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Forte Minerals Appoints Patrick Evans as Non-Executive Chairman and Announces the Resignation of Long-Standing Director Doug Turnbull

Investing 7 Mins Read

Forte Minerals Corp. (‘Forte’ or the ‘Company’) ( CSE: CUAU ) ( OTCQB: FOMNF ) ( Frankfurt: 2OA ) is pleased to announce that the Board of Directors has appointed Patrick Evans as an Independent Director and Chairman of the Board.

Mr. Evans brings over 25 years of senior mining executive leadership experience, specializing in mergers and acquisitions, capital markets, and the development of world-class assets across four continents. He currently serves as Chairman of Pan Global Resources Inc.

Mr. Evans’s career includes leading multiple public companies to successful exits and significant value creation. He previously served as CEO of Dominion Diamond Mines and Mountain Province Diamonds Inc. He led the sale of several companies, including Norsemont Mining Inc. (acquired by Hudbay Minerals), Weda Bay Minerals Inc. (acquired by Eramet S.A.), and Southern Platinum (acquired by Lonmin PLC).

Mr. Evans holds degrees in arts and science from the University of Cape Town and previously served as South Africa’s Consul-General to Canada (1994–1998). His industry leadership has been recognized with both the Prospectors & Developers Association of Canada’s Viola R. MacMillan Award and the Association for Mineral Exploration’s Hugo Dummett Award .

The Board is confident that Mr. Evans’s proven track record in mergers, acquisitions, capital markets, and advancing complex multinational operations will directly support Forte as it develops its copper and gold projects in Peru. His appointment significantly enhances the Board’s independence and corporate governance oversight.

As the Independent Chairman, Mr. Evans will oversee Forte’s Board and ensure that management decisions align with the interests of shareholders and the Company’s long-term strategic objectives.

Patrick Elliott , President and CEO of Forte, stated, ‘ The appointment of Patrick Evans represents a transformational addition to Forte Minerals’ Board of Directors. As one of the most accomplished executives in the global mining industry, Mr. Evans brings a distinguished record of leading high-growth companies through major transactions, capital market success, and the development of tier-one mineral assets. His strategic insight and leadership will be instrumental as Forte advances its high-quality copper and gold portfolio in Peru and continues to unlock substantial long-term value for shareholders ‘.

Mr. Evans added, ‘Forte Minerals has built an exceptional portfolio of exploration projects in one of the world’s premier mining jurisdictions. I am excited to collaborate with the Board and management team to unlock the full potential of these assets and drive meaningful growth and value creation for all stakeholders.’

Forte Minerals would also like to extend its sincere gratitude to Mr. Doug Turnbull, P.Geo., who has resigned from the Board of Directors. Mr. Turnbull has served as an Independent Director and Chair of the Compensation Committee since 2010.

Over his fourteen years of dedicated service, Mr. Turnbull has been an integral part of Forte’s growth and governance, bringing more than 30 years of global exploration experience and thoughtful leadership to the Board. His geological expertise and steady guidance have helped shape the Company’s strategic direction from its early stages to its current milestones.

Mr. Turnbull is stepping down on excellent terms to pursue a new opportunity with VBKOM, an engineering company based in South Africa.

The Board and management wish to thank him for his longstanding commitment, professionalism, and contribution to Forte’s success, and wish him continued achievement in his new role.

Corporate Update: Option Grants

In connection with his appointment to the Board of Directors and as Independent Chair of the Company, Mr. Patrick Evans was granted 500,000 stock options. Each option is exercisable for 5 years to acquire one common share of the Company at a price of C$0.78 per share, consistent with the exercise price granted to other directors in recent stock option issuances.

The Company also granted an aggregate of 2,250,000 stock options to directors, officers, and consultants pursuant to its existing stock option plan.

In total, 2,750,000 stock options were granted. All Options are exercisable at $0.78 per share for a period of five years, subject to the terms of the plan and applicable regulatory approvals.

ABOUT Forte Minerals CORP.

Forte Minerals Corp. is an exploration company with a strong portfolio of high-quality copper (Cu) and gold (Au) assets in Peru. Through a strategic partnership with GlobeTrotters Resources Perú S.A.C. , the Company gains access to a rich pipeline of historically drilled, high-impact targets across premier Andean mineral belts. The Company is committed to responsible resource development that generates long-term value for shareholders, communities, and partners.

On behalf of Forte Minerals CORP.

