Here’s a quick recap of the crypto landscape for Monday (October 27) as of 9:00 a.m. UTC.
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrencymarket news
Bitcoin (BTC) was priced at US$115,014, a 0.9 percent increase in 24 hours. Its lowest valuation of the day was US$113,083, and its highest was US$116,032.
Bitcoin (BTC) climbed to two-week highs on Monday, breaking above US$115,600 as investors priced in expectations of an upcoming Federal Reserve interest rate cut. The cryptocurrency has now risen for five consecutive sessions, with Sunday’s 2.6 percent gain pushing BTC past the 50-day exponential moving average at US$114,176.
Technical analysts see the move as a potential prelude to a fresh rally, contingent on continued market support and Fed signals.
Trader Ted Pillows noted on X that Bitcoin has “fully reclaimed the $114,000 support zone” and emphasized that the next key hurdle is US$118,000. He added that, if momentum holds, “a new ATH could happen in 1-2 weeks.”
Market watchers are now closely monitoring the Fed meeting for confirmation of rate-cut expectations, which could provide further bullish fuel for BTC and broader crypto markets.
Ether (ETH) was priced at US$4,167.45, a 1.5 percent increase in 24 hours. Its lowest valuation of the day was US$4,053.35, and its highest was US$4,246.23.
Bitcoin derivatives metrics indicate ongoing caution and positioning for downside risk.
Liquidations for Bitcoin contracts have totaled approximately US$6.42 million in the last four hours, the majority of which were long positions, reflecting short-term selling pressure.
Ether liquidations showed a similar pattern, with long positions dominating US$15.55 million in liquidations, though long and short liquidations were more evenly split.
Futures open interest for Bitcoin fell 0.50 percent to US$75.51 billion, and Ether futures declined 0.57 percent to US$49.89 billion, suggesting modest rotation or renewed altcoin activity.
The perpetual funding rate for Bitcoin was 0.008 and 0.009 for Ether, indicating a mild long bias among remaining positions. Bitcoin’s relative strength index stood at 54.84, reflecting neutral-to-moderately bullish momentum and room for price growth before overextended conditions.
Binance is weighing a US market re-entry following President Trump’s pardon of founder Changpeng Zhao, exploring options to consolidate its American affiliate or allow direct access for US investors, Bloomberg reported.
The pardon clears Zhao’s 2023 conviction for failing to maintain anti-money laundering controls, restoring his ability to lead financial ventures.
Hours after the announcement, Zhao expressed ambitions to make the US “the Capital of Crypto” and expand Web3 globally. Binance’s BNB token jumped 8 percent in response.
Zhao currently oversees a blockchain ecosystem with around US$8.7 billion in assets, ranking third behind Ethereum and Solana.
JPYC launched Japan’s first regulated yen-pegged stablecoin on October 27.
The stablecoin aligns with Japan’s Payment Services Act, requiring full reserve backing in yen deposits and government bonds. JPYC aims to issue 10 trillion yen (US$67 billion) over three years, challenging the US-dominated stablecoin market where USDC holds roughly US$40 billion.
The framework prioritizes consumer protection and financial stability, lessons drawn from the 2022 TerraUSD collapse.
JPYC offers zero-fee issuance, redemption, and transfers, earning income via interest on reserves in deposits and government bonds. Each transfer is capped at 1 million yen under the regulatory structure.
American Bitcoin (ABTC) expanded its strategic reserve to 3,865 BTC, acquiring 1,414 BTC through both open-market purchases and in-house mining, according to a company release.
The accumulation lifts the company’s Satoshis per Share (SPS) metric to 418, a 52 percent increase since September 1.
Integrated mining enables ABTC to secure BTC at lower costs than external acquisitions, giving it a structural advantage over competitors.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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