{"id":90033,"date":"2025-10-19T18:54:44","date_gmt":"2025-10-19T15:54:44","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=90033"},"modified":"2025-10-19T18:59:10","modified_gmt":"2025-10-19T15:59:10","slug":"week-in-review-bitcoins-fresh-correction-and-record-volumes-in-russias-crypto-market","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/week-in-review-bitcoins-fresh-correction-and-record-volumes-in-russias-crypto-market\/","title":{"rendered":"Week in review: bitcoin\u2019s fresh correction and record volumes in Russia\u2019s crypto market"},"content":{"rendered":"<p>The price of digital gold dipped below $104,000; Russia\u2019s crypto market led Europe by volume; a contentious Bitcoin Core update landed; and more from the week.<\/p>\n<h2 class=\"wp-block-heading\">Bitcoin and the market \u2014 another pullback<\/h2>\n<p>At the start of the week the price of the first cryptocurrency continued to recover from the 11 October sell-off. It held above $115,000 before sliding.<\/p>\n<p>The pullback sharply <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-slides-below-105000\">accelerated<\/a> on Friday, 17 October, amid mass liquidations \u2014 mostly of long positions. The price of digital gold fell below $104,000.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"611\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-8bff02ad89ea1e52-7281306676579716-1024x611.png\" alt=\"BTCUSD_2025-10-19_17-57-37\" class=\"wp-image-267795\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-8bff02ad89ea1e52-7281306676579716-1024x611.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-8bff02ad89ea1e52-7281306676579716-300x179.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-8bff02ad89ea1e52-7281306676579716-768x458.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-8bff02ad89ea1e52-7281306676579716.png 1327w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly chart of BTC\/USD on Binance. Source:\u00a0<a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\" target=\"_blank\" rel=\"noreferrer noopener\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>As usual, the flagship\u2019s drop dragged the market lower, with leading altcoins suffering steeper declines.<\/p>\n<p>A rebound lifted bitcoin back to about ~$108,500. Over a volatile week, digital gold fell 2.9%.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"582\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-ad6ff6ca465d8ab6-7281317114402885-1024x582.jpg\" alt=\"Cryptocurrency Prices, Charts, and Crypto Market Cap  CoinGecko - Google Chrome\" class=\"wp-image-267796\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-ad6ff6ca465d8ab6-7281317114402885-1024x582.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-ad6ff6ca465d8ab6-7281317114402885-300x170.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-ad6ff6ca465d8ab6-7281317114402885-768x436.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-ad6ff6ca465d8ab6-7281317114402885.jpg 1278w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source:\u00a0<a href=\"https:\/\/www.coingecko.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>Most other top-10 coins ended the period in the green. Solana rose 5.3%, Ethereum \u2014 4.2%.<\/p>\n<p>BNB was the outlier, down 9.6%. Negative headlines around Binance may have weighed on the token. The community <a href=\"https:\/\/forklog.com\/en\/news\/binance-dismisses-allegations-of-profiting-from-listings-as-defamatory\">accused<\/a> the exchange of selling listings to crypto projects; media <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-10-17\/binance-among-crypto-firms-hit-by-french-money-laundering-checks\">reported<\/a> that France\u2019s regulator had opened a probe into the platform.<\/p>\n<p>Total market capitalisation slipped from $3.9trn to $3.8trn; bitcoin\u2019s dominance eased to 57%.<\/p>\n<p>The <a href=\"https:\/\/forklog.com\/en\/news\/what-is-cryptos-fear-and-greed-index\">Crypto Fear and Greed Index<\/a> failed to exit negative territory. A reading of 29 signals fear in the market.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-efe2c7ab076673b3-7281333492093302.webp\" alt=\"Crypto Fear &#038; Greed Index - Bitcoin Sentiment - Alternative.me - Google Chrome\" class=\"wp-image-267797\"\/><figcaption class=\"wp-element-caption\">Source:<a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/#google_vignette\"> Alternative<\/a>.