Bitcoin Magazine

Bitcoin Price Jumps to $103,000 After Tumultuous Week 

Bitcoin price reached $103,500 today after a week of tumultuous trading. Bitcoin started the day down close to $100,000 but rebounded throughout market trading to highs of $103,859 today. 

Earlier this week, Bitcoin plunged below $100,000 for the first time since June on November 4. 

The slump came amid macro pressures, political headlines, and fading risk appetite, pushing bitcoin down to $99,070 and more than 20% off its October high of $126,000, technically entering a bear phase. 

The sell-off follows October’s massive liquidation events, a series of hacks, and trade tensions with China. 

The Federal Reserve’s hawkish tone, including a modest rate cut and signals that further cuts may not come, weighed on sentiment. 

During the Fed’s most recent press conference, Jerome Powell said that December’s rate cuts aren’t guaranteed, Bitcoin’s price immediately reacted — plunging to $109,000 on the day. Since then, the price continued bleeding into this week. The broader crypto market reacted similarly. 

Powell said that inflation excluding the impact of tariffs is “not so far” from the central bank’s 2% target, but emphasized that policymakers have “not made a decision about December.” Powell noted that officials held “strongly differing views” during today’s meeting.

A stronger U.S. dollar added pressure. Technical charts show Bitcoin struggling around its 200-day moving average, with support near $96,000, according to Bitcoin Magazine Pro data.  

Despite this, some bulls, including Michael Saylor’s firm, continue buying the dip, signaling cautious confidence.

Bitcoin price technical analysis

Despite the volatility, major institutions like JPMorgan remain bullish, forecasting a potential rise to $170,000 within 6–12 months, citing undervaluation relative to gold and the conclusion of heavy deleveraging.

Technical indicators offer mixed signals. Up to today, Bitcoin has been trading in a tight $100,000 –$102,000 support corridor, facing resistance at $106K–$114K. 

Short-term buyers have exhausted momentum, while on-chain data highlights friction between capitulating short-term holders at $107K–$110K and long-term holders defending $95K–$96K. 

Institutional flows show tentative accumulation: after six days of withdrawals totaling $2.05 billion, U.S. spot Bitcoin ETFs recorded $240 million in inflows, led by BlackRock and Fidelity. 

Whale activity indicates profit-taking rather than panic, with over 319,000 BTC reactivated in the past month, mostly held six to twelve months.

Recently, Cathie Wood lowered ARK Invest’s 2030 Bitcoin forecast from $1.5 million to $1.2 million, citing stablecoins increasingly taking on Bitcoin’s transactional role while reaffirming its long-term “digital gold” potential. 

Galaxy Digital also cut its year-end Bitcoin target from $185,000 to $120,000, pointing to whale selling, rotations into other assets, and leveraged liquidations, while describing the market as entering a “maturity era.” 

This post Bitcoin Price Jumps to $103,000 After Tumultuous Week  first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

My First Bitcoin Goes Global, Will Empower Educators Worldwide

Founded in 2021, My First Bitcoin began with a single class of four students. Over the next four years, it grew rapidly, teaching more than 27,000 students, creating the world’s first Bitcoin Diploma in public schools, hosting educators’ unconferences, and building a Node Network now spanning 50 projects in 27 countries.

Now, My First Bitcoin is shifting from local classrooms to a global movement. Founder John Dennehy says the focus is on empowering educators, not running programs directly.

“We want to help others succeed in their own communities and link them together,” Dennehy said in a note to Bitcoin Magazine.

The project is also embracing a fully remote structure, closing its office in El Salvador. Local meetups will now be run by independent collectives, using open-source blueprints developed by My First Bitcoin. 

The organization will continue developing curricula, creating digital platforms, and fostering connections among educators worldwide.

“Our mission remains the same,” Dennehy adds. “Independent, impartial Bitcoin education gives people agency, encourages critical thought, and builds long-term freedom. Bitcoin is the tool, education is the pathway.”

The move represents a new phase for the initiative. By training teachers, sharing resources openly, and supporting community-led projects, My First Bitcoin aims to ignite a global movement. The team invites educators, organizers, and Bitcoin advocates to join the network and help expand access to knowledge everywhere.

My First Bitcoin background

Founded in August 2021 by John Dennehy, Mi Primer Bitcoin (My First Bitcoin) began as a small, community-led project in El Salvador with a mission to empower individuals through Bitcoin education. Dennehy, a soft-spoken and introspective thinker, saw education as a means to restore personal agency and sovereignty, especially in a world where people often feel powerless.

The idea took root during the COVID-19 pandemic, when Dennehy spent long walks in New York contemplating society’s challenges. Concluding that the solution lay in education, he initially traveled to Ecuador to teach friends about Bitcoin. 

However, pandemic restrictions made in-person engagement difficult. Shortly afterward, Dennehy learned of El Salvador’s historic adoption of Bitcoin as legal tender and relocated there to support the country’s efforts.

Landing in El Salvador, Dennehy drafted the organization’s mission and lesson plans, recruiting both students and local teachers. He made community leadership a core principle, ensuring that all instructors were Salvadoran to better relate to students. The first class had just one attendee, held in a yoga studio, but the initiative grew steadily. By the end of the first month, five students were regularly participating.

In 2022, Dennehy and his team formalized their curriculum into the “Bitcoin Diploma” program. The diploma includes ten lessons covering monetary systems, Bitcoin fundamentals, wallets, nodes, mining, security, the Lightning Network, and Bitcoin’s future. By the end of that year, 38 high school students in El Salvador had earned their diplomas.

The organization’s impact has since expanded globally. In 2023, Mi Primer Bitcoin launched the Independent Bitcoin Educators Node Network, now encompassing over 65 projects across 35 countries. These initiatives range from circular economies to local meetups, united by six core principles: independent, impartial, community-led, Bitcoin-only, high-quality education focused on empowerment rather than profit.

In May 2025, the nonprofit received a $1 million grant from Jack Dorsey’s Start Small to scale its global efforts, including enhancing the Bitcoin Diploma, intro courses, teacher workshops, and its Online School and Community Hub. 

Despite the funding, Dennehy emphasized that the nonprofit will never accept government funding and carefully vets other sources to preserve independence.

This post My First Bitcoin Goes Global, Will Empower Educators Worldwide first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

JPMorgan Just Boosted its Bitcoin ETF Holdings by 64%

JPMorgan disclosed a sharp increase in its holdings of the Bitcoin ETF IBIT, signaling rising institutional interest in cryptocurrency exposure. 

According to 13F filings, the bank reported holding 5,284,190 shares of IBIT, valued at $343 million as of September 30. 

This marks a 64% increase from its previous disclosure of 3,217,056 shares as of June.

The filing also revealed that JPMorgan holds IBIT options, including $68 million in call options and $133 million in puts. 13F filings aggregate holdings across all bank divisions, including high-net-worth clients, meaning these positions may not be limited to the bank’s own balance sheet.

JUST IN: JP Morgan reported holding 5,284,190 shares of #Bitcoin ETF IBIT worth $343 million, a 64% increase from the previous disclosure. pic.twitter.com/nccPXk0krX

— Bitcoin Magazine (@BitcoinMagazine) November 7, 2025

Bitcoin itself has remained volatile in recent months, hovering just above $100,000, but institutional flows like JPMorgan’s ETF holdings underscore confidence in its long-term prospects. 

The bank’s sizable purchase also coincides with renewed interest in regulated investment vehicles, such as ETFs.

