- Bitcoin fell to $82,356.99 today, though still down 3.2% for the week.
- The US government moved $1.48 billion in BTC to Coinbase Prime in 3 days.
- OpenAI tells investors revenue nears $50 billion, not $70 billion reported.
The global crypto market cap fell 2.1% to $2.87 trillion over the past 24 hours. Bitcoin traded at $82,356.99, down 1.1% on the day, and 3.2% over the past week, after briefly dipping below $81,000.
Ethereum changed hands at $2,491.67, down 3.4% in 24 hours. BNB fell 4.2% to $740.30. XRP dropped 2.2% to $1.39, down 7.0% over the week. Solana fell 4.9% to $110.35, down 7.7% over seven days.
Trending Searches
Starknet led trending searches, up 33.3% to $0.065493. Quantus followed, up 14.7% to $149.91, and Pearl dropped 7.5% to $1.28. Among top gainers, Hood Sword Inu surged 346.3% to $0.049043, Origin Token climbed 85.2% to $0.04388, and Janction rose 48.5% to $0.002354.
US Government Wallet Moves Accelerate Further
The US government deposited 17,733 BTC worth $1.48 billion and 750 WBTC worth $62 million into Coinbase Prime over three days, according to Lookonchain, with BTC’s price falling 6.9% during that window.
A separate address labeled “US Government: Bitfinex Hacker Confiscated Funds” transferred out 12,267 BTC worth roughly $1.01 billion on October 8, with 6,000 BTC moved to a new address and the remainder temporarily held elsewhere, according to Arkham monitoring.
OpenAI Revenue Figures Diverge
The Financial Times reported that OpenAI recently told investors its annualized revenue as of the end of September was approaching $50 billion, roughly $20 billion below the $70 billion figure Axios had cited sources attributing to the company days earlier.
Three OpenAI safety researchers who were fired last week, Mikita Balesni, Tomek Korbak, and Jasmine Wang, published an open letter stating they were dismissed for putting safety above the company’s short-term commercial interests. OpenAI said an internal investigation found the three handled sensitive information outside established processes.
Crypto Market Selloff and Liquidations
Crypto sectors fell broadly, with the AI token sector down 5.09% and Bitcoin briefly dipping below $81,000. CoinGlass recorded over $450 million in liquidations within a single hour on October 8, with longs accounting for roughly 93.7% of the total.
Machi Big Brother cut 16,600 ETH in long positions within an hour, realizing a loss of about $2.63 million, before his remaining position’s account value fell below $1 million again the following week after an additional $8.44 million loss.
Quantum and Post-Quantum Security Developments
StarkWare CEO Eli Ben-Sasson proposed that Starknet transition from an Ethereum Layer 2 to an independent Layer 1 network to achieve quantum resistance by 2027, ahead of Ethereum’s targeted 2029 timeline, citing AI-accelerated cryptographic risk alongside quantum computing threats.
Glassnode data showed that Bitcoin exposed to address-reuse risk rose from 3.79 million to 4.33 million BTC over the past year, now representing 21.5% of circulating supply.
Market Forecasts and Institutional Flows
TD Cowen raised its year-end 2026 Bitcoin price forecast to approximately $109,000, up from a prior $97,500 estimate, while projecting $280,000 by 2029 and maintaining a Buy rating on Strategy. J
JPMorgan analysts estimated roughly $50 billion has flowed into digital assets since the start of 2026, an annualized pace of $66 billion, with ETF inflows turning net positive for the year since August and public company treasuries serving as the main buyers while miners net sold about $1.8 billion.
Regulatory Developments
The NFL filed an amicus brief with the US Supreme Court supporting New Jersey regulators against Kalshi, arguing sports prediction contracts constitute gambling rather than federally regulated swaps and should fall under state jurisdiction.
The French National Assembly’s Finance Committee advanced several crypto tax amendments for 2027, including a stablecoin exchange tax and crypto asset exit tax, while rejecting a wealth tax extension to crypto holdings.
Senator Richard Blumenthal sent a letter to Cantor Fitzgerald CEO Brandon Lutnick investigating the firm’s relationship with Tether and its sanctions compliance measures.
Related: U.S. Government Moves $1 Billion in Bitcoin From Bitfinex Hack Wallet
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