On the evening of October 3rd, the cryptocurrency market continued its upward trend. Data from the OKX exchange reveals that over the past 24 hours, Bitcoin (BTC) rose by nearly 1%, reaching $120,300.
Investors Are Buying Back Bitcoin
Other altcoins also saw gains. Ethereum (ETH) increased by over 1.3%, hitting $4,480; XRP rose more than 1%, surpassing $3; BNB climbed over 4%, reaching $1,100; and Solana (SOL) gained over 1%, hitting $229.
According to CoinDesk, Bitcoin’s price has surged approximately 10% over the past week, reaching $120,327. On October 2nd, the cryptocurrency briefly surpassed $121,000, its highest level since mid-August, as per CoinDesk data.
Bitcoin is trading at $120,353. Source: OKX
The price surge is driven by investors returning to buy rather than sell. Holders of medium and small amounts of Bitcoin have begun accumulating, while larger investors continue to sell off.
Additionally, the U.S. market has played a significant role, with Bitcoin consistently rising during U.S. trading hours, resulting in an 8% increase over just four days.
Lessons from the Shark Bình Case
On October 3rd, at the 2025 National Scientific Conference on Economics, Law, and Public Administration organized by the School of Economics, Law, and Public Administration (CELG) of the University of Economics Ho Chi Minh City (UEH), MSc. Lưu Ánh Nguyệt, Deputy Head of the Financial Market Development Division at the Institute for Economic and Financial Policy and Strategy, Ministry of Finance, presented a paper on the cryptocurrency market.
Ms. Nguyệt stated that Resolution 05/2025/NQ-CP on the pilot cryptocurrency market, recently issued by the government, is a crucial step in promoting the development of the digital asset market.
Referring to the case involving the Antex cryptocurrency project of entrepreneur Nguyễn Hòa Bình (Shark Bình), which has garnered attention recently, she noted that while cryptocurrency transactions are often perceived as anonymous, they are actually highly transparent due to traceable code and blockchain data.
According to Ms. Nguyệt, funds transferred from investors to project wallets and subsequently moved through related wallets, including personal ones, can be publicly tracked. With appropriate monitoring tools, regulatory bodies can effectively control and trace these financial flows.
This serves as a vital lesson from international experience, enabling Vietnam to develop its digital asset market while ensuring transparency and investor safety.
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