bloomingbit

Bitcoin short-term holders are continuing to send loss-making coins to exchanges, adding to pressure on investor sentiment, according to on-chain analyst Axel Adler Jr.
In a newsletter on Oct. 27, Adler said his analysis of Bitcoin that moved within the past six months showed inflows of loss-making coins from short-term holders remained dominant.
The 24-hour exchange inflow balance for short-term holders stood at negative 18,600 BTC that day, Adler wrote. That marked a reversal from positive 10,400 BTC a week earlier. The figure fell as low as negative 23,100 BTC on Oct. 26.
A negative reading means that, among short-term holder coins moved to exchanges, coins sitting at a loss outnumbered those in profit. Exchange deposits, however, do not necessarily mean the coins were sold.
During the same period, the share of exchange inflows tied to profit-taking plunged to 16% from 75%. Most coins now moving to exchanges are coming from positions that are underwater.
“The imbalance in loss-making inflows has eased somewhat from the previous day’s low, but it remains substantial,” Adler wrote. Selling pressure can be seen as easing only if the share of profit-taking inflows rises back above 50% and the exchange inflow balance turns positive again.

South Korea’s government and the Democratic Party will hold a policy meeting at the National Assembly on Oct. 28 to decide whether to delay taxation on virtual assets.
A senior Democratic Party official told Korea Business News TV after a closed-door general meeting of lawmakers on Oct. 27 that the party would discuss the various views it has received on virtual-asset taxation at the meeting.
Another party official said the Democratic Party has effectively settled on postponing the tax and plans to deliver its final position to the government on Oct. 28.
The virtual-asset tax was originally due to take effect in 2022, but has been postponed three times because of concerns about investor protection and shortcomings in the tax framework. Under the plan, a 22% tax rate would apply to annual income from transfers or lending of virtual assets above a basic deduction of 2.5 million won ($1,810).
The tax is scheduled to take effect in January next year, but another delay appears increasingly likely given unresolved institutional issues and public sentiment among younger voters.
The presidential office has also been weighing another postponement of virtual-asset taxation and reviewing several options, according to the report.
The Oct. 28 party-government meeting on virtual assets will include key government officials, including Lee Hyoung-il, deputy prime minister and finance minister, as well as senior Democratic Party policymakers.
Seong Nak-yoon, Korea Business News TV reporter nyseong@hankyungtv.com
Jeong Jae-hong, Korea Business News TV reporter jhjeong@hankyungtv.com

South Korea’s Democratic Party and the government are set to hold a policy consultation on Oct. 28 to discuss whether to delay taxation on virtual assets, or cryptocurrencies, scheduled to take effect in January 2027.
Digital Asset reported on Oct. 27 that Jeon Eun-soo, floor spokesperson for the Democratic Party, told reporters after a general meeting of lawmakers that some party members had called for postponing the crypto tax. No decision was made on Oct. 27, he said.
Democratic Party lawmaker Ahn Do-geol also proposed first enacting the Basic Digital Asset Act and then implementing crypto taxation alongside it. The party plans to gather additional opinions before deciding as soon as possible whether to defer the tax.
Hwang Jong-seop, an aide in Democratic Party lawmaker Kim Han-kyu’s office, said he had heard the party-government meeting would be held on Oct. 28. He said the issue of delaying digital-asset taxation was also expected to be on the agenda.
The meeting is expected to include Democratic Party lawmakers serving on the National Assembly’s Strategy and Finance Committee and officials from the Ministry of Economy and Finance.

Calls emerged at a lawmakers' general meeting of South Korea's Democratic Party to delay taxation on virtual assets, or cryptocurrencies, which is scheduled to take effect in January next year. No final decision was made at the meeting.
Digital Asset reported on October 27 that Jeon Eun-su, the Democratic Party's floor spokesperson, said after the meeting that members had voiced support for a delay. He said no decision was reached that day.
Democratic Party lawmaker Ahn Do-geol is said to have proposed first enacting the Digital Asset Basic Act and then implementing crypto taxation together with it.
Jeon said the party would gather more views before making a decision. With about 60 days left before the tax is due to take effect, he said a decision on whether to delay it would be made soon.
The party's policy committee shared various views on the planned launch of the tax at the meeting, but lawmakers' remarks largely leaned toward the need for a delay, according to the report.