(signed) ‘ Patrick Elliott’
Patrick Elliott, MSc, MBA, PGeo
President & Chief Executive Officer

Forte Minerals Corp.
info@forteminerals.co m
www.forteminerals.com

For further information, please contact:
Investor Inquiries
Kevin Guichon, IR & Capital Markets
E: kguichon@forteminerals.com
C: (604) 612-9976

Media Contact
Anna Dalaire, VP Corporate Development
E: adalaire@forteminerals.com
T: (604) 983-8847

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Certain statements included in this press release constitute forward-looking information or statements (collectively, ‘forward-looking statements’), including those identified by the expressions ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘should’ and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements relating to the intended use of proceeds of the Strategic Placement. These forward-looking statements and information reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company with respect to the matter described in this press release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under ‘Risk Factors and Uncertainties’ in the Company’s latest management’s discussion and analysis, which is available under the Company’s SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future.

Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information or statements to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.

Neither the Canadian Securities Exchange (the ‘CSE’) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d4b54275-2dff-445f-bc54-06bb0775c8e5

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Cespira Signs Agreement to Supply Components for a Customer Truck Trial

Investing 4 Mins Read

Westport Fuel Systems Inc. (‘Westport’) (TSX:WPRT Nasdaq: WPRT), a supplier of alternative fuel systems and components for the global transportation industry, announced today that Cespira, Westport’s joint venture with the Volvo Group, has signed an agreement with and received full payment from a leading OEM for Cespira’s HPDI TM components to be utilized in a customer truck trial.

Cespira will deliver several hundred sets of a key component in support of the trial. The truck trial is designed to assess the market interest and viability of the direct injection system in certain heavy-duty trucking markets and is expected to form the basis upon which the OEM will determine whether to make a further investment to commercialize this system. It is also important to note that some of the other system components not supplied by Cespira and used during the trial have not been validated by Cespira. Further information regarding the trial is not disclosed for commercially sensitive reasons.

About Westport Fuel Systems
Westport is a technology and innovation company connecting synergistic technologies to power a cleaner tomorrow. As a leading supplier of affordable, alternative fuel, low-emissions transportation technologies, we design, manufacture, and supply advanced components and systems that enable the transition from traditional fuels to cleaner energy solutions.

Our proven technologies support a wide range of clean fuels – including natural gas, renewable natural gas, and hydrogen – empowering OEMs and commercial transportation industries to meet performance demands, regulatory requirements, and climate targets in a cost-effective way. With decades of expertise and a commitment to engineering excellence, Westport is helping our partners achieve sustainability goals—without compromising performance or cost-efficiency – making clean, scalable transport solutions a reality.

Westport Fuel Systems is headquartered in Vancouver, Canada. For more information, visit www.Westport.com.

Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements, including statements regarding the joint venture (‘JV’) between Westport and the Volvo Group, the JV’s delivery of several hundred sets of a key component for the customer truck trial, the trial’s objective to assess market interest and viability of the direct injection system in the heavy-duty trucking sector, and the potential for further investment to commercialize the system, the performance and competitiveness of Westport’s products and Westport’s ability to help our partners achieve sustainability goals. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activities, performance or achievements expressed in or implied by these forward-looking statements. These risks, uncertainties and assumptions include, but are not limited to, those related to the delivery and performance of the JV system during the trial, the market’s response to the system, the unvalidated nature of certain other system components not supplied by the JV, potential regulatory hurdles, customer demand, and other factors that could impact the heavy-duty truck sector or the JV’s operations, including the general economy, governmental policies and regulation, technology innovations, new environmental regulations, the acceptance of and shift to natural gas vehicles, the relaxation or waiver of fuel emission standards, the inability of fleets to access capital or government funding to purchase natural gas vehicles, the development of competing technologies, our ability to adequately develop and deploy our technology, the actions and determinations of our joint venture and development partners, as well as other risk factors and assumptions that may affect our actual results, performance or achievements or financial position discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by National Instrument 51-102. The contents of any website, RSS feed or twitter account referenced in this press release are not incorporated by reference herein.

Contact Information
Investor Relations
Westport Fuel Systems
T: +1 604-718-2046

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Investing

Locksley Resources LimitedQualifies for Trading on U.S. OTCQX Market

Investing 5 Mins Read

Perth, Australia (ABN Newswire) – OTC Markets Group Inc. (OTCMKTS:OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced that Locksley Resources Ltd (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF), an exploration and development company focused on rare earths and antimony critical minerals, has qualified to trade on the OTCQX Best Market.

