Hong Kong just approved a Solana ETF before the US could react

💰 Bitwise Says Bitcoin Could Hit $242,391 on a 5% Gold Rotation

Bitwise analysts dropped a headline-grabber: if just 5% of gold’s market value shifted into Bitcoin, the top crypto could surge to roughly $242,391 per coin.
Their logic is simple — global investors still view gold as the ultimate hedge, but Bitcoin is increasingly eating into that narrative. As macro tensions rise and digital asset infrastructure matures, the “digital gold” argument is no longer theoretical — it’s measurable.

The projection echoes CZ’s own comment this week:

🇭🇰 Hong Kong Approves First Spot Solana ETF

In a major regulatory move, Hong Kong just became the first Asian market to approve a spot Solana ETF, beating the U.S. to the punch.
This decision cements Hong Kong’s ambition to become a hub for digital-asset finance, joining Canada, Brazil, and Kazakhstan among nations already offering Solana ETFs.
Meanwhile, American regulators remain cautious — a stance that’s rapidly isolating the U.S. from the global crypto investment boom.

📊 a16z: Crypto’s Turning Point Has Arrived

Andreessen Horowitz’s State of Crypto 2025 report paints the most optimistic picture yet:

• 40-70 million active crypto users and 700+ million total holders worldwide.

• Stablecoin transaction volume surpassing $46 trillion - on par with Visa and ACH.

• Over 1% of U.S. dollars now exist as tokenized assets.

• Tokenized real-world assets (RWA) market hit $30 billion, including treasuries and real estate.

• Top institutions - JPMorgan, PayPal, Stripe - are building crypto-native rails.

• Bitcoin and Ether ETFs now manage $175 billion in assets.

a16z calls 2025 “the first year crypto fully collides with the real economy.”

💥 Bitcoin’s Wild Ride: $740M in Liquidations

Bitcoin had another chaotic weekend: the price swung between $110,552 and $114,019 before plunging back to $108,000, triggering over $740 million in liquidations.
According to Coinglass:

• $435.63M in long positions wiped out

• $304.64M in shorts liquidated

The sharp volatility was described by analysts as a “classic short squeeze turned liquidity flush.”

🚨 AWS Outage Hits MetaMask and Base

On October 20, an Amazon Web Services (AWS) failure disrupted multiple Ethereum-linked services, including MetaMask.
For several hours, users saw zero balances and failed transactions across the Base network.
Although systems were restored, the incident exposed how dependent the crypto ecosystem remains on Web2 infrastructure - and reignited calls for decentralized cloud redundancy.

🔥 Market Recap (Oct 22, 2025)

• Global Market Cap: $4.17T (-1.8%)

• BTC: $108,420 (-2.4%)

• ETH: $4,120 (-1.5%)

• SOL: $238 (↑6.7%)

• XRP: $2.19 (-0.9%)

Top Movers:

• Gainers: SOL, INJ, MNT

• Losers: BTC, DOGE, AVAX