–> However, the market is still uncertain, especially as news of possible new tariffs between the U.S. and China is making investors cautious. After the CME gap was filled, many expected Bitcoin to show some upward momentum. However, the timing coincided with fresh tension over trade between the U.S. and China. The renewed tariff threats have made investors more careful, causing some to pull out of risky markets. This shift has affected cryptocurrencies too, with Bitcoin losing its earlier momentum. Bitcoin CME gap has been filled. Usually $BTC shows some upside momentum after filling the CME gap. But right now, there’s still some uncertainty around Trump tariffs. If the US-China trade deal happens, we could see a good rally. pic.twitter.com/dYTOUMjhn1 — Ted (@TedPillows) October 15, 2025
Sixteen players in New Jersey won $10,000 or more last week playing Powerball, Mega Millions and New Jersey Lottery games. The New Jersey Lottery announced its weekly winners on Oct. 13. Here’s a look at where these tickets were sold from Oct. 6 to Oct. 12, as provided by the lottery agency: Jackpocket is the official digital lottery courier of the USA TODAY Network. Gannett may earn revenue for audience referrals to Jackpocket services. Must be 18+, 21+ in AZ and 19+ in NE. Not affiliated with any State Lottery. Gambling Problem? Call 1-877-8-HOPE-NY or text HOPENY (467369) (NY); 1-800-327-5050 (MA); 1-877-MYLIMIT (OR); 1-800-GAMBLER (all others). Visit jackpocket.com/tos for full terms and conditions.
Brace yourself: the cryptocurrency landscape is on the precipice of a seismic shift. The prospective approval of spot XRP exchange-traded funds (ETFs) isn’t merely a topic of discussion — it represents a pivotal juncture that could substantially change the narrative around XRP and its interplay with institutional investment. This moment isn’t merely a speculative notion; it has the potential to draw a multitude of investors, from large institutions to everyday traders, into the fold. With the stakes soaring, these ETF approvals could be the catalyst that propels XRP’s market price into unprecedented territory. A transformation is brewing under the watchful eye of the U.S. Securities and Exchange Commission (SEC). With essential decisions anticipated during the critical window found between October 18 and October 25, 2025, market titans like Grayscale and Bitwise await clarity that could alter their strategic game plans. It’s the kind of moment that will echo through the entire crypto ecosystem; the green light for even a single XRP ETF could unleash an influx of institutional investment reminiscent of Bitcoin’s early ETF victories, sending ripples throughout the market. Imagine a world where XRP ETFs become reality. Such a development would open a guarded door for institutional investors yearning for a taste of XRP, eliminating many of the typical entry barriers linked to direct cryptocurrency purchases. Historical trends show that ETFs can draw significant capital inflows, and projections hint at a remarkable surge — potentially amassing $10 billion in the early weeks alone. This seismic shift could not only elevate XRP’s market capitalization but also have the power to double its existing valuation, igniting a self-reinforcing cycle of increased market presence and demand. Currently floating around the $2.81 mark, XRP’s fortunes could change dramatically with anticipated ETF approvals on the horizon. Informed analyses suggest a potential price ascent placing XRP between $4.25 and $5.50 under stable market conditions. However, if speculation injects adrenaline into investor enthusiasm, we could see figures soar to a jaw-dropping $7 to $8. These projections underscore how inflows and market sentiment can dramatically impact XRP, particularly within the context of high-stakes decision-making that looms ahead, heightening investor intrigue. On-chain analytics reveal an encouraging narrative as well; activity on the XRP Ledger (XRPL) is witnessing a remarkable uptick, with decentralized exchange (DEX) volume soaring by 203%. This trend points to rising confidence among traders who prefer engaging in native trading frameworks. As more financial players pivot to DEX platforms, the availability of XRP on centralized exchanges is dwindling. Such dynamics are critical, suggesting that inadequacies in supply could lead to inline price hikes proportional to surging demand, further underscoring the bullish outlook for XRP’s future. Yet caution remains necessary. While the allure of XRP ETFs captivates potential investors, we must also confront the gritty realities faced by many Web3 startups. Despite the anticipated influx of institutional capital, smaller firms must navigate a labyrinth of liquidity challenges, compliance demands, and the complexities of fiat integration. As the landscape shifts with the introduction of new ETFs, these enterprises will need to strategize adeptly, ensuring they meet regulatory requirements while remaining agile and competitive in a fast-evolving market. As the countdown to ETF approvals marks a promising chapter in institutional investments in digital assets, the implications could signal a transformative era for XRP. Upcoming price forecasts stress the urgency for regulatory clarity, as each tick of the clock could redefine XRP’s long-term valuation. However, amid the excitement lies necessity for Web3 startups to recalibrate and find their footing within an ETF-centered ecosystem. The SEC’s decisions will not only sculpt the fate of XRP but also the broader cryptocurrency landscape, marking a significant moment in the saga of digital assets. As speculation swirls, it’s time to scrutinize the tangible implications of these impending XRP ETFs. We’re no longer dabbling in mere possibilities; the potential for XRP to reshape its narrative is not just a dream — it could be on the brink of reality.