Highlights

– Locksley Resources Limited has qualified to trade on the OTCQX(R) Best Market, upgrading from the OTCQB(R) Venture Market

– Trading on OTCQX enhances Locksley’s visibility and accessibility to U.S. investors, supporting its U.S. focused critical minerals strategy

– Locksley’s flagship Mojave Project in California is strategically located adjacent to MP Materials’ Mountain Pass Mine, targeting rare earth elements (REEs) and antimony as part of a fully integrated mine-tomarket strategy

– The Company’s downstream technology partnerships underpin its role in re-establishing U.S. domestic supply chains for critical materials, with a particular focus on antimony

– Rare earths and Antimony are front and center in the global race to secure critical materials, with Locksley’s Mojave Project positioned at the heart of America’s efforts to restore domestic supply independence through a 100% U.S. mine-to-market strategy

Locksley has upgraded to OTCQX from the OTCQB Venture Market, and the symbol remains as ‘LKYRF.’ U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

The OTCQX Market is designed for established, investor focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

Rare Earths & Antimony – Front and Centre in a Shifting Global Landscape

Locksley’s progression to the OTCQX comes amid escalating global focus on rare earth security, following new export restrictions and rising trade tensions. As nations move to safeguard access to critical materials, Locksley’s Mojave Project stands at the center of America’s effort to restore domestic supply independence. With a fully integrated mine-to-market strategy across antimony and rare earths, the Company is advancing a 100% American made approach that aligns directly with U.S. national policy priorities and the reshoring of strategic materials.

Nathan Lude – Head of Strategy, Capital Markets & Commercialisation commented

‘Graduating to the OTCQX Market in record time since our initial listing just over three months ago, is a significant milestone for Locksley as we broaden our visibility and accessibility to U.S. investors. Our Mojave Rare Earths and Antimony Critical Minerals Project are strategically located in a tier-one jurisdiction adjacent to MP Materials’ Mountain Pass Mine. Locksley is positioned to play a pivotal role in re-establishing domestic supply chains through its mine-to-market strategy for critical materials, with a particular focus on antimony.’

About Locksley Resources Limited:

Locksley Resources Limited (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) is an ASX listed explorer focused on critical minerals in the United States of America. The Company is actively advancing exploration across two key assets: the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley Resources aims to generate shareholder value through strategic exploration, discovery and development in this highly prospective mineral region.

Mojave Project

Located in the Mojave Desert, California, the Mojave Project comprises over 250 claims across two contiguous prospect areas, namely, the North Block/Northeast Block and the El Campo Prospect. The North Block directly abuts claims held by MP Materials, while El Campo lies along strike of the Mountain Pass Mine and is enveloped by MP Materials’ claims, highlighting the strong geological continuity and exploration potential of the project area.

In addition to rare earths, the Mojave Project hosts the historic ‘Desert Antimony Mine’, which last operated in 1937. Despite the United States currently having no domestic antimony production, demand for the metal remains high due to its essential role in defense systems, semiconductors, and metal alloys. With significant surface sample results, the Desert Mine prospect represents one of the highest-grade known antimony occurrences in the U.S.

Locksley’s North American position is further strengthened by rising geopolitical urgency to diversify supply chains away from China, the global leader in both REE & antimony production. With its maiden drilling program planned, the Mojave Project is uniquely positioned to align with U.S. strategic objectives around critical mineral independence and economic security.

Tottenham Project

Locksley’s Australian portfolio comprises the advanced Tottenham Copper-Gold Project in New South Wales, focused on VMS-style mineralisation

About OTC Markets Group Inc.:

OTC Markets Group Inc. (OTCQX:OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our public markets: OTCQX(R) Best Market, OTCQB(R) Venture Market, OTCID(TM) Basic Market and Pink Limited(TM) Market. Our OTC Link(R) Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading.

Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS(TM) are each SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

Source:
Locksley Resources Limited OTC Markets Group Inc.

Contact:
Locksley Resources Limited
T: +61 8 9481 0389
E: info@locksleyresources.com.au

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Business

UPS is ‘disposing of’ U.S.-bound packages over customs paperwork problems

Business 8 Mins Read

Thousands of U.S.-bound packages shipped by UPS are trapped at hubs across the country, unable to clear the maze of new customs requirements imposed by the Trump administration.

As packages flagged for customs issues pile up in UPS warehouses, the company told NBC News it has begun “disposing of” some shipments.

Frustrated UPS customers describe waiting for weeks and trying to make sense of scores of conflicting tracking updates from the world’s largest courier.

“I’ve never seen anything like this before,” Matthew Wasserbach, brokerage manager of Express Customs Clearance, said of the UPS backlog. “It’s totally unprecedented.”

Wasserbach’s New York City-based shipping services firm helps clients move shipments through customs. He said the company has seen a spike in inquiries for help with UPS customs clearance.

A Boeing 747 operated by UPS on the tarmac at Louisville International Airport in Kentucky during a winter storm on Feb. 3, 2022.Luke Sharrett / Bloomberg via Getty Images file

More than two dozen people who are waiting for their UPS packages explained the circumstances of their shipments to NBC News.

They described shipments of tea, telescopes, luxury glassware, musical instruments and more — some worth tens of thousands of dollars — all in limbo or perhaps gone.