JPMorgan’s bitcoin embrace

JPMorgan analysts recently said that Bitcoin now appears undervalued relative to gold after a sharp October sell-off pushed its price down more than 20% from its recent record high of $126,000. 

The decline was driven by leveraged liquidations in the futures market and market anxiety following a $128 million Balancer hack. 

According to analyst Nikolaos Panigirtzoglou of JPMorgan, the ratio of open interest in perpetual futures to Bitcoin’s market cap has since normalized, signaling that most excess leverage has been flushed out.

The bank’s analysis also shows Bitcoin is trading at a discount to gold when adjusting for volatility. As gold prices climbed above $4,000 per ounce, its volatility rose, while Bitcoin’s has eased. 

To reach parity with gold’s private-sector investment value on a risk-adjusted basis, analysts estimate Bitcoin would need to rise toward $170,000 — roughly two-thirds higher than recent levels.

JPMorgan forecasts “significant upside” over the next six to twelve months if current conditions persist, reinforcing the case for Bitcoin as an alternative or accomplice to gold as a risk-averse asset.

At the same time, JPMorgan is preparing to let institutional clients use Bitcoin as collateral for loans by the end of 2025, expanding beyond its current acceptance of crypto-linked ETFs. 

At the time of writing, Bitcoin is price near $100,000 at $101,290 per Bitcoin Magazine Pro data. Earlier this quarter in October, Bitcoin hit an all-time high above $126,000. The price is down roughly 20% from all-time highs.

This post JPMorgan Just Boosted its Bitcoin ETF Holdings by 64% first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Trump-backed American Bitcoin Corp Expands Holdings to 4,004 BTC, Boosts Satoshis Per Share Metric

American Bitcoin Corp. (Nasdaq: ABTC), a Bitcoin accumulation and infrastructure company, announced it has added 139 Bitcoin to its reserves since October 24, bringing its total holdings to 4,004 BTC as of November 5, 2025.

The company said the Bitcoin was acquired through a combination of mining operations and strategic market purchases.

According to a company release Friday, American Bitcoin’s “Satoshis Per Share” (SPS) — a transparency metric showing how much Bitcoin backs each share of stock — rose 3.35% over the past 12 days to 432 satoshis per share. 

The firm said this figure includes Bitcoin held in custody and coins pledged under a miner purchase agreement with Bitmain.

“We continue to expand our Bitcoin holdings rapidly and cost-effectively through a dual strategy that integrates scaled Bitcoin mining operations with disciplined at-market purchases,” said Eric Trump, co-founder and chief strategy officer of American Bitcoin.

The Miami-based company describes its goal as building “America’s Bitcoin infrastructure backbone,” combining industrial-scale mining with balance-sheet accumulation. 

American Bitcoin said it plans to continue providing regular SPS updates as part of its commitment to transparency and shareholder alignment with Bitcoin’s long-term growth.

JUST IN: Trump family-backed #Bitcoin mining company American Bitcoin acquires 139 BTC.

They now hold 4,004 BTC pic.twitter.com/jKxUzzMsY2

— Bitcoin Magazine (@BitcoinMagazine) November 7, 2025

American Bitcoin’s Nasdaq debut and the Gryphon merger

American Bitcoin Corp. (Nasdaq: ABTC) emerged on the public markets in September 2025. The company was created through a merger between Gryphon Digital Mining, Inc. and American Bitcoin Corp., a Trump family–backed subsidiary of Hut 8 Corp. (Nasdaq | TSX: HUT). 

The all-stock merger, finalized earlier this year, combined Gryphon’s mining technology and operational expertise with American Bitcoin’s capital resources and reserve-focused strategy. 

Under the terms of the deal, Gryphon shareholders retained roughly 2% of the new entity, while American Bitcoin stakeholders — including Hut 8, which contributed most of its mining ASICs — held approximately 98%.

Co-founded by Eric Trump and Donald Trump Jr., American Bitcoin positions itself as a patriotic Bitcoin accumulation vehicle aligned with what the Trump family describes as “American values of freedom, transparency, and independence.” 

The company’s dual accumulation model aims to maintain a cost advantage by mining Bitcoin below market price while retaining the flexibility to add to reserves through spot purchases. 

Its partnership with Hut 8 also provides access to large-scale colocation infrastructure without requiring heavy capital expenditure on proprietary facilities — a structure meant to maximize efficiency, scale hash rate, and grow the company’s reserve base over time.

This post Trump-backed American Bitcoin Corp Expands Holdings to 4,004 BTC, Boosts Satoshis Per Share Metric first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Kazakhstan Plans $1 Billion National Bitcoin and Crypto Reserve Fund

Kazakhstan is preparing to establish a national cryptocurrency reserve fund worth between $500 million and $1 billion, a landmark step that could make the Central Asian nation one of the first to integrate digital assets into its sovereign wealth strategy.

The fund will be seeded with assets seized or repatriated from abroad, along with proceeds from state-backed bitcoin mining operations. 

Central bank governor Timur Suleimenov said in London this week that the fund will invest “very carefully” through regulated instruments such as exchange-traded funds (ETFs) and shares of companies involved in digital finance, rather than holding cryptocurrencies like bitcoin directly.

The initiative, slated for launch by early 2026, represents Kazakhstan’s most concrete move yet to institutionalize its crypto strategy after years of experimenting with mining and tightening control over private operators. 

Officials said the program will be managed under the Astana International Financial Centre (AIFC) — the country’s fintech hub — and may eventually include foreign investment partners.

JUST IN: Kazakhstan to launch $1 billion crypto reserve fund using seized assets by 2026: Bloomberg pic.twitter.com/Mg9ylWTtst

— Bitcoin Magazine (@BitcoinMagazine) November 7, 2025

Kazakhstan’s plan to turn seized assets into strategic capital

Plans for a state-run crypto fund first surfaced in 2024, when the country’s Agency for Financial Monitoring proposed consolidating confiscated wallets and mined tokens into a national reserve. 

The goal, according to officials, was to “repurpose illicitly obtained digital assets” to strengthen Kazakhstan’s economic sovereignty.

By transforming seized or idle crypto holdings into a structured investment pool, Kazakhstan aims to turn what was once a compliance challenge into a source of growth and diversification. 

The model echoes similar efforts in the U.S. and Europe, where seized crypto has increasingly been managed through regulated channels.

The U.S.’s crypto reserve, created under a March 2025 executive order, serves as a strategic stockpile of government-owned digital assets — mainly Bitcoin — acquired through forfeiture proceedings. 

Rather than purchasing new cryptocurrencies with taxpayer funds, the initiative focuses on managing these existing holdings to support national interests and strengthen America’s leadership in the digital asset space. 

A push beyond oil

For decades, Kazakhstan’s economy has relied heavily on oil exports, leaving it vulnerable to commodity cycles. President Kassym-Jomart Tokayev has championed economic reforms to reduce that dependence and push the nation toward technology, innovation, and digital finance.

The crypto reserve fund aligns with that vision. By focusing on ETFs and blockchain-linked equities, the central bank hopes to gain exposure to bitcoin’s upside while avoiding the custodial and volatility risks of holding tokens outright.

The fund also dovetails with broader ambitions to turn Kazakhstan into Central Asia’s leading fintech center. The government’s flagship “Alatau CryptoCity” project — envisioned as a testing ground for blockchain startups and crypto-based payments — will complement the reserve fund.

This post Kazakhstan Plans $1 Billion National Bitcoin and Crypto Reserve Fund first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Price Dances with $100,000 as Crypto Industry Waits to See What’s Next

Bitcoin price slipped below $100,000 this week for the first time since June, down more than 20% from its all-time highs above $120,000 last month. 

