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Is The Crypto Bounce Over?
Plus, why Robinhood put BTC on its balance sheet.
Ivan & Khyathi Dalal
October 07, 2026
Happy Wednesday!
Bitcoin is having a bad day at the office and crashed as low as $83,000. ETH and XRP are not doing any better. Why is crypto suddenly going down again?
Robinhood has joined Strategy and Tesla as Bitcoin holder. The company sees the move not as a major change in strategy but as part of its overall crypto push.
Plus, the AI trade is evolving, and investors are looking beyond the biggest names to understand where the next opportunities may emerge. Register now to hear the latest perspectives on where the AI trade could be headed next.
TOP STORY
Bitcoin is down to $83,500 Wednesday as Ethereum dropped 4.5% and XRP fell 3.5%, putting crypto’s recent comeback to the test.
Traders are watching Bitcoin’s $82,800 support level: a break could deepen the pullback, while holding the range into the weekly close may squeeze futures shorts.
Profit-taking is adding pressure, but spot-market signals suggest bears have yet to force a breakdown.
Who will break first?
SPONSORED BY
The AI trade is evolving, and investors are looking beyond the biggest names to understand where the next opportunities may emerge.
Nvidia remains at the heart of the AI spending boom, while companies like Anthropic are helping reshape the competitive landscape. At the same time, growing AI investment is creating potential opportunities across semiconductors, infrastructure, software, and other areas of the market.
Join Gianni DiPoce and Direxion’s Eliott Wellenbach for a timely discussion on what’s driving the next phase of the AI trade and what investors should be watching as AI spending continues to expand.
Register now to hear the latest perspectives on where the AI trade could be headed next.
MARKET MINUTES
Arthur Hayes is bullish on Bitcoin doing well if AI crashes. How exactly that would work? He laid out his thesis at the Token 2049 conference.
Bitcoin is reeling and one analyst that shorted the top last year is now bearish again. He is loading shorts from higher and shared his entire gameplan.
Donald Trump winning the midterms doesn’t look too likely at the moment. But if he does, that could spark a golden run for crypto, according to one prominent analyst.
FINTECH FOCUS
Robinhood has added $25 million in Bitcoin to its balance sheet, joining corporate holders like Strategy and Tesla.
A senior executive called the purchase a signal of the company’s commitment to Bitcoin and the crypto community — not a major shift in strategy.
The move comes as Robinhood expands its crypto push, with plans for perpetual futures trading and an on-chain network supporting 24/7 stock-token trading.
Robinhood Chain has reached $1.05 billion in total value locked, while HOOD shares are testing the 50-day moving average after pulling back from recent highs.
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