoing tokenization of real-world assets which enhances demand for blockchain infrastructure. The market saw significant liquidations after Bitcoin reached an all-time high, followed by broader risk aversion linked to macroeconomic concerns. Thorn emphasizes caution in the near term due to market fragility and reduced liquidity but maintains a positive outlook for major assets such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) in the medium term, as these factors are expected to support market recovery and growth after digesting recent volatility.

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XRP, Solana See Bullish Reset in Sentiment as Bitcoin and Ether Lag

XRP and Solana have shown renewed bullish sentiment as their options indicate positive risk reversals, contrasting with Bitcoin and Ethereum, which remain in a bearish state. The 25-delta risk reversal, a sentiment gauge that assesses market expectations by comparing the implied volatilities of call and put options, has turned positive

Japan’s FSA May Let Banks Hold Bitcoin and Other Cryptocurrencies

Japan’s Financial Services Agency (FSA) is considering regulatory reforms that could permit banks to hold cryptocurrencies like Bitcoin and operate licensed crypto exchanges. This change would represent a significant shift from the current guidelines, which restrict banks from holding digital assets due to their volatility risks. According to reports,

BitMine accumulates $1.5B in Ether since crash despite Lee’s treasury bubble fears

BitMine has amassed $1.5 billion worth of Ether following a recent market crash, continuing its bullish stance despite warnings from Fundstrat’s Tom Lee, who suggested that the digital asset treasury (DAT) bubble may be deflating. The purchases were made in three transactions totaling 379,271 ETH, occurring after

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