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KERALA LOTTERY RESULT 15-10-2025 LIVE: The Kerala State Lottery result for the “Dhanalekshmi DL-22 draw on Wednesday, October 15, 2025, is scheduled to be announced at 3 PM. This lottery draw is part of the seven weekly draws held in Kerala. The alphanumeric code assigned to this specific lottery is “DL,” incorporating both the draw number and the code. The first prize for the fortunate winner of this draw is a bumper 1 Crore rupees. Below, you can find the comprehensive list of winners (Ticket Numbers) for the Kerala ‘Dhanalekshmi DL-222’ lottery draw. Trending Photos Kerala Lottery Results Today 15-10-2025: The Kerala Dhanalekshmi DL-22 Bumper Lottery result has been declared today by the Kerala State Lottery Department. The lucky draw for the Dhanalekshmi DL-21 lottery was held at 3 PM today, Wednesday, October 15, at Gorky Bhavan, near Bakery Junction, Thiruvananthapuram. The first prize winner will take home a whopping ₹1 Crore. The Dhanalekshmi lottery is one of the seven weekly lotteries conducted by the Government of Kerala and is held every Wednesday. Each ticket costs ₹50, and the draw is represented by the code “DL”, followed by the draw number. You can verify the results at statelottery.kerala.gov.in.
<br>The live results and full list of winning numbers for Dhanalekshmi DL-22 Bumper Draw will be available soon. Check if you’re among the lucky winners below:<div><div class="recommended_widget"><div id="taboola-mid-article-thumbnails"></div></div></div><div id = "v-zeenews-india-v1"></div> <h2><strong>Kerala Lottery Result 15-10-2025: FULL LIST OF WINNING NUMBERS FOR DHANALEKSHMI DL-22 BUMPER Draw</strong></h2><div classname="googlePopUp" id="googleCTA" style="background-color:#FFD1D1;height:46px; border-radius:4px"> <div classname="googlePreferredAd" style="display:flex;padding:4px 20px;gap:20px;width:100%;justify-content:center"> <p style=" font-size:14px !important; font-weight:bold; color:#333333;">Add Zee News as a Preferred Source <a href="https://www.google.com/preferences/source?q=zeenews.india.com" target="_blank" style="margin-left: 20px;" id="googleIconBtn"> <img src="https://english.cdn.zeenews.com/static/public/updated_logos/googlePreferred.png" alt="" style="width:122px !important;" /> </a> </div> </div> <div id="trendingNow" class="mb-3"></div> <br>Add Zee News as a Preferred Source <a href="https://www.google.com/preferences/source?q=zeenews.india.com" target="_blank" style="margin-left: 20px;" id="googleIconBtn"> <img src="https://english.cdn.zeenews.com/static/public/updated_logos/googlePreferred.png" alt="" style="width:122px !important;" /> </a> <br><strong>Kerala Lottery Result - LUCKY NUMBER FOR 1ST PRIZE OF ₹1 CRORE IS: DY 867458</strong> <br><strong>Kerala Lottery Result - LUCKY NUMBER FOR 2ND PRIZE OF ₹30 LAKHS IS: DP 763537</strong> <br><strong>Kerala Lottery Result - LUCKY NUMBERS FOR 3RD PRIZE OF ₹5 LAKH ARE: DS 126913</strong> <br><strong>Kerala Lottery Result - LUCKY NUMBERS FOR CONSOLATION PRIZE OF ₹5,000 ARE: </strong> <br><strong>(For The Tickets Ending with The Following Numbers below)</strong> <br><strong>Kerala Lottery Result - LUCKY NUMBERS FOR 4TH PRIZE OF ₹ 5000 ARE: 0123 0532 0677 1276 3020 3192 3423 4580 4682 4930 5016 5803 5850 5856 5966 6343 6970 8428 9594</strong> <br><strong>Kerala Lottery Result - LUCKY NUMBERS FOR 5TH PRIZE OF ₹2,000 ARE: </strong><strong>0773 1297 2021 3042 8243 854</strong> <br><strong>Kerala Lottery Result - LUCKY NUMBERS FOR 6TH PRIZE OF ₹1,000 ARE: </strong><strong>0529 1426 2258 3247 3327 3482 3974 4102 4147 4327 4920 4926 5236 5688 5755 6019 6123 6342 6795 7213 7592 8069 8225 8241 993</strong> <br><strong>Kerala Lottery Result - LUCKY NUMBERS FOR 7TH PRIZE OF ₹500 ARE: </strong><strong>4392 6903 0505 3860 8217 1202 9352 0590 0645 2694 3266 7554 6538 7350 5283 5584 7951 5258 1106 8779 4647 9006 9824 0027 1203 7237 2421 6678 2071 2586 5437 0037 5518 1379 9796 5570 0737 9495 4159 8758 1222 1247 8956 1163 0187 8783 7772 6075 6884 9492 5822 9072 1312 3897 6308 6572 4720 7550 2739 4784 8738 9317 0526 9294 1313 2313 4215 3204 8054 1217 9033...