The European Union, decked out in bureaucratic armor, taking aim at Russia’s prized crypto darling, a ruble-backed stablecoin named A7A5.
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Why the Crypto Market Is Down Today: Bitget’s Take
The crypto pullback today isn’t a surprise, surging prices in the recent week planted seeds of caution. As traders harvest profits, momentum slows.
Combined with macro headwinds and stretched positioning, what we’re seeing is more correction than collapse.
A few catalysts stand out. First, overbought conditions and divergence across momentum indicators showed the market was due for a reset.
Second, liquidations hit hard as Bitcoin slipped under $122,000, over $688 million in leveraged long positions unraveled in the past 24 hours. That cascade pressure tends to ripple across altcoins.
Third, macro signals are muddying the waters. Reports of Treasury auctions demanding higher yields and renewed hawkishness from U.S. economic data have introduced fresh uncertainty into risk assets.
Even ETF delays and policy ambiguity in Washington are feeding sentiment fatigue.
From Bitget’s vantage point, we view this dip as a healthy consolidation rather than the start of a broader reversal as long as key supports hold.
The structural bullish underpinnings remain intact: strong institutional flows, shrinking exchange balances, and resilient on-chain demand.
However, this phase still requires monitoring, volatility could persist, and failed support levels might test sentiment further.
Ryan Lee, Chief Analyst at Bitget
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
Canary’s Litecoin, HBAR ETFs Hit “Go-Time” Status as Shutdown Stalls SEC Action
Canary Capital’s Litecoin ETF and HBAR ETF moved to final S-1 stages, with fees and tickers in place.
Crypto treasuries hit $135 billion
Crypto asset treasury companies have collectively raked in over $135 billion in cryptocurrencies, and things are just heating up.
AFL-CIO says Senate crypto bill lacks safeguards for workers and pensions
The AFL-CIO criticized the Senate crypto bill, the Responsible Financial Innovation Act (RFIA), for lacking worker protections. In a letter, the AFL-CIO urged the Senate Banking Committee to reject the RFIA draft.
The union said the Senate crypto bill threatens retirement funds. It argued that 401(k)s and pensions could face higher volatility and loss. According to the AFL-CIO, the RFIA would expand crypto’s role without sufficient oversight or meaningful safeguards.
The AFL-CIO also raised financial stability concerns. It warned that the Deposit Insurance Fund could face greater risk if banks custody crypto. The union added that the RFIA weakens SEC oversight by codifying tokenization of securities. It said the Senate crypto bill could enable “shadow public stock” outside standard disclosure rules.
Senators Cynthia Lummis and Kirsten Gillibrand first introduced the RFIA in 2022. They revised the Senate crypto bill this year. The Senate Banking Committee is developing the RFIA as an alternative to a House market structure bill. The AFL-CIO maintains that the RFIA provides the facade of regulation rather than real worker protections.
Jody Calemine, the AFL-CIO policy director, summarized the union’s position. He said the RFIA’s approach to crypto assets exposes retirement funds to undue risk. He added that allowing broader bank crypto activity could endanger financial stability. Therefore, the AFL-CIO asked senators to oppose the Senate crypto bill in its current form.
The AFL-CIO compared the risks to conditions before the 2008 financial crisis. It cited high-risk activities and weak guardrails. It said similar dynamics could emerge if the RFIA becomes law without stronger worker protections.
The Senate crypto bill remains a discussion draft. The Senate Banking Committee has not formally introduced the RFIA. The AFL-CIO continues to press for stronger SEC oversight and clearer safeguards. It wants explicit limits on tokenization of securities that bypass public markets. It also seeks protections for retirement funds, including 401(k)s and pensions, to preserve financial stability.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: October 8, 2025 • 🕓 Last updated: October 8, 2025
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