American Rare Earths Limited (ARR:AU) has announced Successful Completion-Impurity Removal Neutralization Tests
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Locksley Resources (LKY:AU) has announced Locksley Qualifies for Trading on U.S. OTCQX Market
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Green Technology Metals (GT1:AU) has announced Successful A$4.5m Two Tranche Placement
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Thousands of U.S.-bound packages shipped by UPS are trapped at hubs across the country, unable to clear the maze of new customs requirements imposed by the Trump administration.
As packages flagged for customs issues pile up in UPS warehouses, the company told NBC News it has begun “disposing of” some shipments.
Frustrated UPS customers describe waiting for weeks and trying to make sense of scores of conflicting tracking updates from the world’s largest courier.
“I’ve never seen anything like this before,” Matthew Wasserbach, brokerage manager of Express Customs Clearance, said of the UPS backlog. “It’s totally unprecedented.”
Wasserbach’s New York City-based shipping services firm helps clients move shipments through customs. He said the company has seen a spike in inquiries for help with UPS customs clearance.
More than two dozen people who are waiting for their UPS packages explained the circumstances of their shipments to NBC News.
They described shipments of tea, telescopes, luxury glassware, musical instruments and more — some worth tens of thousands of dollars — all in limbo or perhaps gone.
Others have deep sentimental value: notebooks, diplomas and even engagement rings.
The frustration has exploded online, with customers sharing horror stories on Reddit of missing skin care products, art and collectibles.
They are confused and angry, and they want answers.
“It’s almost impossible to get through to anybody to figure out what is happening,” said Ashley Freberg, who said she is missing several boxes she shipped via UPS from England in September.
“Are my packages actually being destroyed or not?”
Freberg’s boxes of journals, records and books were shipped on Sept. 18, according to tracking documents she shared with NBC News.
Over the next two weeks, she received two separate notifications from UPS that her personal mementos had not cleared customs and as a result had been “disposed of” by UPS.
Then, on Oct. 1, a UPS tracking update appeared for her packages, saying they were on the way. The tracking updates Freberg showed NBC News for that shipment revealed it was the most recent update she had received.
While sentimental value is impossible to measure, other customers fear they will not be able to recover financially if their goods were destroyed.
Tea importer Lauren Purvis of Portland, Oregon, said five shipments from Japan, mostly containing matcha green tea and collectively worth more than $127,000, were all sent via UPS over the last few weeks and arrived at UPS’ international package processing hub in Louisville, Kentucky. Purvis has yet to receive any of the shipments, only a flurry of conflicting tracking updates from UPS.
A series of notifications for one shipment, which she shared with NBC News, said that the shipment had not cleared customs and that UPS had disposed of it.
But a subsequent tracking update said the shipment had cleared customs and was on the way.
“We know how to properly document and pay for our packages,” Purvis said. “There should be zero reason that a properly documented and paid-for package would be set to be disposed of.”
At least a half-dozen people described an emotional seesaw they were put through by weeks of contradictory UPS tracking updates about their shipments. The updates, they said, compounded the stress of not knowing what had really happened to their possessions.
AJ, a Boston man who asked that NBC News use only his initials to protect his privacy, said he shipped a package from Japan via UPS on Sept. 12 including Japanese language books, a pillow and a backpack.
After it sat in Louisville for nearly two weeks, AJ got a tracking update on Sept. 26, one of several that he shared with NBC News. “We’re sorry, your package did not clear customs and has been removed from the UPS network. Per customs guidelines, it has been destroyed. Please contact the sender for more information,” it read.
Three days later, on Sept. 29, he received another, and this one read: “On the Way. Import Scan, Louisville, KY, United States.” For a moment, it appeared as though AJ’s shipment might have been found.
But less than 24 hours after his hopes were raised, another tracking update arrived: “We’re sorry,” it began. It was the same notice that his package had “been destroyed” that he had received on the 26th.
Two minutes later, he got his final update: “Unable to Deliver. Package cannot clear due to customs delay or missing info. Attempt to contact sender made. Package has been disposed of.”
International shipping was thrown into chaos after the long-standing “de minimis” tariff exemption for low-value packages ended on Aug. 29.
Packages with values of $800 or less, which were previously allowed to enter the United States duty-free, are now subject to a range of tariffs and fees.