Others have deep sentimental value: notebooks, diplomas and even engagement rings.

The frustration has exploded online, with customers sharing horror stories on Reddit of missing skin care products, art and collectibles.

They are confused and angry, and they want answers.

“It’s almost impossible to get through to anybody to figure out what is happening,” said Ashley Freberg, who said she is missing several boxes she shipped via UPS from England in September.

“Are my packages actually being destroyed or not?”

Freberg’s boxes of journals, records and books were shipped on Sept. 18, according to tracking documents she shared with NBC News.

Over the next two weeks, she received two separate notifications from UPS that her personal mementos had not cleared customs and as a result had been “disposed of” by UPS.

Then, on Oct. 1, a UPS tracking update appeared for her packages, saying they were on the way. The tracking updates Freberg showed NBC News for that shipment revealed it was the most recent update she had received.

UPS transport jets wait to be loaded with packages at UPS Worldport in Louisville, Ky., on April 27, 2021.Timothy D. Easley / AP file

While sentimental value is impossible to measure, other customers fear they will not be able to recover financially if their goods were destroyed.

Tea importer Lauren Purvis of Portland, Oregon, said five shipments from Japan, mostly containing matcha green tea and collectively worth more than $127,000, were all sent via UPS over the last few weeks and arrived at UPS’ international package processing hub in Louisville, Kentucky. Purvis has yet to receive any of the shipments, only a flurry of conflicting tracking updates from UPS.

A series of notifications for one shipment, which she shared with NBC News, said that the shipment had not cleared customs and that UPS had disposed of it.

But a subsequent tracking update said the shipment had cleared customs and was on the way.

“We know how to properly document and pay for our packages,” Purvis said. “There should be zero reason that a properly documented and paid-for package would be set to be disposed of.”

At least a half-dozen people described an emotional seesaw they were put through by weeks of contradictory UPS tracking updates about their shipments. The updates, they said, compounded the stress of not knowing what had really happened to their possessions.

A UPS Boeing 767 aircraft taxis at San Diego International Airport, in San Diego, Calif., August 15, 2025.Kevin Carter / Getty Images file

AJ, a Boston man who asked that NBC News use only his initials to protect his privacy, said he shipped a package from Japan via UPS on Sept. 12 including Japanese language books, a pillow and a backpack.

After it sat in Louisville for nearly two weeks, AJ got a tracking update on Sept. 26, one of several that he shared with NBC News. “We’re sorry, your package did not clear customs and has been removed from the UPS network. Per customs guidelines, it has been destroyed. Please contact the sender for more information,” it read.

UPS tracking updates for a package shipped from Japan to the United States.Obtained by NBC News

Three days later, on Sept. 29, he received another, and this one read: “On the Way. Import Scan, Louisville, KY, United States.” For a moment, it appeared as though AJ’s shipment might have been found.

But less than 24 hours after his hopes were raised, another tracking update arrived: “We’re sorry,” it began. It was the same notice that his package had “been destroyed” that he had received on the 26th.

Two minutes later, he got his final update: “Unable to Deliver. Package cannot clear due to customs delay or missing info. Attempt to contact sender made. Package has been disposed of.”

International shipping was thrown into chaos after the long-standing “de minimis” tariff exemption for low-value packages ended on Aug. 29.

Packages with values of $800 or less, which were previously allowed to enter the United States duty-free, are now subject to a range of tariffs and fees.

They include hundreds of country-specific rates, or President Donald Trump’s so-called reciprocal tariffs, as well as new levies on certain products and materials.

President Donald Trump holds a chart as he speaks about reciprocal tariffs at a ‘Make America Wealthy Again’ event at the White House on April 2.Brendan Smialowski / AFP – Getty Images file

The result is that international shipping to the United States today is far more complex and costly than it was even two months ago.

The sweeping changes have caught private individuals and veteran exporters alike in a customs conundrum.

It is difficult to know the exact number of the packages that are stuck in UPS customs purgatory. Shipping companies guard their delivery data closely.

UPS reported to investors that in 2023, its international service delivered around 3.2 million packages per day.

This week, the company told NBC News that it is clearing more than 90% of the packages it handles through customs on the first day.

The rest of the packages, or less than 10%, require more time to clear customs and need to be held until they do. That could easily mean that thousands of UPS packages every day are not clearing customs on their first try.

In a statement to NBC News, UPS said it is doing its best to get all packages to their destinations while abiding by the new customs requirements.

“Because of changes to U.S. import regulations, we are seeing many packages that are unable to clear customs due to missing or incomplete information about the shipment required for customs clearance,” it said.

UPS said it makes several attempts to get any missing information and clear delayed shipments, contacting shippers three times.

