Live Updates: Bitcoin Climbs as U.S. Stocks Rebound on Monday

Bitcoin Rebounds as Tech Futures Recover, While Crypto Treasury Firms Add to Holdings

Technology futures recovered early Monday after last week’s 5.5% decline, bringing renewed attention to this week’s corporate earnings and the sustainability of the artificial intelligence trade.

Bitmine Purchases Another $30.4 Million in Ether

Ethereum treasury company Bitmine (BMNR) continued expanding its ETH holdings, purchasing 12,535 ether last week. The acquisition was worth approximately $30.4 million at recent market prices and was nearly identical in size to the company’s purchase the previous week.

Bitmine now holds around 6.04 million ETH, leaving it approximately 64,000 tokens short of its target of owning 5% of Ethereum’s circulating supply. If purchases continue at the recent pace and supply remains relatively stable, the company could reach that milestone in roughly five weeks.

Chairman Tom Lee has previously said Bitmine intends to stop accumulating ether once it reaches the 5% threshold.

Metaplanet Advances Toward U.S. Bitcoin Treasury Expansion

Shareholders of Super League have approved Metaplanet’s proposed acquisition, according to Metaplanet CEO Simon Gerovich. The transaction clears a major hurdle for the company’s planned transformation into Superplanet (SUPA), a U.S.-listed Bitcoin treasury business.

Once the deal closes, Metaplanet will contribute 2,100 BTC from its existing 44,000-BTC holdings, along with $2.5 million in cash, in exchange for approximately 93.7% ownership. Its shares will be subject to a five-year lockup.

Superplanet intends to increase the amount of Bitcoin held per share mainly by issuing perpetual preferred stock that cannot be converted into common shares. The structure is expected to give Metaplanet greater access to U.S. capital markets.

Strategy Adds 267 Bitcoin as Strive Buys 1,223

Strategy (MSTR), led by Michael Saylor, purchased 267 BTC last week, bringing its total Bitcoin holdings to 848,517 coins.

The company also repurchased another $193 million worth of its high-yield preferred stock, STRC, and expanded its buyback authorization from $2 billion to $3 billion.

STRC fell to $97.72 during last week’s broader market sell-off. The decline could encourage Strategy to continue repurchasing the preferred shares rather than issuing more of them to finance additional Bitcoin acquisitions.

Meanwhile, Strive (ASST), led by Matt Cole, acquired another 1,223 BTC, increasing its holdings to 36,818 coins. The company expects to gain an additional $600 million in purchasing capacity later this week when proceeds from its SATA preferred-stock IPO reach its bank account.

Strive’s SATA shares also came under pressure during last week’s market turmoil, dropping to $96.83. Before the sell-off, they had traded at or above their $100 par value for several weeks, allowing the company to use the instrument to fund Bitcoin purchases.

VIX Falls 5% as Market Anxiety Eases

Wall Street’s volatility gauge declined on Monday as investors began recovering from last week’s technology-stock sell-off.

The Cboe Volatility Index (VIX), which measures expected S&P 500 volatility over the coming 30 days, fell 5% to just below 19. It had surged more than 20% on Friday, approaching 20 as AI-related stocks tumbled.

Historically, sharp Friday increases in the VIX have often moderated by the following Monday.

French Bonds Slide Following Weekend Unrest

While U.S. equities appeared positioned for a recovery and Treasury yields edged lower, European markets remained under pressure.

The Euro Stoxx 50 declined 1.3%, with France’s CAC 40 falling 1.65% after violent unrest over the weekend.

French government bond yields climbed sharply. The 10-year French OAT yield rose 11 basis points to 4.89%, while Germany’s 10-year Bund yield increased 3.5 basis points to 3.44%. The spread between the two reached 145 basis points, its widest level in two weeks.

Bitcoin’s Recovery May Not Signal a New Rally, FxPro Warns

Bitcoin climbed 1.4% over the weekend to approximately $82,800 on Monday after buyers again defended its 50-day moving average. However, FxPro chief market analyst Alex Kuptsikevich cautioned that the move looks more like a temporary recovery than a confirmed return to upward momentum.

Bitcoin’s 50-day moving average stands near $81,000 and has provided support during each decline since last Tuesday. Maintaining that level helps preserve the medium-term trend, but a sustained move higher would require stronger confirmation.

Kuptsikevich pointed to last summer’s price action, when Bitcoin traded sideways around similar levels for more than a month before a sharp rally began on August 19.

He also noted that traditional markets frequently establish local lows toward the end of October. Crypto investors are hoping that seasonal pattern will help prices recover from last week’s losses.

AI-Linked Stocks Rebound After Last Week’s Sell-Off

Shares of Galaxy Digital (GLXY) and other companies exposed to AI data-center infrastructure rose in premarket trading after suffering steep losses last week.

StoneX analyst Mark Palmer argued that Galaxy’s valuation appeared to assume that CoreWeave, a tenant at Galaxy’s Helios data center, had already failed and that no replacement tenants could be found. Palmer reiterated his buy rating on Galaxy and maintained a $57 price target. Galaxy shares rose 3% in premarket trading to $16.80 following a 20% decline the previous week.

Goldman Sachs also upgraded CoreWeave (CRWV) from neutral to buy. CoreWeave shares gained 6% after falling 23.5% last week. Bitcoin-mining and data-center companies Hut 8 (HUT), TeraWulf (WULF) and IREN (IREN) each advanced more than 5%.

Elon Musk Says He Plans to Give SpaceX Shares to Children

Elon Musk said Monday that he intends to give one SpaceX share to every child in the United States next year, describing the initiative as the first of several planned efforts.

SpaceX is scheduled to report its third-quarter financial results after the U.S. market closes on Thursday.

Oil Recovers as U.S. Issues Middle East Security Warnings

Oil prices rebounded from their Asian-session lows amid concerns about a potential escalation of geopolitical tensions in the Middle East.

West Texas Intermediate crude futures recovered to $98.55 per barrel, leaving them down just 0.5% for the day after reaching an intraday low of $96.72. Bitcoin and ether gave up their earlier gains as oil recovered.

The United States reportedly issued security warnings covering 12 Middle Eastern locations, advising citizens of possible flight cancellations and airspace closures. The locations included Saudi Arabia, the United Arab Emirates, Kuwait, Jordan, Bahrain, Oman, Iran, Qatar, Iraq, Lebanon, Yemen and Israel/Jerusalem.

The warnings fueled concerns about possible new U.S. strikes against Iran and further disruption to oil shipments through the strategically important Strait of Hormuz.

Bitcoin Briefly Tops $83,000 Before Pulling Back

Bitcoin rose from an overnight low near $80,700 to briefly move above $83,000 early Monday, before retreating to approximately $82,400 within half an hour as sellers emerged.

The cryptocurrency remained up 0.3% over 24 hours, but the $83,000 level was still roughly $1,000 below the resistance area near $84,000 that rejected Bitcoin on October 13 and October 14.

The rebound coincided with a recovery in technology futures. Nasdaq 100 futures rose 1.1%, ending a weeklong slide that had produced a 5.5% loss, while S&P 500 futures advanced 0.5%. An exchange-traded fund tracking semiconductor stocks gained 3% before the U.S. open, potentially ending a nine-session losing streak.

European markets moved in the opposite direction. The Stoxx 600 fell 0.8% following weekend protests in France, while French bonds led a broader decline in European government debt. The euro weakened against major currencies, the U.S. dollar remained little changed, and Brent crude retreated from a five-month high.

A sustained break above $84,000 would offer an early indication that improving sentiment toward technology stocks is translating into stronger demand for Bitcoin.

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