They include hundreds of country-specific rates, or President Donald Trump’s so-called reciprocal tariffs, as well as new levies on certain products and materials.
The result is that international shipping to the United States today is far more complex and costly than it was even two months ago.
The sweeping changes have caught private individuals and veteran exporters alike in a customs conundrum.
It is difficult to know the exact number of the packages that are stuck in UPS customs purgatory. Shipping companies guard their delivery data closely.
UPS reported to investors that in 2023, its international service delivered around 3.2 million packages per day.
This week, the company told NBC News that it is clearing more than 90% of the packages it handles through customs on the first day.
The rest of the packages, or less than 10%, require more time to clear customs and need to be held until they do. That could easily mean that thousands of UPS packages every day are not clearing customs on their first try.
In a statement to NBC News, UPS said it is doing its best to get all packages to their destinations while abiding by the new customs requirements.
“Because of changes to U.S. import regulations, we are seeing many packages that are unable to clear customs due to missing or incomplete information about the shipment required for customs clearance,” it said.
UPS said it makes several attempts to get any missing information and clear delayed shipments, contacting shippers three times.
“In cases where we cannot obtain the necessary information to clear the package, there are two options,” it said.
“First, the package can be returned to the original shipper at their expense. Second, if the customer does not respond and the package cannot be cleared for delivery, disposing of the shipment is in compliance with U.S. customs regulations. We continue to work to bridge the gap of understanding tied to the new requirements and, as always, remain committed to serving our customers.”
NBC News asked UPS precisely what it does with packages when it tells customers their shipments have been unable to clear customs and have been “disposed of.” It would not say.
On Sept. 27, a shipper in Stockholm received a formal notification from UPS that two packages her glassware company sent to the United States — which failed to clear customs — would be destroyed.
“We are sorry, but due to these circumstances and the perishable nature of the contents, we are now required to proceed with destruction of the shipment in accordance with regulatory guidelines,” UPS told Anni Cernea in an email she shared with NBC News.
The email continued, “There is no need to contact our call center for further information or to attempt to clear this shipment.”
Cernea said, “It’s just outrageous that they can dispose of products like this without approval from either the sender or recipient.”
From now on, Cernea said, she plans to ship her products via UPS rival FedEx.
Cernea’s decision to switch carriers hints at the worst-case scenario for UPS, which is that people could abandon the company. It is a potential crisis for the roughly $70 billion company.
The company’s stock price is already down more than 30% this year, which analysts attribute to a mix of tariffs, competition and shifting shopping habits.
As she awaits her missing journals and diplomas from England, Freberg is looking ahead to the biggest shipping months of the year.
“I can’t even imagine how bad the holidays are going to be, because that’s a time where loads of people are shipping stuff overseas,” she said.
“If it doesn’t get solved soon, I can only see it becoming an even bigger issue.”
Isabella Morales contributed reporting.
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Canadian miner Silver Storm Mining (TSXV:SVRS,OTCQB:SVRSF) has signed a US$7 million offtake prepayment deal with Samsung Construction and Trading (HKEX:028260) and two of its subsidiaries to help restart production at its La Parrilla silver mine complex in Durango, Mexico.
Under the agreement announced Friday (October 10), Samsung and subsidiaries will provide the financing through a secured prepaid facility over 18 months.
Samsung will receive 100 percent of the lead-silver and zinc concentrates produced at La Parrilla over a two-year period under the offtake agreement. The financing is secured through a corporate guarantee, a share pledge, and first-ranking security on La Parrilla’s assets.
Silver Storm said the facility carries an interest rate of the one-month Secured Overnight Financing Rate (SOFR) plus 4.75 percent, with a six-month grace period for interest and capital repayments.
Repayments will then be made in equal monthly installments over the following 12 months, potentially offset through concentrate sales.
“The company has sufficient liquidity to complete the planned restart and rehabilitation activities at La Parrilla,” said Silver Storm President and CEO Greg McKenzie. “Samsung’s involvement as a guaranteed purchaser for the concentrates reflects the confidence of a leading industry participant in our path forward and provides Silver Storm with another partner that is committed to bringing La Parrilla back into operation.”
The company added that the proceeds will go toward mill rehabilitation and upgrades, underground development, and working capital for the restart phase.