“In cases where we cannot obtain the necessary information to clear the package, there are two options,” it said.

“First, the package can be returned to the original shipper at their expense. Second, if the customer does not respond and the package cannot be cleared for delivery, disposing of the shipment is in compliance with U.S. customs regulations. We continue to work to bridge the gap of understanding tied to the new requirements and, as always, remain committed to serving our customers.”

A conveyor belt carries envelopes and small packages past UPS workers to their destinations at Worldport on Nov. 20, 2015.Patrick Semansky / AP, file

NBC News asked UPS precisely what it does with packages when it tells customers their shipments have been unable to clear customs and have been “disposed of.” It would not say.

On Sept. 27, a shipper in Stockholm received a formal notification from UPS that two packages her glassware company sent to the United States — which failed to clear customs — would be destroyed.

“We are sorry, but due to these circumstances and the perishable nature of the contents, we are now required to proceed with destruction of the shipment in accordance with regulatory guidelines,” UPS told Anni Cernea in an email she shared with NBC News.

The email continued, “There is no need to contact our call center for further information or to attempt to clear this shipment.”

Cernea said, “It’s just outrageous that they can dispose of products like this without approval from either the sender or recipient.”

From now on, Cernea said, she plans to ship her products via UPS rival FedEx.

Cernea’s decision to switch carriers hints at the worst-case scenario for UPS, which is that people could abandon the company. It is a potential crisis for the roughly $70 billion company.

The company’s stock price is already down more than 30% this year, which analysts attribute to a mix of tariffs, competition and shifting shopping habits.

As she awaits her missing journals and diplomas from England, Freberg is looking ahead to the biggest shipping months of the year.

“I can’t even imagine how bad the holidays are going to be, because that’s a time where loads of people are shipping stuff overseas,” she said.

“If it doesn’t get solved soon, I can only see it becoming an even bigger issue.”

Isabella Morales contributed reporting.

This post appeared first on NBC NEWS

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Investing

Crypto Market Update: Altcoins Retreat as Bitcoin ETFs See US$2.7 Billion in Inflows

Investing 6 Mins Read

Here’s a quick recap of the crypto landscape for Friday (October 10) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$121,578, down by 1.6 percent in 24 hours. The cryptocurrency’s lowest valuation of the day was US$119,967, and its highest was US$123,548.

Bitcoin price performance, October 10, 2025.

Chart via TradingView

Bitcoin may be trading near record highs, but one of its most respected on-chain indicators suggests the rally could still have significant room to run possibly as far as US$180,000.

The Mayer Multiple, a long-term metric that compares Bitcoin’s current price to its 200-week moving average, remains well below levels that have historically marked market tops.

“Bitcoin is at all-time highs and the Mayer Multiple is ice cold,” crypto analyst Frank Fetter wrote on X (formerly Twitter). According to Fetter, Bitcoin would need to climb to around US$180,000 before the indicator flashes “overbought” conditions, implying that the current cycle could still have room to expand.

The indicator’s historical context adds weight to that view. During Bitcoin’s 2017 and 2021 peaks, the Mayer Multiple surged well above 2.4, signaling excessive market exuberance before major corrections followed.

This time, the pattern looks different. The Multiple’s highest level in the current cycle—1.84 in March 2024, when Bitcoin neared US$72,000—never approached prior extremes, according to Glassnode data. Analysts see this moderation as a sign of a more sustainable advance.

Despite these encouraging on-chain signals, not everyone is convinced the path higher will be smooth. Short-term traders remain divided on whether Bitcoin can maintain momentum into the final quarter of the year.

Trader Tony “The Bull” Severino argued that Bitcoin may be entering a decisive 100-day window. Writing on X, Severino pointed to the Bollinger Bands indicator on Bitcoin’s weekly chart, which has tightened to levels not seen before. He noted that Bitcoin’s recent inability to hold above US$126,000, after briefly testing the upper band, could signal a short-term pullback before any sustained breakout.

Ether (ETH) also slid after last week’s rally, but has since recovered some of its losses. It was up by 0.7 percent over 24 hours to US$4,365.58. Ether’s lowest valuation on Friday was US$4,285.77, and its highest was US$4,401.99.

Altcoin price update

  • Solana (SOL) was priced at US$222.58, an increase of 1.1 percent over the last 24 hours and its highest valuation of the day. Its lowest valuation on Friday was US$217.57.
  • XRP was trading for US$2.83, trading flat over the last 24 hours. Its lowest valuation of the day was US$2.78, and its highest was US$2.84.

Derivatives trends

The crypto derivatives market saw heavy liquidations over the past 24 hours, totaling roughly US$674 million, according to Coinglass data. Long positions accounted for US$505 million of that amount, while short positions made up US$169 million, marking one of October’s sharpest liquidation waves.

