Cryptocurrency Summary

Bitcoin is experiencing a rise in perpetual open interest as traders anticipate a year-end rally, with some expecting a target of $120,000, according to a recent analysis. However, Bitcoin's performance has been lackluster, heading for its worst fourth quarter since 2018, with prices slipping below $88,000 amidst a $28.5 billion options expiry on Deribit.

In regulatory news, an Arizona lawmaker has proposed barring taxes on crypto and blockchain, while Ghana has passed a law to legalize cryptocurrency trading, marking a significant step in the continent's embrace of digital assets.

Meanwhile, BlackRock emphasizes Bitcoin ETFs as a major theme for 2025, despite current price slumps and waning institutional demand affecting platforms like CME, which has lost its top spot to Binance in Bitcoin futures open interest.

Additionally, recent reports highlight that Binance processed $144 million in suspicious payments linked to terrorist group activities after its plea deal, raising concerns over its operational integrity.