Lucent Block holds press conference on fractional-investment licensing
CEO Heo Se-young says the number of licensed firms was capped without a formal vote
Company disputes rejection reasons including capital and governance
“Give us a chance to compete through additional licenses”
Lucent Block, which failed earlier this year to win preliminary approval for a fractional-investment (STO) over-the-counter exchange, alleged that the Financial Services Commission’s licensing process was unfair and opaque. The company argued that the FSC capped the number of licensed operators at two without a formal resolution.
At an emergency press conference held on Oct. 27 at Maru180 in Seoul’s Gangnam district, Chief Executive Officer Heo Se-young called for additional licenses to guarantee a fair chance to compete. He said the company was not seeking preferential treatment for startups, but fairness and transparency.
Lucent Block operates a platform that issues and distributes fractional real-estate investment products. In February, it lost out in the FSC’s preliminary review for a fractional-investment OTC exchange to the Korea Exchange consortium KDX and the Nextrade consortium NXT. At the time, the FSC gave Lucent Block low scores on capital, its funding plan, governance and conflict-of-interest prevention systems.
“FSC capped the number of licensees without a formal vote”
Heo argued that the FSC did not go through a formal vote when it decided to limit the number of approved firms to as many as two. At a regular FSC meeting on Sept. 3, 2025, the matter was handled only as a reporting item, he said. A press release issued the following day then stated that the number had been fixed at up to two.
He also took issue with the FSC’s correction to materials submitted to the National Assembly. The regulator had initially said the cap on licensees was approved through a resolution at a regular meeting, but later revised that explanation, saying it was a working-level error and that the matter had only been reported and discussed. The FSC’s discretionary authority should be exercised through a commission vote, Heo said, but no such vote took place in this case.
Heo also criticized what he described as a lack of objective grounds for limiting the number of licensees. In past approvals for internet-only banks and real-estate trust businesses, authorities reviewed factors including market competition, he said. This time, the FSC offered only a one-line rationale citing investors and the need to prevent liquidity fragmentation. He questioned the logic behind whether there should be one exchange or two.
He also challenged the review standards applied to existing sandbox operators. For OTC exchanges for unlisted shares, regulators first reviewed two existing sandbox operators, he said. For fractional-investment OTC exchanges, by contrast, regulators conducted a competitive review that included new entrants. He questioned why different standards were applied even though both markets were institutionalized under the same enforcement decree.
He said that approach also runs counter to the purpose of South Korea’s financial regulatory sandbox program. Under Article 21, Paragraph 1 of the Special Act on Support for Financial Innovation, innovative financial service operators may apply for the relevant licenses to continue their businesses after their designation period expires.
Existing operators have the right to apply for licenses under the law, he said, but in practice there is no door through which they can exercise that right.
“The stated reasons for rejection are also inaccurate”
Heo also disputed the reasons the FSC gave for rejecting the company. On governance, he said his own stake is about 35%, while the FSC cited a combined 51% including related parties and concluded that the company had the character of a closely held personal firm. He said the structure does not allow him to control other investors’ stakes at his discretion.
He also objected to the FSC’s assessment of capital. At the time of the application, Lucent Block had secured about $16.6 million in capital, according to Heo. That was not far from the roughly $21 million secured by the NXT consortium. It was about one-fourth of the approximately $65.2 million secured by the KDX consortium.
He also explained why Lucent Block did not form a consortium. At a meeting in August 2025, the Korea Exchange had said it would distribute fractional-investment products on its existing exchange, he said, while Nextrade had said it would not participate in the business. At the time, it was difficult to expect either institution to take part in the licensing process for a fractional-investment OTC exchange.
He added that Lucent Block was never asked to join a consortium.
He said the FSC should review those points and provide an additional licensing opportunity. The company is not asking regulators to revoke the licenses already granted, he said. It wants a fair chance to compete through additional approvals.
He also left open the possibility of legal action. The company is reviewing legal procedures, though it is unclear how long that would take. He said he hopes financial authorities will still make a policy decision.

U.S. spot Bitcoin exchange-traded funds attracted more than $100 million in net inflows.
According to SoSoValue on October 27, U.S. spot Bitcoin ETFs recorded combined net inflows of $110.34 million in the previous session. The market returned to net inflows after two consecutive trading days of net outflows.
All of the day's inflows went to BlackRock's iShares Bitcoin Trust (IBIT). The remaining products recorded no net inflows or outflows.

