Here’s a lowdown of the biggest events in the crypto world last week:
Trump Shot Bitcoin Down After a New All-Time High 📉
After a sweet sprint to over $126K earlier due to the early Uptober pump, the unexpected happened and Bitcoin’s rally hit a wall during the weekend — and yet again, it was Trump’s tariffs.
The US President announced 100% tariffs on Chinese tech imports, a move that instantly shook the global markets, and nearly $19 billion was wiped out of the market before traders could blink. That was one of the biggest single-day dips in months:
- Bitcoin fell by over 8% to around $109K
- Ethereum went down by over 20% to $3,600
- Solana also dipped by over 27% to around $170
According to reports, the tariff shock resulted in massive selloffs not only in digital assets but also in stocks and commodities tied to China. So, what’s next? For starters the market has bounced back slightly since then. Bitcoin had crossed over $113K and Ethereum was back to around $4K at the time of writing.
But the hack is to not let the moment define your moves. The market always rewards the patient, so whenever you’re ready, lock in with your long-term strategy again — or just buy the dip if it fits your plan.
The Suits Are Doubling Down on Crypto 💼
Speaking of long-term plans, a new State Street survey reports that more than half of institutional investors plan to invest double their current digital asset investments by 2028.
The survey, which had over 100 leading asset managers and institutional investors as respondents, found that more than 70% plan to increase their crypto exposure in the next three years, with many identifying tokenized funds, stablecoins, and Bitcoin ETFs (exchange-traded funds) as the preferred investment options.
The finding shows how far crypto has come, as more traditional finance (TradFi) institutions are now embracing digital assets. Top firms, including banks and asset managers, now have what began as cautious experimentation as part of their financial allocation strategies for the coming years.
So, it’s safe to say that the future is bright for Bitcoin and other cryptocurrencies. However, the overall success relies on regulatory clarity progress — especially in the US and Europe.
Disclaimer: This content may cause extreme FOMO (Fear of Missing Out). Side effects of investing include sudden wealth (or, you know, the opposite 😢).
Please do your own research (DYOR) or speak to your financial advisor before making any decisions.