The decline comes after weeks of steady spot-market selling, profit-taking by long-term holders, and a cautious macro environment. ETF outflows, a stronger dollar, and broader risk-off sentiment have added to pressure. 

Bitcoin traded back above $102,000 today, showing some resilience, but volatility remains elevated, according to Bitcoin Magazine Pro.

Analysts point to ongoing accumulation by new buyers, though long-time holders are reactivating coins at a notable pace. 

Vetle Lunde of K33 Research noted that over 319,000 Bitcoin held for six to twelve months have moved in recent weeks, much of it real selling. 

Markus Thielen of 10x Research said mega whales — entities holding between 1,000 and 10,000 BTC — have been offloading significant amounts, while mid-size holders have largely stopped buying. 

He estimates that roughly 400,000 Bitcoin, about $45 billion, has exited the market in the last month.

Rebel money to institutional asset

Bitcoin’s rise over the past decade and a half has been punctuated and marked by identity shifts. In the early years, enthusiasts felt part of a secret movement to build better money for a better world. 

Critics were loud but often misinformed, and debates over privacy, environmental impact, and financial sovereignty energized the community. The vibes were high, and the project felt meaningful beyond mere price.

Now, according to Troy Cross, With the entry of Wall Street and ETFs, Bitcoin’s brand evolved. It became a hedge, a retirement asset, a component in treasury strategies. Its revolutionary appeal — as a tool to bank the unbanked and resist centralized control — is still technically intact, but the narrative has shifted. 

The focus moved from being a rebellion against fiat to being a corporate- and finance-friendly instrument. 

Michael Saylor and other institutional adopters have accelerated this trend. Bitcoin now shares the limelight with gold and equities, often framed in risk-adjusted portfolios rather than as a movement for financial empowerment.

Despite this, the core of Bitcoin remains unchanged. It is still global, permissionless, and censorship-resistant. Anyone can participate. Transactions remain verifiable and final. 

Bitcoin price action over the past month

Price action highlights this duality, as seen over the past month. On October 10, U.S. President Trump’s threat to impose a 100% tariff on Chinese imports triggered widespread panic, sparking the largest single-day liquidation in cryptocurrency history — over $19 billion in leveraged positions were wiped out within 24 hours.

Some traders anticipate a retest of $92,000, tied to CME futures gaps, while others see support around $98,000–$100,000. Other analysts expect a push to $170,000. 

History suggests that these pauses are not the end of Bitcoin’s story. Each cycle has included phases of distribution, consolidation, and renewed growth. What is changing is not the network itself but the surrounding culture — the shift from a secret movement to an accepted, institutional asset.

This post Bitcoin Price Dances with $100,000 as Crypto Industry Waits to See What’s Next first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Cathie Wood Lowers Bitcoin 2030 Target To $1.2 Million as Stablecoins Gain Popularity 

ARK Invest CEO Cathie Wood has adjusted her long-term Bitcoin forecast, citing the rise of stablecoins as a force in the crypto space.

Speaking on CNBC’s Squawk Box Thursday, Wood said that stablecoins are increasingly serving as digital dollars for payments and remittances — functions she previously expected Bitcoin to fulfill.

“Stablecoins are usurping part of the role that we thought Bitcoin would play,” Wood said. “Given what’s happening with stablecoins, we could take maybe $300,000 off that bullish case.” 

The adjustment reduces ARK Invest’s 2030 Bitcoin price target from $1.5 million to $1.2 million, although Wood emphasized that the cryptocurrency’s long-term potential as “digital gold” remains intact.

Wood noted that this stablecoin trend reflects broader adoption and signals that Bitcoin’s role is evolving more toward a store-of-value function rather than a transactional one.

“Bitcoin is still strengthening its role as a global store of value, but in the payment area stablecoins are becoming a more practical means,” Wood said. 

She also touched on Bitcoin’s decentralized network and limited supply as key drivers of its long-term economic momentum.

Galaxy Digital also drops Bitcoin target

Galaxy Digital recently lowered its year-end target to $120,000, down from $185,000, citing large-scale selling by whales, rotations into assets like gold and AI, and leveraged liquidations. 

Alex Thorn, Galaxy’s head of research, described this period as a “maturity era,” in which lower volatility and institutional absorption dominate the market.

Despite the temporary pullbacks, JPMorgan analysts remain bullish on Bitcoin, projecting prices could climb to $170,000 over the next six to twelve months as leverage in futures markets resets. 

Bitcoin itself has faced a turbulent month. Following an all-time high above $126,000 in early October, the cryptocurrency has fallen roughly 19%, dipping below $100,000 for the first time in four months amid panic selling and cascading liquidations. At the time of writing, Bitcoin is at $101,950.

While some analysts argue that a decline of 20% or more signals a bear market, others maintain that such corrections remain typical within crypto cycles.

Despite all this volatility, Wood reaffirmed ARK Invest’s long-term bullish stance. “Bitcoin is a technology, a global monetary system, and a new asset class all wrapped in one,” she said. “We have just started, so we have a long way to go.” 

This post Cathie Wood Lowers Bitcoin 2030 Target To $1.2 Million as Stablecoins Gain Popularity  first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Samourai Wallet CEO Sentenced to Five Years for Operating Unlicensed Bitcoin Mixing Service

A Samourai Wallet developer was sentenced Thursday to five years in prison for operating a crypto mixing service prosecutors say laundered $237 million in illicit funds. 

Keonne Rodriguez, the CEO of Samourai Wallet, received the statutory maximum from U.S. District Judge Denise Cote of the Southern District of New York, following an hour-long hearing in Manhattan, according to journalist Frank Corva.  

Fellow developer William Lonergan Hill, the company’s CTO, is scheduled to be sentenced Friday.

Rodriguez and Hill were arrested in April 2024 and charged with conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business. After over a year of litigation, both pled guilty to the lesser unlicensed money transmitting charge in exchange for prosecutors dropping the more serious money laundering conspiracy charge, which carries a maximum of 20 years in prison.

Samourai Wallet allegedly hid criminal activity  

Prosecutors said the pair operated Samourai Wallet’s crypto mixing services, Whirlpool and Ricochet, to obscure the origins of criminal proceeds from drug trafficking, darknet marketplaces, cyber intrusions, fraud schemes, and murder-for-hire operations. 

Whirlpool coordinated batches of Bitcoin exchanges between users, while Ricochet introduced multiple intermediate transactions, or “hops,” to make tracing funds more difficult. From Ricochet’s 2017 launch and Whirlpool’s 2019 inception, more than 80,000 Bitcoin—  valued at over $2 billion at the time — passed through the services, generating over $6 million in fees.

Court documents reveal that Rodriguez and Hill actively encouraged criminal use of Samourai Wallet. In WhatsApp messages, Rodriguez described the service as “money laundering for bitcoin,” and Hill promoted Whirlpool on Dread, a darknet forum, as a tool to make illicit funds “untraceable.” 

Following a 2020 social media hack, the pair tracked stolen funds in real time and publicly urged hackers to launder the proceeds through Samourai Wallet.

The Department of Justice framed the case as part of a broader crackdown on cryptocurrency mixing services, following the August conviction of Tornado Cash co-founder Roman Storm for operating an unlicensed money transmitting business. 

Special agents from the IRS-Criminal Investigation and the FBI emphasized that Rodriguez and Hill not only facilitated but actively promoted laundering of illicit proceeds, undermining public trust in digital assets.

