Overall Market Situation
The crypto market is still trying to break through resistance around $2.95 trillion. At the start of European trading, market capitalization fell slightly to $2.93 trillion, but a short-term uptrend has been emerging since Friday. Interest in cryptocurrencies remains strong despite the strengthening dollar, largely thanks to the fairly robust growth of stock indices. Looking at the top gainers over the past 24 hours, they are Cardano (+11.1%), The Graph (+7.1%), and Near Protocol (+6.9%). Meanwhile, the worst performers were BAT (-3.9%), Immutable (-2%), and Internet Computer (-1.1%).
As for Bitcoin, on Monday morning it briefly rose above $87,000. This had already happened on Friday and on September 23, when sharp sell-offs began at this level. It is noticeable that since the beginning of last week, local lows have been getting higher and higher, but the “bulls” have been unable to gain momentum. The price has approached the very top of the triangle formed between horizontal resistance and rising support. Therefore, we should prepare for increased volatility as soon as the price breaks out of this pattern.
Near Protocol is not just among the day’s leaders right now. Over the past month, the coin has surged by nearly 130%. After a strong rally from September 16 to 28, a rapid correction followed, but the uptrend resumed over the weekend. The price has returned above $5, which is close to the highs seen at the beginning of the year. This is one of the few genuine recoveries in the altcoin market after the coin plummeted to $0.82 eight months ago. Unless the market experiences a sharp reversal, Near Protocol could very well reach the $8 mark by early next year.
News
Analysts at QCP Capital believe that Bitcoin’s recent rise is driven not by an improvement in financial markets, but by an influx of large capital via spot ETFs ($6.1 billion in August and September). If this flow of money dries up, price support could quickly disappear.
According to TheEnergyMag, public mining companies wrote off approximately $1.1 billion in asset value during the first half of 2026. This is due to business restructuring and a shift toward artificial intelligence. In addition, experts estimate the value of decommissioned equipment at another $1.5 billion.
The SEC has proposed new rules for the custody of crypto assets for funds and investment advisors. SEC Chairman Paul Atkins noted that the crypto market is no longer a niche product but has become a multi-trillion-dollar asset class that investors are eager to access.
Meanwhile, the Independent Community Bankers of America (ICBA) is seeking a court order to revise the licensing rules for crypto companies. The ICBA fears that crypto projects could obtain banking status and gain customers’ trust while failing to comply with the same strict requirements for capital, supervision, and deposit insurance as traditional banks.