
While Bitcoin remains above its long-term moving averages, analysts state that the 'currency depreciation effect' is behind the rise.
While Bitcoin continues its rise amid global uncertainties and record-breaking bond interest rates, it is stated that there is a 'currency depreciation effect' behind this movement.
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Bitcoin remains above its moving averages amid increasing global uncertainties and record bond interest rates.
While Bitcoin continues to remain above its long-term daily moving averages, uncertainties in the world are also increasing. While the Brent oil price is still above $100, bond interest rates are breaking record after record.
“Impairment transactions…”
It is stated that the "depreciation effect of money", also known as "debasment trade", is behind this movement of Bitcoin, which has performed better than gold, especially with its rise in August.
Capital.com strategist Kyle Rodda, who published his analysis on the subject, drew particular attention to US Treasury Secretary Scott Bessent's intervention in the bond market and used the following statements:
"Such steps strengthened the expectation that the United States would intervene more to support the financial system and bond market. As a result, Bitcoin began to be traded as a hedge against the depreciation of government currencies such as the dollar. Considering that its role as a portfolio diversifier has strengthened, the idea of investors allocating a part of their portfolios to Bitcoin instead of holding only stocks and bonds has regained the idea."

The US government transferred 833.6 BTC ($71 million) in the evening and 40,285 BNB ($32 million) in the morning, sending crypto assets totaling over $103 million to Coinbase Prime and an unknown address. These movements pushed Bitcoin below $84,000, leading to records in leveraged transactions.

After Bitcoin started its rise with 90 thousand dollars in August 2024 and broke its historical record with 126 thousand dollars in October 2024, it fell to 63 thousand dollars in February 2026. Trump's election and policies affected the prices, there was a crypto treasury company craze in the USA, but there was a major crash on October 10 and geopolitical tensions reduced Bitcoin to 60 thousand dollars in February 2026 and 58 thousand dollars in June.

Bitcoin rose above $86,900 in the first week of October, approaching its highest closing level in the last 8 months. The historical record was broken in October last year and this month is called 'Uptober'.

In the last week, at least 6 crypto and Web3 projects such as Blast, Neon EVM, Router Protocol, Inlock, CoinEx Smart Chain and OneSwap and Shipyard have decided to terminate their activities. Closures often occurred due to financial sustainability issues, failure of revenues to cover operating costs, or the cessation of external financing. Projects like Blast and Router Protocol have given users time to move their assets to the Ethereum mainnet, while CoinEx will keep withdrawal services open until December 22, 2026.

In October 2026, $271 million worth of unlocking was completed in the first two days for altcoins such as SUI, EIGEN, BTW, 2Z and ENA. Additional unlocks worth $618 million are expected for the remainder of the month. With the largest circulating supply rate, 146.7 million tokens will be unlocked in APR on October 23, while the largest opening in dollar terms will occur in HYPE on October 6, worth $333 million.

Standard Chartered analysts predicted that Ethena's ENA token could reach $2 by the end of 2028, thanks to revenue model growth and USDe supply growth.