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">Chainalysis: Russia\u2019s crypto market hit a record $376bn<\/h2>\n<p>From July 2024 to June 2025, Russia\u2019s crypto-market volume reached $376bn, putting the country first among European nations, the Chainalysis report <a href=\"https:\/\/forklog.com\/en\/news\/chainalysis-russias-crypto-market-hits-a-record-376bn\">says<\/a>.<\/p>\n<p>Britain, traditionally in top spot, slipped to second with $273.2bn. Germany ($219.4bn), Ukraine ($206.3bn) and France ($180.1bn) rounded out the top five.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"666\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-14d9c86fe1d348a1-7281345177492751-1024x666.png\" alt=\"2025-geos-report-formatted-charts-5-1500x975\" class=\"wp-image-267798\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-14d9c86fe1d348a1-7281345177492751-1024x666.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-14d9c86fe1d348a1-7281345177492751-300x195.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-14d9c86fe1d348a1-7281345177492751-768x499.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-14d9c86fe1d348a1-7281345177492751.png 1500w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: Chainalysis.<\/figcaption><\/figure>\n<p>Analysts also recorded a record rise in crypto-transaction volumes attributable to Russia, reaching $379.3bn.\u00a0<\/p>\n<p>A key driver was more large institutional transfers. Transactions over $10m jumped 86%, nearly twice the European average.<\/p>\n<h2 class=\"wp-block-heading\">What to discuss with friends?<\/h2>\n<ul class=\"wp-block-list\">\n<li>Paxos mistakenly <a href=\"https:\/\/forklog.com\/en\/news\/paxos-accidentally-mints-300-trillion-pyusd\">minted<\/a> 300 trillion PYUSD.<\/li>\n<li>Study: politeness <a href=\"https:\/\/forklog.com\/en\/news\/study-reveals-politeness-reduces-ai-response-accuracy\">reduces<\/a> the accuracy of AI responses.<\/li>\n<li>Hyperliquid\u2019s co-founder <a href=\"https:\/\/forklog.com\/en\/news\/hyperliquid-co-founder-says-cex-liquidation-totals-may-be-underreported-by-up-to-100x\">suggested<\/a> liquidation volumes on CEXs may be understated by 100x.<\/li>\n<li>Google <a href=\"https:\/\/forklog.com\/en\/news\/google-and-yale-unveil-ai-model-for-cancer-treatment\">developed<\/a> an AI model for cancer treatment.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Developers released a contentious Bitcoin Core update<\/h2>\n<p>The Bitcoin Core team <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-core-developers-release-controversial-update\">released<\/a> client version v30, prompting a mixed reaction from the community.<\/p>\n<p>All previous builds are deemed \u201cfinal\u201d and will no longer receive updates.<\/p>\n<p>Version v30 includes bug fixes, changes to base fee rates, and improvements to performance and mining interaction.<\/p>\n<p>The key change is a bump in the data-carrier limit in <a href=\"https:\/\/forklog.com\/en\/news\/what-is-op_return-and-how-does-it-enable-data-storage-on-the-bitcoin-network\">OP_RETURN<\/a> outputs from 80 to 100,000 bytes. That will greatly increase the scope for non-financial transactions on the network. Users can still set a manual cap via the -datacarriersize option.<\/p>\n<p>The proposal to lift the limit was submitted in April by bitcoin developer <a href=\"https:\/\/forklog.com\/en\/news\/peter-todd-unlikely-creator-of-bitcoin\">Peter Todd<\/a>.<\/p>\n<p>The initiative split the community. Opponents argue it encourages non-financial uses that bloat and congest the blockchain. Another concern is the potential spread of illegal content, for which node operators could face criminal liability.<\/p>\n<p>Proponents counter that users will find other ways to post arbitrary data anyway, and miners have both the ability and the incentives to include such transactions in blocks.<\/p>\n<p>Since the Bitcoin Core team announced in June that v30 would lift the limit, the client\u2019s market share has fallen from 88% to 78%. The beneficiary has been the rival Bitcoin Knots, which offers stricter filters. More than 21% of nodes now run it.<\/p>\n<h2 class=\"wp-block-heading\">Tether unveils open-source wallet development kit<\/h2>\n<p>Tether, issuer of the most popular stablecoin <a href=\"https:\/\/forklog.com\/en\/news\/what-is-tether-usdt\">USDT<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/tether-unveils-open-source-wallet-development-kit\">unveiled<\/a> an open-source wallet development kit (WDK).<\/p>\n<p>According to the company\u2019s website, the toolkit is \u201cbuilt for people, machines and <a href=\"https:\/\/forklog.com\/en\/news\/what-are-ai-agents-and-how-do-they-make-life-easier-for-web3-users\">AI agents<\/a>.