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Tech stocks lifted Bitcoin, then oil and Meta pulled it back

BTC rose to $84,737 on Wednesday as tech stocks rebounded. On Thursday Meta fell 7% over its AI spending plans, the Nasdaq lost 2.6%, and spot Bitcoin ETFs lost $635.6M. Houthi attacks on Saudi energy sites pushed Brent to $116.72 by Friday.

Over the weekend BTC dropped below $80,000 and about $800M of long positions were liquidated. It traded near $80,900 on Tuesday evening, with futures giving a Fed hold on Wednesday more than a 90% chance. Analysts see $79,000 as support and $82,000 as the first level to win back.

where BTC goes after the Fed

Gainers & Losers

Infinity Ground's AIN more than tripled in a day on October 27 after the project said a designated address had bought back about $3M of tokens, part of its plan to repair the damage from a September price crash. IRYS jumped about 580% in 24 hours on October 23, and about $21M of short positions were liquidated on the way up. Grove Finance's GROVE rose about 20% on October 27 as trading volume grew almost eightfold. PTB went the other way, falling after Binance removed it from the Alpha featured list on October 23.

Grove Finance GROVE

$0.011 ▴ 3.82%

get GROVE

Irys IRYS

$0.023 ▴ 95.41%

get IRYS

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The US finishes its first stablecoin rules

On October 21 the OCC finalized the first rules under the GENIUS Act, covering stablecoin reserves, redemptions, custody and capital. They take effect on January 18, 2027. From then on, every US dollar stablecoin issuer will be licensed and checked against them.

compare stablecoins

Banks move further into crypto

Standard Chartered agreed to buy all of Zodia Custody on October 21, and HSBC launched RedCoin, a Hong Kong dollar stablecoin, for 3.3 million PayMe users on October 23. Ripple got final OCC approval for its trust bank on October 26. At Swell on October 27, BNY added XRP and RLUSD custody, and Robinhood said RLUSD is coming to its app.

will bank deals move XRP?

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