On-chain data shows Bitcoin is currently retesting a historically significant level that has often decided the course of the cryptocurrency&#8217;s price. Bitcoin Is Retesting The 0.85 Supply Quantile In a new post on X, on-chain analytics firm Glassnode has talked about how Bitcoin is retesting a level that has historically been a &#8220;make-or-break&#8221; one for the asset. Related Reading: Dogecoin Plunges To $0.18 As Whales Sell 440 Million DOGE The level in question is part of Glassnode&#8217;s &#8220;Supply Quantiles Cost Basis Model.&#8221; The model reflects price levels corresponding to important investor profitability thresholds. Below is the chart shared by the analytics firm that shows how the levels of this model have changed over the last few years. Looks like BTC is currently trading around the middle band | Source: Glassnode on X As is visible in the graph, Bitcoin surged above the 0.95 quantile during the recent rally to the all-time high (ATH). This level corresponds to 95% of the supply being in profit. With the market downturn that has followed since, however, the cryptocurrency has slipped under the level. Recently, the asset has been making retests of the 0.85 quantile, situated at $109,000. BTC has already seen brief drops below this mark, but so far, it has managed to climb back above it each time. At present, the coin is trading right around the level, indicating that about 85% of the supply is carrying a net unrealized gain. In the past, Bitcoin&#8217;s interactions with this level have tended to carry consequences for its trajectory. &#8220;Holding it has sparked major rallies, but losing it often sees a slide toward the 0.75 band,&#8221; noted Glassnode. The 0.75 quantile is equivalent to $98,000 at the moment. It now remains to be seen whether BTC can hold above the 0.85 quantile, or if a retrace to this level is coming. In some other news, the latest decline in Bitcoin below $107,000 came alongside negative values on the Coinbase Premium Gap, as pointed out by CryptoQuant community analyst Maartunn in an X post. The Coinbase Premium Gap measures the difference between the Bitcoin price listed on Coinbase (USD pair) and that on Binance (USDT pair). The metric basically tells us about how the behavior of the users on the former exchange differ from that of the latter platform. Related Reading: Bitcoin Struggles To Hold Key Support: Could $88,000 Be Next? As the below chart shows, the metric was at positive levels on Wednesday, but the indicator turned red on Thursday. The trend would imply that Coinbase traders, primarily made up of American institutional entities, sold the cryptocurrency at a higher intensity than Binance&#8217;s global whales during the Bitcoin drawdown. BTC Price Since the wave of selling on Coinbase, Bitcoin has witnessed some recovery back to the $109,500 level, reclaiming the 0.85 quantile once again. Featured image from Dall-E, CryptoQuant.com, Glassnode.com, chart from TradingView.com

Bitcoin At Key Retest: Bounce Or $98,000 Next?

As October comes to a close, Bitcoin (BTC) has disappointed many who had 
anticipated the month to be a strong one for the cryptocurrency, often 
referred to as “Uptober” due to its historically positive performance. 
Instead, Bitcoin finished the month down, creating a gap of approximately 13% 
from its all-time high. Historical Trends Suggest Bitcoin Could Rebound Joel 
Kruger, a market strategist at LMAX Group, noted that while October was a 
letdown compared to historical trends, it’s essential to contextualize the 
price movements. He remarked, “Prices have held up well overall, especially 
after a September that actually bucked the usual weakness.” Related Reading: 
Coinbase, Strategy Mark Major Profit Surges In Q3: Unveiling The Numbers 
Notably, on the 6th of this month, the market’s leading cryptocurrency reached 
an all-time high just beyond $126,000. Additionally, the current downturn has 
failed to erase the year-to-date gains, with Bitcoin still recording a 55% 
uptrend during this period. However, according to a recent analysis by 
Fortune, this October marks the fourth-worst performance for Bitcoin since 
2013 and the worst in the past seven years. Bitcoin’s performance lagged 
behind that of the S&amp;P 500, which saw a gain of roughly 2.3% during the same 
period. Despite this under performance, Kruger remains optimistic about 
Bitcoin&#8217;s potential recovery in the upcoming months. “Historically, Q4 has 
been one of the best periods for crypto performance,” he stated, expressing 
hope for a push toward record highs for both Bitcoin and Ethereum (ETH) as the 
year draws to a close. October Challenges The month proved challenging not 
only in terms of price but also due to significant market events. Adam 
McCarthy, a senior research analyst at digital market data provider Kaiko, 
observed that cryptocurrencies entered October tracking gold and stocks at 
near all-time highs. However, as uncertainty crept into the market, investors 
did not flow back into Bitcoin as anticipated. In addition, October witnessed 
the largest liquidation event in cryptocurrency history, triggered by 
President Donald Trump’s announcement of a 100% tariff on Chinese imports, 
alongside threats of export controls on crucial software. Related Reading: 
dYdX Eyes US Market Entry: Decentralized Crypto Exchange Plans Year-End Debut, 
Reuters McCarthy commented on the impact of this liquidation, stating, “That 
washout on the 10th really reminded people that this asset class is very 
narrow.” He emphasized that even dominant cryptocurrencies like Bitcoin and 
Ethereum can experience sharp drawdowns, citing instances of 10% declines 
occurring in just 15 to 20 minutes. Amid these developments, concerns have 
been raised by several figures regarding the high valuations in equity 
markets. Jamie Dimon, CEO of JPMorgan Chase, recently warned of a heightened 
risk of a significant correction in the US stock market within the next six 
months to two years. Jake Ostrovskis, head of trading at Wintermute&#8217;s over- 
the-counter desk, noted that participants in the market remain hesitant as 
they grapple with the implications of the largest liquidation event on record. 
He added that this caution persists amid ongoing speculation about 
vulnerabilities that might still exist within the financial system. When 
writing, BTC was trading at $109,688, losing its nearest support floor of 
$110,000. Featured image from DALL-E, chart from TradingView.com