Once a prolific producer of silver and base metals, the La Parrilla complex includes a 2,000-metric-ton-per-day mill and several underground mines.
The company expects operations to resume in the first half of 2026.
The project’s revival is seen as a key milestone for Silver Storm, which holds a 100 percent interest in La Parrilla and the San Diego Project, another large undeveloped silver asset in Durango.
Samsung’s participation, meanwhile, underscores the continued interest of major industrial players in securing critical mineral supply chains.
Offtake financing deals of this nature provide both upfront capital for miners and stable sourcing arrangements for buyers, which is an increasingly common structure in metals markets amid rising demand for silver and other transition-linked minerals.
In recent days the price of silver has reached record highs of US$51 per ounce, alongside sister metal gold which surpassed the US$4,000 level. As the precious metals suite continues to trend higher more sidelined and shuttered projects could be brought online.
Shares of Silver Storm rose 3.30 percent to C$0.235, following the Friday announcement.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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Locksley Resources, Ltd. (ASX: LKY,OTC:LKYRF; OTCQX: LKYRYF) announced that recent structural mapping has significantly expanded the scale of its target mineralized corridor at the Desert Antimony Mine (DAM) Prospect. A new parallel structural target was also identified in this mapping, enhancing the potential for a larger mineralized system across multiple zones. Locksley believes this expanded target enhances Mojave’s position as a strategic U.S. critical minerals hub, aligned with accelerating domestic supply-chain initiatives. The structural geology mapping was completed late in the third calendar quarter of 2025. Additional details can be found here: https:cdn-api.markitdigital.comapiman-gatewayASXasx-research1.0file2924-03006166-6A1289419&v=undefined .
‘This second structural mapping program at our Mojave Project has markedly advanced our geological understanding of the project and confirmed the substantial exploration potential of this critical district,’ said Kerrie Matthews , Locksley Resources CEO. ‘The sixfold expansion of the Desert Antimony Mine (DAM) target horizon has fundamentally changed the scale of the opportunity, demonstrating the potential for a much larger mineralized system than originally contemplated. These outstanding results strongly validate our rapid exploration and development strategy.’
In addition to the expansion of Locksley’s antimony target, the mapping also identified several other key opportunities:
- Regional mapping identified lamprophyre dykes, highlighting potential for additional critical mineral occurrences including carbonatites.
- Mojave emerging as a district-scale critical minerals hub, strategically aligned with accelerating U.S. onshoring policies.
- High grade silver assays up to 216 g/t Ag returned from Hendricks Prospect, alongside anomalous Zn, Pb and Cu, including a broader polymetallic system.
The company said that a third phase structural mapping program is expected to commence next month to continue building geological understanding of the project as well as identify new targets.
Locksley Resources ( https://www.locksleyresources.com.au ) is an Australian-based explorer focused on critical minerals and base metals, with assets in both the U.S. and Australia . The company is actively advancing its U.S. Asset, the Mojave Project, in California , targeting rare earths elements (REE) and antimony (The Desert Antimony Mine). The company also has a strategic collaboration with Rice University to develop DeepSolv for domestic processing of North American antimony. This agreement is a cornerstone of Locksley’s U.S. Critical Minerals and Energy Resilience Strategy to accelerate ‘mine-to-market’ deployment of antimony in the U.S.
Contact: Beverly Jedynak , beverly.jedynak@viriathus.com , 312-943-1123; 773-350-5793 (cell)
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SOURCE Locksley Resources
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China has sharply expanded its export controls on rare earth elements and related technologies, tightening its grip on a strategically vital sector just weeks before a possible meeting between US President Donald Trump and Chinese President Xi Jinping in South Korea.
The Ministry of Commerce announced Thursday (October 9) that five additional rare earth elements: holmium, erbium, thulium, europium, and ytterbium, along with dozens of refining technologies and pieces of equipment, have been added to its export control list.
Foreign companies that produce rare earth materials or magnets using Chinese equipment or materials will now require export licenses from Beijing, even if no Chinese entity is directly involved in the transaction.
Applications linked to defense industries or advanced semiconductor production, such as 14-nanometer chips, memory chips with 256 layers or more, or artificial intelligence with military applications, will face heightened scrutiny or outright denial.
Rare earth elements are essential to manufacturing electric vehicles, wind turbines, smartphones, and defense systems, including fighter jet engines and radar. China accounts for about 70 percent of global production and over 90 percent of processing capacity, giving it a near-monopoly over the supply chain.
