This week, the cryptocurrency market showed active dynamics with a series of important events. Among the key news are the pardon of Changpeng Zhao by the U.S. President, the launch of the first Solana-ETF in Hong Kong, and Polymarket’s plans to issue its own token.
This is reported by Business • Media
Bitcoin: Fluctuations and Predictions
Throughout the week, Bitcoin traded in a range of $106,000–$114,000, demonstrating significant volatility. Crypto analysts have varying expectations regarding the future price movement.
“The peak timing will depend on the fundamental phase transformation of the market, which has yet to occur in the current cycle,” noted PlanB.
Experts from Standard Chartered and Galaxy Digital predict a short-term correction but emphasize the long-term resilience of the cryptocurrency market.
Key Events of the Week
Among the most notable events are the pardon of Changpeng Zhao by U.S. President Donald Trump, the launch of the first spot Solana-ETF in Hong Kong, and Polymarket’s plans to issue the POLY token.
Tether reported a significant achievement— the number of USDT users has exceeded 500 million. The company aims to earn $15 billion by the end of the year.
At the same time, unexpected news emerged in the market. Notably, U.S. First Lady Melania Trump and Argentine President Javier Milei became involved in a lawsuit regarding fraud with meme coins.
Cryptocurrency exchanges and platforms also faced challenges. Specifically, on October 20, several services, including Coinbase, experienced issues due to a massive outage in Amazon Web Services.
The team at nof1.ai launched a unique competition for trading crypto assets among six AI models, showcasing further integration of artificial intelligence in the financial sector.