</strong> <br><strong>Kerala Lottery Result - LUCKY NUMBERS FOR 8TH PRIZE OF ₹200 ARE: 0017 0368 0418 0452 0479 0491 0549 0647 0657 1178 1189 1364 1388 1394 1629 1694 1906 1925 1934 2067 2096 2319 2337 2460 2533 2653 2684 2896 3383 3531 3549 3554 3562 3771 3781 4038 4112 4302 4372 4471 4500 4502 4517 4553 4595 4853 4995 5026 5097 5200 5307 5324 5439 5689 5742 6070 6096 6151 6198 6388 6429 6486 6700 6803 6912 7012 7094 7193 7203 7228 7244 7363 7424 7568 7603 7617 7659 7827 7898 7922 8171 8443 8617 8724 8922 8986 9122 9167 9357 9463 9552 9670 9776 9890 9984 9985</strong> <br><strong>Kerala Lottery Result - LUCKY NUMBERS FOR 9TH PRIZE OF ₹100 ARE: 0007 0111 0185 0201 0233 0275 0348 0451 0492 0558 0624 0716 0728 0786 0894 0895 0898 1105 1306 1368 1400 1535 1564 1782 1804 1850 1854 1857 1919 1923 1951 2031 2078 2105 2152 2190 2277 2286 2291 2305 2485 2547 2548 2550 2589 2669 2795 2800 2825 2884 3002 3051 3144 3248 3299 3391 3561 3622 3710 3750 3830 3870 3900 3923 3924 3953 4012 4137 4155 4208 4311 4365 4388 4398 4437 4446 4520 4525 4621 4639 4646 4681 4753 4819 4875 4911 4915 4925 5055 5129 5157 5330 5333 5363 5550 5640 5735 5863 5919 6030 6052 6062 6398 6563 6670 6675 6714 6756 6767 7278 7297 7307 7348 7479 7484 7675 7761 7770 7776 7834 7969 8053 8263 8572 8589 8615 8650 8677 8700 8721 8926 8945 9005 9470 9602 9623 9782 9927</strong> <h2><strong>KERALA LOTTERY RESULT October 15 TODAY: DHANALEKSHMI DL-22 BUMPER LOTTERY PRIZE DETAILS</strong></h2> <br><strong>Kerala Lottery Result 1st Prize: ₹1,00,00,000 (1 Crore)</strong> <br><strong>Kerala Lottery Result 2nd Prize: ₹50,00,000 (50 Lakhs)</strong> <br><strong>Kerala Lottery Result 3rd Prize: ₹20,00,000 (20 Lakh)</strong> <br><strong>Kerala Lottery Result 4th Prize: ₹1,00000 (1 Lakh)</strong> <br><strong>Kerala Lottery Result 5th Prize: ₹5,000</strong> <br><strong>Kerala Lottery Result 6th Prize: ₹1,000</strong> <br><strong>Kerala Lottery Result 7th Prize: ₹500</strong> <br><strong>Kerala Lottery Result 8th Prize: ₹100</strong> <br><strong>Kerala Lottery Result 9th Prize: ₹50</strong> <br><strong>Kerala Lottery Result - Consolation Prize: ₹5,000</strong> <br><strong>(NOTE: Lottery can be addictive and should be played responsibly. The data provided on this page is for informational purposes only and should not be construed as advice or encouragement. Zee News does not promote lottery in any way.)</strong> <h2><span style="color:#FF0000;"><strong>Stay Tuned To Zee News For Live And Latest Updates On Kerala Lottery Result</strong></span></h2><br>A ticket with multiple security features can prevent claims if damaged. So keep the ticket safe. Those who won the prize less than Rs.5000 should approach any lottery shop in Kerala with the ticket to collect the amount. If the prize is more than 5000 then the ticket and identity documents should be brought to any bank or government lottery office.<br>The prize winners are advised to verify the winning numbers with the results published in the Kerala Government Gazette and surrender the winning tickets within 30 days.<br>- 3rd Prize Rs. 5,00,000 /- [5 Lakh]<br /> - DS 126913 (GURUVAYOOR)<br>- 2nd Prize Rs.30,00,000/- [30 Lakhs]<br /> - DP 763537 (MALAPPURAM)<br> -1st Prize Rs.1,00,00,000/- [1 Crore]<br>-DY 867458 (PAYYANNUR)<br /> <br> <br>The Akshaya Lottery is held on Sunday, the Win-Win Lottery is held on Monday, the Sthree Sakthi Lottery is held on Tuesday, the Fifty-Fifty Lottery is held on Wednesday, the Karunya Plus Lottery is held on Thursday, the Nirmal Lottery is held on Friday, and the Karunya Lottery is held on Saturday. Unfortunately, the government temporarily halted the sale of the Pournami lottery and introduced a new programme in the Monthly Lottery called Bhagyamithra Lottery.