The new measures take effect in stages: restrictions on rare earth exports and processing technologies begin November 8, while the rules governing products made with Chinese inputs will come into force on December 1.
The move also tightens Beijing’s control over Chinese nationals, prohibiting them from engaging in overseas rare earth mining, magnet manufacturing, or technical consulting without official approval.
Meanwhile, companies outside China are emphasizing their independence from Chinese materials and technology.
Energy Fuels (NYSEAMERICAN:UUUU,TSX:EFR), which operates a uranium and rare earths facility in Utah, said that it is ramping up domestic production to counter supply risks. Meanwhile, NioCorp NASDAQ:NB), which is developing a rare earths mine in Nebraska, said the move reflects China’s increasing militarization of the sector.
“It’s clear that the People’s Liberation Army is increasingly calling the shots on rare earth policy in China. That means even more difficult times both for the Pentagon and for a wide range of commercial manufacturers,” the company told Reuters.
Ucore Rare Metals (TSXV:UCU,OTCQX:UURAF), a Canada-based developer of rare earth separation technology, said its Louisiana Strategic Metals Complex (LA-SMC) will remain unaffected.
“Today’s expansion of Chinese export controls underscores why Ucore built its plan around North American and allied supply chains from day one,” said Ucore CEO Pat Ryan in a recent statement. “Our RapidSX refining technology not only produces the same rare earth products, at the same quality, as legacy solvent extraction, but does so with faster throughput in a much reduced floorspace.”
Ucore said its equipment sourcing strategy relies entirely on North American suppliers and is protected under the US Defense Priorities and Allocations System (DPAS), which prioritizes key national defense projects to ensure supply chain resilience.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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Robin Brundle joins Prime Minister on first major trade mission to India
Mr Brundle joins 125-strong delegation of leading business representatives, academic and cultural leaders, and government ministers on UK’s largest ever trade mission to India
Technology Minerals Plc (LSE: TM1), the first UK listed company focused on creating a sustainable circular economy for battery metals, is pleased to announce that its Chairman, Robin Brundle, has joined the UK Prime Minister Keir Starmer, and a 125-strong business delegation on the Government’s trade mission to India this week.
The largest ever UK Government trade mission to India brings together leading CEOs, entrepreneurs, academic and cultural institutions. The mission aims to strengthen bilateral trade and investment, while advancing discussions on the UK’s resilience within the critical mineral strategy, a vital step toward sustainable industrial growth.
Mr Brundle is a respected business leader and trusted contributor to government policy on battery strategy via parliamentary committees in both the House of Lords and the House of Commons. His participation in the delegation reflects a commitment to advancing circular economy solutions and building international partnerships that contribute to long-term industrial and environmental sustainability.
Recyclus Group Ltd (‘Recyclus’), the Company’s 48.35% owned battery recycling business, has previously been selected to join the UK and Indian Governments’ Innovating for Transport and Energy (‘ITES’) scheme to achieve net zero, and Mr Brundle has extensive knowledge of the commercial opportunities presented by India’s burgeoning lithium-ion electric battery sector.
The visit seeks to build upon the momentum from the landmark UK-India trade deal signed in July 2025, which is projected to increase UK GDP by £4.8 billion per annum. Other companies represented in the delegation include major household names such as Rolls Royce, British Airways and the London Stock Exchange.
Robin Brundle, Executive Chairman of Technology Minerals and Recyclus Group and Co-Founder of Recyclus Group, said: ‘I am honoured to play a role on this industrial and commercial trade mission, which represents a valuable opportunity to engage directly with Indian and UK stakeholders on the critical minerals and sustainable technology agenda. India is one of the fastest growing economies globally, and through Recyclus’ existing links with the UK and Indian Government’s Innovating for Transport and Energy scheme, we are well placed to support the region’s transition towards electrification.’
This is an industrial and commercial mission, not a political one. Recyclus remains proudly politically agnostic as it continues to drive innovation and collaboration in the circular economy.
Enquiries
Technology Minerals Plc
Technology Minerals is developing the UK’s first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on raw material exploration required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. Further information on Technology Minerals is available at www.technologyminerals.co.uk.
