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💰🔥 Bitcoin Surges Past $120K: Old World Chaos Ignored

Hello there you embodiment of curiosity;

Welcome to today's edition of Osiris News, if you are watching the price action and feeling a sense of defiant optimism, you are not alone. The market has decided to run, shrugging off the political theater in Washington like a bad joke. Bitcoin punched through $120,000 with clean intent, less a rally than a statement. It smells like Uptober.

The story today is about a great divergence. In one corner, you have the institutions of the old world grinding to a halt, a government shutting down over familiar squabbles. In the other, you have a decentralized network that does not care, an ecosystem that seems to draw strength from the chaos.

🔍 Quick Overview

• Bitcoin’s charge: BTC vaulted past $120,000 on Uptober and macro tailwinds, with $200,000 now in sight.

• TradFi’s tokenized leap: Tether eyes a $20B raise and the SEC okayed crypto custody for state trusts.

• Altcoins awaken: Charts hint at potential 2x moves; Solana leads on-chain equities while Zcash rebounds.

• AI’s crypto backbone: A Nasdaq-listed biotech put $344M into Aethir, signaling DePIN as core AI infrastructure.

• Regulatory road map: The SEC clarified custody rules and Treasury eased tax treatment, but the shutdown is stalling ETF approvals.

Trending News

⚖️📊 US Lawmakers Propose Strategic Bitcoin Reserve

The BITCOIN Act, backed by Congressman Nick Begich and Senator Cynthia Lummis, aims for the U.S. to acquire one million Bitcoins over five years. This initiative reflects a growing sentiment among policymakers to embrace digital assets as a strategic reserve. The proposal could set a precedent for other nations and significantly boost Bitcoin's long-term value proposition.

💡🌍 Robinhood CEO Predicts Tokenization Will Reshape Finance

Robinhood CEO Vlad Tenev stated that tokenization is a "freight train" set to transform traditional finance, with Robinhood already offering tokenized stocks in Europe. The platform plans to tokenize real estate next, aiming for a global, 24/7 asset market. This move by a major retail platform signals a future where all assets are on-chain, increasing accessibility for everyday investors.

📈🌐 Crypto Market Rallies Amid US Shutdown and Macro Shifts

Bitcoin surged past $120,000, with Ether, Solana, and Dogecoin also seeing significant gains, defying expectations of a market retreat. This rally is driven by anticipation of Fed rate cuts and looser global liquidity conditions. Digital assets are demonstrating resilience against traditional market uncertainties, potentially signaling a decoupling from traditional finance.

🏦⏰ CME Group to Offer 24/7 Crypto Futures Trading by 2026

CME Group will transition its cryptocurrency futures and options to continuous 24/7 trading by early 2026, reflecting growing demand for always-on digital asset markets. The platform also plans to launch options on Solana and XRP futures. This shift by a major traditional finance player signals deeper integration of crypto into mainstream finance, increasing liquidity and tightening spreads.

This tiny pause brought to you by “please let this help pay the bills” 👀

Beyond the Noise

The hum became a roar. BTC vaulted $114K and $120K, torching shorts, the honey-badger script in full. Seasonality helps (October finished green in 10 of the last 12 years, avg 20%+), but macro is the motor. The $500B Treasury General Account drain is ending, liquidity straw out of the glass. With a shutdown delaying official jobs data, weak private payrolls now tug the Fed toward earlier cuts, risk assets’ favorite weather.

This isn’t a one-boat lift. Market structure signals ($BTC.D and TOTAL2) suggest altcoins could roughly 2x (~175%) by mid-next year. Solana is quietly becoming the institutional rail for on-chain equities, handling ~60% of volume YTD; a SOL ETF looks like “when, not if” once Washington reopens. Ethereum isn’t idle: the “Fusaka” upgrade hit testnet, aiming at better scalability. Even XRP found a bid despite its longtime CTO stepping back.

Under the headlines, the plumbing is being rebuilt. Tether is reportedly courting SoftBank and ARK in a raise that implies a ~$500B issuer valuation, putting stablecoin minting in big-tech territory. Circle is extending its tokenized U.S. Treasury fund to Solana, while a dirham-pegged stablecoin launched in the UAE. In Nairobi and Lagos, these aren’t abstractions; they’re daily tools against inflation and remittance friction.

TradFi is accelerating into tokenization. The SEC is exploring on-chain stock trading; Nasdaq has filed to permit tokenized securities. JPMorgan’s Kinexys onboarded Qatar National Bank Group, giving treasurers 24/7 settlement in minutes instead of days. And a quiet but pivotal shift: the SEC cleared investment advisers to use state-chartered trust custodians (think Coinbase, BitGo). For many allocators, that was the last big operational hurdle.

Meanwhile, a forgotten aisle lit up. Zcash (ZEC) ripped ~250% this month, reviving the “insurance against Bitcoin” narrative as surveillance intensifies. Its optional privacy is easier for regulators than Monero’s defaults, but shielded usage remains low and mining concentration is a drag, proof the privacy debate is far from settled.

Risks haven’t left the room. SBI Crypto lost $21M in an attack with likely DPRK fingerprints. The UK must decide what to do with $7.2B in seized BTC, sell, hold in reserve, or return, each with real market consequences.

This Caught My Eye:

Here’s a breakdown:

• New York Senate Bill 8518 seeks to impose an excise tax on electricity used in proof-of-work mining, with rates ranging from 2¢ to 5¢ per kWh depending on energy consumption.

• Facilities powered fully by off-grid renewable energy are exempt. Proceeds would fund residential energy affordability programs, highlighting policymakers’ growing scrutiny of crypto mining’s energy footprint.

Looking Ahead

Three engines are pulling markets forward: (1) macro liquidity turning as the TGA drain ends and rate-cut odds rise; (2) institutional on-ramps multiplying via custody clarity, tokenized securities, and bank-grade rails; and (3) core tech shipping, Fusaka on testnet, stablecoin rails spreading, tokenized treasuries crossing chains. For now, that trio drowns out Washington’s shutdown noise.

But the divergence can’t persist forever. Either the “always-on” crypto stack drags the legacy system toward faster, cleaner settlement, or the old world’s frictions slow the new rails. Two operating systems are running in parallel: one brittle and stoppable, one resilient and programmatic. The next quarter will reveal which has the stronger gravity.

Until tomorrow,
- Dr.P