South Korea’s Democratic Party is reviewing ways to revise the virtual-asset tax regime, including a further delay, ahead of its scheduled implementation in January next year.
Newsis reported on October 27 that floor leader Han Byung-do told a strategy meeting on the National Assembly’s state audit that the party would review concerns surrounding crypto taxation, gather internal views at a general meeting of lawmakers, and then consult with the government.
Key issues include whether overseas virtual-asset trading records can be secured at a level sufficient for taxation and whether the tax burden could fall disproportionately on users of domestic exchanges. Han also said the party needs to check whether a tax system reflecting actual trading conditions has been put in place.
The Democratic Party plans to gather views at a general meeting of lawmakers later in the day on adjusting the implementation timing and improving the system, then relay those opinions to the government. It also plans to speed up legislation on the Digital Asset Basic Act, which is intended to define the legal nature of virtual assets and establish a broader regulatory framework for the industry.
Kwon Chil-seung, the party’s policy committee chair, said opinion remains sharply divided over whether to proceed with the tax. Concerns center on the lack of a sufficient legal foundation for virtual assets and the possibility of heavier burdens on young investors. At the same time, others argue that gains should be taxed in the interest of tax fairness.
Kim Han-kyu, the senior deputy floor leader for policy, said the party is also reviewing the view that the same tax standards should apply to crypto and other investment assets such as stocks and bonds. With only about two months left before the planned rollout, the Democratic Party intends to move quickly on consultations with the government and finalize its policy direction.
The virtual-asset tax was introduced through a revision to the income tax law in December 2020, but its implementation has been postponed three times because of insufficient investor safeguards and tax infrastructure. Under the current timetable, it would take effect in January 2027.
The presidential office is also discussing another delay to the start of taxation, according to the report. Still, no decision has been made, and the specific direction will be determined through further consultations between the party and the government.

Today’s Top Economic Events
▶ Oct. 27 (Tuesday): △US September durable goods orders (9:30 p.m. Korea Standard Time) △US October consumer confidence index (11 p.m. Korea Standard Time) △Day 1 of the Federal Open Market Committee (FOMC) meeting △Corporate earnings: Visa, Boeing, Coca-Cola, PayPal
Today’s Top Crypto Events
▶ Oct. 27 (Tuesday): △Osmosis (OSMO) v32 upgrade

Strategy, the corporate Bitcoin holder, plans to introduce a structure under which dividends on its preferred stock STRC accrue every calendar day.
Phong Le, Strategy’s chief executive officer, wrote on X on October 26 that the change would be implemented a week later if the daily dividend accrual method for STRC wins approval.
Under the proposal, dividends would accumulate every day on the calendar. That means payouts would be calculated for all dates, including weekends and holidays, unlike traditional financial products that operate on a business-day basis.
Le said STRC would become the world’s first security with dividends accruing daily on a calendar-day basis if the method is adopted.
He added that the change could help accelerate the digital transformation of capital markets. It could also set a new standard for how dividends are calculated for traditional financial products.
The daily dividend accrual method has not yet been approved. Whether it is implemented, and when, will depend on the outcome of that process.

Die US-Kommission für den Handel mit Warenterminkontrakten (CFTC) wird Gespräche über die Regulierung des Einsatzes KI-gestützter automatisierter Handelssysteme aufnehmen.
Wie Crypto in America am 26. Oktober berichtete, veranstaltet die Innovations-Taskforce der CFTC am 28. Oktober das Frontier Forum on Super Intelligence. Teilnehmer aus der Finanz-, Technologie- und Kryptowährungsbranche sollen darüber diskutieren, wie Fortschritte im Bereich KI die US-Finanzmärkte beeinflussen könnten und wie sich die Aufsicht weiterentwickeln sollte.
Die Veranstaltung ist das erste Forum der Innovations-Taskforce. Die CFTC treibt zwei Regelungsvorschläge mit Bezug zu Kryptowährungen voran und hat zudem damit begonnen, die Aufsicht über KI-gestützte Handelssysteme als wichtigen Tagesordnungspunkt zu behandeln.

Anthropic, der Entwickler des KI-Chatbots Claude, hat das Verfahren für einen Börsengang in den USA eingeleitet.
Cointelegraph berichtete am 26. Oktober, dass Anthropic am Vortag eine Registrierungserklärung des Formulars S-1 bei der US-Börsenaufsichtsbehörde SEC eingereicht habe. Das Unternehmen plant, seine Stammaktien der Klasse A unter dem Tickersymbol ANT am Nasdaq Global Select Market zu notieren.
Aus der Einreichung geht hervor, dass Anthropic bereits Mitte November an die Börse gehen könnte. Der Zeitplan für das Angebot und der endgültige Termin der Börsennotierung stehen jedoch noch nicht fest.

