Bitcoin is consolidating near $103,000 as major crypto developments shape market sentiment. Bitwise launched the first U.S. Solana ETF, drawing $420mn despite the SEC shutdown, while SoFi Bank became the first in the U.S. to enable direct Bitcoin trading for 12.6mn users.
At the same time, China’s hacking accusations against the U.S. added fresh geopolitical tension to an already volatile market.
Bitwise Asset Management has made history by launching the first spot Solana ETF (ticker: BSOL) on the New York Stock Exchange. The fund debuted on October 28, becoming the first U.S. altcoin-based ETF and marking a major milestone for the crypto industry.
Despite the ongoing SEC shutdown, investor demand was strong, with the ETF attracting $420 million in its first week. The product gives investors a regulated and secure way to gain exposure to Solana (SOL), the sixth-largest cryptocurrency by market capitalization.
SoFi Technologies (NASDAQ: SOFI) has become the first national bank in the United States to let customers buy, sell, and hold Bitcoin directly within their bank accounts. The feature is part of the new SoFi Crypto platform, which will roll out to 12.6 million users by the end of 2025.
CEO Anthony Noto called it a “pivotal moment when banking meets crypto,” describing it as a secure and regulated way for consumers to enter digital assets.
The launch follows new OCC and FDIC guidelines under President Trump’s deregulatory agenda, allowing banks to handle cryptocurrency trading and custody. Unlike exchanges, SoFi provides FDIC-insured accounts and strict compliance monitoring, appealing to cautious investors.
SoFi also plans to launch crypto-integrated lending and a stablecoin, signaling its deeper move into blockchain finance and boosting confidence in Bitcoin’s mainstream adoption.
China’s National Computer Virus Emergency Response Center (CVERC) has accused the United States of involvement in one of the largest Bitcoin thefts in history, the 2020 hack of the LuBian mining pool, which resulted in the loss of 127,000 BTC.
Beijing claims the breach was part of a coordinated cyber operation linked to U.S. intelligence agencies. The stolen Bitcoin, worth billions of dollars, has reportedly been traced across multiple wallets and mixers.
The accusation adds new tension to the ongoing U.S.-China tech and cybersecurity rivalry, as both nations ramp up blockchain oversight and digital finance security measures.
Bitcoin (BTC/USD) is trading near $103,300, consolidating after last week’s high around $107,500. On the 4-hour chart, BTC is forming a rising wedge, a pattern that often signals short-term pullbacks after strong rallies. The latest rejection near the wedge top came with a bearish engulfing candle, hinting at profit-taking.
Despite the dip, BTC stays above the 20-EMA, showing that bullish sentiment remains intact. The RSI at 45 points to neutral momentum, leaving room for a rebound if buyers step in near support. The next key levels sit at $101,400 and $99,200, both areas where demand previously returned.
A move above $104,500 could confirm renewed bullish momentum, targeting $107,500 and $110,500 — the wedge’s upper boundary. But a break below $101,400 risks deeper losses toward $99,200.
For traders, buying dips around $101K-$103K with stops below $99K remains the preferred setup. If momentum rebuilds, Bitcoin could aim for $111,000, supported by rising institutional inflows and steady macro sentiment.
Bitcoin Hyper ($HYPER) is bringing a new phase to the Bitcoin ecosystem. While BTC remains the gold standard for security, Bitcoin Hyper adds what it always lacked: Solana-level speed.
Built as the first Bitcoin-native Layer 2 powered by the Solana Virtual Machine (SVM), it merges Bitcoin’s stability with Solana’s high-performance framework. The result: lightning-fast, low-cost smart contracts, decentralized apps, and even meme coin creation, all secured by Bitcoin.
Audited by Consult, the project emphasizes trust and scalability as adoption builds. And momentum is already strong. The presale has surpassed $26.8 million, with tokens priced at just $0.013255 before the next increase.
As Bitcoin activity climbs and demand for efficient BTC-based apps rises, Bitcoin Hyper stands out as the bridge uniting two of crypto’s biggest ecosystems. If Bitcoin built the foundation, Bitcoin Hyper could make it fast, flexible, and fun again.
