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Cryptocurrency valuations staged a modest recovery this week as investor appetite for digital assets returned after the recent market crash.
In a silver lining to the correction, the $19 billion liquidation event may be seen as a buying opportunity by investors, a dynamic that could fuel Bitcoin’s (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) rise above $200,000 before the end of the year, according to Standard Chartered’s global head of digital assets research, Geoff Kendrick.
However, a <a href="https://cointelegraph.com/news/bitcoin-etf-inflows-risks-btc-price-level-bitfinex-analysts" rel="noopener noreferrer nofollow">lack of inflows</a> from the US spot Bitcoin exchange-traded funds (ETFs) continues to limit Bitcoin’s upside momentum.
Due to the lack of investment, Bitcoin is on track for its <a href="https://cointelegraph.com/news/worst-uptober-ever-bitcoin-price-risks-first-red-october-in-8-years" rel="noopener noreferrer nofollow">worst October performance</a> since 2013, the last time it closed the historically bullish month in the red.
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 <img src="https://s3.cointelegraph.com/uploads/2025-10/019a15b1-976e-7023-8ec3-b4f9c8830226" title="" alt="$19B crypto crash opens door to $200K Bitcoin in 2025: Finance Redefined">
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 Bitcoin ETF inflows, weekly, all-time chart. Source: Sosovalue.com
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<h2 id="19-billion-market-crash-paves-way-for-bitcoin-s-rise-to-200-000-standard-chartered">$19 billion market crash paves way for Bitcoin’s rise to $200,000: Standard Chartered</h2>
Bitcoin may still be on track to reach $200,000 by the end of the year, even after a record $19 billion market liquidation and renewed tariff threats from US President Donald Trump, according to Standard Chartered’s global head of digital assets research, Geoff Kendrick.
The crypto market experienced a record <a href="https://cointelegraph.com/news/19b-crypto-market-crash-controlled-deleveraging-cascade-analyst" rel="noopener noreferrer nofollow">$19 billion liquidation event</a> on the weekend of Oct. 10, which caused Bitcoin’s price to dip to a four-month <a href="https://cointelegraph.com/news/bitcoin-crash-104k-flush-not-crypto-cycle-failure" rel="noopener noreferrer nofollow">low of $104,000</a> by Friday, Cointelegraph reported at the time.
As the dust settles after the massive liquidation event, investors may see it as a buying opportunity. This dynamic may fuel a Bitcoin rally to $200,000 by the end of 2025, Kendrick said. Despite the volatility, he remained confident that Bitcoin will rebound as markets stabilize.
“My official forecast is $200,000 by the end of the year,” he told Cointelegraph during an exclusive interview at the 2025 European Blockchain Convention in Barcelona.&nbsp;
Despite the “Trump noise around tariffs,” Kendrick said he still sees a price rise “well north of $150,000” in the bear case for the end of the year, assuming the US Federal Reserve continues cutting interest rates to meet market expectations.
<a href="https://cointelegraph.com/news/19b-market-crash-buying-opportunity-fuel-bitcoin-200k-standard-chartered" rel="noopener noreferrer nofollow">Continue reading</a>
<h2 id="hong-kong-approves-its-first-spot-solana-etf-ahead-of-us">Hong Kong approves its first spot Solana ETF ahead of US</h2>
Hong Kong approved its first spot Solana ETF, marking the third spot crypto ETF approved by the city after Bitcoin and Ethereum.
On Wednesday, the Hong Kong Securities and Futures Commission (SFC) granted approval for the China Asset Management (Hong Kong) Solana ETF, which will be listed on the Hong Kong Stock Exchange, <a href="https://inews.hket.com/article/4025751/%E5%8A%A0%E5%AF%86%E8%B2%A8%E5%B9%A3%EF%BD%9C%E9%A6%99%E6%B8%AF%E9%A6%96%E5%AE%B6Solana%20ETF%E7%8D%B2%E6%89%B9%E3%80%80%E6%88%90%E6%AF%94%E7%89%B9%E5%B9%A3%E4%BB%A5%E5%A4%AA%E5%B9%A3%E5%A4%96%E5%8F%A6%E4%B8%80%E5%8A%A0%E5%AF%86%E8%B2%A8%E5%B9%A3%E7%8F%BE%E8%B2%A8ETF" rel="noopener noreferrer nofollow" target="_blank">according</a> to a report by the Hong Kong Economic Times.