Recyclus Group Ltd
Since July 2023, Recyclus Group has operated a national, industrial-scale lithium-ion battery recycling service that supports the UK’s transition to carbon neutrality. The Group’s commitment to cradle-to-cradle battery recycling reduces reliance on the extraction of virgin materials, promotes a circular economy for these metals within the UK, supports the advancement of next-generation recycling technologies, and aligns with the UK’s resilience and critical minerals strategy.
With strategic backing from Technology Minerals, Recyclus plays a central role in lithium-ion battery recycling and contributes significantly to the circular economy for battery metals.
Further information on Recyclus Group is available at https://www.recyclusgroup.com/
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This week, the technology sector remained the dominant force shaping overall market trends in the US, despite the ongoing complexity of macroeconomic and geopolitical conditions.
The partial US government shutdown continued to delay key economic reports, creating a data vacuum that heightened reliance on soft data like consumer sentiment surveys. Notably, the University of Michigan’s Consumer Sentiment Index held steady at a subdued 55, reflecting persistent concerns about high prices and a challenging labor market.
Meanwhile, Canada reported a surprising gain of 60,400 jobs in September, with employment increases concentrated in full-time positions and manufacturing. The unemployment rate held steady at 7.1 percent, defying expectations and signaling a cautious stabilization after recent job losses.
Investor appetite for AI and related innovation remained high, pushing the Nasdaq Composite (INDEXNASDAQ:.IXIC) and S&P 500 (INDEXSP:.INX) to record or near-record levels midweek. However, ongoing trade frictions between the US and China continue posing risks to semiconductor supply chains and international tech trade flows.
On Friday (October 10), China introduced additional export restrictions on rare earth metals and related refining technologies, expanding controls to five more elements critical for electronics, defense and high-tech industries. US President Donald Trump responded by threatening to escalate tariffs on Chinese imports and warned of the potential cancellation of his upcoming meeting with President Xi Jinping at APEC in South Korea.
The news sent major stock indexes lower, with the S&P 500 seeing its largest decline since tariffs were first announced in April and the Nasdaq Composite losing 3.56 percent. The Philadelphia SE Semiconductor Index led losses, pulling back 6.32 percent.
After a nearly three-year rally fueled by enthusiasm for AI, concerns among analysts and investors about elevated valuations and concentrated exposure in AI-related companies continue to emerge.
The Bank of England’s Financial Policy Committee warned of an increased risk of market correction, particularly in AI-focused tech firms, due to stretched valuations. They noted high market concentration in the S&P 500’s top five companies, many being AI-centric. Disappointing AI adoption or increased competition could trigger a downturn by reassessing high earnings expectations. Bottlenecks in AI advancements also pose valuation risks.
Similarly, IMF Managing Director Kristalina Georgieva warned that AI-fueled global stock prices are overvalued and vulnerable to a sudden correction. She cited weakening job creation and US tariffs as “troubling signs” that could lead to instability and dampen global growth.
Analysts from JPMorgan Chase & Co. (NYSE:JPM) also wrote in a Monday (October 6) note that AI-related debt has reached US$1.2 trillion, making it the largest segment in the investment-grade market. AI companies now represent 14 percent of the high-grade market, exceeding US banks. However, this debt is primarily in investment-grade bonds from companies with strong balance sheets,
This complex interplay of cautious optimism underscores the evolving narratives dominating the tech market.
Three tech stocks that moved markets this week
1. Advanced Micro Devices (NASDAQ:AMD)
AMD’s stock opened over 31 percent higher on Monday after announcing a multi-year deal to supply up to 6 gigawatts of AI chips to OpenAI, starting with its MI450 series in the second half of 2026.
The company extended its gains on Tuesday (October 7) after Jefferies upgraded the stock rating to “buy” as other brokerages hiked their price targets. The news helped temper losses seen throughout the tech sector as trade tensions escalated on Friday.
The partnership grants OpenAI warrants to acquire up to 160 million shares of AMD, representing around 10 percent ownership upon achieving deployment milestones. This deal positions AMD as a major AI hardware supplier and represents a challenge to Nvidia’s dominance in the sector.
2. Intel (NASDAQ:INTC)
Intel shares jumped as much as 3.05 percent on Friday after the company unveiled its Panther Lake architecture, the first PC processor built on its advanced 18A semiconductor manufacturing process, with high-volume production beginning later this year at its Fab 52 facility in Arizona.
