Peter Schiff argues that tokenized gold can fulfill the roles of a medium of 
exchange, unit of account and store of value—functions he claims bitcoin fails 
to deliver. The Safe Haven Debate Reignites Amid Market Volatility Outspoken 
bitcoin critic and gold advocate Peter Schiff has reiterated his belief that 
gold—not cryptocurrency—is the only asset that […]

Schiff Doubles Down on Bitcoin Criticism, Pushes Tokenized Gold as Blockchain’s True Asset

The remaining “10%” of issues center mainly on DeFi, which Brian Armstrong 
says lawmakers are addressing carefully to preserve innovation.

Despite gov’t shutdown, crypto market structure bill ‘90% there’ — Coinbase CEO

Bitcoin is showing signs of renewed weakness as short-term investors begin to 
fold under selling pressure. According to the latest data from CryptoQuant, 
the Short-Term Holder Spent Output Profit Ratio (STH-SOPR) has fallen to 
0.992, its lowest level since late April. This key on-chain metric tracks the 
average profit or loss realized by Bitcoin holders who have owned their coins 
for less than 155 days — a group often associated with speculative or reactive 
behavior. Related Reading: Kadena Shuts Down Operations – Team Confirms 
Immediate Cease Of All Activities When the STH-SOPR dips below 1.0, it 
indicates that these holders are selling their coins at a loss, signaling a 
wave of capitulation and rising fear among newer market participants. The 
current value implies an average loss of 0.8%, reflecting a notable shift in 
sentiment after weeks of volatile price action. Historically, such phases of 
short-term capitulation often mark moments of emotional exhaustion, where 
retail traders give up amid uncertainty. While this can reinforce short-term 
bearish pressure, it also tends to precede market stabilization — as weaker 
hands exit and long-term investors absorb supply. Bitcoin STH-SOPR Signals 
Short-Term Weakness and Long-Term Opportunity According to CryptoOnchain’s 
latest insights shared on CryptoQuant, Bitcoin’s Short-Term Holder Spent 
Output Profit Ratio (STH-SOPR) remains below the crucial 1.0 threshold, 
reinforcing a bearish short-term outlook. As long as both the STH-SOPR and its 
14-day moving average stay under this key level, the indicator acts as a form 
of resistance — reflecting that short-term holders continue selling at a loss. 
In such conditions, every price rally risks being met with renewed selling 
pressure, as these investors look to exit positions at break-even or with 
minimal loss, creating a ceiling for upward momentum. However, this same 
behavior can also plant the seeds for a long-term bullish setup. Historically, 
extended periods of loss realization by short-term holders have coincided with 
the final stages of market corrections. This process — often described as a 
“cleansing” phase — shakes out weak hands and redistributes Bitcoin to long- 
term holders who are less sensitive to short-term volatility. When 
capitulation reaches its peak, it often signals the market is approaching 
“maximum pain”, a point that tends to precede strong recoveries. While 
Bitcoin’s current structure suggests ongoing weakness, this phase could also 
mark the foundation of the next uptrend. Traders should closely monitor the 
STH-SOPR for a decisive reclaim above 1.0, as that would confirm a shift from 
loss-driven selling to profit realization — signaling renewed market strength 
and the potential start of a new bullish phase. Related Reading: Bitcoin 
Trapped On Binance: The Battle Between $107K and $119K Heats Up Bears Defend 
Resistance, Bulls Struggle to Reclaim Momentum Bitcoin is currently trading 
around $109,400, showing a modest rebound but still facing strong resistance 
at higher levels. As seen in the 1-day chart, BTC remains trapped below both 
the 50-day and 100-day moving averages, which are now converging near 
$112,000–$114,000 — a zone that has repeatedly acted as supply during recent 
recoveries. The 200-day moving average, positioned around $106,000, continues 
to provide short-term support. However, the repeated retests of this level 
suggest weakening buyer strength. The inability to sustain a close above 
$110,000 highlights persistent selling pressure, with traders preferring to 
de-risk amid broader market uncertainty. Related Reading: Hyperliquid Futures 
Indicator Signals Whales Are Going Long – Details If Bitcoin manages to 
reclaim $112,000, momentum could shift toward $117,500, the key horizontal 
resistance and previous range high. A decisive breakout above this level would 
invalidate the recent bearish structure and open the path toward $123,000. On 
the downside, failure to hold the $106,000–$107,000 support range could expose 
BTC to further downside risk, with potential targets near $102,000 or even 
$98,000 if selling accelerates. Featured image from ChatGPT, chart from 
TradingView.com

Bitcoin STH-SOPR Falls Below 1.0 for the First Time Since April – What This Means

Spark is deploying $100 million into Superstate&#8217;s crypto carry fund to capture 
basis trade yields as returns from its traditional Treasury holdings begin to 
soften across the market. According to an announcement on Oct. 23, the DeFi 
lending protocol Spark…

Spark moves $100m to Superstate fund amid low T-Bill yields

On Oct. 23, BNB saw a nearly 6% price surge after U.S. President Donald Trump 
pardoned Binance founder Changpeng Zhao, raising its market capitalization 
over $157 billion. The Pardon and CZ’s Reaction BNB experienced a rapid price 
surge of nearly 6% on Oct. 23, immediately following the news that U.S. 
President Donald Trump had granted […]

Cryptocurrency price in VND