Cryptocurrency valuations rebounded barely this week as investor appetite for digital assets returned following the recent market crash.
One silver lining to the correction is that the $19 billion liquidation event might be viewed by investors as a buying opportunity, a dynamic that might fuel Bitcoin's (BTC) rise to over $200,000 before the top of the 12 months, in response to Geoff Kendrick, global head of digital asset research at Standard Chartered.
However, a scarcity of inflows from Bitcoin exchange-traded funds (ETFs) within the US continues to limit Bitcoin’s bullish momentum.
Due to a scarcity of investment, Bitcoin is on target to post its worst performance in October since 2013, when it ended the historically bullish month within the red for the last time.
Bitcoin ETF inflows, weekly all-time chart. Source: Sosovalue.com
$19 Billion Market Crash Paves Way for Bitcoin to Rise to $200,000: Standard Chartered
According to Geoff Kendrick, global head of digital assets research at Standard Chartered, Bitcoin should be on target to achieve $200,000 by the top of the 12 months, even after a record $19 billion market unwind and renewed tariff threats from US President Donald Trump.
As Cointelegraph reported on the time, the crypto market saw a record $19 billion liquidation over the weekend of October 10, causing the worth of Bitcoin to fall to a four-month low of $104,000 on Friday.
When the dust settles after the large liquidation event, investors might even see it as a buying opportunity. This dynamic could lead on to a Bitcoin rally to $200,000 by the top of 2025, Kendrick said. Despite the volatility, he remained confident that Bitcoin will recuperate when markets stabilize.
“My official forecast is $200,000 by the top of the 12 months,” he told Cointelegraph during an exclusive interview on the European Blockchain Convention 2025 in Barcelona.
Despite the “Trump noise around tariffs,” Kendrick said that in a bear case, he still expects prices to rise “well above $150,000” by the top of the 12 months, assuming the Federal Reserve continues to chop rates of interest to satisfy market expectations.
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Hong Kong approves its first spot Solana ETF before the US
Hong Kong has approved its first spot Solana ETF, making it the third spot crypto ETF approved by town after Bitcoin and Ethereum.
According to a report within the Hong Kong Economic Times, the Hong Kong Securities and Futures Commission (SFC) on Wednesday gave approval for the China Asset Management (Hong Kong) Solana ETF to be listed on the Hong Kong Stock Exchange.
The product will include Chinese Yuan counters and US Dollar counters, meaning it may be traded and transacted in each currencies. Each trading unit consists of 100 shares, with a minimum investment of around $100. The fund is anticipated to make its debut on Monday.
The ETF's virtual asset trading platform might be operated by OSL Exchange, while OSL Digital Securities will act as a sub-custodian. ChinaAMC has set a management fee of 0.99%, with custody and administration fees capped at 1% of the Sub-Fund's Net Asset Value, leading to an estimated annual expense ratio of 1.99%.
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Aave DAO proposes a $50 million annual token buyback using DeFi revenue
Aave's Decentralized Autonomous Organization (DAO) has unveiled a proposal to create a long-term, protocol-funded buyback program that may use as much as $50 million in annual revenue to purchase back Aave tokens.
The proposal, presented on Wednesday by the Aave Chan Initiative (ACI), goals to make buybacks a everlasting a part of Aave's tokenomics. Under the plan, the Aave Finance Committee (AFC) and TokenLogic would lead execution and repurchase between $250,000 and $1.75 million value of Aave (AAVE) tokens weekly, depending on market conditions, liquidity and volatility.
If approved, the proposal will undergo the Aave Request for Comment (ARFC) phase for community feedback, followed by a snapshot vote and final confirmation of on-chain governance. Unlike short-term market interventions, the proposal goals to institutionalize buybacks as a recurring mechanism and make the DAO an lively capital allocator.
The ACI said this system builds on the success of other buyback initiatives. In April, Aave rose 13% because the community agreed to a $4 million token buyback.
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China's budget AIs beat ChatGPT and Grok in crypto trading
Chinese artificial intelligence models are outperforming their US counterparts in cryptocurrency trading as competition between leading generative AI chatbots increases, in response to data from blockchain analytics platform CoinGlass.
AI chatbots DeepSeek and Qwen3 Max, each developed in China, led the continued crypto trading experiment on Wednesday, with the previous becoming the one AI model to provide a positive unrealized return of 9.1%.
According to blockchain data platform CoinGlass, Qwen3, an AI model developed by Alibaba Cloud, ranked second with an unrealized lack of 0.5%, followed by Grok with an unrealized lack of 1.24%.
OpenAI's ChatGPT-5 slipped to last place with a lack of greater than 66%, leaving its original account value of $10,000 all the way down to just $3,453 on the time of writing.
The results have surprised crypto traders as DeepSeek was developed at a fraction of the associated fee of its US competitors.
DeepSeek's success was based on betting on the rise of the crypto market. The model took leveraged long positions in major cryptocurrencies corresponding to Bitcoin, Ether (ETH), Solana (SOL), BNB (BNB), Dogecoin (DOGE), and XRP (XRP).
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BNB wins “Uptober” in Binance market crash investigation
October is historically one in every of Bitcoin's best performing months, but this 12 months BNB is stealing the show.
“Uptober” – coined to explain Bitcoin’s typically bullish October months – began this 12 months on a high note just as the federal government shutdown within the US had just begun. Now that Washington's funding blockade has continued for greater than three weeks, that optimism has faded amid trade tensions and the aftermath of a historic liquidation event.
Meanwhile, BNB, the native token of Binance’s BNB Chain, has hit latest all-time highs twice this month. The network is experiencing a surge in memecoin trading and is directly competing with Hyperliquid within the decentralized perpetual market through its Aster platform.
Although BNB has since retreated from its peak, it remains to be up about 6% for the reason that starting of October. Still, these gains come against the backdrop of accelerating scrutiny over Binance's alleged role within the recent market crash.
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Overview of the DeFi market
Most of the highest 100 cryptocurrencies by market capitalization ended the week within the green, in response to data from Cointelegraph Markets Pro and TradingView.
Privacy coin Zcash (ZEC) rose over 33% because the week's biggest gainer, followed by memecoin launchpad platform Pump.fun's token (PUMP), which gained 26% last week.
Thank you for reading our roundup of essentially the most influential DeFi developments this week. Join us next Friday for more stories, insights and knowledge on this dynamically evolving field.