Rodriguez, 35, had requested a sentence of one year and a day, while Hill sought time served. Prosecutors had asked for the full five-year statutory maximum for both defendants, which Judge Cote imposed on Rodriguez. 

Hill’s sentencing is set for Friday at 11 a.m. ET.

This post Samourai Wallet CEO Sentenced to Five Years for Operating Unlicensed Bitcoin Mixing Service first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

JPMorgan: Bitcoin Looks Cheap Compared to Gold, Bitcoin Price to $170,000

JPMorgan strategists say Bitcoin (BTC) now appears undervalued relative to gold following a steep October sell-off driven by leveraged liquidations and market turmoil.

Bitcoin fell more than 20% last month after hitting an all-time high of $126,000, a drop that JPMorgan’s Nikolaos Panigirtzoglou attributed to heavy deleveraging in futures markets and fallout from a $128 million hack of the DeFi platform Balancer. 

He noted that the ratio of open interest in perpetual futures to Bitcoin’s market capitalization has since returned to average levels, suggesting that “excess leverage has largely been cleared.”

ETF outflows have been modest compared to prior inflows, Panigirtzoglou added, pointing to a more stable market backdrop. 

“Most of the deleveraging activity is now behind us,” he said, adding that the futures open interest ratio remains a key indicator for short-term price direction.

On a volatility-adjusted basis, Bitcoin is now trading at a discount compared to gold. JPMorgan’s analysis found that as gold’s price surged above $4,000 per ounce—bringing higher volatility—Bitcoin’s own volatility subsided. To reach parity with gold’s $6.2 trillion in private-sector investment on a risk-adjusted basis, Bitcoin’s price would need to climb roughly two-thirds, to around $170,000.

“Having been $36,000 too high compared with gold at the end of last year, Bitcoin is now around $68,000 too low,” Panigirtzoglou wrote.

JUST IN: $3.4 trillion JPMorgan strategist says #Bitcoin has “significant upside for the next 6-12 months” over gold. pic.twitter.com/KJlmnfsKes

— Bitcoin Magazine (@BitcoinMagazine) November 6, 2025

With leverage normalized and volatility easing, JPMorgan sees room for “significant upside” over the next six to twelve months if current conditions persist—an outlook that could strengthen Bitcoin’s appeal as a digital alternative to gold in investor portfolios.

Bitcoin price update

Bitcoin is currently trading at $101,977 after a tumultuous October. Bitcoin kicked off October with bull‑momentum, hitting a fresh all‑time high north of approximately $125,000–$126,000 around October 6.

But that euphoria proved short-lived. Soon after the peak, Bitcoin came under pressure: a massive liquidation of over $19 billion in perpetual futures contracts accelerated the unwind.

Macroeconomic jitters — trade tensions, central‑bank ambiguity and risk‑asset weakening — compounded the correction.

By month‑end, Bitcoin had recorded its first losing October since 2018, slipping around 4 %–5 % overall and suffering one of its worst October performances on record. 

Despite the recent fall, the year‑to‐date picture remained positive — though less exuberant than some bulls expected.

Earlier in October, JPMorgan put out some research that suggests Bitcoin could be undervalued versus gold, with potential to rise to $165,000 based on volatility-adjusted comparisons and growing investor demand.

This post JPMorgan: Bitcoin Looks Cheap Compared to Gold, Bitcoin Price to $170,000 first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Robinhood Considers Adding Bitcoin as a Reserve Treasury as Crypto Revenue Surges

Robinhood (NASDAQ: HOOD) executives say the company is still debating whether to add Bitcoin (BTC) to its corporate treasury, even as crypto-related revenues soar.

Speaking on Robinhood’s third-quarter 2025 earnings call Wednesday, CEO Vlad Tenev said Robinhood has spent “a lot of time” evaluating the potential move. He emphasized that adding Bitcoin to the balance sheet would both signal alignment with the crypto community and tie up capital.

“If you put it [Bitcoin] on your balance sheet, it has the positives in that you’re aligned with the community, but it does take up capital,” Tenev said. 

“Are we making that decision for them? Is it the best use of our capital?” Tenev later said. “I think the short answer is we’re still thinking about it.”

Treasurer Shiv Verma echoed that sentiment, noting that while Robinhood regularly debates the idea, the firm hasn’t reached a conclusion. 

“We spend a lot of time thinking about this [and] have this debate constantly,” Verma said. “We’ll keep actively looking at it.”

JUST IN: Public company Robinhood is considering adding #Bitcoin to its corporate treasury pic.twitter.com/5JYxAr92Nc

— Bitcoin Magazine (@BitcoinMagazine) November 6, 2025

The discussion comes as Robinhood’s crypto revenues surged 339% year-over-year, reaching $268 million in Q3. Cryptocurrency trading accounted for about 20% of the company’s total income during the quarter, driven by what CFO Jason Warnick called a “nice step-up in crypto volumes.”

Tenev also outlined Robinhood’s broader digital asset ambitions, including plans to expand its tokenized stock program. “Where it really starts to get interesting is phase two and phase three,” he said, referring to potential secondary trading on Bitstamp and eventual integration with DeFi platforms.

Bitcoin as a corporate reserve strategy 

Bitcoin is emerging as a reserve asset strategy among public and private companies seeking protection from currency debasement and inflation. 

Following the playbook popularized by Strategy, Japan-based Metaplanet has become one of the most aggressive adopters in Asia, using debt financing to accumulate Bitcoin as a core treasury holding.

Metaplanet recently tapped a $100 million loan to expand its Bitcoin reserves, framing the move as a long-term monetary hedge rather than a speculative bet. 

The company now holds thousands of BTC on its balance sheet and describes its approach as “a corporate response to a weakening yen and global monetary instability.”

Earlier this week, Strategy announced the purchase of 397 bitcoin for approximately $45.6 million at an average price of $114,771 per Bitcoin. The announcement comes as Bitcoin’s price has been volatile, briefly dipping below $100,000.

This post Robinhood Considers Adding Bitcoin as a Reserve Treasury as Crypto Revenue Surges first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Miami Mayor Francis Suarez Says His Bitcoin Paycheck Is Up 300%

Miami Mayor Francis Suarez says he’s sitting on major gains from his Bitcoin paychecks, telling Fox Business he’s “up 300%” since taking his salary in bitcoin.

“I got paid at $30,000,” Suarez said, noting that Bitcoin had even been up 400% when it hit $120,000 earlier this year. Despite recent market volatility — with Bitcoin slipping below $100,000 this week — Suarez said he isn’t worried about short-term price swings.

[The volatility of bitcoin] “really doesn’t bother me,” he told host Stuart Varney. “I’m more concerned with the macro impact of having a store of value that people have faith in, that has a money creation system known through the code.”

Suarez, who famously became one of the first U.S. politicians to take his pay in Bitcoin, said the focus should be on how decentralized finance and crypto are evolving alongside AI. “What’s more interesting is this evolution of where decentralized finance is going, where crypto is going, where AI is going,” he said.

Speaking at the American Business Forum in Miami, Suarez also highlighted the city’s rise as a financial hub. He said Miami’s pro-capitalist ethos stands in “diametric opposition” to cities like New York, predicting a surge in real estate and business interest as a result.

Back in 2021, Suarez said the city will soon give bitcoin to its citizens as part of a plan to build a full Bitcoin economy. Suarez said he envisions a future where “the Satoshi system” is used for payments, including city taxes. 

