The second-largest cryptocurrency by market capitalization is showing signs of renewed investor optimism. Yet whether it can surpass $5,000 will depend on guarding the sacred numbers-the technical and the psychological-like a clerk guarding his stamps from a careless customer. If the gods of charts frown, the dream of five thousand may recede like a footman at the door shouting “Next!”
Instead, it mirrors the patient pattern of accumulation that shows up in old cycles-hands steady, pockets full of belief, money chasing something larger than a rumor.
The digital asset economy has done what it always does-kick upward like a toddler who’s just had a sugar rush. Bulls appear to be raring to keep the ride going, but what’s really more intriguing than the price is how fickle our dear Fear and Greed Index is feeling today. It’s 59 out of 100, technically a “neutral” zone, but let’s be honest, it’s the sort of neutrality that’s already eyeing up a cocktail at the bar. Neutral, my foot.
The biggest flutter came from SBI Ripple Asia, a curious marriage of Ripple and SBI Holdings-two nimble beetles in the same striped waistcoat. They’ve signed a deal with Tobu Top Tours, one of Japan’s giant travelers, the kind of company that packs buses with blissful tourists. Together, they’ll conjure a new payment and rewards platform on the XRP Ledger (XRPL), stitching digital tokens to NFTs and everyday payments like butter on toast. 🚀
At the index level, Bitcoin flirted with $125,725 this week before settling at $123,142, and the derivatives crowd was like, “Hold my latte.” Aggregate futures open interest (OI) figures from coinglass.com hit an all-time high near $91.59 billion, up 2.04% on the day. Translation: traders are throwing caution to the wind and doubling down on their bets. The casino is open 24/7, and the chips are stacked higher than a Jenga tower after three mimosas 🍾.
As the battle for dominance in the crypto world intensifies, market players are considering factors like speed and the thrill of transaction finality. Yes, the excitement is palpable. 🎉
However, beware! Wise men (and even wiser analysts) warn of a treacherous resistance near $124,000. For when Bitcoin stumbled at this height before, it suffered a rather ignominious fall of 13%! A most unsettling prospect, I assure you.
On Friday, October 3, Coinbase announced the expansion of its partnership with Samsung. This renewed collaboration will grant Galaxy smartphone users in the United States direct access to crypto through its Coinbase One program. Yes, a membership plan that promises zero trading fees and premium perks, because apparently the only thing missing from your life is one more tier you’ll ignore after six months.
This is the second-best week since these ETFs first wobbled onto the stage, only edged out by the record $3.38 billion set in late November 2024, according to data from SoSoValue. It’s Uptober all right-cue the confetti and the suspiciously musical cash register. 🪙🎺
XRP’s eyeing a 15% nosedive to $2.60 if it can’t hold onto $3 – because apparently, climbing out of a hole is too much work 😏.
