Breaking: Understanding Today’s Cryptocurrency Market Downturn on Oct. 10

- Polymarket secures CFTC approval to resume U.S. operations under a regulated framework after a 2022 $1.4M fine for unregistered derivatives trading. - The platform now complies with federal requirements including real-time surveillance and trade reporting, partnering with ICE after a $2B investment. - Its re-entry enables U.S. brokerages to integrate prediction markets, boosting liquidity and attracting traders previously excluded by regulatory barriers. - The $10B valuation surge and strategic QCX acqui

- Mutuum Finance's Phase 6 presale nears 95% allocation at $0.035, raising over $19M with 250% price growth since Phase 1. - The DeFi protocol offers non-custodial P2C/P2P lending, mtToken yield mechanisms, and plans for stablecoins/cross-chain expansion. - Dual audits by Halborn and CertiK, plus Q4 2025 testnet launch plans, bolster credibility as 18,200+ holders compete for tokens. - With 800M+ tokens sold and Phase 7 approaching $0.04, the project aims to redefine lending through user-controlled, incent

- Bitcoin drops 31% to $82,000 as 2025 market cycle mirrors 2021's bull run, testing critical $84,000–$86,000 support levels amid rising U.S. yields and Fed hawkishness. - Institutional inflows into FBTC/IBIT and whale accumulation counter macro headwinds, with JPMorgan upgrading miners and projecting 2026 rebound potential. - Current market differs from 2021 with institutional focus on utility-driven use cases (cross-border payments, DeFi) and regulatory progress like Ripple's RLUSD approval in UAE. - Fed

- Arthur Hayes warns most L1 blockchains outside Ethereum and Solana face collapse due to lack of utility and structural viability. - He criticizes projects like Monad for high FDV and low float, predicting 99% crashes when early investors unlock tokens. - Ethereum's modular architecture and Solana's speed-positioned for 2026 dominance-contrast with fragmented L2 ecosystems. - Hayes backs privacy coins like Zcash, citing institutional interest and potential growth from global liquidity expansion. - He fore