Bitcoin (BTC) Hits New All-Time High of $125,000

Bitcoin surged past $125,000 on early Sunday, marking a new all-time high as “Uptober” momentum and ETF inflows supercharged demand. Trading volumes exceeded $50 billion in 24 hours, with more than $200 million in short positions liquidated.

The rally followed a week of macro tailwinds, including a US government shutdown and dovish Fed sentiment boosting appetite for hard assets. Sygnum Bank CIO Fabian Dori said political dysfunction reinforced Bitcoin’s store-of-value appeal as institutional accumulation intensified.

Standard Chartered analysts now target $135,000 in the near term, projecting the world’s largest cryptocurrency could top $200,000 before year-end. CoinGlass data shows over $100 million in shorts were liquidated within one hour during the Asia trading session.

Prediction market Myriad had placed 90% odds on Bitcoin breaching $125,000, with traders now favoring continued BTC outperformance through October. Bitcoin dominance climbed to 59%, while stablecoin capitalization surpassed $300 billion as total crypto market value crossed $4 trillion.

MetaMask to Distribute $30 Million in Linea Rewards

MetaMask announced an onchain rewards program distributing $30 million in Linea tokens during its first season. The initiative includes referral bonuses, partner rewards, and access to exclusive token incentives tied to MetaMask’s forthcoming MASK token. Consensys, which incubated both MetaMask and the Linea network, said long-term users will receive priority benefits for participation.

The program will roll out globally through an integrated wallet interface built for community engagement and ecosystem growth. MetaMask described it as a “genuine giveback” effort rather than a farming incentive, emphasizing sustained contribution. Analysts said the rewards highlight MetaMask’s strategy to retain market dominance while preparing for deeper token-linked decentralization features.

Coinbase Applies for National Trust Charter Banking License

Coinbase submitted an application for a National Trust Company Charter with the US Office of the Comptroller of the Currency. The license would allow the exchange to manage reserves and custody institutional assets under direct federal supervision. Coinbase said the move reinforces transparency while enabling faster integration of digital assets into traditional financial infrastructure.

Executives clarified Coinbase has no plans to become a bank, emphasizing its focus on compliance and regulatory cooperation. Approval would grant authority to expand into payments and related products under clearer oversight. Industry observers said Coinbase’s filing signals growing convergence between crypto institutions and legacy banking frameworks as regulation matures.

Court Rules Bored Ape NFTs Not Securities

A federal judge in California ruled that Bored Ape Yacht Club NFTs are not securities under US law. The decision dismissed a class-action lawsuit against Yuga Labs, finding insufficient connection between NFT holders and the issuer’s financial interests. The ruling distinguishes Bored Apes from projects previously considered securities, such as Dapper Labs’ Top Shot NFTs.

The judge noted that royalties earned by Yuga Labs weakened any profit dependency between issuer and buyers. Analysts said the ruling provides critical legal clarity for the NFT sector after years of regulatory uncertainty. Despite the courtroom victory, Bored Ape prices remain far below their 2022 peaks, reflecting broader market fatigue for one of the most expensive NFT collections.

Data of the Day

Bitcoin exchange-traded funds logged $2.25 billion in net inflows this week as “Uptober” enthusiasm lifted markets. BlackRock’s IBIT led with $1 billion, driving cumulative US Bitcoin ETF inflows toward $60 billion since inception. Fidelity, Ark Invest, and Bitwise products also contributed major inflows.

IBIT options open interest surpassed Deribit’s for the first time, indicating institutional preference shifting toward regulated ETF venues. Analysts attributed the rally to optimistic monetary outlooks and seasonal performance trends historically favoring October. Bitcoin and Ethereum prices advanced alongside broader risk assets, reinforcing investor confidence despite ongoing macroeconomic and policy uncertainty.

More Breaking News

• Tether and Antalpha Platform are seeking over $200 million for a digital asset treasury aimed at stockpiling XAUT gold-backed tokens.
• The stablecoin market surpassed $300 billion, with analysts calling the milestone “rocket fuel” signaling fresh liquidity entering crypto markets globally.
• Samsung expanded its Coinbase partnership to integrate Samsung Pay as a funding option, offering Galaxy users Coinbase One promotional access.
• Sam Bankman-Fried said his “biggest mistake” was handing FTX control to John Ray before bankruptcy, claiming it cost him a rescue deal.
• The Ethereum Foundation will swap 1,000 ETH for stablecoins to fund research, grants, and development, echoing last month’s 10,000 ETH conversion.
• Shibarium developers will restart their Ethereum bridge and reimburse users after a $4 million exploit triggered the platform’s emergency shutdown.

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