It’s Monday again, so here’s our weekly digest of key events in the crypto market. Let’s take a look at what happened over the past week.
🔹 Last week, Bitcoin climbed to $86,913, its highest level since September 23. Before that, the asset had traded mainly within the 82,500–85,700 range throughout the week, according to a QCP report. At the time of publication, Bitcoin is trading at around $85.829 .
🔹 CryptoQuant warned of the risk of a short-term Bitcoin correction. Unrealized on-chain profits among short-term holders have reached a 21-month high. Capital.com analyst Daniela Hathorn identified the 87,000–88,000 range as the nearest resistance level, while 84,000–85,000 represents the first support zone in the event of a decline. According to JPMorgan estimates, Bitcoin's current production cost is approximately $85,000. Keeping the price above this level reduces pressure on miners and minimizes the risk of forced selling.
🔹 Bitget has identified the cause of the security breach, reopened Bitcoin withdrawals, and begun gradually restoring other withdrawals following the $388 million attack. Within the first hour after withdrawals resumed, the platform processed 9,585 requests totaling approximately 4,098 BTC.
🔹 According to Bitget CEO Gracy Chen, the exchange has fixed the vulnerability exploited by the attackers.
We’ll be back soon with more updates — until then, stay tuned! #Blando