Der Bärenmarkt von Bitcoin ist bereits vorbei, und jetzt ist ein guter Zeitpunkt, die Positionen auszubauen, heißt es in einer neuen Analyse.
Alex Thorn, Forschungsleiter bei Galaxy Digital, schrieb in einem am 26. Oktober veröffentlichten Bericht, dass der Bärenmarkt von Bitcoin im Juni endete und die Kryptowährung nun in eine Akkumulationsphase vor einem neuen Aufschwung eingetreten sei.
Der Bericht verwies auf technische Indikatoren. Bitcoin stoppte seinen Rückgang im Juni nahe seinem gleitenden 200-Wochen-Durchschnitt und eroberte im September den gleitenden 50-Wochen-Durchschnitt zurück. Ähnliche Muster seien in der Vergangenheit nach dem Ende von Bärenmärkten aufgetreten, hieß es in dem Bericht.

Die Ölpreise fallen, da die Hoffnung auf einen Durchbruch bei den Gesprächen zwischen den USA und dem Iran wächst. Bitcoin (BTC) hielt sich über der Marke von 80.000 US-Dollar.
CoinDesk berichtete am 26. Oktober, dass Brent-Rohöl gegenüber dem vorherigen Handelstag um mehr als 6 % gefallen war und unter 110 US-Dollar pro Barrel gehandelt wurde.
Die Erwartung, dass sich die Spannungen zwischen den USA und dem Iran abschwächen könnten, schien die Ölpreise unter Druck zu setzen.
Die Financial Times berichtete, dass der Iran Gespräche mit Vertretern aus Saudi-Arabien, Pakistan und der Türkei führt. Katarische Vertreter hatten zuvor ebenfalls den Iran besucht, hieß es in dem Bericht.

Acht Tage vor den US-Zwischenwahlen richtet sich die Aufmerksamkeit auch darauf, wie sich das Ergebnis auf den Markt für digitale Vermögenswerte auswirken könnte.
Laut BeInCrypto vom 26. Oktober schätzten Polymarket-Wettende die Wahrscheinlichkeit eines demokratischen Sieges bei der Mehrheit im Repräsentantenhaus auf 93 % und bei der Mehrheit im Senat auf 65 %.
Sollten die Demokraten letztlich beide Kammern kontrollieren, könnte das Bitcoin (BTC) belasten, heißt es in dem Bericht.
Ein Faktor ist die Stärke des Dollars. Glassnode, ein Analyseunternehmen für digitale Vermögenswerte, erklärte, dass die inverse Korrelation von Bitcoin zum Dollar jüngst den höchsten Stand seit Beginn der Aufzeichnungen erreicht habe. Sollten die Demokraten die hohen Staatsausgaben der Trump-Regierung eindämmen und die Sorgen über das Haushaltsdefizit zerstreuen, könnte der Dollar an Stärke gewinnen und Bitcoin zusätzlich unter Druck setzen.

Evernox, ein Unternehmen, das XRP als Reserve hält, bemüht sich um zusätzliche Finanzierung.
Laut der US-Börsenaufsichtsbehörde SEC reichte Evernox am 23. Oktober eine Registrierungserklärung auf Formular S-1 ein, die bis zu 5.218.935 Stammaktien umfasst.
Die Einreichung erfolgte im Rahmen eines Aktienkaufvertrags, den Evernox mit der Investmentgesellschaft CF Principal Investments unterzeichnet hatte.
Auf Grundlage des Schlusskurses von 15,46 US-Dollar je Aktie am 22. Oktober erklärte das Unternehmen, dass es bis zu rund 80,7 Millionen US-Dollar einnehmen könnte.
Evernox plant, den Erlös für zusätzliche XRP-Käufe, Unternehmen mit Bezug zum XRP-Ökosystem und allgemeine Unternehmenszwecke, einschließlich des Betriebskapitals, zu verwenden.

