Morning Crypto Report: US Bitcoin Reserves Soar 64% Overnight, XRP Wallets Hit Historic Records, Coinbase X Hacker Makes $33

**Crypto Market Update: Bitcoin Under Pressure Amid Major ETF Outflows and U.S. Government Seizure**

The crypto market continues to reel from a turbulent week as of Sunday morning. Bitcoin is trading under pressure at around $106,000 following one of the largest ETF outflow waves on record. Meanwhile, the U.S. government has significantly increased its Bitcoin holdings by confiscating over 127,000 BTC overnight, marking a 64% surge in its strategic reserves.

### Bitcoin: Price Under Pressure as U.S. Adds 127,000 BTC to Reserves

Bitcoin (BTC) is currently trading near $106,232, down roughly 8% over the past week. This marks the biggest weekly candle since March, with the price dropping nearly $17,000 in just days after touching $123,000 two weeks ago.

The crypto market saw a massive $1.23 billion in ETF outflows, the second-largest on record, adding significant selling pressure. Retail panic selling confirmed the broader sell-off sentiment.

Adding more shock to the markets, the U.S. Department of Justice seized 127,271 BTC from the Prince Group, accused of scams and illegal mining operations. According to Galaxy Research, this seizure increased the U.S. government’s Bitcoin reserves by 64% in a single night, pushing total holdings to 3.5% of America’s gold reserves.

As a result, the U.S. now stands as the world’s second-largest Bitcoin holder after the private firm Strategy. This symbolic move hasn’t gone unnoticed by traders: while retail investors capitulate into weakness, the U.S. government is strengthening its long-term position.

From a technical perspective, Bitcoin support currently rests at $101,000, a demand wall last tested on Friday. If bearish momentum continues, further support lies around $98,500. Resistance overhead sits near $112,000.

### XRP: Wallets Reach Historic Record Despite Price Weakness

While the price charts show stress, XRP has hit a structural milestone. According to Santiment data, wallets holding over 10,000 XRP now number a record-high 317,500 addresses. This indicates accumulation by mid-level and large-scale investors, signaling strong confidence even as retail sentiment fades.

Despite this, XRP remains down on the month. It is currently up 5.3% from the weekly low but maintains a 30-day MVRV ratio of -15.3%, placing it in what analysts call an “extreme undervaluation zone.” Historically, such levels have often preceded rebounds, as long-term buyers step in while average traders endure losses.

The market for XRP remains fragile. The price is holding stable around $2.20 to $2.25 but could drop as low as $1.95 if bearish momentum persists. The first major resistance XRP bulls need to reclaim is $2.65 to improve market sentiment.

### Coinbase Hacker Nets Only $33 in Bizarre Incident

In unusual news, Coinbase suffered a social engineering attack where its official support account on X (formerly Twitter) was compromised. Attackers used the account to promote a fake presale of a nonexistent “OINBASE” token, posting BTC, ETH, and SOL deposit addresses.

Fortunately, the scheme was short-lived, with attackers netting only about $33 before the scam was exposed. This incident highlights the ongoing risk of social engineering attacks against centralized exchanges, leveraging brand reputation despite strong technical security systems.

While the direct financial damage to Coinbase was negligible, the incident underscores persistent vulnerabilities related to how exchange brands manage their presence on public platforms.

### Evening Outlook: Key Levels and Catalysts Into the New Week

– **Bitcoin:** Trading near $106,232. Support at $101,000 with deeper support around $98,500 if fear accelerates. Resistance at $112,000.
– **Binance:** Banned 600 Alpha bot accounts amid mounting EU and U.S. regulatory pressures.
– **Ethereum:** Trading at approximately $3,737, with key risk level at $3,500 and bullish breakout target at $4,050.
– **XRP:** Holding around $2.32, with support at $2.20 and downside risk to $1.95. Resistance near $2.65.
– **Solana:** At $183.70, risks slipping toward $165 unless it reclaims $192. An announcement scheduled for October 20 is pending. Notably, $750 million USDC was minted in 24 hours, boosting the stablecoin base from $5 billion to $17 billion.

### Summary

This week has seen market-wide downtrends, marked by liquidations and large ETF outflows. However, institutional investors continue to build exposure, and the U.S. government is bolstering its Bitcoin reserves significantly. Meanwhile, Solana’s ecosystem is expanding rapidly, highlighted by a dramatic increase in stablecoin supply ahead of an important upcoming announcement.

Investors should monitor critical support and resistance levels across key cryptocurrencies as the market prepares for potential shifts in sentiment and catalysts in the week ahead.
https://u.today/morning-crypto-report-us-bitcoin-reserves-soar-64-overnight-xrp-wallets-hit-historic-records

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