He added that increasing Bitcoin’s utility will drive further value and adoption. Suarez also said he wants city employees paid in BTC and residents to pay fees in the cryptocurrency. 

Miami’s current mayoral race is heading to a Dec. 9 runoff between Democrat Eileen Higgins and Republican Emilio Gonzalez. Suarez was term-limited, and couldn’t run for mayor again.

Celebrities getting paid in Bitcoin

Recently, NFL star Odell Beckham Jr. vindicated his decision to take his 2021 Los Angeles Rams salary in Bitcoin. Beckham had converted his $750,000 base salary to BTC through a Cash App deal when Bitcoin traded around $60,000. 

Critics mocked the move as Bitcoin later crashed nearly 80%, but by July 2025, the asset had surged to record highs above $120,000. 

“Safe to say we still happy with our decision,” Beckham posted on X as Bitcoin hit new all-time highs. 

At $118,000 per BTC, his original payout was worth about $1.47 million — nearly double its 2021 value. Even after a combined 49.3% tax rate, Beckham would have taken home roughly $1.1 million, almost triple what he’d have earned in cash. 

Other notable athletes who have taken their earnings in Bitcoin include Russell Okung, who received half of his $13 million Panthers salary in BTC, and Saquon Barkley, who opted to take $10 million in endorsements in Bitcoin.

This post Miami Mayor Francis Suarez Says His Bitcoin Paycheck Is Up 300% first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bitcoin Magazine

Institutions Stay Bullish on Bitcoin as Retail Capitulates: Bitwise CIO Sees Crypto Rally Ahead

Bitwise CIO Matt Hougan says the crypto market may be nearing a turning point as retail exhaustion deepens and institutional demand quietly builds.

Appearing on CNBC, Hougan — who oversees $12 billion in assets at Bitwise — said retail sentiment is at “maximum desperation” following months of liquidations, leverage blowouts, and yield protocol failures.

“It’s hard to find a crypto native investor who still has much enthusiasm,” he said. “That market is close to a bottom.”

JUST IN: $12 billion Bitwise CIO Matt Hougan on CNBC: “I am optimistic that we are going to rally at the end of the year.” pic.twitter.com/QsEOKaeKBS

— Bitcoin Magazine (@BitcoinMagazine) November 5, 2025

In contrast, Hougan noted that institutional investors remain upbeat. 

“When I speak to financial advisors, they’re still excited to allocate to an asset class that’s delivered strong long-term returns,” he said, adding that he expects a year-end rally as institutional capital begins to take the lead. 

“So I’m optimistic, but we do have to finish this wash out of retail sentiment,” Hougan said.

Meanwhile, on Capitol Hill, Senator Cynthia Lummis reaffirmed her support for digital asset integration within the U.S. banking system. 

Addressing tensions over stablecoin regulation, Lummis said she wants community banks to be able to custody and manage both fiat and digital assets.

“This is the 21st-century economy,” Lummis said on X. “Digital assets are the future, and we need to make sure community banks embrace the opportunity.”

She noted that Louisiana, Virginia, and Wyoming already allow banks to custody crypto — and expects more states to follow as new legislation advances.

Bitcoin price rebound

Bitcoin and the broader crypto market has seen a turbulent month, dipping below $100,000 on Tuesday — its lowest level since June — before rebounding above $103,000 today. 

The slide was driven by heavy selling pressure, nearly $1.8 billion in ETF outflows, and a stronger U.S. dollar following Federal Reserve Chair Jerome Powell’s hawkish tone, signaling that interest rates could stay higher for longer.

The sell-off traces back to October 10, when President Trump announced 100% tariffs and export controls on China, sparking a broad crypto liquidation. Bitcoin fell roughly 20–25% from early October highs, while altcoins like Ethereum and Solana dropped as much as 40%. Crypto-linked stocks, including MicroStrategy, Coinbase, and Robinhood, also slid. 

Open interest in Bitcoin futures fell around 30%, reflecting a pullback from leveraged traders, and the crypto fear and greed index reached “extreme fear.”

But, as retail investors capitulate, Matt Hougan’s comments suggest institutional demand could soon take the lead in crypto accumulation.

This post Institutions Stay Bullish on Bitcoin as Retail Capitulates: Bitwise CIO Sees Crypto Rally Ahead first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Price Rebounds Above $103,000 After Dipping Below Six Figures — Bull Run Next? 

Bitcoin price has bounced back to over $103,000 today after plunging below $100,000 on Tuesday — its lowest level since June — as extreme fear gripped the market. 

The drop came amid heavy selling pressure, ETF outflows, and renewed macro uncertainty.

Earlier this week, investors pulled nearly $1.8 billion from Bitcoin and other crypto ETFs, while crypto-linked stocks like Strategy and Coinbase also declined. 

Adding to the pressure, Federal Reserve Chair Jerome Powell signaled that interest rates could stay higher for longer, strengthening the U.S. dollar and weighing on non-yielding assets like Bitcoin.

Despite the turmoil, some investors are seeing opportunity. Michael Saylor’s firm, Strategy, recently bought 397 BTC at an average of $114,771, signaling confidence in bitcoin price’s long-term trajectory.

While sentiment remains cautious and “extreme fear” dominates, Bitcoin’s rebound above $103,000 shows resilience. 

The entire crypto market was rattled on October 10, when bitcoin and the broader market witnessed a drastic and sharp sell-off as President Trump announced sweeping 100% tariffs and export controls in response to China’s new restrictions on nearly all products starting November 1, 2025. 

The news triggered a sharp crypto sell-off, with bitcoin briefly down 12% and other major cryptocurrencies falling as much as 40%.

Since then, bitcoin price and other crypto have failed to recover from those levels. Bitcoin specifically has shown resilience to the other altcoins, dropping only 20-25% from early October levels. 

Bitcoin price bull run may be closer than it looks

Bitcoin’s recent price slump might actually be the setup for its next big rally. While BTC has struggled to keep pace with record-breaking moves in Gold and the S&P 500, market patterns suggest a familiar rotation is unfolding — one that has historically preceded major Bitcoin bull runs.

Each time Gold rallies hard, it eventually cools, and capital rotates into riskier assets like equities and Bitcoin. This cycle has repeated across multiple eras — 2012, 2016, 2020 — and the setup looks eerily similar today. 

Gold recently hit new highs but has started to lose steam, while stocks are pushing higher. That shift typically signals renewed risk appetite — prime conditions for Bitcoin.

Yet when measured against other assets rather than the dollar, Bitcoin still has room to run. A return to its prior relative highs versus equities or Gold would imply BTC prices near $150,000 – $160,000.

This post Bitcoin Price Rebounds Above $103,000 After Dipping Below Six Figures — Bull Run Next?  first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Metaplanet Draws $100 Million Bitcoin-Backed Loan to Buy More Bitcoin

Tokyo-listed Bitcoin treasury firm Metaplanet has tapped a $100 million Bitcoin-backed loan to fuel further bitcoin accumulation, expand its income business, and potentially repurchase shares amid mounting market volatility.

The borrowing, executed on October 31 and disclosed today, November 4, marks the first drawdown from Metaplanet’s $500 million credit facility announced in late October. 

The funds will primarily go toward additional Bitcoin acquisitions, according to the company.

Metaplanet’s loan is collateralized by its 30,823 BTC — worth roughly $3.5 billion — and represents just 3% of its total holdings, underscoring what management called a conservative financial policy, according to CoinPost.