Among major assets, Bitcoin long liquidations reached US$116 million, compared to US$68.22 million in shorts, indicating that overleveraged bullish traders bore the brunt of the latest downturn. Ether long positions were liquidated for US$146 million, against US$34.54 million in shorts, reflecting a similar shakeout of optimistic bets amid heightened volatility.

Despite the sell-off, futures open interest for Bitcoin rose 0.23 percent in the last four hours to US$90.19 billion, suggesting that traders are gradually re-entering positions or maintaining leverage at elevated levels.

Ether futures open interest also ticked up 0.22 percent to US$59.53 billion, showing that market participants remain engaged even after widespread liquidations.

Bitcoin’s relative strength index (RSI) at 72.15 indicates that the asset remains in overbought territory, potentially signaling near-term price swings or corrective moves. Still, the market’s resilience near the US$120,000 level points to continued speculative interest.

Today’s crypto news to know

XRP, DOGE, SOL slip as US$2.7 billion flows into Bitcoin ETFs

Major altcoins faced losses Friday as traders took profits from Bitcoin’s record-breaking rally, even as spot ETF demand remained strong.

Bitcoin briefly dipped to around US$120,000 overnight before stabilizing near US$122,000, while Ether erased its weekly gains with a 2.4 percent drop.

Solana, XRP, Dogecoin, and Cardano each slid up to 3 percent, according to CoinDesk data. Despite the retreat, US-listed Bitcoin ETFs drew US$2.72 billion in inflows this week, highlighting resilient institutional appetite.

The ETF surge underscores Bitcoin’s growing role as a “digital safe-haven,” especially as gold surged above Us$4,000 an ounce. However, a possible pullback to the US$107,000–US$115,000 range could be imminent ahead of the Federal Reserve’s October 29 policy meeting.

EU dismisses ECB’s call for new stablecoin rules

The European Commission said Friday that existing crypto regulations under MiCA are adequate to handle stablecoin risks, pushing back on calls from the European Central Bank for stricter oversight.

According to a Reuters report, the ECB had urged Brussels to introduce new safeguards against “multi-issuance” models, where stablecoins minted outside the EU could be treated as interchangeable with those issued within.

Industry groups, including members like Circle, asked the Commission to formally clarify that multi-issuance is allowed under current rules.

In a statement to Reuters, the Commission said MiCA already provides a “robust and proportionate framework” and that further guidance will be published soon.

The ECB’s main concern is that redemptions from non-EU tokens could drain reserves inside the bloc, posing systemic risks. Stablecoin issuers countered that their reserve structures already mitigate such threats.

Bitcoin ETFs extend Uptober gains as Ethereum products lose momentum

US spot Bitcoin ETFs posted another strong day Tuesday, with US$197.8 million in net inflows, reinforcing Bitcoin’s dominance as institutional investors rotated away from Ethereum products.

Data from SoSoValue showed total Bitcoin ETF assets climbing to US$164.79 billion, representing nearly 7 percent of Bitcoin’s market cap.

BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) led inflows with US$255 million, extending its lead over rivals as total assets surpassed $97 billion. Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) and Grayscale Bitcoin Trust (NYSEARCA:GBTC) saw outflows of US$13 million and US$45 million, respectively.

The renewed demand follows a surge of US$1.19 billion in inflows earlier this week, the highest since July, with BlackRock again accounting for the majority.

Bitcoin has gained over 10 percent in October, peaking at US$126,080 before easing to $121,000. Meanwhile, Ethereum ETFs snapped their eight-day inflow streak with US$8.7 million in withdrawals, reflecting a temporary pause after a strong start to the month.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Tech Weekly: Market Dives After Week-Long Rally as China/US Tensions Reignite

Investing 6 Mins Read

This week, the technology sector remained the dominant force shaping overall market trends in the US, despite the ongoing complexity of macroeconomic and geopolitical conditions.

The partial US government shutdown continued to delay key economic reports, creating a data vacuum that heightened reliance on soft data like consumer sentiment surveys. Notably, the University of Michigan’s Consumer Sentiment Index held steady at a subdued 55, reflecting persistent concerns about high prices and a challenging labor market.

Meanwhile, Canada reported a surprising gain of 60,400 jobs in September, with employment increases concentrated in full-time positions and manufacturing. The unemployment rate held steady at 7.1 percent, defying expectations and signaling a cautious stabilization after recent job losses.

Investor appetite for AI and related innovation remained high, pushing the Nasdaq Composite (INDEXNASDAQ:.IXIC) and S&P 500 (INDEXSP:.INX) to record or near-record levels midweek. However, ongoing trade frictions between the US and China continue posing risks to semiconductor supply chains and international tech trade flows.