<br>The Government of Kerala's Lotteries Department manages the prestigious national lottery game known as the Kerala Lottery, which is conducted in a legal manner. For this, the Kerala State Government established a distinct lottery department. The Lotteries Department is the only entity in charge of all lottery-related activities. One of the country's most established lotto games is the Kerala Lotto. When the lottery first began, each ticket only cost one rupee, and the top reward was fixed at Rs. 50000. A few fortunate candidates are offered the chance to win the prize money each day.<br>Stay informed on all the <a href="/">latest news</a>, real-time <a href="/"> breaking news</a> updates, and follow all the important headlines in<a href="/india"> india news</a> and<a href="/world">world News</a> on Zee News.<br>Thank you<br><br><br><a href="https://news.google.com/rss/articles/CBMipgJBVV95cUxQZEd4N0ktN09JWTE3N2trcUZBZGZKUk91UTE0dG1DQW9RWjVBME52ZTlrMjBWZTYxeTQ2eTZfV0ZRd2JYNlotc3NoeGdOc042QU1iWU5jelpGNU03T3BHZU80UUh4d1paNVJ2bzkycHNVSllkSTllNzJYUWtVSDNXLWxWdFpLcUVoQ2JPTm5aSFhHLVAtWndvQy11endMaW5SUXozNmt6TnBYbmF2NXJCb1I0TUNEamFqNEllYjB4MVRKNUlwUEpyWE1nZVlyZzZaWXBfNnlKOXhLLWgzNlc1dFlMeHk0RXc3TmU0eTI0cmtwM0stSkpJRHVJRVJXWGFFZ1MtdWdWVVVyNWV3V2M1LWc5V296TkFvSGFJUWpobkRMMGFJWXc?oc=5">source</a>
October 15, 2025 – The Pi Network, a blockchain project that has captivated over 47 million users globally with its mobile-first mining approach, stands at a pivotal juncture. As of mid-October 2025, the network remains in its strategic “Enclosed Mainnet” phase, a period designed to cultivate a robust, utility-driven ecosystem before a full public launch. This unique development model has led to fervent community discussions regarding its future direction, unofficial price volatility, and the profound implications of its “power of the crowd” dynamic in a crypto landscape often dominated by large institutional players. The project’s ongoing Protocol v23 upgrades, nearing Testnet completion, alongside a recently concluded hackathon (October 15, 2025) offering 160,000 PI tokens, underscore a relentless drive towards utility creation. However, the absence of an official market listing means Pi Coin’s value remains a subject of intense speculation and unofficial trading, creating a unique set of challenges and opportunities that ripple through the broader crypto ecosystem. Unlike most cryptocurrencies, Pi Coin currently lacks official market listings on major exchanges, rendering traditional price analysis challenging. Nevertheless, unofficial “IOU markets” provide a speculative glimpse into investor sentiment. As of mid-October 2025, these unofficial valuations hover between approximately $0.21 and $0.26. This comes after a period of notable volatility; September 2025 saw a nearly 48% decline, pushing unofficial prices to a new all-time low of $0.184, before a modest recovery. While the Average True Range (ATR) indicated low volatility around October 8, 2025, the Relative Strength Index (RSI) suggested oversold conditions, hinting at underlying pressures. The project faces potential bearish trends, partly due to anticipated token unlocks that could increase selling pressure if the burgeoning ecosystem does not meet the community’s high expectations for utility. In stark contrast to these unofficial market fluctuations, a community-driven “Global Consensus Value (GCV)” has emerged, with figures cited as high as $314,159 per Pi. This GCV represents a powerful, collective belief in the project’s long-term potential and fundamental value, rather than a reflection of current market supply and demand. This dichotomy highlights Pi Network’s philosophical departure from conventional crypto economics, prioritizing intrinsic utility and broad accessibility over speculative trading. The Pi Network community, often referred to as “Pioneers,” exhibits a fascinating blend of unwavering optimism and growing skepticism. Many express palpable excitement about ongoing developments, including the successful hackathon, the