Bitcoin Climbs as Tech Futures Recover; Bitmine Nears Its Ethereum Treasury Target

Bitcoin rebounded early Monday as U.S. technology futures recovered from last week’s 5.5% decline. Investors are now watching a busy earnings calendar for clues about whether confidence in the AI trade can return, while crypto treasury companies continue building their digital asset reserves.

Bitmine Buys Another 12,535 ETH

Ethereum treasury company Bitmine (BMNR) purchased an additional 12,535 ETH last week, spending approximately $30.4 million at recent prices. The acquisition was almost equal to the amount it bought during the previous week.

Bitmine’s total ether holdings have now reached 6.04 million ETH, putting it about 64,000 tokens below its goal of owning 5% of Ethereum’s supply.

If the company continues buying at its recent pace and Ethereum’s supply remains near current levels, it could achieve the target in roughly five weeks. Chairman Tom Lee has previously said Bitmine will stop accumulating ETH once it reaches that threshold.

Metaplanet Advances Its U.S. Bitcoin Treasury Plans

Metaplanet has moved a step closer to expanding into the U.S. market after Super League shareholders approved its proposed takeover, according to CEO Simon Gerovich.

The transaction is expected to lead to a rebrand as Superplanet (SUPA), a U.S.-listed Bitcoin treasury platform. Upon completion, Metaplanet will contribute 2,100 BTC from its existing 44,000 BTC holdings and $2.5 million in cash in exchange for an approximately 93.7% stake. Its shares will be locked up for five years.

Superplanet intends to increase its Bitcoin holdings per share mainly by issuing non-convertible perpetual preferred stock, potentially providing Metaplanet with greater access to U.S. capital markets.

Strategy Adds Bitcoin as Strive Expands Its Holdings

Strategy (MSTR), Michael Saylor’s Bitcoin treasury company, bought 267 BTC last week, bringing its total holdings to 848,517 coins.

It also repurchased $193 million in STRC preferred shares and increased its buyback program from $2 billion to $3 billion. STRC fell to $97.72 during the recent market sell-off, a development that could encourage Strategy to continue repurchasing shares rather than issuing more stock to finance Bitcoin purchases.

Strive (ASST), meanwhile, acquired another 1,223 BTC, taking its total reserve to 36,818 coins. The company expects to receive $600 million in proceeds from its SATA preferred-stock IPO later this week, potentially giving it more capital for further acquisitions.

SATA shares also declined during last week’s market turbulence, falling to $96.83 after trading at or above their $100 par value for several weeks. That earlier premium had helped Strive use the instrument to finance Bitcoin purchases.

Wall Street’s VIX Falls 5%

The Cboe Volatility Index dropped 5% to just below 19 on Monday, indicating a retreat in expected near-term volatility across the S&P 500.

The index, widely known as Wall Street’s fear gauge, had jumped more than 20% on Friday to nearly 20 as AI-related stocks sold off. Similar Friday spikes have often eased by the start of the following week, although lower volatility does not necessarily mean market concerns have disappeared.

French Government Bonds Under Pressure

European markets failed to follow the early recovery in U.S. equity futures. The Euro Stoxx 50 fell 1.3%, while France’s CAC 40 declined 1.65% following weekend unrest.

French bond yields rose more sharply than their German counterparts. The 10-year French OAT yield gained 11 basis points to 4.89%, while Germany’s 10-year Bund yield rose 3.5 basis points to 3.44%. The gap between the two yields widened to 145 basis points, the largest spread in two weeks.

Bitcoin’s Bounce May Be Temporary, FxPro Analyst Says

Bitcoin gained 1.4% over the weekend to around $82,800 after buyers defended its 50-day moving average once again. However, FxPro chief market analyst Alex Kuptsikevich described the move as a rebound rather than a confirmed return to upward momentum.

The 50-day moving average, currently near $81,000, has supported Bitcoin during each dip since last Tuesday. Holding above this level helps preserve the medium-term trend, but a stronger breakout would be needed to confirm renewed bullish momentum.

Kuptsikevich pointed to last summer, when Bitcoin traded 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 the end of October, a seasonal pattern that crypto investors hope will help recover recent losses.

AI-Linked Stocks Recover After Heavy Selling

Galaxy Digital (GLXY) and several other companies exposed to AI data-center infrastructure rose in premarket trading after last week’s sharp declines.

StoneX analyst Mark Palmer argued that Galaxy’s valuation appeared to assume its data-center tenant CoreWeave (CRWV) had already failed and that no replacement customers would be found. Palmer maintained his buy rating and $57 price target on Galaxy. Its shares rose 3% before the market opened to $16.80, following a 20% decline last week.

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

Musk Says He Plans to Give SpaceX Shares to U.S. Children

Elon Musk announced that he plans to give one SpaceX share to every child in the United States next year, adding that the initiative would be the first of several planned efforts.

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

Oil Prices Recover Amid Middle East Security Concerns

Oil prices bounced from their Asian-session lows as concerns grew over a possible escalation of tensions in the Middle East.

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

Reports said the United States had issued security warnings covering 12 locations across the Middle East, including Saudi Arabia, the United Arab Emirates, Kuwait, Jordan, Bahrain, Oman, Iran, Qatar, Iraq, Lebanon, Yemen and Israel/Jerusalem. The alerts warned U.S. citizens about possible flight cancellations and airspace closures.

The developments renewed fears of potential U.S. strikes on Iran and further disruptions to oil shipments through the Strait of Hormuz.

Bitcoin Fails to Hold Above $83,000

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

BTC remained up 0.3% over 24 hours, but resistance around $84,000 continued to limit its recovery. The level had rejected Bitcoin on October 13 and October 14.

The initial rebound tracked improving sentiment in technology markets. Nasdaq 100 futures gained 1.1% after a 5.5% weekly decline, while S&P 500 futures rose 0.5%. A semiconductor-focused ETF advanced 3% before the U.S. opening bell, potentially ending a nine-session losing streak.

European shares moved lower, with the Stoxx 600 down 0.8% following the unrest in France. French bonds led the decline in European government debt, the euro weakened against major currencies, the dollar was little changed, and Brent crude slipped from a five-month high.

Bitcoin’s next important hurdle remains $84,000. A sustained break above that level would provide an early indication that the recovery in technology stocks is helping support a broader crypto-market rebound.