Plus: AI Spending Doubts Drag Bitcoin Lower, Starknet Voters Back Post-Quantum Research
Good Morning Lions,
Bitcoin ran up and got slapped back down inside a day, and leveraged traders paid for it. That tells me crypto is still trading alongside the AI-spending trade in stocks. BUT, Monero going green on a red day shows not everything moves as one basket, frens. If the next bounce gets sold just as fast, I think there's more leverage left to clear.
Bitcoin Round Trip Liquidates Leveraged Traders
TL;DR: Bitcoin rose to nearly $85,000 late Wednesday before falling back to about $81,800, a round trip of roughly $3,000. CoinDesk reported that about $431 million in leveraged positions were liquidated during the swing. Monero's XMR rose 11% while most of the market fell.
AI Spending Doubts Drag Bitcoin Lower
TL;DR: Bitcoin fell below $82,000, losing as much as 2.9% in its steepest slide in two weeks, according to CoinDesk. CoinDesk tied the broad selloff to renewed doubts about AI spending that also hit stocks. Its DeFi index dropped 5.6% over the same move.
Starknet Voters Back Post-Quantum Research
TL;DR: Starknet's community backed research into turning the Ethereum layer-2 into an independent, post-quantum layer-1 in a non-binding poll. StarkWare's CEO hopes to publish a draft whitepaper on the plan in November.
Dogecoin Foundation Forms Dogecoin Labs
TL;DR: Dogecoin Labs, formed with the Dogecoin Foundation, will run the MyDoge wallet, DogeOS and Such App, Decrypt reported. MyDoge founder Jordan Jefferson leads the new entity, which aims to build an economy around DOGE.
Cardano Foundation Registers Indian Farmland
TL;DR: The Cardano Foundation said 100,000 farmlands in India are now registered on the Cardano blockchain. The registrations run through a project built with Syngenta Foundation India that links satellite-verified land data to on-chain records.
Apple Breaks From AI Stocks
TL;DR: Apple shares rose 27% in 2026 through mid-to-late October while moving opposite to AI names, Bloomberg reported via Crypto Briefing. The stock's correlation with the Nasdaq-100 hit -0.86 in September, the lowest level since 2005.
David Schwartz Unboxes Fuzzy Cards Packs
TL;DR: Former Ripple CTO David Schwartz posted a photo of himself unboxing physical Fuzzy Cards packs. In the XRP Ledger card game, players burn NFT packs on-chain to receive sealed paper boosters.
Apple went one way while AI names went the other, and Bitcoin followed the AI side down. If BTC ever pulls away from that AI basket the way Apple did, the selling stops coming over from stocks. 🦁 — Khal
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More crypto news, daily, at news.leodex.io. The Daily LEO · Written by the LEO Team, Edited by Khal.