progression of Protocol v23, and the launch of a community-powered Pi DEX on the Testnet, which allows users to experiment with token swaps and liquidity pools. Rumors of potential bank integrations further fuel positive sentiment, with the “Global Consensus Value (GCV)” movement preparing for its third conference on October 19, 2025, to solidify its community-driven valuation. However, a significant segment of the community voices concerns regarding the protracted timeline for a full “Open Mainnet” launch, which has been in an “Enclosed Mainnet” state since February 2025. Issues such as perceived centralized token distributions and a perceived lack of transparent communication from the Pi Core Team have led to profound doubts about the project’s ability to rebound and fully deliver on its promises. Despite these criticisms, the core philosophy articulated by the project — “value over price, community over speculation” — continues to resonate, challenging the traditional, speculation-heavy dynamics of the broader crypto market. The network’s impressive scale, with over 210 live applications and 23,000 projects reportedly in Pi Studio, underscores the potential impact of this crowd-sourced ecosystem. The immediate future for Pi Network hinges on several critical developments designed to transition it from its “Enclosed Mainnet” to a full “Open Mainnet” phase, targeted for the latter half of 2025. This transition is contingent on the successful completion of ongoing KYC verification processes for its vast user base and the continued expansion and maturity of its decentralized application (dApp) ecosystem. The anticipated rollout of the major Protocol v23 upgrade to the Mainnet in Q4 2025 or early 2026 is another key milestone, promising enhanced stability and feature capabilities. Strategically, Pi Network is actively pursuing integration with Stellar’s Soroban smart contracts, a move that could significantly expand its capabilities in decentralized finance (DeFi), AI payments, and tokenization. This integration signals an ambition to move beyond mere mobile mining to become a foundational layer for diverse Web3 applications. The project’s continued emphasis on preventing the dominance of “whales” and instead fostering a truly community-driven market will be crucial. The success of Pi Network will ultimately be measured by its ability to translate its massive user base into tangible utility and sustainable value within its ecosystem, proving that the “power of the crowd” can indeed challenge traditional market structures. For crypto investors and enthusiasts, Pi Network represents a fascinating, albeit unconventional, experiment in mass crypto adoption. Its “Enclosed Mainnet” strategy, while frustrating for some due to its prolonged nature, is a deliberate attempt to build a robust, utility-first ecosystem before full market exposure. The unofficial market volatility, juxtaposed with the community’s ambitious “Global Consensus Value,” highlights the unique challenges and opportunities of a project attempting to redefine how cryptocurrency value is created and perceived. The long-term significance of Pi Network lies in its potential to democratize access to cryptocurrency, leveraging its vast user base to create a truly decentralized and inclusive digital economy. Key metrics and events to monitor include the official Open Mainnet launch, the successful deployment of Protocol v23, the continued growth and utility of its dApp ecosystem, and the progress of its KYC verification efforts. The upcoming GCV conference on October 19, 2025, will also offer insights into community sentiment and collective vision. Ultimately, Pi Network’s journey will be a test case for whether the “power of the crowd” can successfully navigate the complexities of the crypto market and establish a sustainable, value-driven digital currency. This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency investments carry significant risk.
