Dollar Hits 18-Month High as Banks Sue to Keep Crypto Out of the System
The U.S. dollar has got to be that friend who disappears for a while, then shows back up like they never left, and somehow everyone just… lets them back in. I mean, the DXY just hit its highest point in nearly 18 months, going up from 99 in early September, and is now sitting above its 200-day moving average. For context, every time the dollar moves like this, the whole of crypto Twitter feels it in their lungs. You'll remember 2022, when DXY made its way to 114, and Bitcoin got cooked terribly. We're nowhere near that level, but the correlation hasn't exactly been forgotten.
And elsewhere, America's community banks just filed a lawsuit against the OCC for letting crypto companies into the banking system through the back door while El Salvador chose to remain the Bitcoin HODLing nation we all know and love… Yeah, they got a $138M IMF compensation despite missing their Bitcoin targets, waiving the criteria they broke for not buying enough BTC.
- Bitcoin resilience tested as U.S. dollar climbs to 18-month high
- Banking Group Sues to Block Crypto's 'Side Door' Into the Banking System
- Binance to Change Brazil Crypto Deposits and Withdrawals on Nov. 1, 2026
- El Salvador receives $138 million from IMF after Bitcoin waivers granted
Here are the highlights:
Bitcoin resilience tested as U.S. dollar climbs to 18-month high
Major currencies typically move less sharply than stocks or cryptocurrencies, but shifts in monetary policy and investor confidence can trigger explosive moves. The U.S. Dollar Index (DXY), which measures the dollar against a basket of six major currencies, reached roughly 102.5 on Monday, its highest level in nearly 18 months. Having climbed from around 99 in early September, it is now comfortably above its 200-day moving average, also near 99, a signal of strengthening bullish momentum.
Banking Group Sues to Block Crypto's 'Side Door' Into the Banking System
America's community banks are taking the nation's top banking regulator to court over its practice of handing bank charters to cryptocurrency companies, arguing the agency has blown past the limits Congress set. The Independent Community Bankers of America filed suit Friday in the U.S. District Court for the District of Columbia against the Office of the Comptroller of the Currency, challenging its authority to charter national trust banks for crypto firms. The complaint, brought under the Administrative Procedure Act, centers on a March 2, 2026 final rule tied to the OCC's Interpretive Letter No. 1176 and asks the court to declare both unlawful.
Binance to Change Brazil Crypto Deposits and Withdrawals on Nov. 1, 2026
Binance will change its crypto deposit and withdrawal procedures for Brazilian users on Nov. 1, 2026, requiring additional details for specified international transfers under a central bank resolution. The requirements apply to transfers involving users’ own accounts abroad, nonresident individuals or companies, foreign exchanges and self-custody wallets. Users must provide the transfer’s purpose and confirm the identity of the sender or beneficiary. Transfers within Brazil are unaffected.
El Salvador receives $138 million from IMF after Bitcoin waivers granted
The International Monetary Fund approved the immediate disbursement of about $138 million to El Salvador under the country’s $1.4 billion financing program, despite some performance criteria being missed. The IMF’s Executive Board completed the second and third reviews under El Salvador’s 40-month Extended Fund Facility (EFF) arrangement on Thursday, it said in a press release. While certain performance criteria were not met, including on the Bitcoin accumulation front, the IMF granted waivers “based on strong corrective measures and renewed commitments.”
Other Highlights Worth Mentioning
Crypto hacks top $768M in September, worst month of 2026 – Cointelegraph
Bitmine Buys $41M More Ethereum, Reaching 99% of Its 'Alchemy of 5%' Target – Decrypt
Strategy’s Bitcoin Holdings Reach 848,000 BTC After $28.7M Purchase – Blockchair
US targets $17 billion Russia-linked crypto payment network using USDT as an escape route – Cryptoslate
COINIGY FACT OF THE DAY
On this day in 2025, Bitcoin broke above $125,000 for the first time in history, setting a new all-time high as institutional demand continued to pour into the market.
On October 5, 2025, Bitcoin surged above $125,000 for the first time in its history, setting a new all-time high. CoinDesk reported that U.S.-listed spot Bitcoin ETFs had attracted $3.24 billion in net inflows during the week ending October 3, helping fuel the rally. Decrypt separately reported that nearly $50 billion in BTC traded over the preceding 24 hours, while more than $200 million in Bitcoin short positions were liquidated.
COINIGY MEME OF THE WEEK
