Crypto Price Analysis 10-20: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, DOGWIFHAT: WIF, UNISWAP: UNI

The cryptocurrency market has started the week in positive territory, with its market capitalization up almost 2% to reach $3.69 trillion. Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies traded in positive territory over the weekend as buyers neutralized the growing selling pressure at lower levels. BTC traded between $107,000 and $108,000 over the weekend, ending Sunday at 108,676. The flagship cryptocurrency is up over 4% during the ongoing session, trading around $110,731. 

Meanwhile, ETH has reclaimed the $4,000 mark and is up almost 5%, trading around $4,058. Ripple (XRP) is up 5%, trading around $2.46, while Solana (SOL) is up 4%, trading around $193 as it looks to reclaim the $200 mark. Dogecoin (DOGE) is up 7% and Cardano (ADA) is up over 7%, trading around $0.673. Chainlink (LINK) is up 11% and Stellar (XLM) is up 6%. Hedera (HBAR), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) have also registered substantial increases. 

Andrew Cuomo Promises Crypto Reforms If Elected To Office 

New York City mayoral hopeful Andrew Cuomo plans to win over residents by promising to make the city the “global hub of the future.” Cuomo also plans to appoint a chief innovation officer (CIO) to lead efforts if elected as mayor. The mayoral hopeful outlined several emerging technologies, including cryptocurrency, artificial intelligence, and biotech, as key pillars for his run. Cuomo stated, 

“The next Mayor must make sure we’re also leading in the technologies that will define the next century — AI, blockchain, and biotech. That’s what this position is about: Keeping New York City not just competitive, but dominant in the global innovation economy.”

Cuomo also plans to form an “innovation council” that will advise the CIO on policy development, industry standards, and consumer protection. The council will consist of three advisory committees, one for each of the focus areas. The crypto and blockchain advisory council will replace outdated regulations with an up-to-date framework promoting innovation while protecting consumer interests. 

Arthur Hayes Looking To Raise $250M For New Fund 

Maelstrom, BitMEX co-founder Arthur Hayes’ family office, is seeking $250 million for a new fund that will look to acquire buyouts of distressed or undervalued crypto infrastructure and services companies. The fund will look to acquire equity stakes in trading and data analytics platforms, and will complete the deals through special purpose vehicles. According to sources, Maelstrom will assign between $40 million and $75 million towards each acquisition. Akshat Vaidya, Maelstrom’s co-founder and managing partner, stated that the fund will acquire crypto platforms that have strong fundamentals, clear valuations, and income-generating models. 

Strategy Can Convert Capital Into Bitcoin (BTC) In Hours: Michael Saylor 

Strategy executive chairman Michael Saylor has said that Bitcoin treasury companies like Strategy can turn fresh capital into BTC almost instantly. Saylor also posted a fresh teaser about another BTC purchase on Sunday. The Strategy executive chairman stated during an interview, 

“The investment cycle is a thousand times faster than technology, real estate, oil and gas, or anything else you’ve ever seen before in your life. Sometimes we’re literally selling 50 million an hour or 100 million an hour and buying the $100 million of Bitcoin the same hour. Like we could do a billion dollars of capital raising in a day, and we might have 20 million of exposure at 4 pm, and by 5 pm, 6 pm, we’re fully done.”

Strategy is preparing to buy more BTC even as treasury companies face growing pressure after a sharp drop in net asset value (NAV). Strategy’s BTC purchases are often viewed as a bullish catalyst for the asset. Strategy is the largest corporate holder of BTC, with 640,250 BTC after its latest purchase on October 13. According to Saylor, Strategy can accumulate BTC and provide a return for investors far quicker than other avenues. 

“You can essentially sell it before you build. We’re literally building it in real time. We’re open for business every day with four credit ATMs. If someone hit the bid and wanted to buy $500 million in a minute, we could build a building in a minute. In 60 seconds. Trade is done. Cash changes hands. We create the collateral. We bought the Bitcoin underlying that day.”

President Trump Confirms Meeting With Xi Jinping 

US President Donald Trump has confirmed he will be meeting Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit in Seoul, South Korea. Trump had previously stated he would not be meeting the Chinese president following a dramatic escalation in trade tensions between the US and China. 

“We're going to meet in a couple of weeks. We're going to meet in South Korea, with President Xi and other people, too. [Xi Jinping] is a very strong leader, a very amazing man. You can look at what he's done, where he is in his life. It is an amazing story. It's a story for a great movie. I think we're gonna be fine with China, but we have to have a fair deal. It's going to be fair.”

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) has started the week on a bullish note, up over 2%. The flagship cryptocurrency has reclaimed the $111,000 level and is trading around $111,088. BTC steadied itself over the weekend after enduring almost two weeks of selling pressure, rising 0.70% on Saturday and 1.37% on Sunday to settle at 108,676. However, the Crypto Fear& Greed index remains in “fear” territory. 