Bitcoin’s rally to $126.1k reversed amid macro stress and a $19B futures deleveraging, one of the largest in history. With ETF inflows weakening and volatility spiking, the market is in a reset phase, characterized by flushed leverage, cautious sentiment, and recovery hinging on renewed demand. Bitcoin’s rally to $126.1k reversed amid macro stress and a $19B futures deleveraging, one of the largest in history. With ETF inflows weakening and volatility spiking, the market is in a reset phase, characterized by flushed leverage, cautious sentiment, and recovery hinging on renewed demand. Bitcoin’s rally above the $114k–$117k supply cluster culminated in a new all-time high at $126.1k before losing momentum. The renewed sell pressure, amplified by concerns over escalating U.S.–China tariff tensions, triggered a sharp market-wide deleveraging, with futures open interest contracting by more than $19B. In this edition, we examine the aftermath of this correction through both on-chain and off-chain lenses to assess the current state of market sentiment and structural resilience. This latest contraction is particularly concerning, as it marks the third instance since late August where Bitcoin’s spot price has dipped below the 0.95-quantile price model ($117.1k)—a level where over 5% of supply, primarily held by top buyers, sits at a loss. Price now resides within the 0.85–0.95 quantile range ($108.4k–$117.1k), retracing from the euphoric phase of the recent rally. Without a renewed catalyst to lift prices back above $117.1k, the market risks deeper contraction toward the lower boundary of this range. Historically, when price fails to hold this zone, it has often preceded prolonged mid- to long-term corrections, making a sustained drop below $108k a critical warning signal of structural weakness. Adding to the market’s inability to sustain its euphoric phase, the persistent Long-Term Holder (LTH) distribution since July 2025 has further constrained upside momentum. During this period, the LTH supply has declined by roughly 0.3M BTC, highlighting steady profit realization among mature investors. This ongoing sell-side pressure underscores the risk of demand exhaustion, with the market likely to enter a consolidation phase. Should distribution persist without a corresponding inflow of new demand, periodic corrections or localized capitulation events may emerge before equilibrium is restored. Following the largest liquidation event in Bitcoin’s history, U.S. spot ETF flows have weakened in tandem with price. While the derivatives market underwent extreme deleveraging, ETF investors also showed mild selling pressure, with cumulative netflow turning negative by 2.3k BTC so far this week. This behavior contrasts with prior capitulation phases, where outflows typically accelerated alongside price declines. The current moderation suggests hesitation rather than panic. However, sustained weakness or a prolonged delay in ETF inflows returning to strength would signal demand-side fragility, undermining one of the key drivers behind Bitcoin’s prior rallies.
During the recent liquidation cascade, spot trading volumes surged sharply, marking one of the highest levels recorded this year. The spike reflects intense market activity as traders rushed to adjust positions amid heightened volatility. Pairing this spike in spot volume with the Cumulative Volume Delta Bias (CVDB) — which measures deviations from the 90-day median of cumulative trade flow — reveals a notable divergence across major exchanges. Binance faced heavy taker sell pressure, while Coinbase saw net buying activity, suggesting institutional participants were absorbing supply on U.S. venues. The aggregated CVDB shows only a mild net sell bias, far less severe than the sharp spot capitulation observed in late February 2025. This indicates that, despite elevated volatility, the recent drawdown reflected localized deleveraging rather than a broad investor exit. The recent collapse in Bitcoin futures open interest ranks among the largest single-day contractions on record, erasing more than $10 billion in notional positions. This marks a major derivatives market flush-out, comparable in magnitude to the May 2021 liquidation and the 2022 FTX unwind. The steep decline reflects widespread forced deleveraging, as margin calls triggered liquidations across both long and short positions. Notably, with Bitcoin’s price still holding above key on-chain support, the event appears to be driven primarily by leverage compression rather than broad spot selling — a structural reset rather than a full capitulation. Following the sharp contraction in futures open interest, the Estimated Leverage Ratio, open interest relative to exchange balances, also collapsed to multi-month lows. This historic deleveraging event cleared excessive leverage across the system, marking one of the largest single-session resets on record. The magnitude of the drop suggests widespread unwinding of positions, also extending to altcoin markets. While painful, such flush-outs help reduce systemic risk and lay the groundwork for a more stable market structure ahead. Following the historic leverage flush, the futures market stress deepened as funding rates collapsed to levels not seen since the FTX fallout in late 2022. Across perpetual futures, annualized funding briefly turned sharply negative, showing traders paying a premium to stay short after bullish leverage was wiped out. This marks a complete sentiment reversal, with participants rapidly de-risking amid forced liquidations. Historically, such extreme funding resets have coincided with peak fear and the final stages of deleveraging, often cleansing excess leverage and restoring balance for a healthier recovery phase in the mid-term. With futures markets undergoing a deep deleveraging, attention now turns to the options market, where activity has