The agreement features no fixed maturity date and allows repayment at any time, giving the company broad flexibility. The lender remains undisclosed but reportedly offered flexible daily renewal terms and a variable rate tied to U.S. benchmarks.

Metaplanet is expanding Bitcoin income and buybacks

Metaplanet said proceeds from the loan will also be allocated to its growing Bitcoin income business, which generates yield through cash-secured options writing. The strategy allows the company to earn premiums while holding BTC long term — a structure designed to offset volatility.

That business segment has grown rapidly: in Q3 2025, it produced ¥24.4 billion ($160 million) in revenue, a 3.5× increase year-over-year, according to filings.

A portion of the funds may also support Metaplanet’s ¥75 billion share repurchase program, authorized in late October. The company plans to buy back shares whenever its market value falls below the value of its Bitcoin holdings — a threshold it breached last month when its modified net asset value ratio slipped to 0.99×.

Japan’s Bitcoin treasury giant

Since pivoting from IT services earlier this year, Metaplanet has become Japan’s largest corporate Bitcoin holder and now ranks fourth globally, trailing only MicroStrategy, Marathon Digital, and Hut 8 Mining.

The Tokyo-listed firm has committed to an ambitious goal of holding 210,000 BTC by the end of 2027, cementing its role as Asia’s most aggressive institutional Bitcoin accumulator.

Its treasury strategy mirrors that of Strategy, which continues to issue debt and equity to expand its Bitcoin position — now exceeding 641,000 BTC.

Metalanet partners with SBI VC Trade for custody and trading operations and maintains what it calls “sufficient collateral coverage” to withstand major price declines without risking liquidation.

As of press time, Bitcoin was trading near $102,600, down roughly 1% on the day.

This post Metaplanet Draws $100 Million Bitcoin-Backed Loan to Buy More Bitcoin first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Switzerland’s FUTURE Raises CHF 28 Million to Build ‘Europe’s Premier Bitcoin Treasury’

The international Bitcoin ecosystem just got another major player.

FUTURE (Future Holdings AG), a self-described “Bitcoin Treasury Company,” has raised CHF 28 million in a new funding round backed by some of Bitcoin’s best-known institutional investors. CHF 28 million is over $34 million.

The Zurich-based firm says it wants to become Europe’s leading Bitcoin treasury platform — a kind of institutional bridge connecting Bitcoin with global capital markets.

The round was anchored by Fulgur Ventures, Nakamoto, and TOBAM, three firms deeply tied to both traditional finance and Bitcoin investing.

Led by a heavyweight team from the worlds of venture capital, fintech, and Bitcoin infrastructure, FUTURE is positioning itself at the crossroads of finance and sound money. 

The company’s leadership includes Chairman Richard Byworth, Managing Partner at Syz Capital and former CEO of Diginex, and CEO Sebastien Hess, a fintech entrepreneur who previously worked with Rocket Internet and Bitcoin mining venture Block Green (backed by Peter Thiel and Coinbase).

Other co-founders include Marc Syz, CEO at Syz Capital; Julian Liniger, CEO of Swiss Bitcoin app Relai; and Adam Back, the inventor of Hashcash and CEO of Blockstream — a name synonymous with Bitcoin’s early technical foundations.

“This round brings together leading venture investors who share our conviction in Bitcoin and in the strength of the team we’ve built at FUTURE,” said CEO Sebastien Hess. “Their commitment reflects confidence in our execution and our vision to build Europe’s premier Bitcoin treasury company — a trusted institutional gateway that connects Bitcoin with global capital through financial discipline, technology, and transparent governance.”

Byworth added that Switzerland’s macro backdrop — with a 0% base rate and negative-yielding government bonds — gives the company a strategic edge. 

“The calibre of investors in this round, and the strong interest we’ve seen in a challenging environment, highlight the demand for a Swiss Bitcoin Treasury Company,” he said.

FUTURE’s model is built around a Bitcoin-heavy balance sheet that forms the foundation of its business. The firm’s integrated approach combines four key verticals: Bitcoin treasury operations, institutional research and analytics, infrastructure and custody solutions, and advisory services — including the upcoming Future Bitcoin Forum 2026 in Switzerland.

“Switzerland has a long tradition of financial innovation and trust,” said Vice-Chairman Marc Syz. “It’s time for the country to continue on that path and lead in Bitcoin by building institutional infrastructure that meets the highest global standards.”

Disclosure: Nakamoto is in partnership with Bitcoin Magazine’s parent company BTC Inc to build the first global network of Bitcoin treasury companies, where BTC Inc provides certain marketing services to Nakamoto. More information on this can be found here.

This post Switzerland’s FUTURE Raises CHF 28 Million to Build ‘Europe’s Premier Bitcoin Treasury’ first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Price Plunges Below $100,000 As Extreme Fear Hits the Market 

Well, the bitcoin price bleeding just doesn’t stop. Bitcoin price just tumbled below $100,000 for the first time since June, marking a fresh low in a rough stretch for the world’s leading cryptocurrency. 

Bitcoin’s price hit $99,913 but rebounded to $100,575 — at time of writing.

The bitcoin price slide comes as investors flee risk assets and macro headwinds mount.

The cryptocurrency dropped more than 5% early Tuesday, briefly testing levels not seen in months. Traders watched nervously as the coin broke below key technical support around $104,000. That move yesterday fueled concerns that further losses could be imminent.

Spot Bitcoin ETFs have seen a wave of withdrawals. Investors pulled more than $1.8 billion from Bitcoin and Ether products over the past few trading days. 

Ethereum and Solana were hit harder, each falling over 5%, while crypto-linked stocks like MicroStrategy, Coinbase, and Robinhood slipped at least 3%.

“The crypto market today is facing multiple near-term headwinds,” said Derek Lim, head of research at Caladan, per Bloomberg. “This is hitting a market that is already fragile from October’s massive liquidation event and a string of hacks.” 

All this bitcoin price resistance started when, on October 10, Bitcoin and the broader crypto market witnessed a drastic and sharp sell-off as President Trump announced sweeping 100% tariffs and export controls in response to China’s new restrictions.

Despite improved trade talks with China, bitcoin price has not recovered and has slumped much further than the sell-off lows. 

Bitcoin price reacts to Fed’s hawkish tone

The Federal Reserve has also weighed on sentiment. Fed Chair Jerome Powell recently walked back expectations of a December rate cut, signaling that interest rates could remain higher for longer. 

Powell said that additional rate cuts may not follow in December. The central bank reduced its benchmark interest rate by 0.25 percentage points to a target range of 3.75%–4%.

Powell said that inflation excluding the impact of tariffs is “not so far” from the central bank’s 2% target, but emphasized that policymakers have “not made a decision about December.” Powell noted that officials held “strongly differing views” during the meeting. 

The cut — the Fed’s second of 2025 after a move in September — ended a long stretch of rate holds. The policy shift is intended to lower borrowing costs and support economic activity.

The stronger U.S. dollar has pressured non-yielding assets like Bitcoin, adding fuel to the sell-off.

Technical charts show Bitcoin price has struggled to hold its 200-day moving average, a key long-term indicator. Analysts say the next line of support sits near $96,000. On the upside, reclaiming $111,000 would be a first step toward regaining momentum.

Market sentiment reflects caution. The crypto fear and greed index shifted to “extreme fear” on Monday, a stark change from last week’s neutral readings. 

Open interest in Bitcoin perpetual futures has fallen roughly 30% from October peaks, indicating that leveraged traders are stepping back, according to Bitcoin Magazine Pro.