Das US-Militär hat die Vorbereitungen für eine großangelegte Operation gegen den Iran abgeschlossen, die innerhalb von 96 Stunden beginnen könnte, wenn Präsident Donald Trump den Befehl dazu gibt, berichtete CNN.
CNN berichtete unter Berufung auf zwei US-Regierungsvertreter am 26. Oktober, dass im Nahen Osten bereits genügend Streitkräfte stationiert seien, um weitere Angriffe durchzuführen. Wenn Trump die Operation genehmigt, könnte sie innerhalb von 96 Stunden beginnen.
Die erwogene Militäraktion wäre umfassender als frühere, begrenzte Angriffe. Das US-Zentralkommando und das Pentagon prüfen eine umfangreiche Zielliste, die iranische Energieanlagen, Militärstützpunkte und Nuklearanlagen umfasst. Ein Vertreter bezeichnete sie als großangelegte Operation.

Der japanische Yen erweist sich als wirksamer sicherer Hafen gegenüber Finanzmarktschocks im Zusammenhang mit dem Boom bei Investitionen in künstliche Intelligenz.
Bloomberg berichtete am 25. Oktober, dass Goldman Sachs in einer Analyse vom 23. Oktober schrieb: Auch wenn das globale wirtschaftliche Umfeld weiterhin auf einen schwächeren Yen hindeute, sei die Währung inzwischen ein attraktiverer Schutz für Portfolios mit Schwerpunkt auf zyklischen Vermögenswerten als in den vergangenen Jahren.
Der Yen legte während des weltweiten Ausverkaufs von Technologieaktien in der vergangenen Woche zu. Am 22. Oktober stieg er gegenüber dem Dollar um 0,9 Prozent und erreichte am 23. Oktober den höchsten Stand seit mehr als einem Monat. Die Nachfrage nach sicheren Anlagen nahm zu, da Sorgen über steigende KI-Investitionen die Aktienkurse belasteten und die Renditen von US-Staatsanleihen stark sinken ließen.

Park Soo-young, deputy policy chief of the ruling People Power Party, urged the government to further delay the implementation of virtual-asset taxation and first put in place the related制度 and computer infrastructure.
In a Facebook post on October 26 titled "Announce Confirmation of a Delay in Virtual-Asset Taxation," Park called on the government to quickly finalize its plan to postpone the tax. He stressed that virtual-asset investors are not refusing to pay taxes themselves, but are demanding a fair tax environment.
Park took issue with the continued lack of adequate computer systems needed for taxation. Citing findings from his office, he said the country's five largest virtual-asset exchanges and the National Tax Service exchanged 49 official documents but still failed to complete the relevant systems. He also argued that detailed standards, including which assets would be taxed and how tax amounts would be calculated, have not been sufficiently prepared.
He also warned that difficulty in tracking overseas transactions could undermine tax fairness. Park said the US is set to participate in the Crypto-Asset Reporting Framework, or CARF, from 2029, while China has not even set a participation timetable. That, he added, could leave users of domestic exchanges bearing a disproportionate tax burden.
Park also cited a shrinking virtual-asset market as another reason for a tax delay. Funds flowing into domestic exchanges have dropped to about half their previous level, he wrote, arguing that the investment environment is deteriorating.
He also referred to the presidential office's recent move to review a tax delay. According to Park, discussions advanced four days after he raised concerns over inadequate tax preparations at a National Assembly standing committee and during a parliamentary audit, and held a joint press conference with youth groups.
Park said the government should swiftly decide whether to grant an additional delay while also ensuring the effectiveness and fairness of the tax system. In particular, he urged authorities to complete sufficient institutional preparations first so as not to restrict young people's opportunities to build assets.

Die Wahrscheinlichkeit einer Zinserhöhung der Federal Reserve im Oktober ist gesunken. Damit haben sich die Markterwartungen verstärkt, dass die Entscheidungsträger die Zinsen unverändert lassen werden.
Bloomberg berichtete am 25. Oktober, dass die aus Zinsswaps abgeleitete Wahrscheinlichkeit einer Zinserhöhung im Oktober unter 15 % gefallen sei. Die Entwicklung spiegelt schwindende Erwartungen an eine weitere Straffung der Geldpolitik wider, während Aktien aus dem Bereich künstliche Intelligenz eingebrochen sind und die Sorgen über eine Abschwächung des US-Wirtschaftswachstums zugenommen haben.
Die Fed erhöhte im September ihren Leitzins zum ersten Mal seit etwa drei Jahren. Anhaltender Inflationsdruck hatte Spekulationen über weitere Erhöhungen im Oktober und Dezember ausgelöst. Diese Einschätzung begann sich jedoch zu ändern, nachdem hochrangige Fed-Vertreter wiederholt einen vorsichtigen Ton angeschlagen hatten.