The product will include Chinese yuan counters and US dollar counters, meaning it can be traded and settled in both currencies. Each trading unit will consist of 100 shares, with a minimum investment of about $100. The fund is expected to debut on Monday.
The ETF’s virtual asset trading platform will be operated by OSL Exchange, while OSL Digital Securities will serve as sub-custodian. ChinaAMC has set a management fee of 0.99%, with custody and administrative fees capped at 1% of the sub-fund’s net asset value, resulting in an estimated annual expense ratio of 1.99%.
<a href="https://cointelegraph.com/news/hong-kong-approves-first-solana-spot-etf" rel="noopener noreferrer nofollow">Continue reading</a>
<h2 id="aave-dao-proposes-50-million-annual-token-buyback-using-defi-revenues">Aave DAO proposes $50 million annual token buyback using DeFi revenues</h2>
Aave’s decentralized autonomous organization (DAO) introduced a proposal to create a long-term, protocol-funded buyback program that would use up to $50 million in annual revenue to repurchase Aave tokens.
The <a href="https://governance.aave.com/t/arfc-aave-buybacks-program-an-update/23290" rel="noopener noreferrer nofollow" target="_blank">proposal</a>, submitted on Wednesday by the Aave Chan Initiative (ACI), seeks to make buybacks a permanent component of Aave’s tokenomics. Under the plan, the Aave Finance Committee (AFC) and TokenLogic would lead the execution, repurchasing $250,000 to $1.75 million in Aave (<a href="https://cointelegraph.com/aave-price-index" rel="noopener noreferrer nofollow">AAVE</a>) tokens weekly, depending on market conditions, liquidity and volatility.&nbsp;
If approved, the proposal will proceed through the Aave Request for Comment (ARFC) stage for community feedback, followed by a Snapshot vote and final onchain governance confirmation. Unlike short-term market interventions, the proposal aims to institutionalize buybacks as a recurring mechanism, making the DAO an active capital allocator.&nbsp;
The ACI said the program builds on the success of other buyback initiatives. In April, Aave soared by 13% as the community <a href="https://cointelegraph.com/news/aave-buyback-proposal-passes-among-holders" rel="noopener noreferrer nofollow">approved a $4 million token buyback</a>.&nbsp;&nbsp;
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 <img src="https://s3.cointelegraph.com/uploads/2025-10/019a15b1-9ac4-765e-abef-d4e66766ac8b" title="" alt="$19B crypto crash opens door to $200K Bitcoin in 2025: Finance Redefined">
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 Aave buyback program proposal summary. Source: Aave governance
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<a href="https://cointelegraph.com/news/aave-dao-50m-annual-buyback-proposal" rel="noopener noreferrer nofollow">Continue reading</a>
<h2 id="china-s-budget-ais-are-trouncing-chatgpt-and-grok-at-crypto-trading">China’s budget AIs are trouncing ChatGPT and Grok at crypto trading</h2>
Chinese artificial intelligence models are outperforming their US counterparts in cryptocurrency trading, according to data from blockchain analytics platform CoinGlass, as competition between leading generative AI chatbots intensifies.
<a href="https://cointelegraph.com/news/ai-chatbots-getting-worse-over-time-academic-paper" rel="noopener noreferrer nofollow">AI chatbots</a> <a href="https://cointelegraph.com/explained/deepseek-explained-what-it-is-and-how-it-works" rel="noopener noreferrer nofollow">DeepSeek</a> and Qwen3 Max, both developed in China, led the ongoing crypto trading experiment on Wednesday, with the former being the only AI model to generate a positive unrealized return of 9.1%.
Qwen3, an AI model developed by Alibaba Cloud, came in second with a 0.5% unrealized loss, followed by Grok with a 1.24% unrealized loss, <a href="https://www.coinglass.com/ai/hyperliquid" rel="noopener noreferrer nofollow" target="_blank">according</a> to blockchain data platform CoinGlass.