Some bulls are still buying the dip. Strategy, the firm co-founded by Bitcoin evangelist Michael Saylor, purchased 397 BTC between Oct. 27 and Nov. 2 at an average price of $114,771. Their move is a small but notable vote of confidence amid the turbulence.

Investors now look ahead to the U.S. Consumer Price Index report due Nov. 13. Cooler inflation data could spark speculation of Fed easing, a potential boost for Bitcoin. Until then, sellers remain in control, and a sustained close below $100,000 could trigger deeper losses.

Despite the pullback, Bitcoin’s long-term story remains intact. It surged from $5,000 in March 2020 to over $126,000 in October 2025, highlighting the coin’s volatility and resilience.

But for now, traders are treading carefully, wary of further downside as the market digests October’s historic losses.

This post Bitcoin Price Plunges Below $100,000 As Extreme Fear Hits the Market  first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Sequans Sells 970 Bitcoin to Slash Debt, Bitcoin Price Slumps to $101,000 

Sequans Communications S.A. (NYSE: SQNS) sold 970 Bitcoin to redeem 50% of its July convertible debt. The move reduced total debt from $189 million to $94.5 million.

The company’s Bitcoin treasury now stands at 2,264 BTC, worth about $240 million. This lowers Sequans’ debt-to-net-asset-value ratio from 55% to 39%. The sale frees up capital and boosts flexibility for the company’s ADS buyback program.

Sequans is the first publicly listed Bitcoin treasury company to offload a significant portion of its holdings. The transaction does not change the company’s long-term Bitcoin strategy, the company said. 

The Paris-based IoT semiconductor provider will continue to pursue its Bitcoin treasury initiative while exploring capital markets opportunities. These include potential preferred-share issuance and yield generation on portions of its remaining Bitcoin.

Sequans’ stock traded near $6.25, down 13% after the announcement. Year-to-date, shares are down 82%. 

The company maintains a current ratio of 1.83 and reported $8.1 million in Q2 revenue, with a net loss of $9.1 million. The debt reduction removes covenant constraints and provides additional strategic flexibility for its Bitcoin treasury management.

This move was slightly expected as analysts flagged the transfer last week after a wallet linked to Sequans moved bitcoin to a Coinbase address.

Back in July, the company announced that it had moved into Bitcoin through a treasury initiative backed by a $384 million private placement. The funding included $195 million in equity securities and $189 million in convertible secured notes. 

Sequans planned to use this capital to build a Bitcoin position alongside its core IoT operations. 

Bitcoin price slumps

Sequan’ sale comes as bitcoin continues to slide due to economic factors. Bitcoin’s price has slumped below $101,000, down from its early October all-time high above $126,000.

The decline has been driven by heavy outflows from crypto ETFs, with spot Bitcoin ETFs losing $1.3 billion and spot Ether ETFs nearly $500 million since October 29. 

Technical factors added pressure, as Bitcoin briefly fell below its 200-day moving average, a key gauge of long-term momentum. Renewed strength in the U.S. dollar and lingering market fear following October’s “crypto Black Friday” liquidation event have further suppressed buying interest.

JUST IN: #Bitcoin dips to $101,759

BUY THE DIP pic.twitter.com/42T1vXgO3f

— Bitcoin Magazine (@BitcoinMagazine) November 4, 2025

Analysts warn that if Bitcoin breaks below $100,000, a sharper decline toward April’s $74,000 lows is possible, suggesting a potential 30% downside. 

Polymarket data currently puts the odds of Bitcoin falling below $100,000 before 2026 at 89%.

This post Sequans Sells 970 Bitcoin to Slash Debt, Bitcoin Price Slumps to $101,000  first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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North Korean Hackers Stole Over $3 Billion in Crypto, U.S. Sanctions Bankers and IT Firms

The U.S. Treasury Department on Tuesday sanctioned eight individuals and two entities connected to North Korea’s cybercrime operations. The move targets the flow of crypto stolen by DPRK hackers and laundered through overseas networks.

Over the past three years, North Korea-affiliated cybercriminals have stolen more than $3 billion, mostly in crypto, according to the Treasury Department. They used advanced malware, social engineering, and ransomware to hit banks, exchanges, and other digital platforms.

The U.S. Treasury said the funds help Pyongyang finance its nuclear weapons and missile programs.

 “North Korean state-sponsored hackers steal and launder money to fund the regime’s nuclear weapons program,” said John K. Hurley, Treasury Under Secretary for Terrorism and Financial Intelligence.

The sanctions hit bankers Jang Kuk Chol and Ho Jong Son. They helped manage over $5.3 million in cryptocurrency linked to ransomware attacks and revenue from DPRK IT workers abroad.

Korea Mangyongdae Computer Technology Corp., an IT firm, was also sanctioned. The company runs IT worker delegations in China and uses local proxies to hide the source of funds. Its president, U Yong Su, was designated as well, per the Treasury’s release.

Ryujong Credit Bank, based in Pyongyang, was sanctioned for helping launder money between North Korea and China. Five DPRK banking representatives in China and Russia were also targeted for moving millions in dollars, yuan, and euros through global financial networks.

Last year, The FBI issued a warning that North Korean hackers are targeting U.S. cryptocurrency exchange-traded funds (ETFs) to steal digital assets. 

The attacks use advanced social engineering, including detailed research on employees in crypto and DeFi sectors, personalized scams, fake job offers, and malware deployment.

North Korean exploits

According to the Treasury’s release, North Korea also exploits IT workers overseas. They hide their nationality using false identities and contracts. Some collaborate with non-North Korean freelancers, diverting project revenue back to Pyongyang.

Treasury said the sanctions block all property and interests of the designated individuals and entities under U.S. jurisdiction. U.S. persons are prohibited from doing business with them. Financial institutions that violate the rules could face enforcement actions.

Experts say North Korea’s crypto operations are highly sophisticated. The country mixes cybercrime, sanctions evasion, and overseas IT labor to fund its weapons programs.

Tuesday’s action underscores the growing role of cryptocurrency in North Korea’s illicit finance. The U.S. aims to cut off Pyongyang’s access to digital assets while warning the global financial system against helping these networks.

This post North Korean Hackers Stole Over $3 Billion in Crypto, U.S. Sanctions Bankers and IT Firms first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

BlackRock Expands Global Bitcoin Strategy with Australian ETF Launch

BlackRock, the world’s largest asset manager, is reportedly planning to launch the iShares Bitcoin ETF (ASX: IBIT) on the Australian Securities Exchange, extending its global Bitcoin investment strategy to the Asia-Pacific region.

Expected to debut in mid-November 2025, IBIT will give Australian investors regulated exposure to Bitcoin through a traditional stock exchange structure, removing the need for offshore accounts or direct crypto custody. 

The ETF will carry a management fee of 0.39% and will wrap the U.S.-listed iShares Bitcoin Trust (NASDAQ: IBIT), which has become one of the most successful ETF launches in history since its January 2024 debut.

The Australian listing places the country alongside major jurisdictions such as the United States, Germany, and Switzerland where Bitcoin ETFs are already active. 

The move also reflects growing institutional demand for Bitcoin across the Asia-Pacific region as more investors seek regulated access to the asset. 

Australia’s embrace of crypto

The announcement follows the Australian Securities and Investments Commission’s updated guidance reclassifying most digital assets as financial products, requiring service providers to obtain an Australian Financial Services Licence by June 2026. 

While Bitcoin itself is not a financial product, funds and platforms offering Bitcoin exposure will operate under this regulatory framework, providing additional investor protection and market transparency.