On Friday (October 10), China introduced additional export restrictions on rare earth metals and related refining technologies, expanding controls to five more elements critical for electronics, defense and high-tech industries. US President Donald Trump responded by threatening to escalate tariffs on Chinese imports and warned of the potential cancellation of his upcoming meeting with President Xi Jinping at APEC in South Korea.

The news sent major stock indexes lower, with the S&P 500 seeing its largest decline since tariffs were first announced in April and the Nasdaq Composite losing 3.56 percent. The Philadelphia SE Semiconductor Index led losses, pulling back 6.32 percent.

After a nearly three-year rally fueled by enthusiasm for AI, concerns among analysts and investors about elevated valuations and concentrated exposure in AI-related companies continue to emerge.

The Bank of England’s Financial Policy Committee warned of an increased risk of market correction, particularly in AI-focused tech firms, due to stretched valuations. They noted high market concentration in the S&P 500’s top five companies, many being AI-centric. Disappointing AI adoption or increased competition could trigger a downturn by reassessing high earnings expectations. Bottlenecks in AI advancements also pose valuation risks.

Similarly, IMF Managing Director Kristalina Georgieva warned that AI-fueled global stock prices are overvalued and vulnerable to a sudden correction. She cited weakening job creation and US tariffs as “troubling signs” that could lead to instability and dampen global growth.

Analysts from JPMorgan Chase & Co. (NYSE:JPM) also wrote in a Monday (October 6) note that AI-related debt has reached US$1.2 trillion, making it the largest segment in the investment-grade market. AI companies now represent 14 percent of the high-grade market, exceeding US banks. However, this debt is primarily in investment-grade bonds from companies with strong balance sheets,

This complex interplay of cautious optimism underscores the evolving narratives dominating the tech market.

Three tech stocks that moved markets this week

1. Advanced Micro Devices (NASDAQ:AMD)

AMD’s stock opened over 31 percent higher on Monday after announcing a multi-year deal to supply up to 6 gigawatts of AI chips to OpenAI, starting with its MI450 series in the second half of 2026.

The company extended its gains on Tuesday (October 7) after Jefferies upgraded the stock rating to “buy” as other brokerages hiked their price targets. The news helped temper losses seen throughout the tech sector as trade tensions escalated on Friday.

The partnership grants OpenAI warrants to acquire up to 160 million shares of AMD, representing around 10 percent ownership upon achieving deployment milestones. This deal positions AMD as a major AI hardware supplier and represents a challenge to Nvidia’s dominance in the sector.

2. Intel (NASDAQ:INTC)

Intel shares jumped as much as 3.05 percent on Friday after the company unveiled its Panther Lake architecture, the first PC processor built on its advanced 18A semiconductor manufacturing process, with high-volume production beginning later this year at its Fab 52 facility in Arizona.

Panther Lake is set to significantly enhance power efficiency and performance, delivering an anticipated 50 percent increase in CPU and GPU capabilities compared to earlier generations. This chip is designed for premium laptops and is central to Intel’s plan to re-establish its leadership in semiconductor manufacturing within the US.

Intel also previewed its first 18A-based server processor, Clearwater Forest, slated for release in the first half of 2026. Panther Lake is scheduled for commercial availability in early 2026, coinciding with major consumer electronics shows.

3. Tesla (NASDAQ:TSLA)

Tesla released the long-awaited lower-priced versions of the Model Y and Model 3 on Tuesday, with the Model Y Standard starting at US$39,990.

After an initial rally on Monday following a weekend teaser of the announcement, shares fell by as much as 4.57 percent after an underwhelming reaction to modest price cuts and the vehicles’ lack of key features present in the pricier models.

The company also reportedly paused large-scale production of its humanoid robot Optimus due to technical difficulties and faced a new preliminary safety investigation by the NHTSA into its Full Self-Driving system, covering nearly 2.9 million vehicles amid reports of traffic law violations.

Company announcements helped Intel and AMD weather sector-wide losses on Friday

Chart courtesy of Google Finance

ETF performance

This week, the iShares Semiconductor ETF (NASDAQ:SOXX) only declined by about 6.27 percent, while the Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) pulled back by approximately 6.49 percent.

For its part, the VanEck Semiconductor ETF (NASDAQ:SMH) only lost 5.86 percent.

These losses occurred against a backdrop of heightening trade tensions between tech’s two largest markets.

Other tech market news

            Tech news to watch next week

            Next week, investors will be closely monitoring a slate of important earnings reports from leading financial and technology companies, including JPMorgan Chase, Bank of America Corp (NYSE:BAC), Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), IBM, Intel and Tesla.

