Coinbase Premium Weakness Signals Bitcoin Selling Pressure Amid Oversold RSI Conditions

Bitcoin experienced significant selling pressure as the Coinbase Premium Index turned negative for the first time in weeks, indicating weakening demand from U.S. investors. The cryptocurrency dropped to $103,500, with taker sell volume surging past $4 billion during the downturn, reflecting strong short-term bearish momentum. However, technical indicators suggest potential support may be forming, as the Relative Strength Index (RSI) reached 34 - mirroring the oversold conditions seen during April's market bottom. This RSI level historically signals that selling pressure may be approaching exhaustion, potentially setting the stage for a price stabilization or recovery. The negative Coinbase Premium, which measures the price difference between Coinbase and other exchanges, specifically points to reduced institutional and retail buying interest from the United States market. Market analysts are closely watching whether this technical support level will hold, as the combination of oversold conditions and weakened U.S. demand creates a critical juncture for Bitcoin's near-term price direction. The substantial taker sell volume indicates active short-term selling, but the oversold RSI reading suggests the possibility of a technical bounce if buyer interest returns to the market.

Bitcoin Faces Selling Pressure as Coinbase Premium Weakens, RSI Signals Potential Support

Bitcoin dropped to $103,500 as the Coinbase Premium Index turned negative for the first time in weeks, reflecting waning U.S. investor demand. The decline coincided with a Relative Strength Index (RSI) reading of 34—mirroring April's bottom zone—suggesting the sell-off may be nearing exhaustion.

Taker sell volume surged past $4 billion during the downturn, indicating short-term bearish momentum. Yet BTC continues to hold its 200-day exponential moving average, a critical support level maintained since early 2024. Market observers note the dichotomy between weakening spot demand and oversold technical conditions creates a tension reminiscent of previous reversal patterns.

Ripple Acquires GTreasury in $1B Deal to Challenge SWIFT, XRP Price Stagnates

Ripple has made its largest strategic MOVE yet with a $1 billion acquisition of GTreasury, a corporate treasury management platform. The deal accelerates Ripple's push to replace SWIFT by integrating blockchain rails into institutional finance. GTreasury's infrastructure will enable 24/7 cross-border settlements for corporate clients using digital assets.

Despite the landmark transaction, XRP's price action remains muted alongside BNB's stagnation—even after the latter's Coinbase listing. This divergence between fundamental progress and token performance is driving investor interest toward emerging projects like DeepSnitch AI, which has surged 26% during its presale phase.

The acquisition marks Ripple's third major deal in 2025, following earlier undisclosed purchases. CEO Brad Garlinghouse framed the GTreasury buyout as a direct challenge to legacy systems: "Money has been stuck in outdated infrastructure for too long." The integration will combine Ripple's payment network with GTreasury's treasury management tools for stablecoins and tokenized deposits.

Crypto Execs Attend Trump Fundraiser Amid Market Uncertainty, PEPE Coin Struggles

Top cryptocurrency executives, including representatives from Gemini, Coinbase, and Ripple, attended a White House fundraiser hosted by former President Donald Trump. The event, aimed at raising $250 million for a new ballroom, underscores the growing political influence of the crypto industry. This development comes during a US government shutdown and a fragile market recovery from October's downturn.

PEPE coin's price prediction has weakened significantly, prompting investors to seek alternatives like DeepSnitch AI—a Stage 2 presale project blending meme culture with utility. The token's presale claims potential returns of up to $90,000 for early buyers, capitalizing on current market sentiment.

While major firms like Meta and Google also participated in the fundraiser, the crypto industry's presence signals heightened Washington engagement. Market observers note this political maneuvering contrasts with ongoing regulatory uncertainty and Bitcoin's stagnant price action below key resistance levels.

U.S. Government Expands Bitcoin Holdings Under Trump Administration

The U.S. government has significantly increased its Bitcoin reserves following a strategic shift under the Trump administration. Previously, seized cryptocurrencies were routinely sold through court-ordered auctions, including a systematized arrangement with Coinbase Prime. The new approach has led to rapid accumulation, with 127,271 BTC—valued at $15 billion—now held by the Department of Justice.

This stockpile originates from high-profile seizures, including assets linked to a sprawling cryptocurrency fraud network. Recent cases, such as that of Cambodian businessman Chen Zhi, reveal sophisticated laundering operations involving mining firms and shell companies. A critical breach in 2020—the 'Milk Sad' software glitch—resulted in the theft of 127,000 BTC from China-based LuBian, though the DOJ has not formally acknowledged this connection.

Top Crypto CEOs to Meet U.S. Senators on Oct 22 For Roundtable

U.S. Senate Democrats are convening a pivotal roundtable with leading cryptocurrency executives on October 22, marking a significant effort to mend relations between regulators and the digital asset industry. Attendees include Coinbase CEO Brian Armstrong, Ripple's Stuart Alderoty, Chainlink's Sergey Nazarov, and other key figures representing exchanges, DeFi, and infrastructure.

The discussion will focus on critical regulatory gaps, including jurisdictional clarity between the SEC and CFTC, as well as frameworks for DeFi oversight. This gathering signals a potential thaw in the political stalemate that has hindered crypto legislation.

Crypto Leaders to Meet Senate Democrats

Top executives from major cryptocurrency firms including Coinbase, Chainlink, Galaxy, Kraken, Uniswap, Circle, and Ripple will convene with pro-crypto Senate Democrats this Wednesday. The policy roundtable, led by Senator Kirsten Gillibrand, will focus on crafting market structure legislation and assessing the future of the digital asset industry.

The meeting underscores a critical effort to align regulatory frameworks with industry innovation. As lawmakers grapple with balancing market integrity and technological progress, this dialogue could shape the next phase of crypto policy in the U.S.