Data from Coinglass revealed that one of the biggest reasons behind the market rebound is confirmation that senior Chinese officials will be meeting with representatives from the US to resolve trade issues ahead of the APEC summit in South Korea. Treasury Secretary Scott Bessent confirmed the developments. The news comes as a relief for traders and investors. The US and China witnessed a dramatic escalation in trade tensions, sparking fears of another round of trade tariffs. China recently stated it would restrict exports of rare earth minerals to the US, a move that could potentially disrupt key sectors. It also hinted at retaliation against any new tariffs, adding that it no longer relies on American chips. 

Analysts believe several near-term catalysts are driving the recovery. The Federal Reserve’s FOMC meeting is set for October 28-29, with investors anticipating a 25 bps rate cut. Lower interest rates typically weaken the dollar and support risk assets like BTC. New spot ETF filings have also buoyed investor sentiment, helping price recovery. Analysts believe approval of the ETF proposals of the XRP and Solana ETFs could boost institutional capital and further strengthen the market. 

However, some analysts fear the rally could be a dead-cat bounce, where prices bounce back temporarily before resuming the downtrend. BTC trader Daan Crypto Trades believes there is more volatility to come, stating, 

“Volatility is definitely high here due to the thin books post this massive market flush. Books are thin. Especially after the massive liquidation event last week. This, combined with weekend price action and a lot of emotional traders, makes for relatively volatile moves on low timeframes.”

BTC and the broader crypto market crashed last Friday (October 10), after President Trump announced 100% tariffs on Chinese goods and new export controls for software. The announcement was made in retaliation for China's imposition of restrictions on rare earth mineral exports. As a result, BTC plunged to $102,000 on Binance before recovering and settling at $112,980. Selling pressure persisted on Saturday as the price fell almost 2% to $110,768. Despite the overwhelming selling pressure, markets recovered on Sunday as BTC rose nearly 4% to reclaim $115,000 and settle at $115,067.

Source: TradingView

The price faced selling pressure and volatility on Monday, ultimately registering a marginal increase and settling at $115,274. Selling pressure returned on Tuesday as BTC fell to an intraday low of $109,945. It recovered from this level to reclaim $113,000 and settle at $113,068, ultimately dropping 1.91%. Sellers retained control on Wednesday as the price fell 2% to $110,804. Bearish sentiment persisted on Thursday as BTC fell below $110,000 and settled at $108,198. The price plunged to a low of $103,516 on Friday as selling pressure intensified. However, it recovered from this level to settle at $106,463, ultimately dropping 1.60%. BTC rose on Saturday, rising 0.70% to reclaim $107,000 and settle at $107,208. Buyers retained control on Sunday as the price rose over 1% to cross $108,000 and settle at $108,676. BTC has reclaimed $111,000 during the ongoing session and is trading around $111,060, up over 2%. 

Ethereum (ETH) Price Analysis 

Ethereum (ETH) has started the week in bullish territory and has reclaimed the $4,000 level. The altcoin steadied itself over the weekend, rising 1.52% on Saturday and settling at 3,892. Bullish sentiment intensified on Sunday as the price rose over 2% and settled at $3,985. ETH is up 1.42% during the ongoing session, trading around $4,041. 

ETH’s recovery wave began on Saturday after the altcoin plunged to a low of $3,680 on Friday, forming a low around this level. The altcoin is facing resistance around $4,050, with the first major resistance sitting around $4,200. A clean break above these levels could send the price towards $4,500. On the other hand, if ETH fails to clear this level, it could begin a fresh downtrend that could drive the price towards $3,800 or lower. 

Meanwhile, Ethereum ETFs registered sharp outflows for the week ending Friday. Despite ETH’s price struggles last week, Tom Lee, Chairman of BitMine Immersion Technologies, remains bullish about the asset. BitMine has accumulated a staggering $1.5 billion in ETH since the crash. The accumulation indicates BitMine and Lee’s conviction about ETH, despite Lee recently warning that the hype around digital asset treasuries (DAT) may be coming to an end. 

BitMine has made three major purchases since last Friday’s market crash, although the acquisitions are yet to be officially confirmed by the company. BitMine has established itself as the largest Ether treasury company, holding more than 3 million ETH, worth $11.7 billion. The company intends to hold 5% of ETH’s supply. Lee stated in a recent discussion with ARK Invest CEO Cathie Wood, 

“Ethereum could flip Bitcoin, similar to how Wall Street and equities flipped gold post 71.”

Lee suggested that BTC and ETH could rise the same way the US Dollar rose to dominance in 1971 after President Nixon made it fully synthetic and no longer backed by gold. 

“When that happened, the immediate beneficiary was demand and a market to own gold. However, in response, Wall Street created products that made the dollar dominant, and the market cap of equities today is 40 trillion compared to 2 trillion for gold. Dollar dominance by the end of that period went from 27% in GDP terms to 57% of central bank reserves, and 80% of financial transactions, quotes. Dollar dominance is going to be the opportunity for Ethereum.”