Panther Lake is set to significantly enhance power efficiency and performance, delivering an anticipated 50 percent increase in CPU and GPU capabilities compared to earlier generations. This chip is designed for premium laptops and is central to Intel’s plan to re-establish its leadership in semiconductor manufacturing within the US.
Intel also previewed its first 18A-based server processor, Clearwater Forest, slated for release in the first half of 2026. Panther Lake is scheduled for commercial availability in early 2026, coinciding with major consumer electronics shows.
3. Tesla (NASDAQ:TSLA)
Tesla released the long-awaited lower-priced versions of the Model Y and Model 3 on Tuesday, with the Model Y Standard starting at US$39,990.
After an initial rally on Monday following a weekend teaser of the announcement, shares fell by as much as 4.57 percent after an underwhelming reaction to modest price cuts and the vehicles’ lack of key features present in the pricier models.
The company also reportedly paused large-scale production of its humanoid robot Optimus due to technical difficulties and faced a new preliminary safety investigation by the NHTSA into its Full Self-Driving system, covering nearly 2.9 million vehicles amid reports of traffic law violations.
Company announcements helped Intel and AMD weather sector-wide losses on Friday
Chart courtesy of Google Finance
ETF performance
This week, the iShares Semiconductor ETF (NASDAQ:SOXX) only declined by about 6.27 percent, while the Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) pulled back by approximately 6.49 percent.
For its part, the VanEck Semiconductor ETF (NASDAQ:SMH) only lost 5.86 percent.
These losses occurred against a backdrop of heightening trade tensions between tech’s two largest markets.
Other tech market news
Tech news to watch next week
Next week, investors will be closely monitoring a slate of important earnings reports from leading financial and technology companies, including JPMorgan Chase, Bank of America Corp (NYSE:BAC), Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), IBM, Intel and Tesla.
Additionally, the US government’s shutdown resolution or extension will affect the release of vital economic data, influencing market sentiment and investment strategies.
On the policy front, investors should watch for Federal Reserve communications for clues on interest rate directions, as well as progress in US-China trade negotiations, which will undoubtedly define the near-term trajectory of the tech market.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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Here’s a quick recap of the crypto landscape for Friday (October 10) as of 9:00 a.m. UTC.
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ether price update
Bitcoin (BTC) was priced at US$121,578, down by 1.6 percent in 24 hours. The cryptocurrency’s lowest valuation of the day was US$119,967, and its highest was US$123,548.
Bitcoin price performance, October 10, 2025.
Chart via TradingView
Bitcoin may be trading near record highs, but one of its most respected on-chain indicators suggests the rally could still have significant room to run possibly as far as US$180,000.
The Mayer Multiple, a long-term metric that compares Bitcoin’s current price to its 200-week moving average, remains well below levels that have historically marked market tops.
“Bitcoin is at all-time highs and the Mayer Multiple is ice cold,” crypto analyst Frank Fetter wrote on X (formerly Twitter). According to Fetter, Bitcoin would need to climb to around US$180,000 before the indicator flashes “overbought” conditions, implying that the current cycle could still have room to expand.
The indicator’s historical context adds weight to that view. During Bitcoin’s 2017 and 2021 peaks, the Mayer Multiple surged well above 2.4, signaling excessive market exuberance before major corrections followed.
This time, the pattern looks different. The Multiple’s highest level in the current cycle—1.84 in March 2024, when Bitcoin neared US$72,000—never approached prior extremes, according to Glassnode data. Analysts see this moderation as a sign of a more sustainable advance.
Despite these encouraging on-chain signals, not everyone is convinced the path higher will be smooth. Short-term traders remain divided on whether Bitcoin can maintain momentum into the final quarter of the year.
Trader Tony “The Bull” Severino argued that Bitcoin may be entering a decisive 100-day window. Writing on X, Severino pointed to the Bollinger Bands indicator on Bitcoin’s weekly chart, which has tightened to levels not seen before. He noted that Bitcoin’s recent inability to hold above US$126,000, after briefly testing the upper band, could signal a short-term pullback before any sustained breakout.
Ether (ETH) also slid after last week’s rally, but has since recovered some of its losses. It was up by 0.7 percent over 24 hours to US$4,365.58. Ether’s lowest valuation on Friday was US$4,285.77, and its highest was US$4,401.99.
