Rise in the Crypto Market: Bitcoin and DeFi Developments

Signals of Rise in the Crypto Market

In recent weeks, Bitcoin has experienced sharp declines due to global trade tensions and leveraged position liquidations, but this week it gained 4.5%. Following a tumultuous start to October, the cryptocurrency market has started to show signs of recovery despite macroeconomic pressures.

Institutional Investors Optimistic

According to CryptoQuant data, it is noteworthy that institutional investors have maintained an optimistic stance despite record leveraged position liquidations at the beginning of the month. The "whale" group owning between 100-1,000 BTC preferred to accumulate Bitcoin even after the $19 billion liquidations that occurred on Black Friday. The assets of this group increased by 907,000 BTC annually.

Market Dynamics

CryptoQuant analysts emphasized that the increasing accumulation of this group historically aligns with upward price movements. Optimistic investor behavior plays a significant role in determining the market direction. Quinn Thompson, CIO of Lekker Capital, compared the current opportunities for Bitcoin to the Trump victory before 2024.

Key Developments of the Week

• **JPMorgan** plans to accept its clients’ Bitcoin (**BTC**) and Ethereum (**ETH**) assets as collateral.
• The market capitalization of Tether Gold (**XAUT**) reached $2.27 billion, while the market capitalization of PAX Gold (**PAXG**) rose to $1.44 billion.
• Ken Griffin, the founder and CEO of Citadel, announced a 4.5% position in a DeFi Development company focused on accumulating Solana (**SOL**).

Market Performance

APE, which started trading on the PancakeSwap decentralized exchange, provided a 14.6% return by gaining access to liquidity on the BNB network.

The token named VIRTUAL rose by 50.1% with Robinhood listing in the US and whales accumulating on-chain. The increasing interest in AI-focused projects also contributed to the rise in VIRTUAL’s value.

The information contained herein is not investment advice.