recovered remarkably quickly. It took little time for Bitcoin options open interest to rebuild following the major expiry on September 26. OI has already climbed back near its all-time highs, underscoring how rapidly traders reloaded exposure once positions were cleared. Recent volatility and liquidations likely accelerated this recovery, as participants sought to hedge against risk and manage downside exposure. The swift rebound highlights robust engagement and continued reliance on options for both protection and tactical positioning in a volatile environment. Following the rapid increase in open interest, the options market experienced a surge in trading activity as volatility spiked. Following Bitcoin’s sharp drop late Friday, volumes rose dramatically into Saturday as traders scrambled to adjust risk. The data show clear bursts of activity during and immediately after the selloff. This reaction was driven by gamma dynamics; short gamma traders were forced to buy back exposure to manage margin and avoid liquidations, while long gamma participants supplied liquidity at elevated premiums. The spike in volume reflected a market in stress-management mode, with hedges recalibrated, liquidity tightening, and demand for short-term protection surging. The next step is to assess how implied volatility evolved in response to this dislocation. As the liquidation cascade accelerated around 7 PM UTC last Friday, 1-week implied volatility surged from 35% to a peak of 76%, its highest level since April 2025. At those highly inflated levels, gamma sellers quickly stepped in to sell volatility, capitalizing on the squeeze. The spike in vol was a textbook volatility squeeze: short-dated short-vol positions were forced to cover and roll further out, driving the front end sharply higher. In practice, that means traders had to buy back their short-dated options at much higher prices while simultaneously selling longer-dated options to re-establish short exposure further out the curve. This flow created a temporary dislocation, with short tenors exploding higher while longer maturities stayed relatively anchored, leaving a steep and distorted curve. The gap between short- and long-dated vols came from that imbalance: short-term panic and forced buying on the front end, versus longer maturities where traders were already fading the move and selling vol as liquidation pressure began to ease.
Ahead of the market’s sharp decline, the put/call volume ratio, measuring the relative share of traded puts versus calls, surged dramatically. On Friday, as Bitcoin hovered near $121.7k, the ratio jumped above 1.0, closing at 1.41 and peaking near 1.51, up from roughly 0.8 earlier in the week. While not always predictive of downside, such abrupt spikes often signal structural stress or concentrated hedging, suggesting traders were actively positioning for risk even before the broader liquidation cascade began. Following the extreme volatility surge, attention shifts to the options skew, which vividly captured traders’ flight to protection. The 25-delta skew (calculated as Put – Call ) exploded across expiries after the largest liquidation in BTC options history, as demand for downside hedges soared. Before the crash, short-dated skew had nearly normalized, with the 1-week tenor around –1.3%, implying a slight call premium. As fear took hold, it flipped violently to +17%, marking one of the sharpest short-term repricings of downside optionality this year. As volatility cooled, short-dated skew retraced while longer maturities stayed anchored; the 3- and 6-month tenors even showed slightly lower put premiums. This steadiness on the long end suggests traders used the dip to accumulate long-dated calls into 2026, favouring strategic exposure over short-term panic protection. Bitcoin’s rally to a new all-time high at $126.1k quickly reversed as macro stress and extreme leverage triggered one of the largest $19B deleveraging events in derivatives history. The drop below the $117k–$114k cost-basis cluster placed top buyers back in loss, reinforcing near-term fragility. On-chain data point to cooling demand and continued LTH distribution, while ETF inflows have weakened, a sign of softening institutional appetite. Spot markets showed a controlled sell-off, and futures markets underwent a historic leverage flush, resetting systemic risk. In the options market, open interest and volume rebounded swiftly, but volatility spiked, skew flipped sharply positive, and traders rushed to hedge. Despite rapid stabilization, the market remains in a reset phase, where renewed ETF inflows and sustained on-chain accumulation will be key to restoring confidence and confirming a durable recovery. Disclaimer: This report does not provide any investment advice. All data is provided for informational and educational purposes only. No investment decision shall be based on the information provided here, and you are solely responsible for your own investment decisions. Exchange balances presented are derived from Glassnode’s comprehensive database of address labels, which are amassed through both officially published exchange information and proprietary clustering algorithms. While we strive to ensure the utmost accuracy in representing exchange balances, it is important to note that these figures might not always encapsulate the entirety of an exchange’s reserves, particularly when exchanges refrain from disclosing their official addresses. We urge users to exercise caution and discretion when utilizing these metrics. Glassnode shall not be held responsible for any discrepancies or potential inaccuracies. Please read our Transparency Notice when using exchange data. Subscribe for free to receive best-in-class market analysis on Bitcoin, Ethereum, and DeFi, and novel on-chain research. By subscribing, you agree to our Terms & Conditions and Privacy Notice.