Bitcoin October Slump: Fourth Worst On Record Since 2013, Per Fortune Analysis

Global momentum against crypto crime is accelerating as Tether, TRON, and TRM 
Labs drive a powerful enforcement alliance that has frozen over $300 million 
in illicit assets, redefining blockchain’s role in global financial integrity 
and security. Global Crackdown on Crypto Crime Advances as $300M in Assets 
Frozen Global cooperation against crypto-related financial crime is 
accelerating […]

$300M Frozen as Crypto Crime Unit Boosts Global Financial Crime Prevention

Crypto analyst @BullrunnersHQ on X social media has issued a new market 
update, suggesting that XRP may be on the verge of a major rally as 
traditional markets reach record highs. His latest technical breakdown links 
the recent strength in the NASDAQ to potential moves within the crypto sector, 
warning that the “unthinkable” is about to occur for XRP soon. The analyst 
highlighted that XRP’s price structure and broader crypto signals are aligning 
for a decisive move that could determine whether the current bull market cycle 
continues or starts to reverse. XRP Set For Unthinkable Upside Rally According 
to @BullrunnersHQ, the equity market is approaching critical levels that could 
dictate the next major trend in the crypto market and XRP price. Despite the 
crypto market struggling to reach similar highs, XRP remains firmly above the 
$2.50 range. He described this setup as “the unthinkable” moment for XRP, 
where the asset could finally break free from its prolonged consolidation and 
rally by “multiple hundreds of percent.” Related Reading: Forget Cardano, Why 
Shiba Inu’s Shibarium Is The Real Ghost Chain Notably, @BullrunnersHQ asserts 
that XRP’s price structure remains technically healthy despite market 
volatility. The analyst also noted that the overall crypto market cap and 
sentiment indicators have improved, with the Fear &amp; Greed Index climbing to 42 
from mid-October lows. He further emphasized that Bitcoin continues to hold 
comfortably above its 50-week EMA, showing a pattern consistent with previous 
rallies that led to new peaks. The analyst added that BTC’s new local high 
around $116,000 and a bullish crossover between the 10 EMA and 20 EMA suggest 
that momentum is returning to risk assets, setting the stage for XRP to 
outperform potentially. Notably, this period mirrors earlier market cycles 
where Bitcoin’s consolidation above key levels triggered explosive altcoin 
rallies. XRP, which has held its support much longer than most 
cryptocurrencies in the market, could climb to a new all-time high once 
momentum shifts. To support his analysis, @BullrunnersHQ has referenced crypto 
market expert and Chartist Peter Brandt’s discussion about whether the 
NASDAQ’s recent price action represents a breakaway or an exhaustion gap. 
While Brandt leans cautiously bearish from an equities standpoint, 
@BullerunnersHQ remains confident that even if stocks slightly pull back or 
halt temporarily, money could still rotate into cryptocurrencies, potentially 
fueling XRP’s next major rally. Analyst Warns Of Exhaustion Gap And End Of 
Bull Market In his analysis, @BullrunnersHQ also referenced crypto trader 
Abdullah, who believes that the NASDAQ’s rally also shows signs of an 
exhaustion gap, a signal often seen near the end of a bull market uptrend. 
Absullah points to overbought readings in both the Relative Strength Index 
(RSI) and the Stochastic RSI on the weekly timeframe, indicating that the 
markets could be nearing the end of their current bull market phase. Related 
Reading: What The XRP RSI Making Higher Highs Means For The Price 
@BullrunnersHQ agreed that the market may be nearing exhaustion but reiterated 
that XRP’s position offers more upside potential compared to other assets. He 
also emphasized that Bitcoin must continue to hold between $107,000 and 
$109,000 on the weekly timeframe. A failure to do so could signal the end of 
the broader bull market. Featured image created with Dall.E, chart from 
Tradingview.com

Analyst Predicts The ‘Unthinkable’ For XRP – Here’s What It Is

Ripple is accelerating a global shift in humanitarian finance as its RLUSD 
stablecoin sees explosive growth and adoption by top aid organizations 
leveraging blockchain to deliver faster, cheaper, and more transparent 
disaster relief across underserved regions. Ripple Hits Hard With RLUSD Surge 
as Aid Giants Tap Blockchain for Relief Ripple’s increasing influence in 
blockchain-based philanthropy […]

Cryptocurrency price in INR