Live Market Updates: Bitcoin Advances as U.S. Stocks Bounce Back

Bitcoin Recovers as Tech Futures Rise, Bitmine Closes In on 5% Ethereum Goal

Bitcoin moved higher early Monday as U.S. technology futures rebounded from last week’s 5.5% slump. Investors are preparing for major corporate earnings that could reshape expectations around artificial intelligence spending, while digital asset treasury firms continue expanding their cryptocurrency reserves.

Bitmine Adds $30.4 Million in Ether

Bitmine (BMNR), which focuses on accumulating Ethereum, purchased another 12,535 ETH last week, worth approximately $30.4 million at recent prices. The acquisition was almost identical in size to its purchase during the previous week.

The latest transaction brought Bitmine’s total holdings to 6.04 million ETH, leaving it roughly 64,000 tokens short of its goal of owning 5% of Ethereum’s supply.

At its recent purchasing pace, the company could reach that threshold in around five weeks, assuming Ethereum’s supply remains relatively stable. Chairman Tom Lee has previously said Bitmine plans to stop buying ETH once it achieves the target.

Metaplanet Takes Another Step Toward U.S. Expansion

Metaplanet’s plan to establish a U.S.-listed Bitcoin treasury platform has advanced after Super League shareholders approved its proposed acquisition, according to CEO Simon Gerovich.

The deal is expected to result in a rebrand as Superplanet (SUPA). At closing, Metaplanet will contribute 2,100 BTC from its existing 44,000 BTC holdings, alongside $2.5 million in cash, for an estimated 93.7% ownership stake. Its shares will remain locked up for five years.

Superplanet plans to increase its Bitcoin holdings per share primarily through non-convertible perpetual preferred stock, a financing strategy that could expand Metaplanet’s access to U.S. capital markets.

Strategy and Strive Continue Building Bitcoin Reserves

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

The company also bought back $193 million in STRC preferred stock and increased its repurchase authorization from $2 billion to $3 billion. STRC declined to $97.72 during last week’s market sell-off, potentially making additional buybacks more attractive than issuing shares to fund further Bitcoin purchases.

Strive (ASST), meanwhile, added 1,223 BTC, lifting its holdings to 36,818 coins. The company expects to receive $600 million in proceeds from its SATA preferred-stock IPO later this week, giving it additional potential buying power.

SATA also weakened during the market downturn, falling to $96.83 after spending several weeks trading at or above its $100 par value. That earlier premium had allowed Strive to use the preferred stock as a funding source for additional Bitcoin acquisitions.

VIX Falls as Market Volatility Cools

Wall Street’s volatility gauge declined on Monday as investors reassessed risk following Friday’s technology-led sell-off.

The Cboe Volatility Index dropped 5% to just below 19 after surging more than 20% on Friday to nearly 20. The VIX measures the market’s expectations for S&P 500 volatility over the next 30 days. Historically, sharp increases on Fridays have often moderated by Monday.

French Bonds Slide Following Weekend Unrest

European markets remained under pressure even as U.S. equity futures pointed toward a recovery.

The Euro Stoxx 50 declined 1.3%, while France’s CAC 40 fell 1.65% following weekend unrest. French government borrowing costs increased, with the 10-year OAT yield rising 11 basis points to 4.89%.

Germany’s 10-year Bund yield climbed 3.5 basis points to 3.44%, pushing the spread between French and German 10-year yields to 145 basis points, its widest level in two weeks.

FxPro Analyst Urges Caution Over Bitcoin’s Recovery

Bitcoin rose 1.4% over the weekend to around $82,800 after buyers again defended its 50-day moving average. However, FxPro chief market analyst Alex Kuptsikevich said the advance was better viewed as a rebound than confirmation that the cryptocurrency’s upward momentum had resumed.

Bitcoin’s 50-day moving average sits near $81,000 and has supported prices during each pullback since last Tuesday. Holding above that level keeps the medium-term trend intact, but a stronger move higher is needed to confirm a sustained recovery.

Kuptsikevich pointed to last summer’s trading pattern, when Bitcoin moved sideways for more than a month before a sharp rally began on August 19. He also noted that traditional markets sometimes establish local lows toward late October, a seasonal tendency that crypto investors hope could help offset recent losses.

AI-Related Shares Bounce After Last Week’s Declines

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

StoneX analyst Mark Palmer argued that Galaxy’s market valuation appeared to assume CoreWeave (CRWV), a tenant at Galaxy’s Helios data center, had already failed and that no replacement tenants would emerge. Palmer maintained his buy rating and $57 price target. Galaxy shares gained 3% in premarket trading to $16.80 after falling 20% the previous week.

Goldman Sachs also upgraded CoreWeave from neutral to buy. CRWV rose 6% after a 23.5% decline, while Hut 8 (HUT), TeraWulf (WULF) and IREN (IREN) each gained more than 5%.

Musk Announces Proposed SpaceX Share Giveaway

Elon Musk said he plans to give one SpaceX share to every child in the United States next year, describing the plan as the first of several initiatives.

SpaceX is scheduled to release its third-quarter earnings after the U.S. market closes on Thursday.

Oil Rebounds as Middle East Tensions Raise Supply Risks

Oil prices recovered from their Asian-session lows as fresh security concerns raised the prospect of further geopolitical disruption in the Middle East.

West Texas Intermediate crude futures climbed to $98.55 per barrel, leaving them down just 0.5% on the day after touching $96.72 earlier. Bitcoin and ether also surrendered their initial gains as crude prices recovered.

Reports indicated that the United States had issued security warnings covering 12 locations, including Saudi Arabia, the United Arab Emirates, Kuwait, Jordan, Bahrain, Oman, Iran, Qatar, Iraq, Lebanon, Yemen and Israel/Jerusalem. The warnings cited possible flight cancellations and airspace closures.

The reports fueled concerns about potential U.S. strikes on Iran and further interruptions to oil flows through the strategically important Strait of Hormuz.

Bitcoin Briefly Tops $83,000 Before Reversing

Bitcoin climbed from an overnight low near $80,700 to briefly exceed $83,000 early Monday, but fell back to around $82,400 within 30 minutes as selling pressure returned.

The cryptocurrency remained up 0.3% over 24 hours, although resistance near $84,000 continued to cap its recovery. Bitcoin had been rejected around that level on October 13 and October 14.

The move coincided with a rebound in U.S. technology futures. Nasdaq 100 futures gained 1.1% after last week’s 5.5% decline, while S&P 500 futures advanced 0.5%. A semiconductor-focused ETF rose 3% before the U.S. open, potentially ending a nine-session losing streak.

European stocks fell, with the Stoxx 600 down 0.8% following the unrest in France. 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.

Bitcoin’s ability to break and hold above $84,000 could provide an early signal of whether improving sentiment in technology shares is translating into a more durable cryptocurrency recovery.