Doc’s Daily Dose of Delight 💡 Bitcoin just ain’t playing ball. It continues to follow the Nasdaq 1:1 and that market gave a perfect intraday reversal signal yesterday. Prepare for bearish trend. The crypto market experienced significant volatility and declines over the past 24 hours, with the total market capitalization dropping around 2-5% to approximately $3.53T-$3.75T, amid heightened fear as the Fear & Greed Index fell to 22-32, signaling extreme investor anxiety. Liquidations surged, exceeding $725M to over $1B across the market, primarily affecting long positions (around 70%), as selling pressure intensified. 0 13 Trading volumes spiked, with DeFi activity at $23.24B, though stablecoins dominated nearly 98% as traders sought safety. 27 Bitcoin (BTC) broke below key supports like $114K-$117K, dipping to around $104K-$108K (down 2-2.3%), while Ethereum (ETH) tumbled under $3,600-$4,000 (down ~6%). 9 16 Other majors like Solana (SOL, -6.8%), XRP (-5.5%), and BNB (-4.5%) also slid, influenced by broader risk-off sentiment from U.S.-China trade tensions and macro pressures. BTC and ETH ETFs saw outflows, contrasting with earlier inflows, while BTC hashrate hit a new all-time high. Trending Altcoins: ASTER, ZORA, LINK, RIO, TRUMP, QUBIC. Many AI-focused tokens bucked the trend initially but later saw declines, with most down 3-25%. 10 28 Analysts eye potential further drops for BTC to $100K-$90.5K if pressure persists, with increased short positions and hedging via derivatives (BTC put-to-call ratio at 1.33). Regulatory and Institutional Developments G20’s Financial Stability Board (FSB) warned of systemic risks from global crypto regulation gaps. 12 22 UK’s FCA is advancing tokenised investment funds. 22 SEC Chair Paul Atkins pledged pro-innovation crypto and tokenization policies, rebranding the agency as the “Securities and Innovation Commission.” NYC Mayor launched a Digital Assets Office; U.S. Bancorp started a dedicated digital assets unit for custody and tokenization. 11 22 Sony Bank’s Connectia Trust applied for a U.S. crypto banking charter to issue stablecoins and provide custody. 15 Ethereum activated the Fusaka upgrade on Sepolia testnet; Brevis ZK upgrade celebrated by Vitalik Buterin and others. 18 SUI DEX volume hit a new monthly all-time high in just 15 days. 16 Hyperliquid spent $640M on token buybacks; Cysic mainnet likely in November. Visa rebranded DeFi as “onchain finance” to tap the $670B stablecoin market; Cloudflare partnered with Visa, Mastercard, and AmEx for secure AI payment rails. Paxos accidentally minted and burned $300T PYUSD in an internal error, with no funds at risk. 1 Kraken acquired IG Group’s U.S.-licensed futures exchange for $100M to expand derivatives. A Trump-related crypto project reportedly generated over $1B; real estate tokenization plays emerged. Upcoming launches: Adix (Oct 18), ACA LUKAS (Oct 20), others (Oct 21). 17 Overall, the market reflected bearish sentiment with heavy liquidations and price drops, but institutional adoptions, upgrades, and AI/blockchain intersections provided counterbalancing positives, setting up potential volatility ahead of macro events like rate cuts.