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Hey crypto addicts,

Bitcoin could be approaching a new accumulation phase by November, according to research from VanEck, as several long-term capitulation indicators suggest the market may be entering the final stages of its correction. The firm noted that eight of its twelve historical capitulation signals remain active, a pattern that has previously appeared near major market bottoms.

Despite ongoing market uncertainty, institutional demand has remained relatively resilient, while long-term holders continue to absorb selling pressure. VanEck believes that if spot demand improves and large-scale distribution eases over the coming months, Bitcoin could transition from capitulation into accumulation before the next sustained recovery begins.

Although no indicator can precisely predict a market bottom, the current data suggests Bitcoin may be moving into a phase where long-term investors gradually rebuild positions. If historical patterns repeat, the coming months could mark an important transition from prolonged weakness toward the early stages of the next market cycle.

What we’ve covered for you today:

  • Maya Network Halted

  • Coldcard Investigation Advances

  • Kalshi Eyes Expansion

  • And more… 📰

Market Watch

Maya Network Halted

Maya Protocol has temporarily halted its cross-chain network after suffering a $1.7 million exploit caused by a chain of software vulnerabilities. The attacker drained Bitcoin and other digital assets, prompting the team to suspend swaps and transactions while engineers investigate the incident and deploy security fixes.

The exploit triggered a sharp decline in Maya Protocol's native CACAO token as investors reacted to the breach. Developers say their immediate priority is securing user funds, fixing the vulnerabilities and safely restoring normal network operations.

The incident highlights the ongoing security challenges facing cross-chain DeFi protocols. As decentralized finance continues to grow, projects are placing greater emphasis on smart contract audits, continuous monitoring and rapid incident response to strengthen resilience against future attacks.

Coldcard Investigation Advances

Investigators believe they may have uncovered a key lead in the Coldcard wallet theft that resulted in the loss of 1,082 BTC during the first wave of the exploit. Blockchain analysis reportedly traced the attack to a paid blockchain data account, creating an off-chain trail that could help law enforcement identify the individual responsible.

Despite the breakthrough, the FBI has not publicly confirmed the identity of a suspect, announced any arrests or recovered the stolen Bitcoin. The funds from the initial theft also remain untouched, leaving open the possibility that they could eventually be traced or seized if investigators identify the attacker.

The case highlights how modern crypto investigations increasingly combine blockchain analysis with off-chain digital evidence to track illicit activity. While recovering the stolen funds remains uncertain, the investigation demonstrates that even sophisticated crypto thefts can leave a trail that authorities may ultimately be able to follow. ☕

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Kalshi Eyes Expansion

Kalshi is seeking approval from the U.S. Commodity Futures Trading Commission (CFTC) to launch perpetual futurestied to a broad U.S. stock index and copper, expanding its product lineup beyond cryptocurrencies. If approved, traders would gain access to never-expiring futures contracts on traditional assets, bringing one of crypto's most popular trading products into regulated financial markets.

The proposal builds on Kalshi's earlier success with regulated Bitcoin perpetual futures and represents another step toward integrating digital trading innovations with traditional finance. Unlike conventional futures, perpetual contracts have no expiry date, allowing traders to maintain positions continuously while using a funding mechanism to keep prices aligned with the underlying market.

If the CFTC approves the application, Kalshi would become one of the first regulated U.S. platforms to offer perpetual futures on major equity and commodity markets. The move could reshape derivatives trading by expanding access to crypto-style products while increasing competition with established futures exchanges.

X Segement

Crypto Coffee Reads

Ripple has raised $275 million through an investment-grade senior note offering to accelerate the expansion of its U.S. institutional prime brokerage business, Ripple Prime. The funding will support services including prime brokerage, institutional lending and multi-asset clearing as the company deepens its presence in traditional financial markets.

Interstice Digital and FalconX have launched a non-custodial cross-chain swap engine connecting the Canton Network with Ethereum, Solana and Robinhood Chain, allowing institutional users to move tokenized assets across multiple blockchains without surrendering custody of their funds.

Cypherpunk Technologies has launched what it says is the world's largest Zcash mining operation after acquiring a $33.33 million mining fleet from Winklevoss Capital. The new operation controls roughly 18% of the Zcash network's hashrate, marking the company's transition from simply holding ZEC to actively mining it.

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