Markets
What You Need to Know (And You Definitely Should Care):
- Marathon Digital Holdings, clearly feeling lucky, snatched up 400 BTC worth around $45.9 million after the latest crypto rollercoaster.
- Bitcoin dropped like your favorite soap opera character, crashing nearly 13% thanks to U.S.-China tariff drama. But, don’t worry, it’s trying to bounce back.
- Analysts are whispering that Bitcoin can’t seem to hold onto any gains above its resistance levels, and they’re eyeing a potential retest of $100,000. Drama, much?
The Saga Continues:
Ah, Marathon Digital Holdings, the savvy crypto miner, couldn’t resist jumping on the Bitcoin bandwagon amid the chaos of Friday’s market meltdown, according to Arkham Intelligence (yeah, they’ve got data). It looks like they bought an extra 400 BTC through FalconX, racking up a whopping $45.9 million bill for the privilege. Must be nice to have that kind of money lying around, huh?
With this new acquisition, Marathon now holds a staggering 52,850 BTC, worth a cool $6.06 billion (yes, billion). A bit more than the average person’s savings, don’t you think?
In case you’re wondering, this isn’t the first time big companies and miners have been gobbling up BTC during moments of wild market volatility. It’s kind of like their go-to move when the market resets. Marathon’s been busy mining too, producing 218 blocks in September, up 5% from August. Meanwhile, global hashrate grew by 9%, like everyone suddenly decided to get really serious about crypto mining.
CoinDesk reached out to MARA for an official response. They’ll probably send us a very polite “We’re not surprised either.”
MARA Holdings, which holds 52,850 $BTC ($6.12B), bought another 400 $BTC ($46.31M) through #FalconX 2 hours ago.
– Lookonchain (@lookonchain) October 13, 2025
Now, back to the drama: Bitcoin’s value took a nosedive of nearly 13% on Friday, all thanks to the renewed U.S.-China tariff threats. It was a perfect storm for panic sellers, wiping out a ridiculous $65 billion in open interest. Some suggest Binance is secretly the villain in this tragedy, with some internal errors making assets fall off the crypto tightrope.
But don’t panic yet! By the time you’re reading this, Bitcoin has clawed its way back up to around $114,800, gaining a modest 3% in the last 24 hours. Looks like those trade war tensions between Washington and Beijing are finally cooling off, which is good news for everyone who doesn’t want to see their wallet explode.
Still, some analysts are getting dramatic. They say that if Bitcoin can’t stay above the long-term resistance trendline (from all the way back in 2017 and 2021), we might be heading for a dramatic retest of $100,000. Will it happen? Nobody knows. But don’t hold your breath.
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2025-10-13 10:04