Bitcoin Slips Under $80K as $6.3B in Stablecoins Leaves Binance
Bitcoin lost $80K over the weekend. Nothing broke. The cash just isn’t there.
Stablecoins have been quietly leaving the big exchanges for months, and that’s the real story this week. Meanwhile the GENIUS Act got its first rulebook, and Anthony Anzalone told me every big brand is going to want its own dollar.
This week in 30 seconds:
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📉 BTC lost its 50-day, ETH broke its channel (charts below)
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💵 Exchange stablecoin cash hits a one-year low
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🏛️ First GENIUS Act rulebook is final
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🎙️ Verona’s Anthony Anzalone on why every brand wants its own dollar
💵 The dry powder is leaving the exchanges
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Binance cash at a one-year low. Binance’s stablecoin reserves fell to $41.6B, about $9B below the November 2025 peak, with $6.3B leaving since April. Coinbase Advanced, OKX and Bybit lost another $7.2B between them. Read →
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A rally without fresh cash. BTC climbed more than 30% from its August low to $86,597 on Sep 22 while that cash kept leaving. Average daily BTC volume is down 27% since April, and funding rates sit at the neutral baseline.
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Why it matters. Binance holds more than 70% of all exchange stablecoin reserves. Until its 90-day stablecoin change (now -4.7%) turns positive, breakouts are running on positioning, not new money.
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USDC is shrinking too. USDC lost $4.69B in the 30 days to Oct 25, about 80% of the whole stablecoin sector’s monthly decline. Total supply sits near $300B. Read →
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Next catalyst. The Fed decision on Wednesday, Oct 28.
📈 The charts: Bitcoin loses its 50-day
Scorecard from last issue: I said BTC was neutral leaning bullish as long as $81.5K held. It didn’t. Bitcoin lost it and tagged $79.4K. ❌ On ETH I was bearish below $2,550 and flagged $2,320 as the line. It broke and hit $2,293. ✅ One for two.
Bitcoin (daily)
Bitcoin slipped under its 50-day moving average (about $81.9K) for the first time since the September breakout, and it is chopping just above $80K. EngineeringRobo still reads the weekly as bullish and Smart Money as IN, but the daily and multi-timeframe reads have cooled to Neutral and RSI sits at 43.
My bias: Neutral short term, still bullish on the bigger picture while price holds above the 200-day near $73K.
What I’m watching: A daily close back above $81.9K puts $84K and the $87.4K high back in play. Lose today’s $79.4K low and the September lows at $75K to $76K are next.
Support: $79.4K / $75K to $76K / $73K (200-day) | Resistance: $81.9K (50-day) / $84K / $87.4K
Ethereum (daily)
ETH broke out of the rising channel it has traded in since August and lost $2,419, and it now sits near $2,325, well under its 50-day at about $2,541. EngineeringRobo has the daily, 3H, 45M and multi-timeframe all bearish, with RSI at 34 and Smart Money only at BALANCE.
My bias: Bearish short term. The 200-day near $2,160 is the line that matters.
What I’m watching: A reclaim of $2,419 would put ETH back in the channel. A daily close under $2,290 likely sends it to test the 200-day.
Support: $2,290 / $2,160 (200-day) / $2,000 | Resistance: $2,419 / $2,541 (50-day) / $2,715
Signals powered by EngineeringRobo AI
🎙️ This week’s interview: every company will want its own dollar
Why Verona’s Anthony Anzalone thinks every company will launch a stablecoin
Watch the interview
Verona, the network formerly known as XION, launched verUSD, a dollar stablecoin built for AI agents, with more than $100M in launch commitments. On his fourth time on the show, founder and CEO Anthony Anzalone breaks that into about $60M in committed revenue and $40M in institutional capital, and explains why the first chain to use USDC as gas is now moving to its own dollar. His read on the GENIUS Act: Starbucks, Walmart and every big brand will want a stablecoin of their own. And his honest take on the agent hype: ask what agents are transacting on right now, and the answer is “probably absolutely nothing.” He even tells people not to hold verUSD, because it is built to run in the background.
Watch the full interview on CCS → · Read the interview → · Read the article → · YouTube →
Browse all interviews on the CCS Interview Hub →
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📊 Research pick: stablecoins after GENIUS
What 29 founder interviews say changed between 2025 and 2026
We read every stablecoin conversation on Crypto Coin Show since January 2025 against onchain data to October 2026. Supply is flat near $300B while usage sits at records, founders are moving to payments, and yield is the fault line. Read it next to the Verona interview. Free to read, and free to cite with a link.
🔥 Weekly signal recap
The rest of the week, one line each.
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The OCC finalized its GENIUS Act rule, effective Jan 18, 2027. Applications aren’t open yet. CCS →
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Nine companies, including Verizon and UnitedHealth, block their shares from OKXICE, and Nasdaq is staying off it too. CCS →
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CME sues the CFTC over classifying crypto perps as futures instead of swaps. CCS →
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Ethereum developers pull Glamsterdam from its Oct 26 testnet date over risks to contracts already deployed. No new date yet. CCS →
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Past guest Birdeye launches Peak, a terminal that filters out bot trades. Birdeye estimates bots drive about two-thirds of crypto trades. CCS →
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Bitwise counts a record 40.2M ETH staked as institutions keep adding despite falling prices. CCS →
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New York’s Gaming Commission sues Kalshi for ignoring July subpoenas on sports wagering. CCS →
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A judge dismisses all charges against Milei in the LIBRA meme coin collapse. CCS →
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Foundation’s Cloudflare API keys were compromised, letting attackers send phishing from its domains. Double-check any Foundation email. CCS →
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ZachXBT traces $20M in exploit proceeds through FreedomXMR on Hyperliquid. CCS →
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Mt. Gox pushes its repayment deadline to October 2027 with 34,388 BTC still in its wallets. CCS →
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France accounts for 33 of 52 wrench attacks worldwide this year. Keep your holdings private. CCS →
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Zcash’s NU7 upgrade cuts block times to 25 seconds starting Nov 5. CCS →
✍️ Ashton’s take
This is a liquidity story, not a panic
Bitcoin slipped under $80K this weekend and the mood cooled to Neutral. To me that still isn’t panic selling. It’s a market that ran out of fresh cash.
Stablecoins have been leaving the exchanges since April. Bitcoin still ran 30% off the August low anyway, mostly on leverage. So when that cash starts coming back to Binance, I think that’s what fuels the next move. That’s the number I’m watching right now.
Off the exchanges, the stablecoin story has never been stronger. The first GENIUS Act rulebook is written, and in my interview this week Anthony Anzalone made the case that every big brand will want its own dollar. The rails are being built while price chops.
Next up is the Fed on Oct 28. I still think the bear market is behind us, and I’d treat this as a reset before the push back toward the high $80Ks, not the start of something worse.
Ashton Addison
CEO, Crypto Coin Show & BlockWest
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