OpenAI’s ChatGPT-5 slipped to last place, with a loss of more than 66%, taking its initial account value of $10,000 to just $3,453 at the time of writing.
The results have surprised crypto traders, given that DeepSeek was developed at a fraction of the cost of its US rivals.
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 <img src="https://s3.cointelegraph.com/uploads/2025-10/019a15b1-9ceb-7d32-bc72-555a93293014" title="" alt="$19B crypto crash opens door to $200K Bitcoin in 2025: Finance Redefined">
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 AI models, crypto trading competition. Source: CoinGlass
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DeepSeek’s success came from betting on the crypto market’s rise. The model took <a href="https://cointelegraph.com/explained/leveraged-etfs-explained-how-do-they-work" rel="noopener noreferrer nofollow">leveraged</a> long positions across major cryptocurrencies, such as Bitcoin, Ether (<a href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow">ETH</a>), Solana (<a href="https://cointelegraph.com/solana-price-index" rel="noopener noreferrer nofollow">SOL</a>), BNB (<a href="https://cointelegraph.com/binance-coin-price-index" rel="noopener noreferrer nofollow">BNB</a>), Dogecoin (<a href="https://cointelegraph.com/doge-price-index" rel="noopener noreferrer nofollow">DOGE)</a> and XRP (<a href="https://cointelegraph.com/xrp-price-index" rel="noopener noreferrer nofollow">XRP</a>).
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 <img src="https://s3.cointelegraph.com/uploads/2025-10/019a15b1-9f16-731f-855f-8c9c368d13ae" title="" alt="$19B crypto crash opens door to $200K Bitcoin in 2025: Finance Redefined">
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 DeepSeek crypto portfolio on Wednesday. Source: CoinGlass
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<a href="https://cointelegraph.com/news/chinese-ai-deepseek-qwen-chatgpt-grok-autonomous-crypto-trading" rel="noopener noreferrer nofollow">Continue reading</a>
<h2 id="bnb-wins-uptober-amid-binance-market-crash-scrutiny">BNB wins “Uptober” amid Binance market crash scrutiny</h2>
October is historically one of Bitcoin’s best-performing months, but this year, BNB is stealing the show.
“Uptober” — coined to describe Bitcoin’s typically bullish Octobers — began on a high note this year, when the US government shutdown had just begun. Now, as Washington’s funding deadlock stretches past three weeks, that optimism has faded amid trade tensions and the aftermath of a historic liquidation event.
Meanwhile, BNB, the native token of Binance’s BNB Chain, has set new all-time highs twice this month. The network is experiencing a surge in memecoin trading and is competing directly with Hyperliquid in the decentralized perpetuals market through its Aster platform.
Although BNB has since retreated from its peak, it remains up about 6% since the start of October. Still, these gains are set against the backdrop of growing scrutiny over Binance’s alleged role in the recent market crash.
<a href="https://cointelegraph.com/news/bnb-uptober-binance-market-crash-scrutiny" rel="noopener noreferrer nofollow">Continue reading</a>
<h2 id="strong-defi-market-overview-strong">DeFi market overview</h2>
According to data from <a href="https://pro.cointelegraph.com/users/sign_in" rel="noopener noreferrer nofollow">Cointelegraph Markets Pro</a> and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.
The Zcash (<a href="https://cointelegraph.com/zec-price-index" rel="noopener noreferrer nofollow">ZEC</a>) privacy coin rose over 33% as the week’s biggest winner, followed by memecoin launchpad platform Pump.fun’s (PUMP) token, up 26% during the past week.
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 <img src="https://s3.cointelegraph.com/uploads/2025-10/019a160d-7ba7-76b4-92bb-b531f326935d" title="" alt="$19B crypto crash opens door to $200K Bitcoin in 2025: Finance Redefined">
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 Total value locked in DeFi. Source: DefiLlama
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Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.

$19B crypto crash opens door to $200K Bitcoin in 2025: Finance Redefined

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