Overview: Trump Tariffs Trigger Risk-Off Selloff
Crypto markets closed Tuesday, October 13, 2026 in the red after President Trump announced new tariffs targeting European imports. The move triggered a broad selloff across risk assets, with Bitcoin slipping from ~$83,700 to $81,805. Solana was the hardest hit among the top assets, declining over 5% in 24 hours.
Crypto derivatives markets recorded over $875 million in liquidations within 24 hours, reflecting forced closures of leveraged long positions built up over recent weeks. Despite the selloff, BTC (+0.00674%) and ETH (+0.000635%) funding rates remain slightly positive, suggesting the market has not shifted into outright bearish territory.
Metaplanet Raises $137M to Expand Bitcoin Holdings
Japanese firm Metaplanet announced a $137 million capital raise through a third-party share allotment to purchase additional Bitcoin, continuing its aggressive "Bitcoin Treasury" strategy. Analysts view the move as a signal that major Asian corporations still hold long-term conviction in BTC despite near-term volatility.
Bank of America CEO: Stablecoins Could Pull $6T in Deposits
Bank of America's CEO warned that stablecoins could absorb up to $6 trillion from the US banking system if stablecoin legislation passes Congress. The warning comes as Coinbase threatened to withdraw support for a Senate crypto bill it views as overly favorable to large incumbent banks, intensifying the legislative standoff.
2026 Elections May Stall US Crypto Legislation
A leading investment bank warned that the 2026 midterm elections could delay major US crypto regulatory frameworks as lawmakers focus on campaigning. Meanwhile, Barclays made its first stablecoin investment by taking a stake in Ubyx, signaling continued institutional appetite for the sector despite policy uncertainty.
Technical Outlook
Bitcoin remains above the $80,000 psychological support level. A break below could test $77,500, but if macro headwinds ease, resistance sits at $84,500–$86,000. ETH's near-zero funding rate indicates the market is not oversold, leaving room for a bounce.
- BTC Support: $80,000 / Resistance: $84,500
- ETH Support: $2,380 / Resistance: $2,580
- SOL Support: $100 / Resistance: $112