Altcoin price update
- Solana (SOL) was priced at US$222.58, an increase of 1.1 percent over the last 24 hours and its highest valuation of the day. Its lowest valuation on Friday was US$217.57.
- XRP was trading for US$2.83, trading flat over the last 24 hours. Its lowest valuation of the day was US$2.78, and its highest was US$2.84.
Derivatives trends
The crypto derivatives market saw heavy liquidations over the past 24 hours, totaling roughly US$674 million, according to Coinglass data. Long positions accounted for US$505 million of that amount, while short positions made up US$169 million, marking one of October’s sharpest liquidation waves.
Among major assets, Bitcoin long liquidations reached US$116 million, compared to US$68.22 million in shorts, indicating that overleveraged bullish traders bore the brunt of the latest downturn. Ether long positions were liquidated for US$146 million, against US$34.54 million in shorts, reflecting a similar shakeout of optimistic bets amid heightened volatility.
Despite the sell-off, futures open interest for Bitcoin rose 0.23 percent in the last four hours to US$90.19 billion, suggesting that traders are gradually re-entering positions or maintaining leverage at elevated levels.
Ether futures open interest also ticked up 0.22 percent to US$59.53 billion, showing that market participants remain engaged even after widespread liquidations.
Bitcoin’s relative strength index (RSI) at 72.15 indicates that the asset remains in overbought territory, potentially signaling near-term price swings or corrective moves. Still, the market’s resilience near the US$120,000 level points to continued speculative interest.
Today’s crypto news to know
XRP, DOGE, SOL slip as US$2.7 billion flows into Bitcoin ETFs
Major altcoins faced losses Friday as traders took profits from Bitcoin’s record-breaking rally, even as spot ETF demand remained strong.
Bitcoin briefly dipped to around US$120,000 overnight before stabilizing near US$122,000, while Ether erased its weekly gains with a 2.4 percent drop.
Solana, XRP, Dogecoin, and Cardano each slid up to 3 percent, according to CoinDesk data. Despite the retreat, US-listed Bitcoin ETFs drew US$2.72 billion in inflows this week, highlighting resilient institutional appetite.
The ETF surge underscores Bitcoin’s growing role as a “digital safe-haven,” especially as gold surged above Us$4,000 an ounce. However, a possible pullback to the US$107,000–US$115,000 range could be imminent ahead of the Federal Reserve’s October 29 policy meeting.
EU dismisses ECB’s call for new stablecoin rules
The European Commission said Friday that existing crypto regulations under MiCA are adequate to handle stablecoin risks, pushing back on calls from the European Central Bank for stricter oversight.
According to a Reuters report, the ECB had urged Brussels to introduce new safeguards against “multi-issuance” models, where stablecoins minted outside the EU could be treated as interchangeable with those issued within.
Industry groups, including members like Circle, asked the Commission to formally clarify that multi-issuance is allowed under current rules.
In a statement to Reuters, the Commission said MiCA already provides a “robust and proportionate framework” and that further guidance will be published soon.
The ECB’s main concern is that redemptions from non-EU tokens could drain reserves inside the bloc, posing systemic risks. Stablecoin issuers countered that their reserve structures already mitigate such threats.
Bitcoin ETFs extend Uptober gains as Ethereum products lose momentum
US spot Bitcoin ETFs posted another strong day Tuesday, with US$197.8 million in net inflows, reinforcing Bitcoin’s dominance as institutional investors rotated away from Ethereum products.
Data from SoSoValue showed total Bitcoin ETF assets climbing to US$164.79 billion, representing nearly 7 percent of Bitcoin’s market cap.
BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) led inflows with US$255 million, extending its lead over rivals as total assets surpassed $97 billion. Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) and Grayscale Bitcoin Trust (NYSEARCA:GBTC) saw outflows of US$13 million and US$45 million, respectively.
The renewed demand follows a surge of US$1.19 billion in inflows earlier this week, the highest since July, with BlackRock again accounting for the majority.
Bitcoin has gained over 10 percent in October, peaking at US$126,080 before easing to $121,000. Meanwhile, Ethereum ETFs snapped their eight-day inflow streak with US$8.7 million in withdrawals, reflecting a temporary pause after a strong start to the month.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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