ETH plunged to an intraday low of $3,444 on Friday (October 10) after President Trump announced 100% tariffs on Chinese imports and export controls on key software. It recovered from this level to settle at $3,836, ultimately dropping over 12%. Selling pressure persisted on Saturday as the fell 2.21% to $3,752. ETH recovered on Sunday, rising nearly 11% to reclaim $4,000 and settle at $4,158. Buyers retained control on Monday as the price rose over 2% and settled at $4,224. ETH plunged to an intraday low of $3,895 on Tuesday as selling pressure intensified. However, it recovered from this level to reclaim $4,000 and settle at $4,129, ultimately dropping $4,129.

Source: TradingView

Sellers retained control on Wednesday as the price fell over 3%, slipping below $4,000 to $3,988. ETH lost momentum on Thursday despite starting the day in positive territory, falling over 2% to $3,896. Selling pressure persisted on Friday as the price fell to an intraday low of $3,680 before settling at $3,834. Despite the overwhelming selling pressure, ETH recovered on Saturday, rising 1.52% to $3,892. Buyers retained control on Sunday as the price rose over 2% and settled at $3,985. ETH has reclaimed the $4,000 mark during the ongoing session and is trading around $4,051. 

Solana (SOL) Price Analysis 

Solana (SOL) recovered over the weekend and is looking to reclaim the $200 mark after starting the week in positive territory. 

SOL is trading in an ascending channel, with steady accumulation around the $190 mark. According to analysts, the setup shows that each retest of the price’s lower levels is being met with strong buyer reaction, indicating that bulls are defending key support levels. The weekend recovery suggests that momentum could be returning, and a possible breakout towards $220 is possible if SOL reclaims $200. Analysts also pointed out that SOL’s current structure aligns with previous accumulation phases, generally seen before major rallies. They also point out that as long as SOL maintains its position above $180, the setup favors a continuation within the rising channel. 

“Everyone’s watching Bitcoin, but Solana might be the next big breakout story. It’s coiling inside a tight ascending channel, now absorbing supply near $190. Each retest of the lower trendline has found buyers faster, not slower. If this is an accumulation pattern, the next leg could be 50% higher.”

SOL started the previous weekend deep in bearish territory as markets crashed. As a result, the price tanked to an intraday low of $170 before settling at $188, ultimately dropping over 14%. Sellers retained control on Saturday as the price fell almost 6% to $177. SOL made a strong recovery on Sunday, rising nearly 11% and settling at $197. The price continued pushing higher on Monday, rising almost 6% to reclaim $200 and settle at $208. Despite the positive sentiment, SOL lost momentum on Tuesday, falling to an intraday low of $191 before recovering to reclaim $200 and settle at $202. Selling pressure persisted on Wednesday as SOL fell over 4%, slipping below $200 and settling at $192. Price action remained bearish on Thursday as the altcoin fell nearly 5% to $184.

Source: TradingView

SOL plunged to an intraday low of $174 on Friday as selling pressure intensified. However, it rebounded from this level to reclaim $180 and settle at $182, ultimately dropping 1.51%. Despite the overwhelming selling pressure, SOL recovered over the weekend, rising over 3% on Saturday and registering a marginal increase on Sunday to settle at $188. SOL is up over 2% during the ongoing session, trading around $191 despite volatility and selling pressure.

Dogwifhat (WIF) Price Analysis

Dogwifhat (WIF) plunged to an intraday low of $0.141 on Friday (October 10) as markets crashed. However, it rebounded from this level and settled at $0.464, ultimately dropping over 34%. Despite the overwhelming selling pressure, the price recovered over the weekend, rising 3.64% on Saturday and nearly 15% on Sunday to settle at $0.552. WIF continued pushing higher on Monday, rising over 9% and settling at $0.605. Selling pressure returned on Tuesday as the price dropped 3.73% to $0.582. Sellers retained control on Wednesday as the price fell nearly 7% and settled at $0.543.

Source: TradingView

Selling pressure persisted on Thursday as WIF fell 3.40% and settled at $0.524. The price continued dropping on Friday, declining 3.31% and settling at $0.507. Despite the overwhelming selling pressure, WIF recovered on Saturday, rising 1.86%. Buyers retained control on Sunday as the price rose almost 2% to $0.531. WIF is up nearly 4% during the ongoing session, trading around $0.550.

Uniswap (UNI) Price Analysis

Uniswap (UNI) plunged to an intraday low of $2.32 during last Friday’s market crash. However, it recovered from this level to reclaim $5 and settle at $5.80, ultimately dropping 26%. The price recovered over the weekend, rising 0.96% on Saturday and over 13% on Sunday to settle at $6.63. Buyers retained control on Monday as UNI rose almost 7% to $7.07. Despite the positive sentiment, UNI lost momentum on Tuesday, dropping 3.34% to $6.83. Selling pressure persisted on Wednesday as the price fell almost 4% to $6.58.

Source: TradingView

Sellers retained control on Thursday as UNI fell nearly 5% and settled at $6.27. Selling pressure persisted on Friday and Saturday as the price fell 2.24% and 1.78% to $6.02. Despite the overwhelming selling pressure, UNI recovered on Sunday, rising nearly 4% to $6.26. The price is up 3.42% during the ongoing session, trading around $6.47.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.