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BlockBeats News, October 17: Bloomberg senior commodity strategist Mike McGlone wrote yesterday that if U.S. stocks pull back 20%, Bitcoin could head toward the $10,000 support level. “Since 2009, the first cryptocurrency to emerge (BTC) has led the rally in risk assets. But Bitcoin reaching a peak above $100,000 in 2025, gold rising above $5,000 in the first quarter, and most central banks turning cautious amid surging government bond yields may signal the endgame.”
Crypto analyst Darkfost pushed back, arguing that even a 20% pullback in U.S. stocks would have no historical precedent that could correspond to BTC falling around 92% from its peak. He therefore considers this price target “highly unlikely.”

BlockBeats News, October 17: According to Hong Kong media outlet HK01, Hong Kong’s BBB Group (Chinese name: 好好好集团) claims to be investing in the agarwood industry in Malaysia and selling OTC shares and digital assets. The scheme is suspected to be a scam. The company says it will convert its OTC shares into “digital assets,” or cryptocurrency, by February 2027. Hong Kong police have reportedly received complaints from 21 people concerning the investment project, involving a total of HK$14 million. The Commercial Crime Bureau is investigating the case as “conspiracy to defraud,” and has launched an arrest operation. Four people have so far been arrested.
Separately, the Hong Kong Securities and Futures Commission’s website lists “Malaysia Agarwood Plantation Investment / Agarwood Tree Scheme / Agarwood Potted Trees / APT4.0” as a suspicious investment product.

BlockBeats reported on October 17 that, according to a joint report by independent outlets Court Watch and 404 Media, recently unsealed U.S. federal court documents show that the privacy-focused social media app Telegram provided U.S. authorities with private data about a specific user after receiving a valid legal request.
The documents include a response Telegram sent in September 2026, which contained the user's phone number, user ID, account display name, and the IP address and timestamp of their last login. Telegram described the disclosure as “voluntary,” but stated that it did not recognize U.S. jurisdiction and had not provided any chat content or contact information.

BlockBeats News, October 17: After hitting a record high of $5,608 per ounce in January this year, spot gold has fallen about 27% to around $4,112. Silver has also dropped from its January high of $121.62 to around $56, a decline of more than 50%. However, the sharp price drops have not eased tight supplies in the physical market.
According to the World Gold Council, global central bank gold purchases reached 288.9 tonnes in the second quarter of 2026, a record high for the period and up 62% year over year. Meanwhile, the Silver Institute expects the global silver market deficit to widen to 46.3 million ounces in 2026, marking a sixth consecutive year of supply shortfalls, while growth in mine supply remains relatively limited.

BlockBeats News, October 17: According to monitoring by AI Auntie, a whale address that began building a multimillion-dollar altcoin position on September 23 withdrew 2.455 million ONDO from Binance 12 hours ago, worth approximately $1.144 million, at an average withdrawal price of $0.4662.
The address still holds approximately $9.218 million worth of three altcoins on-chain: 1.014 million UNI, worth approximately $8.91 million, withdrawn at an average price of $8.79, with an unrealized loss of approximately $1.551 million; 2.455 million ONDO, worth approximately $1.144 million; and 12,400 LTC, worth approximately $841,000, withdrawn at an average price of $67.86, with an unrealized loss of approximately $101,000.

BlockBeats News, Oct. 17: According to The New York Times, U.S. Treasury Department data show that the U.S. federal budget deficit rose to $1.99 trillion in fiscal year 2026, up from $1.78 trillion in fiscal year 2025, reaching its highest level since the pandemic. Despite the Trump administration’s pledge to cut spending, rising military and Social Security expenditures and interest on the national debt, combined with declining corporate tax revenues, further widened the deficit.
The data show that total U.S. government spending rose 6% year over year to $7.4 trillion in fiscal year 2026, while tax revenues increased 3% to $5.4 trillion. Rising long-term interest rates added more than $100 billion to interest payments on the national debt compared with 2025. In addition, the U.S. Supreme Court ruled that tariffs imposed by Trump on national security grounds were unlawful, requiring the government to refund more than $100 billion in tariff revenue this year.

BlockBeats news, October 17: According to market data from BIT (bit.com), Strategy (MSTR) extended its decline to 9.08%, and is currently trading at $137.5.
In related news, MSCI plans to adopt new rules that would exclude companies whose asset structures and business characteristics are more like those of investment funds than traditional operating companies, based on tests of the proportion of operating assets and several financial ratios. Because Bitcoin makes up a very high proportion of Strategy’s assets, it has been listed as a potential candidate for removal. The final list of affected companies is expected to be announced on November 11.
The market believes that if MSTR is removed from MSCI-related indexes, passive funds tracking those indexes would be forced to reduce their holdings, potentially creating billions of dollars in selling pressure and challenging its model of continually accumulating Bitcoin through equity financing.

BlockBeats News, October 16: Investment bank Cantor Fitzgerald today raised its price target for Strategy (Nasdaq ticker: MSTR) from $186 to $208 and maintained its Overweight rating.
In his latest report, analyst Ramsey El-Assal raised his forecast for Bitcoin's price over the next 12 months from $98,000 to $112,000. The report also updated the company's latest Bitcoin holdings (approximately 848,000 BTC) and raised its enterprise value estimate from approximately $97 billion to approximately $110 billion. The adjustment reflects the analyst's more optimistic view of the value of Strategy's Bitcoin reserves, although the market is still watching for related risks, such as the possibility that the company could be removed from certain MSCI indexes.

BlockBeats News, Oct. 16: Analyst MorenoDV cited CryptoQuant data showing that Bitcoin’s bear market has reshaped the capital structure of its largest holders. New whales now account for about one-third of whales’ aggregate realized capitalization, making recent large holders increasingly important to a recovery.
As of Oct. 15, new whales held $78.61 billion in realized capitalization, compared with $159.15 billion for old whales. Their share was 33.06%, up from about 18% at the start of 2026. This measures the value of coins when they last moved on-chain, not their share of the BTC supply.

BlockBeats News, Oct. 16 — Circle CEO Jeremy Allaire said demand for stablecoins is growing significantly in Southeast Asia, Latin America, and the Middle East, and that the company plans to expand into around 50 emerging and developing markets. He said the industry is at an inflection point, “moving from the early-adopter phase of blockchain technology into mainstream scale.” USDC’s circulating supply currently stands at around $72.6 billion, accounting for about a quarter of the stablecoin market, while Tether’s USDT accounts for nearly 60%. Circle has agreed to acquire Singapore-based payments company Tazapay for $400 million, giving it access to local banking and payment networks in more than 100 markets and helping it expand in regions traditionally dominated by USDT.

BlockBeats News, October 16: The Quantum Alliance, comprising nine crypto companies, was established today. Publicly listed members include security firm Hacken, Charles Hoskinson’s Midnight Foundation, quantum-resistant Layer 1 blockchain Quantus, and Postquant Labs; the remaining members have yet to be disclosed individually. The alliance will develop shared security standards for blockchains such as Bitcoin and Ethereum. It estimates that the public keys of approximately 6.4 million bitcoins (30.2% of the total supply) have been exposed, including around 1.1 million bitcoins attributed to Satoshi Nakamoto, although current quantum computers are not yet capable of stealing these assets.