\u201d Multi-chain wallets can be integrated into any device \u2014 \u201cfrom the smallest embedded systems to mobile, desktop and server platforms\u201d.\u00a0\u00a0<\/p>\n<p>Developers argue that non-custodial wallets are the foundation of a free and open financial system. They \u201ccreate a resilient infrastructure, immune to interference or control by centralized entities\u201d.\u00a0<\/p>\n<p>With WDK\u2019s open source, anyone can build \u201ctheir own independent, secure, permissionless solutions\u201d.<\/p>\n<p><strong>Also on ForkLog:<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>Gold\u2019s market capitalisation <a href=\"https:\/\/forklog.com\/en\/news\/golds-market-capitalisation-tops-30trn-for-the-first-time\">reached<\/a> $30trn for the first time.<\/li>\n<li>OpenSea <a href=\"https:\/\/forklog.com\/en\/news\/jupiter-dex-aggregator-launches-ultra-v3-protocol\">is overhauling<\/a> its business and will issue a token.<\/li>\n<li>Canaan <a href=\"https:\/\/forklog.com\/en\/news\/canaan-unveils-eco-friendly-mining-solution-shares-surge-by-40\">unveiled<\/a> a green mining solution. The firm\u2019s shares jumped 40%.<\/li>\n<li>DEX aggregator Jupiter <a href=\"https:\/\/forklog.com\/en\/news\/jupiter-dex-aggregator-launches-ultra-v3-protocol\">introduced<\/a> the Ultra v3 protocol.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Ethereum developers successfully deployed Fusaka on the Sepolia testnet<\/h2>\n<p>On 14 October a test version of Ethereum\u2019s major upgrade, Fusaka, was successfully <a href=\"https:\/\/forklog.com\/en\/news\/ethereum-developers-successfully-deploy-fusaka-on-sepolia-testnet\">deployed<\/a> on Sepolia.<\/p>\n<p>Activation took 20 minutes, according to reports.\u00a0<\/p>\n<p>The next step is testing the upgrade on Hoodi \u2014 scheduled for 28 October. On 3 December the hard fork will be <a href=\"https:\/\/forklog.com\/en\/news\/ethereum-developers-confirm-fusaka-deployment-timeline\">deployed<\/a> on the mainnet of the second-largest cryptocurrency.\u00a0<\/p>\n<p>Fusaka\u2019s main goal is to improve Ethereum\u2019s scalability and efficiency. The key change is introducing the PeerDAS protocol (EIP-7594). It is expected to double network throughput.<\/p>\n<h2 class=\"wp-block-heading\">What else to read?<\/h2>\n<p>We <a href=\"https:\/\/forklog.com\/en\/news\/silicon-tanks-richard-stallman-father-of-copyleft\">recalled<\/a> in a new piece in the \u201cSilicon Tanks\u201d series how hacker Richard Stallman sparked a revolution in software freedom by creating copyleft licences. The concept was recently <a href=\"https:\/\/forklog.com\/en\/news\/vitalik-buterin-advocates-copyleft-licenses-to-combat-monopolies\">endorsed<\/a> by Ethereum co-founder Vitalik Buterin.\u00a0<\/p>\n<p>In our series on the Global South, we <a href=\"https:\/\/forklog.com\/en\/news\/the-archipelago-of-memeland\">examined<\/a> the digital paradox faced by Indonesia, the world\u2019s fourth-most-populous country, whose chief asset is its young generation.<\/p>\n<p>In the regular digest we <a href=\"https:\/\/forklog.com\/en\/news\/us-seizes-15bn-in-bitcoin-from-cambodian-gang-leader-khmelnytskyi-crypto-ring-and-other-cybersecurity-news\">rounded up<\/a> the week\u2019s main cybersecurity events.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of digital gold dipped below $104,000; Russia\u2019s crypto market led Europe by volume; a contentious Bitcoin Core update landed; and more from the week.<\/p>\n","protected":false},"author":1,"featured_media":90034,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Bitcoin dips below $104k; Russia tops Europe by crypto volume; Bitcoin Core v30 stirs debate.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1233,1244],"class_list":["post-90033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-industry-digests","tag-weekly-summary"],"aioseo_notices":[],"amp_enabled":true,"views":"148","promo_type":"1","layout_type":"1","short_excerpt":"Bitcoin dips below $104k; Russia tops Europe by crypto volume; Bitcoin Core v30 stirs debate.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=90033"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90033\/revisions"}],"predecessor-version":[{"id":90035,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90033\/revisions\/90035"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/90034"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=90033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=90033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=90033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}