Home – Crypto Presales – Pi Network Price Forecast — Pi Coin Faces Volatility as Investors Question Its Next Big Move Pi network is entering a make-or-break moment, and all eyes are on its price. As the market turns uncertain, many wonder if this is the start of a bigger shift or just another pause before a major move. Investors are watching closely, trying to guess what comes next. While some are cautious, others are ready to take the leap if momentum builds. With Pi coin drawing more attention, every small change sparks fresh debates and rising curiosity. This isn’t just another crypto story but a test of faith, patience, and timing. Year Maximum Price Average Price Minimum Price Potential ROI 2025 $0.217289 $0.042844 $0.152116 3.14% 2026 $0.593557 $0.294103 $0.149651 181.73% 2027 $0.398489 $0.310976 $0.205307 89.14% 2028 $0.306816 $0.228197 $0.212059 45.63% 2029 $0.439151 $0.330322 $0.255614 108.44% 2030 $0.914374 $0.578006 $0.402362 334.01% The current Pi network price reflects a market searching for direction. Volatility has pushed traders into a “wait and see” mode, but such uncertainty often sets the stage for unexpected moves. If momentum returns, the price could surprise both skeptics and believers. As Pi captures investor attention with its volatility and potential, many are also looking for projects that combine strong tech and real utility to ride the next big move.
Many traders are checking the Pi network price today to see if momentum is finally shifting. Others seek returns elsewhere, turning to presales such as Bitcoin Hyper. This crypto project creates the technical foundation for BTC’s next phase, which is not shaped by speculation but utility-fueled demand. Hyper is the fastest Layer 2 built for Bitcoin, and to fulfill its mission, it uses the Solana Virtual Machine. The project is designed to blend the best of both worlds by including scalability, speed, and security. BTC is locked in the Canonical Bridge and turned into wrapped BTC, which powers fast, scalable hybrid apps on Hyper’s network. These apps rely on Bitcoin’s security while boosting transaction speed, reducing BTC’s main chain supply. When users withdraw, the system validates and releases the original BTC back to their L1 address. Each transaction within the network contributes to buy-side pressure, providing growth to utility-driven demand for Bitcoin that originates from actual activity, instead of depending only on its store of value appeal. When it launches, the project will deliver developers a new environment where applications can settle securely on BTC while running with SOL-native performance. The project has divided its total token supply between:
If utility matters to you, don’t just watch; explore where Bitcoin Hyper fits in this story today. As the Pi network app continues to bring in new users, projects like Bitcoin Hyper show how strong tech and utility can shape real momentum. $HYPER’s presale started in May and has shown immense success since. Namely, the project has raised over $23.5 million to date, with much of it contributed to numerous whale purchases. More specifically, within a week, it secured around $3.3 million in funding. Moreover, it leaped from $22 million to $23 million in only three days.
It’s a reasonable observation that wealthy buyers typically have more access to valuable insights and information that smaller traders might not. Therefore, when a single entity, be it a high-net-worth individual or an institutional desk, makes significant purchases, retail investors often follow their lead. A bold Pi network price prediction often goes hand in hand with speculation about future BTC Layer 2 leaders, and Bitcoin Hyper is quickly climbing that list. At the time of this publication, $HYPER is priced at $0.013115. SOL buyers will claim the token on Solana, whereas credit card, ETH, and BNB buyers will claim it on Ethereum. The project will provide a bridge to move assets between Ethereum, Solana, and BTC Hyper. After purchasing the token, holders can add it to the project’s staking pool and earn passive income. The reward APY is currently standing at 50%, but as more tokens are added to the pool, the APY drops. So far, over one billion $HYPER tokens have been staked. The presale is limited and may end early based on demand. Crypto influencers and analysts have also weighed in on Hyper’s potential, adding to the rising excitement around the presale. Don’t wait on the sidelines; check out how Bitcoin Hyper could be part of that bigger move.
