Daily Crypto Signals: Bitcoin Faces Tariff Headwinds, BNB Treasury Race Intensifies
Bitcoin is struggling to maintain momentum above $107,000 as escalating US-China trade tensions and Trump administration tariffs create
Quick overview
- Bitcoin is facing bearish pressure due to US-China trade tensions and tariffs, struggling to maintain momentum above $107,000.
- BNB has seen significant corporate treasury investments, with companies like Applied DNA Sciences and CEA Industries increasing their holdings despite market volatility.
- The US Congress is proposing amendments to the Bank Secrecy Act that could impact cryptocurrency exchanges, while Hong Kong continues to embrace crypto with the approval of a new Solana ETF.
- Tether has reached 500 million users globally, highlighting its role in financial inclusion for those without access to traditional banking.
Bitcoin BTC/USD is struggling to maintain momentum above $107,000 as escalating US-China trade tensions and Trump administration tariffs create bearish pressure, though institutional spot ETF inflows suggest underlying accumulation continues. Meanwhile, BNB BNB/USD has attracted significant corporate treasury investment, with publicly traded companies like Applied DNA Sciences and CEA Industries adding substantial positions despite recent market volatility that knocked the token 21% below its all-time high.
Crypto Market Developments
This week, the cryptocurrency market is dealing with a lot of changes in regulations and the use of cryptocurrencies by businesses. The US Congress has presented the STREAMLINE Act to amend the 54-year-old Bank Secrecy Act. It would raise the Currency Transaction Report barrier from $10,000 to $30,000 and the Suspicious Activity Report thresholds for the first time since 1970. These reforms would have a direct effect on crypto exchanges like Coinbase and Kraken, which have to follow rules against money laundering.
Hong Kong is still portraying itself as a crypto-friendly place. It just approved the first spot Solana ETF through China Asset Management. The product, which will trade on the Hong Kong Stock Exchange with both Chinese yuan and US dollar counters, is the third spot crypto ETF in the region, following the approval of Bitcoin and Ethereum ETFs. The fund is set to start on Monday. It has a 1.99% estimated annual fee ratio and a minimum commitment of about $100.
Tether reached an amazing milestone: it now has 500 million users around the world, or about 6.25% of the world’s population. CEO Paolo Ardoino said this is “likely the biggest financial inclusion achievement in history” because the number is made up of real people, not just wallet addresses. This increase shows that bitcoin could help the 1.4 billion adults throughout the world who don’t have access to traditional banking services, especially in nations or areas with high inflation or unstable economies.
Bitcoin Dips Under $108,000 Amid Tariff Concerns
Bitcoin’s market structure shows that there is a fight between bullish spot accumulation and bearish futures market pressure. The top cryptocurrency is trading at about $107,900. After a sell-off on October 10, it found support between $107,000 and $108,000. The amount of money coming into Bitcoin ETFs has been continuously rising. The Coinbase Premium Index and cumulative volume delta demonstrate that both US retail and institutional investors are aggressively buying BTC. However, this buying activity is being held back by severe selling pressure in Binance’s perpetual futures markets, where traders have set up large short positions.
The main things that could stop Bitcoin from recovering are the US-China relationship getting worse and President Trump’s decision to raise tariffs again. Liquidation heatmaps show that momentum traders might be able to force prices down to test liquidity clusters between $106,300 and $104,000 in the near future.
Short positions will face resistance around $115,000. Quinn Thompson, the Chief Investment Officer of Lekker Capital, said that the Oct. 10 liquidation event removed more leverage than the whole January-April 2025 timeframe, even though the market was tough. This suggests that there may be opportunities ahead, similar to the time before Trump’s election in 2024. Analysts are still hopeful that the macroeconomic events that will happen next week could change the current downward trend.
BNB Treasuries on the Rise
BNB (BNB) has been an unexpected choice among publicly traded corporations that want to get into the bitcoin treasury market. Applied DNA Sciences’ shares jumped more than 50% after the company said it was buying 4,908 BNB tokens for about $5.3 million with money from a $27 million private investment. The biotech company got money in the form of cash and stablecoins, as well as OBNB Trust units that gave them indirect ownership of about 10,647 more BNB. Patrick Horsman, the business’s Chief Investment Officer, said that the company expects to utilize a “yield-focused treasury strategy with significant direct and BNB equivalent exposure.”
The trend of companies buying up BNB tokens sped up when CEA Industries, a Canadian vape manufacturer, said it had bought 500,000 tokens at an average price of $870 each. After announcing in July that it will become a BNB treasury firm, CEA now has the most BNB of any corporation and wants to possess 1% of the total supply by the end of the year. David Namdar, the CEO, called BNB the “most overlooked blue-chip in the market” and said that the recent increase showed that fundamentals were catching up to market perception. On October 13, the token reached an all-time high of $1,370 and momentarily passed XRP to become the third-largest cryptocurrency by market valuation.
But BNB’s rise has come at the same time as debate over how Binance handled the market meltdown on October 12, when $19 billion worth of assets were liquidated. People were upset with the exchange because of technical problems, the temporary depegging of Ethena’s USDe stablecoin, and the fact that other altcoins crashed to zero because of technical problems.
In response, Binance started a $400 million rescue program for traders and institutions who were hurt, as well as a $45 million BNB airdrop for traders of memecoins who lost money. BNB is currently trading at about $1,080, which is about 21% less than its most recent all-time high. However, institutional interest is still growing. For example, China Renaissance Holdings is looking for $600 million to build up a US-based digital asset treasury that will focus on accumulating BNB.
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