            Additionally, the US government’s shutdown resolution or extension will affect the release of vital economic data, influencing market sentiment and investment strategies.

            On the policy front, investors should watch for Federal Reserve communications for clues on interest rate directions, as well as progress in US-China trade negotiations, which will undoubtedly define the near-term trajectory of the tech market.

            Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

            This post appeared first on investingnews.com

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            Editor’s Picks: Historic Week — Gold Breaks US$4,000, Silver Takes Out All-time High

            Investing 5 Mins Read

            It’s been yet another historic week for gold, as well as silver.

            Gold broke through US$4,000 per ounce midway through the period, entering never-before-seen territory as the US government shutdown continued into a second week.

            Silver’s milestone was perhaps even more impressive. The white metal pushed through the elusive US$50 per ounce mark and continued on past US$51, marking a new record.

            What’s behind its takeoff? Silver is known for its duality as both a precious and industrial metal, and experts have emphasized that it’s a mix of factors moving silver right now. It’s catching up to gold, which itself is supported by global geopolitical uncertainty and concerns about fiat currencies, and it’s also got its own specific elements at play.

            Backwardation, which happens when a commodity’s spot price is higher than its futures price, has been a frequent topic of discussion, and prior to silver’s move past US$50, precious metals analyst Ted Butler gave a rundown of the implications for silver.

            Here’s what he said:

            ‘Normally, (backwardation) results in an overwhelming demand for physical. That could take the form of SLV investors standing for delivery, whether that be the the industrial players, who are notoriously resolute, or even billionaire whales from India.

            ‘But in that event, which is already playing out, by the way, silver prices and premiums will continue to increase, maybe even dramatically, as the news of insufficient physical silver transmits itself through the market.’

            As those who follow precious metals will know, silver has only been at the US$50 level twice before — the first time was in 1980, when the Hunt brothers tried to corner the market, and the second instance was over a decade ago in 2011. Both of those moves were brief, and investors are understandably wondering if this time is different for silver.

            It’s impossible for anyone to say for sure, but I’ve been hearing market watchers highlight the gold-silver ratio as a way to gauge the outlook for silver.

            Ahead of silver’s US$50 landmark, David Morgan of the Morgan Report explained that the ratio shows silver still has room to rise. Here’s what he said:

            ‘We’re still in the 80s for the gold-silver ratio, which is historically high. And until we get to 70, I’m not going to be particularly happy. And off of today’s gold price, a 71 ratio would be like … US$55 silver, and that would be over that US$50 mark.’

            Morgan also talked about the psychological impact of US$50 silver, saying that it could prompt algorithmic traders and institutions to enter the sector:

            ‘You’ll see algorithms come in and start trading silver, and you’ll probably see institutions come in, because they know that it’s a small market, and they can move the market with a buy order, if it’s significant enough.

            How high can gold and silver prices go?

            Taking a step back to look at the precious metals rally as a whole, I want to reiterate that the experts I’ve been hearing from don’t think this is the end of the bull market.

            While many have emphasized that a correction would be healthy for gold and silver, they think the current cycle is still in progress and is likely to end with much higher prices.

            Here’s Lynette Zang of Zang Enterprises on what could be coming:

            ‘If you go back to the beginning of the year, what you actually see is that while everything is going up, the spot contracts on gold and silver, and particularly silver, are much stronger and more powerful than those prices that we’re seeing in the stock market, or even in the Bitcoin market, in the crypto markets.

            ‘Gold and silver are handily outperforming, and that’s telling us (why) the central banks have been accumulating more gold than they ever have since they began tracking — because they know what they’re doing to destroy the currencies.’

            It’s also worth noting that it’s not just people in the gold and silver space that are optimistic.

            Precious metals are increasingly making news headlines, and more and more mainstream authorities are touting their protective benefits.

            Just this week, American billionaire Ray Dalio of Bridgewater Associates suggested that investors allocate as much as 15 percent of their portfolios to gold. He compared the current environment to the 1970s, a time of high inflation and debt.

            Dalio’s opinion is similar to that of DoubleLine Capital’s Jeffrey Gundlach, who recently said a 25 percent weighting toward gold wouldn’t be excessive.

            Platinum and palladium take off

            Gold and silver may be attracting the most attention, but platinum and palladium are also on the move.

            Platinum, which spent years trading at rangebound levels, has broken out in 2025, and is currently above US$1,600 per ounce, a price not seen since 2013.

            Palladium, whose price has been subdued since seeing several spikes between about 2020 and 2022, was also on the move this week, approaching US$1,500 per ounce.

            While these precious metals are similar, it’s mostly platinum that’s being talked about as a potential opportunity for investors. Historically it’s often been priced higher than gold, and some see the two finding parity again in the future.

            Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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