Uptober Flopped. November, You're Up
Uptober fizzled, macro chaos slapped the market, Powell spooked everyone — but zoom out. We're still riding a long-term uptrend. Buckle up for November. 🚀
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🎃 Happy Halloween, Hodlers 🎃
But uh… is it actually happy?
Depends.
If you were playing leverage this week - congrats, you dressed up as “liquidated.” 💀
We had beautiful swings, nasty wipeouts, and enough volatility to age every trader 5 years. Outside of price action looking like a haunted house chart… kinda a banger week.
Let’s dive in. 👇
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So, did the “Uptober” prophecy actually come true?
Well, we kicked off October with Bitcoin at ~$114k.
And as of this writing? We’re plodding around the low $110K range.
So… no, this isn’t the “Uptober” everyone was shouting about.
What caused the blink and you’ll miss it chaos this week?
Donald Trump and Xi Jinping wrapped up their drama. Their public comments and handshake in Busan calmed trade-war jitters. Markets hate “what does that mean?” and love clarity and we got a bit of it finally.
Jerome Powell cut rates and confirmed that, yep, more money printing is coming starting end of November. But then dropped the “December cut is far from a foregone conclusion” bomb. This one sentence triggered a ~$3K drop in Bitcoin and lots of liquidation of degen leveraged trades.
Solana ETFs launched (hello institutional flows) which should be bullish, especially since it was done during the government shutdown… yet the macro combo made the market barely react. Well, we still have Solana ETFs live for TradFi when they’re ready, plus this one offers staking yield!
So what’s our takeaway?
Short-term? A mess.
Wild leverage, margin calls, geopolitical thorns. But here's the kicker: when you zoom the chart way out, you’ll spot the uphill slope.
We’re still in a long-term uptrend. The fundamentals haven’t shattered. Macro liquidity, regulatory progress, institutional entries they’re still gaming in our favor. But we feel you…it hurts right now.
Zoom out. Breathe. Ignore the noise.
Maybe go touch grass for a bit.
And remind yourself: the wave we’re riding is much bigger than this little storm.
November is supposed to be the real heater… historically Bitcoin’s best month on the board.
Keyword: historically.
Lately? History’s been acting like it forgot its password.
So yeah… let’s see if the beast remembers how to pump. 🚀
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Hodl Headlines
The Week’s Most Interesting News
Western Union Launches USDPT Stablecoin on Solana: Western Union will issue a U.S. dollar‐pegged stablecoin, USDPT, on the Solana blockchain via Anchorage Digital Bank, targeting a launch in H1 2026. The initiative aims to leverage Solana’s high‐speed, low‐cost rails to modernize international remittance flows, enabling Western Union’s 100 million users to hold, send and spend digital dollars globally.
Mt Gox Delays Creditor Repayment to October 2026: The rehabilitation trustee for defunct exchange Mt Gox has extended the repayment deadline for creditors by another year, moving it to October 31, 2026. The decision comes as 19,500 creditors have been paid but tens of thousands remain pending due to verification issues, and 34,689 BTC (~$4 billion) remain locked up.
Japan Launches First Yen-Pegged Stablecoin: Japan’s fintech startup JPYC has issued the first stablecoin pegged one-to-one with the Japanese yen, backed by domestic deposits and Japanese government bonds. The token aims to issue up to ¥10 trillion (~US$66 billion) over three years and waive transaction fees to drive adoption, though regulatory and cultural hurdles remain.
Western Union Pilots Stablecoin Settlements: Global payments firm Western Union is piloting stablecoin-based settlement rails to reduce cost and latency in cross-border transfers, engaging blockchain settlement via a non-retail setup. The initiative is part of its effort to modernise remittances and reflects wider enterprise-interest in crypto-settlement infrastructure.
21Shares Files for Hyperliquid ETF Amid Crypto Fund Wave: Crypto asset manager 21Shares has submitted a registration (Form S-1) to the U.S. SEC for an exchange-traded fund tracking the HYPE token of the Hyperliquid network, signalling growing institutional appetite for altcoin-linked regulated products. The move comes amid a broader wave of crypto fund launches and highlights the continuing push for alt-coin exposure in ETF wrappers.
France Stuns Europe: Lawmakers Adopt Bitcoin & Ban Digital Euro: French lawmakers introduced a resolution to block the Euro (cryptocurrency) digital-euro CBDC while promoting a national Bitcoin reserve and euro-denominated stablecoins as alternatives. The proposal marks a significant pivot in Europe’s regulatory stance, positioning France as potentially the first EU country to overtly favour decentralised digital assets over a central-bank digital currency.
MegaETH ICO Oversubscribed 3× in Just 30 Minutes: The ICO for MegaETH, an Ethereum‐layer-2 project backed by founders including Vitalik Buterin and Joe Lubin, attracted more than three times its cap in bids (~$150 million+) within the first 30 minutes of launch, signalling strong demand for next-gen blockchain infrastructure. The offering implies a fully-diluted valuation (FDV) of ~$3 billion and underscores investor appetite for real-time scalable networks.
Big thanks for making it to the end of this week’s Hodl Report! 👊
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Happy Friday!
Disclaimer: The content from Hodl Report should not be taken as trading, investment or financial advice or solicitation to buy or sell any assets. This newsletter is for informational and educational purposes only. Please be careful out there and DYOR (do your own research)