By Omkar Godbole (All times ET unless otherwise indicated)
The crypto market is immersed in a sea of green like Bitcoin It flirted with the $115,000 mark early today, extending its four-day climb from $108,000. The CoinDesk 20 index is up 2% over the past 24 hours, while ZEC, PI and ENA are up more than 10%.
The buzz is about anticipation of a Fed rate cut this Wednesday and talk of a US-China trade deal, both of which have boosted appetite for risk assets.
The money cycle is once again seeing an increase. Short-term holders and big whales have been draining coins from long-term wallets, which have been steadily draining cash since BTC prices strengthened above $100,000 in June.
Talking about major steps, the closed exchange Mount Gox extended the deadline for repayment of the creditor by one year to October 2026. According to blockchain spy The Data Nerd, Sharplink Gaming made a whopping 19,271 ETH ($78.3 million) in the Ether market. This huge purchase shows serious confidence in the potential of ETH.
Meanwhile, privacy coin ZEC got a big shout-out from the ever-loving Arthur Hayes, CIO of Maelstrom Fund. He is predicting a massive rise to $10,000, a figure that makes ETH’s current struggle to surpass $5,000 look like child’s play.
On the institutional front, CoinShares reported inflows of $921 million into digital asset products last week, a promising sign driven by lower than expected US CPI data. Bitcoin led the gains, while XRP, ETH and SOL lost demand.
Stablecoins hit the headlines with some game-changing headlines. Western Union is reportedly piloting a stablecoin settlement system to reduce reliance on old-school correspondent banks and streamline efficiency through the on-chain network. In Japan, JPYC Inc. has officially launched its yen-pegged stablecoin, JPYC, and Kyrgyzstan has joined the stablecoin party with its own national coin, which was minted with the help of Binance.
In traditional markets, frenzied demand for leverage from retail investors – evident in rising margin loans and record numbers of leveraged ETFs – emerged as a major concern, even as optimism built around easing US-China trade tensions.
As Morningstar wrote in an article last week, “This is adding fuel to the fire of concerns that investors are taking risks beyond what market fundamentals support.” Be alert!
what to watch
For a more comprehensive list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
- crypto
- October 27, 10am: Kadena (KDA) Chief Business Officer Anneliese Osborne is hosting an AMA on Telegram.
- macro
- October 27, 10:30 am: October Dallas Fed Manufacturing Index (ex-8.7).
- Income (Estimates based on FactSet data)
- PayPal Holdings (PYPL), pre-market.
- Visa (V), post-market.
symbolic events
For a more comprehensive list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
- governance vote and call
- GnosisDAO is voting to replace subgraph-based voting with on-chain and beacon chain data, adding StakeWise (sGNO, osGNO) support and improving voting accuracy while removing reliance on The Graph. Voting will end on October 28.
- unlock
- token launch
- October 27: VultSig (VULT) launches its token.
conference
For a more comprehensive list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
token talk
by oliver knight
- Crypto markets surge ahead of Wednesday’s Federal Reserve rate decision, impacting entire altcoin sector And Registering double digit profits.
- There was also a significant increase in tokens issued in or before 2018 And Both increased by 8% and 9.5% respectively, while ether Moved back into bullish territory with a surge above $4,150.
- The reversal in price action was not felt in the two newly issued tokens; Plasma and ester Both fell further lower as falling demand could not suppress the wave of selling pressure.
- Plasma initially rose to $1.67 in the days following the launch, bringing daily volume to $3.3 billion in the process. However, it now trades at $0.36 and daily volume has dropped to $297 million.
- Meanwhile, Aster is trading at $1.07 and has lost 43% in value over the past month. It was initially positioned as a rival to decentralized derivatives exchange Hyperliquid, but the hype has subsided after concerns about the legality of trading volumes on the platform.
- Bitcoin dominance rose slightly to 59.2% on Monday, up from a low of 57.1% six weeks ago, showing that investors still prefer BTC’s more measured gains over more speculative altcoin bets.
derivatives positioning
- BVIV, which measures BTC’s 30-day implied volatility, is down 44% year-to-date, nearly reversing its October 10 surge in a sign of easing market stress.
- The bias for Deribit-listed BTC put options has weakened across all periods. However, the long-term risk appetite still remains slightly bearish neutral. The same can be said for ETH, although on the short-end, the bias for ETH puts is still slightly higher than BTC.
- Last week, traders continued to sell topsides (calls) on the CME to collect premium and generate yield on their BTC longs.
