The crypto market has been experiencing a lot of volatility this past weekend. Here are some of the major events that happened in the crypto world:

Bitcoin price hovers near $35,000

Bitcoin’s price has been hovering near $35,000, with hopes of approval for a spot Bitcoin exchange-traded fund by the United States Securities and Exchange Commission boosting Bitcoin’s price by 27% in October. 

This improved sentiment has attracted more buyers, but higher levels attract selling by traders. The bears tried to start a deeper pullback on Oct. 27, but the long tail on the candlestick shows solid buying at lower levels. 

Although the rising moving averages indicate an advantage to buyers, the overbought levels on the relative strength index (RSI) suggest that the BTC/USDT pair may spend some more time in consolidation. 

The important level to watch out this week for on the downside is $32,400 and then $31,000. Sellers will have to pull the price below this zone to seize control. On the contrary, if the price rises and rallies above $35,280, it could extend its rally in the next few days.

Crypto Biz: BlockFi emerges from bankruptcy, Worldcoin halts USDC payments and more

BlockFi has emerged from bankruptcy, and FTX and BlockFi have started to return their customers’ funds. 

FTX and affiliates estimate that $8.7 billion has been misappropriated from customers. BlockFi has lent FTX more than $650 million, making it one of the exchange’s largest creditors, which means its customers’ repayment success is tied to FTX’s ability to recover its assets. 

FTX’s new management is also carefully considering its future options, including selling the entire exchange or partnering with another entity to revive it. The possibility of an independent comeback is also on the table. BlockFi, on the other hand, has no option but to wind down operations, according to its court filings.

Worldcoin has halted USDC payments and made changes to its payment scheme. The company has faced many challenges, including a lack of liquidity and regulatory scrutiny. Worldcoin has been trying to find a way to stay afloat, but it seems the company is struggling to find a solution.

VanEck Predicts a 10,600% Solana price rally by 2030

Crypto prices - Solana potential 10,600% hike

VanEck has predicted a 10,600% price surge for Solana in the coming years. In a report, VanEck outlined diverse valuation scenarios for Solana’s (SOL) price to range from a conservative $9.81 to an ambitious $3,211.28 by 2030. 

This would mark a 10,600% price surge for Solana in the coming years. The report also delves into a potential scenario where Solana becomes the first blockchain to accommodate applications with over 100 million users. 

Furthermore, the report illustrates Solana’s potential to narrow the distance between itself and Ethereum in the future. 

SOL has emerged as a top 10 cryptocurrency, with impressive growth exceeding 200% since the start of 2023. The total value locked in the Solana ecosystem is $378 million.

First Bitcoin ETF trades, GBTC discount, $69K BTC Price

The first Bitcoin ETF trades and Grayscale Bitcoin Trust (GBTC) recorded a volume of $800 million. 

The sharp uptick in volume in the existing instruments shows that spot Bitcoin ETFs will likely witness huge volumes when they see the light of day. 

The first Bitcoin ETF to get regulatory consent in the U.S. in 2021, ProShares Bitcoin Strategy ETF (BITO), saw its second-biggest trading week ever at $1.7 billion.

Crypto prices: Bitcoin is forecasted to hit $87,000 by 2025

A panel of experts has forecasted that Bitcoin will hit $87,000 by 2025. The panelists included the CEO of Binance, the CEO of Bitmain, and the CEO of Blockstream. 

They believe that Bitcoin will continue to grow in popularity and its price will continue to rise. However, they also warned that there could be some volatility in the short term.

Shiba Inu’s Burn Rate goes parabolic, Surges 5,600%

Shiba Inu’s burn rate has gone parabolic, surging 5,600%. The burn rate is the amount of Shiba Inu coins that are being destroyed. 

This is a positive sign for the cryptocurrency, as the supply of coins is decreasing, which could lead to an increase in price. However, investors should be cautious, as the cryptocurrency market is highly volatile.

US Central Bank eyeing Digital Dollar to counter BRICS Pay

The US central bank is eyeing a digital dollar to counter BRICS pay. The bank is concerned that the rise of digital currencies in other countries could threaten the US dollar’s dominance. 

The bank is exploring the possibility of creating a digital dollar backed by the US government. This would give the US a competitive advantage in the global economy.

Want to know what happened last week on crypto? Here are some highlights that will get you up to speed quickly: Crypto Top News Highlights for The Week.