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Bitcoin has officially shattered another all-time high, reminding everyone why it’s still the market’s favourite orange token. On October 5th, Bitcoin soared to A$190,854 fuelled by a weakening U.S. dollar, global trade uncertainty, and record ETF inflows. According to Reuters, crypto exchange-traded funds saw $5.95 billion USD (A$9.02 billion) pour in during the week ending October 4. But as every seasoned trader knows, when Bitcoin hits the high highs, profit-taking begins, and we’ve seen that play out fast. From those new peaks, the broader market has cooled, with the top 100 tokens now flashing red as investors lock in gains and wait for the next setup. Whether Uptober still has gas left in the tank or it’s time for a breather, one thing’s clear: the energy in crypto right now is impossible to ignore.
Bitcoin Hits A New All-Time High!
Bitcoin has hit another All-Time High (ATH) on October 5th, reaching A$190,854 and $126,223 USD. According to Reuters, the record price was attributed to a weakening U.S. dollar, global trade uncertainty, having traders flocking to gold bars and “digital gold” aka BTC. At the start of the week, global crypto exchange-traded funds (ETFs) saw record inflows of USD$5.95 billion in the week ending October 4, 2025, marking a surge in institutional demand and growing confidence in digital assets. According to CoinShares, the United States led with $5 billion USD (A$9.02 billion) in inflows, with Switzerland and Germany recording record inflows. An Analysis from Elior Manior at Market Pulse wrote that technical momentum for BTC remains strong, with BTC breaking key resistance levels at $117,000 USD and $120,000 USD, and now testing the $125,000 USD–$126,000 USD or A$189,538 - A$191,053 range. Analysts suggest that consolidation between USD$120,000 and USD$125,000 could support a further push toward USD$135,000 or A$204,700 while the broader crypto market cap keeps hitting goals.
Will Uptober continue? In the last 24 hours, we’ve seen some sell-offs, which is normal trading activity post BTC all-time high. As always, crypto is super cyclical so we’ll have to wait and see what’s next.
What’s Happening On The Wayex Platform This Week
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BNB Hits An All-Time High
Binance Coin (BNB) surged past $1,311 USD (A$1,982) on October 7, 2025, marking its second all-time high this month and overtaking XRP to become the world’s third-largest cryptocurrency with a $154 billion USD (A$233 billion) market cap. Binance founder Changpeng Zhao (CZ) highlighted BNB’s rise to positive market conditions and, importantly, ecosystem growth, which included a newly announced $1 billion USD fund to support that growth.
Analysts link the broader rally to pro-crypto U.S. policies, ETF inflows, and Bitcoin’s halving, while technical forecasts suggest BNB could reach $1,500 USD ($2,275 AUD) if momentum continues, though a short-term consolidation between $1,200 USD ($1,823 AUD) and $1,350 USD ($2,050 AUD) remains likely after its 100% three-month surge. Trading View reported that this is the second price breakout since July, and analyst NekozTek stated that BNB is “executing a masterclass trend” and the momentum is firmly on its side.
Watching And Waiting On More Altcoin All-Time Highs
The crypto market appears to be excited and eagerly anticipating a new altcoin season, with Ethereum, Solana, and XRP nearing their all-time highs and signalling a shift in momentum from Bitcoin to major altcoins. Early this week, Mi Trade, Ethereum approached its record of $4,769 USD (A$7,228), Solana reclaimed $235 USD (A$356) , and XRP is gaining traction near $3 USD (A$4), suggesting further upside. Trade uncertainty and a weakening US dollar have also fueled risk appetite and capital inflows into digital assets. If momentum continues, the coming weeks could mark the strongest altcoin rally since 2021, with top tokens leading a broad-based market surge.
Traditionally, when BTC hits an ATH, investors move profits away from BTC, causing a liquidity event, but despite what is being referred to as “lunatic flows” by Market Pulse, CryptoNews.com states that, despite profit taking, pricing analysts remain firmly bullish on altcoins, including XRP, Cardano and Ripple. However, CoinDesk did recently post an article speculating that a XRP token crash is brewing.
At Wayex Australia, we believe the smartest traders are the ones who stay curious; that’s why we always say do your own research. The crypto market moves fast, opinions differ, and narratives change overnight (much to the extreme annoyance of our Digital Marketing Manager). Taking the time to dig deeper and cross-check information helps you cut through the noise, spot real opportunities, and make confident, informed decisions in a space that never sleeps.
Is Europe Changing Their Mind On Stables?
On October 9th 2025, EU finance ministers met to review the bloc’s stance on euro-backed stablecoins and whether the Markets in Crypto-Assets Regulation (MiCA) needs adjustments to balance innovation with risk management. Despite progress, Europe remains far behind the U.S., with euro-denominated stablecoins making up just $620 million USD (A$949 million), around 0.2 per cent of the 300 billion USD dollar (A$459 billion) global market, compared to the dominance secured by the U.S. Genius Act, which reinforces dollar-backed tokens. At the same time, the EU imposed sanctions on the Russian ruble-backed A7A5 stablecoin. Europe is now seeming to pay attention to the opportunities of stablecoins, with the Bank of England (BOE) responding to widespread criticism of its proposed stablecoin holdings limits. Currently, the BOE is reportedly considering an exemption to stablecoins cap from the current allowance following widespread criticism of its plans to cap individuals’ and businesses’ stablecoin holdings to GBP£20,000 (A$40,666) and GBP $13.4 million (A$27.2 million).
Gemini Expands To Australia
Gemini has strengthened its presence in Australia after securing registration with AUSTRAC, enabling direct Australian-dollar trading through local banking integrations like NPP and PayID. The move comes as draft laws propose bringing crypto exchanges under the Corporations Act, marking a new phase of oversight for the sector. With former Luno executive James Logan appointed Head of Australia, Gemini aims to combine liquidity, compliance, and brand trust as its core differentiators. The company is also seeking an Australian Financial Services Licence from ASIC to expand into regulated products, signalling a long-term commitment to a market where more than 22 per cent of Australians now hold digital assets.
Things that made us laugh this week
Founders Corner
Bitcoin has done it again, smashing through another all-time high at A$190,854 and reminding everyone why it’s still king. Fueled by nearly US$6 billion in ETF inflows, a weaker U.S. dollar, and rising global uncertainty, this rally feels more institutional than emotional. But as always, after the climb comes the cool-off, traders are cashing in, and markets are catching their breath.
Altcoins are circling, though, will they follow Bitcoin’s lead? Ethereum’s heating up, BNB’s on fire, and Solana’s waiting for its breakout moment. Meanwhile, regulators, as always, are shaking things up: the EU’s softening on stablecoins, Gemini’s expanding in Australia, shows that the market here is still strong despite having a small population, and governments are finally realising that innovation won’t wait for permission.
Richard, Co-Founder, Wayex
**All information in this article is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by Wayex to invest, buy, or sell any coins, tokens, or other crypto assets. Any descriptions of Wayex products or features are merely for illustrative purposes. Past performance is not a guarantee or predictor of future performance. The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. It is essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility.