- Open interest in futures linked to most cryptocurrencies except XRP, HYPE and HBAR have increased in the last 24 hours, indicating capital inflows amid the price rally.
- Although Bitcoin prices have reached October 21 highs, total open interest in USDT- and USD-denominated perpetual futures on major exchanges remains below levels seen on October 21. This divergence suggests that leveraged trader participation in the recent BTC rally has been limited.
market movements
- BTC is up 3.97% at $115,343.39 (24 hours: +2.51%) as of 4pm ET on Wednesday.
- ETH is up 5.8% at $4,170.55 (24 hours: +4.65%)
- CoinDesk 20 is up 4.43% at 3,835.89 (24 hours: +2.34%)
- Ether CESR Composite Staking Rate Drops 5bps to 2.82%
- The BTC funding rate on KuCoin is 0.0032% (3.504% annualized)
- DXY is down 0.12% at 98.83
- Gold futures are down 1.92% at $4,058.20
- Silver futures are down 1.77% at $47.72
- Nikkei 225 closed 2.46% higher at 50,512.32
- Hang Seng closed 1.05% higher at 26,433.70
- FTSE is down 0.06% at 9,640.23
- The Euro Stoxx 50 is up 0.28% at 5,690.65
- The DJIA closed 1.01% higher at 47,207.12 on Friday.
- The S&P 500 rose 0.79% to 6,791.69
- The Nasdaq Composite closed up 1.15% at 23,204.87.
- The S&P/TSX Composite rose 0.55% to 30,353.07.
- The S&P 40 Latin America fell 0.35% to 2,922.76
- US 10-year Treasury rate rises 2.7 bps to 4.024%
- E-mini S&P 500 futures are up 0.87% at 6,886.25
- E-mini Nasdaq-100 futures are up 1.27% at 25,833.50
- The E-mini Dow Jones Industrial Average index rose 0.58% to 47,669.00
bitcoin statistics
- BTC dominance: 59.84% (0.33%)
- Ether to Bitcoin ratio: 0.03614 (-0.44%)
- Hashrate (seven-day moving average): 1,125 EH/s
- Hashprice (spot): $49.69
- Total Fees: 2.03 BTC / $229,952
- CME Futures Open Interest: 148,460 BTC
- BTC price in gold: 27.4 ounces
- BTC vs Gold Market Capitalization: 7.74%
technical analysis
- Ether continues to trade within a well-defined descending channel and below the Ichimoku cloud, indicating a negative bias.
- A daily candle close (UTC) above $4,400 would confirm a double breakout, indicating room for a rally to $5,000.
crypto equities
- Coinbase Global (COIN): closed at $354.46 (+9.82%), +2.69% at $364 in pre-market on Friday
- Circle Internet (CRCL): closed at $142.05 (+9.39%), +2.84% at $146.09
- Galaxy Digital (GLXY): closed at $39.82 (+3.16%), +5.12% at $41.86
- Bullish (BLSH): closed at $54.22 (+0.65%), +3.43% at $56.08
- MARA Holdings (MARA): closed at $19.54 (+1.66%), +4.3% at $20.38
- Riot Platforms (RIOT): closed at $21.42 (+4.54%), +3.97% at $22.27
- Core Scientific (CORZ): closed at $19.34 (+7.09%), +1.5% at $19.63
- CleanSpark (CLSK): closed at $19.36 (+9.59%), +4.05% at $20.15
- CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $59.63 (+10.38%), +5.65% at $63
- Exodus Movement (EXOD): closed at $25.43 (+5.96%), +0.31% at $25.51
crypto treasury companies
- Strategy (MSTR): closed at $289.08 (+1.46%), +4.04% at $300.76
- Semler Scientific (SMLR): closed at $23.96 (+5.27%), +8.47% at $25.99
- Sharplink Gaming (SBET): closed at $13.92 (+3.07%), +6.32% at $14.80
- Upxi (UPXI): closed at $4.91 (+2.94%), +7.13% at $5.26
- Lite Strategy (LITS): closed at $1.94 (+3.74%), +6.19% at $2.06
etf flows
spot btc etf
- Daily net inflow: $90.6 million
- Cumulative net inflow: $61.95 billion
- Total BTC holdings ~1.35 million
spot eth etf
- Daily net flow: -$93.6 million
- Cumulative net inflow: $14.37 billion
- Total ETH holdings ~6.71 million
Source: Farside Investors