Bitcoin may surge to nearly $170,000 in the next six to twelve months as market leverage resets and volatility improves against gold, according to JPMorgan analysts led by Nikolaos Panigirtzoglou. The bank noted that the crypto market recently corrected by about 20%, following major liquidations in perpetual futures—the largest in crypto history—yet the deleveraging phase now appears largely complete.

Analysts highlighted that the ratio of open interest in bitcoin futures to market capitalization has returned to normal levels, signaling market stabilization. Despite minor redemptions in exchange-traded funds, overall investor activity remains steady. Ethereum has shown similar patterns, though with less pronounced effects.

The report added that rising gold volatility has made Bitcoin more attractive on a risk-adjusted basis. JPMorgan estimates Bitcoin’s fair value at around $170,000, reflecting a potential 67% increase from current levels near $103,000. The bank believes this shift underscores renewed investor confidence in the crypto market’s long-term outlook.

Bank of England Deputy Governor Sarah Breeden announced that the central bank’s long-awaited stablecoin regulatory framework will launch on November 10, aiming to keep pace with the U.S. in digital asset oversight. Breeden dismissed concerns that the UK is falling behind, emphasizing that the new system will be “up and running just as quickly as the U.S.”
The new rules will initially target “systemic” stablecoins — those expected to see widespread use for payments — while other tokens will remain under the Financial Conduct Authority’s lighter regulatory regime. Proposed limits include temporary transaction caps of £20,000 ($26,000) for individuals and £10 million for businesses, reflecting the UK’s efforts to safeguard its bank-based mortgage market from rapid deposit outflows.
This move signals Britain’s intent to stay competitive in the global crypto space. The UK government recently appointed a “digital markets champion” to promote blockchain adoption, and the Financial Conduct Authority lifted its four-year ban on retail crypto exchange-traded notes.

Bloomberg

Excitement surged at Ripple’s Swell conference in New York as Steven McClurg, CEO of Canary Capital, announced plans to launch the first-ever XRP Exchange-Traded Fund (ETF) next week. If approved, XRP will join Bitcoin and Ethereum as one of the few cryptocurrencies with a U.S. spot ETF — a historic moment for Ripple and the broader crypto industry.

McClurg highlighted that the XRP Ledger (XRPL) is now competing directly with Wall Street’s financial infrastructure. He described it as modern “financial rails” capable of transforming cross-border payments and slashing global remittance fees from as high as 15% to near zero. The move underscores Ripple’s mission to make payments faster and more affordable worldwide.

Canary Capital’s fast-track filing under new SEC rules could see the ETF go live by November 13, even amid potential government delays. With analysts predicting up to $10 billion in inflows, experts say XRP’s entry into the ETF market could redefine crypto investing in 2025.

Japanese tech giant Metaplanet has withdrawn $100 million from its new $500 million credit line to buy more Bitcoin, reinforcing its reputation as “Asia’s MicroStrategy.” While most corporations are cutting exposure as Bitcoin dips below $100,000, Metaplanet is betting big on a crypto rebound.

The company confirmed the loan is fully backed by existing Bitcoin reserves and will be used to expand its long-term accumulation strategy. It also plans to grow its Bitcoin Income Generation initiative, which includes selling cash-secured put options and launching a $500 million share repurchase program to boost shareholder value.

Part of its ambitious “555 Million Plan,” Metaplanet aims to hold 210,000 BTC by 2027 — nearly 1% of Bitcoin’s total supply. Having already surpassed its 2025 target with 30,823 BTC, the firm now ranks as the fourth-largest corporate Bitcoin holder globally, solidifying its position as Asia’s strongest Bitcoin backer amid a cautious market.

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