In other words, a Bitcoin ETP or ETF lets investors gain exposure to Bitcoin without actually buying or storing the cryptocurrency themselves. 

Instead, the fund holds Bitcoin (or Bitcoin-related contracts) while investors simply buy shares on a stock exchange, with the share price moving alongside Bitcoin’s market value. It’s a convenient and easy way to get invested in Bitcoin. 

The announcement comes as Bitcoin trades down from record highs around $104,000, supported by rising inflows into global ETFs and accelerating institutional adoption. 

Earlier last month, BlackRock officially listed its iShares Bitcoin ETP (IB1T) on the London Stock Exchange following the FCA’s decision to relax rules on crypto investment products. 

The physically backed fund allowed retail investors to gain Bitcoin exposure without directly holding the asset, with custody managed by Coinbase. 

Just like with this launch in Australia, the launch was viewed as timely amid rising UK crypto adoption, offering a regulated and accessible entry point for investors.

Last June, Monochrome Asset Management announced their Bitcoin ETF (IBTC) in Australia. The ETF traded under the ticker IBTC and carried a management fee of 0.98%.

This post BlackRock Expands Global Bitcoin Strategy with Australian ETF Launch first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Price Slumps to $102,000 as Fed Policy, Investor Sentiment Pressure Markets

Bitcoin Price extended its losses today, sliding more than 2.5% to around $102,852 as renewed U.S. dollar strength and investor outflows from crypto ETFs weighed heavily on the market. 

The bitcoin price drop comes after Bitcoin’s worst October performance in nearly a decade, further denting sentiment among traders already reeling from a historic liquidation event last month.

Bitcoin briefly traded below $103,000, its lowest level in over two weeks, breaking below the critical 200-day moving average — a key gauge of long-term market momentum, according to Bitcoin Magazine Pro data.

Since then, Bitcoin has rebounded to above $104,000 at time of writing.

According to market analyst Damian Chmiel, a sustained break below $100,000 could trigger a sharper sell-off toward the April lows near $74,000, implying a potential 30% downside from current levels.

According to updated Polymarket data, there’s now an 80% chance of the Bitcoin price falling below $100,000 before 2026

JUST IN: There's now a 78% chance of #Bitcoin falling below $100,000 before 2026, according to Polymarket

HODL! pic.twitter.com/PL99SaYIZo

— Bitcoin Magazine (@BitcoinMagazine) November 4, 2025

Fed policy shift and macro headwinds

The broader macro backdrop remains unfavorable for risk assets. Federal Reserve Chair Jerome Powell’s comments last week walked back expectations of a December rate cut, reinforcing the “higher for longer” interest rate narrative. 

That shift has boosted the U.S. dollar while simultaneously pressuring non-yielding assets such as Bitcoin.

Adding to the selling pressure, ETF investors have withdrawn more than $1.8 billion from Bitcoin and Ether products over the past four trading days, data shows, while open interest in BTC perpetual futures has fallen about 30% from its October peak, signaling a pullback in leveraged exposure.

Bitcoin price technical breakdown

Bitcoin’s $106,900 support level — aligned with the 0.146 Fibonacci retracement — was repeatedly tested last week but ultimately failed to inspire follow-through buying. 

Analysts now view $104,000 as the next line of defense, though this level has already been tested twice and is increasingly fragile.

If $104,000 breaks decisively, traders are eyeing $96,000 as the next significant support zone. On the upside, bulls must reclaim the 21-day EMA and Point of Control around $111,000 to reestablish momentum, followed by resistance at $114,600 and $122,000, per Bitcoin Magazine Pro.

Bearish bias persists

The overall market mood remains bearish as traders continue to deleverage and avoid aggressive long positions. 

“The crypto market is facing multiple near-term headwinds,” said Derek Lim, head of research at Caladan, according to Bloomberg. “It’s already fragile from October’s massive liquidation event and a string of protocol exploits.”

With Bitcoin’s technicals under pressure and macro catalysts lacking, traders are looking ahead to the November 13 Consumer Price Index report for a potential shift in sentiment. 

Cooler inflation data could reopen the door for Fed easing — a development bulls desperately need to reverse the trend. For now, however, Bitcoin remains on the defensive, with sellers firmly in control and a close below $100,000 threatening to accelerate the slide.

This post Bitcoin Price Slumps to $102,000 as Fed Policy, Investor Sentiment Pressure Markets first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Price Crashes to $106,000 As Bulls Eye Strong November

Bitcoin price has extended its losses, dipping to lows of $105,200 today, following a volatile start to November and ending a remarkable seven-year “Uptober” streak. 

After closing October with a 4% decline — the first negative October since 2018 — Bitcoin price faces increased selling pressure amid tighter financial conditions, cautious institutional flows, and macroeconomic headwinds.

The recent correction follows an early-October flash crash that dragged Bitcoin down to $104,000, wiping out much of its Q3 momentum. Despite a partial recovery, BTC remains roughly 14% below its recent peak near $125,000.

At the time of writing, the Bitcoin price is at $106,234.

Bitcoin price analysis

Technical charts reveal that Bitcoin recently tested three support lows before sweeping liquidity beneath them. 

On the daily timeframe, BTC held a key low within a demand area, which historically has been a strong support level. This zone previously trapped impatient sellers before a bounce, suggesting that BTC may once again find short-term support here. 

Zooming into the 15-minute chart, a clean demand zone is forming where Bitcoin could react before making its next directional move, potentially targeting liquidity above current highs. Traders familiar with such setups note that markets often prepare for moves that leave panicking participants behind.

JUST IN: #Bitcoin dips to $105,545

HODL! pic.twitter.com/WVYBnd4EL2

— Bitcoin Magazine (@BitcoinMagazine) November 3, 2025

On-chain data offers further insight into Bitcoin’s current position. The Short-Term Holder (STH) Realized Price, which represents the average cost basis for recent buyers, sits around $113,000. 

Historically, this level has acted as a dynamic support zone, providing a foundation for accumulation and future upward moves. 

Holding above this line signals that short-term participants are at breakeven or slight profit, bolstering market confidence.

The STH Market Value to Realized Value (MVRV) Ratio also highlights potential upside. Multiplying the current STH Realized Price by historical MVRV thresholds projects resistance levels between $160,000 and $200,000, aligning with past cycle patterns.

Long-Term Holder (LTH) MVRV metrics reinforce this outlook, suggesting diminishing returns but potential peaks around $163,000–$165,000. 

Rolling MVRV frameworks, including two-year and 100-day analyses, indicate that BTC is still in an accumulation-friendly range, capturing optimal points for entering the market ahead of the next bullish phase.

Bitcoin at $200,000 soon?

Earlier today, Fundstrat’s Tom Lee remained bullish on Bitcoin, predicting it could still surge to $150,000–$200,000 by the end of 2025 despite recent market turbulence.

He noted that the mid-October liquidation event — the largest in crypto history, even bigger than FTX — occurred just weeks ago.

Earlier today, Strategy announced they reinforced its aggressive Bitcoin accumulation approach, purchasing 397 BTC for about $45.6 million at an average price of $114,771 per BTC.

According to a November 3, 2025 SEC Form 8-K filing, Strategy now holds a total of 641,205 BTC, with an aggregate purchase cost of $47.49 billion and an average price of $74,057 per BTC, including fees and expenses.

This post Bitcoin Price Crashes to $106,000 As Bulls Eye Strong November first appeared on Bitcoin Magazine and is written by Micah Zimmerman.