Of Omkar Godbole (all times one unless otherwise stated)
After a short rebound on Wednesday, BTC and the wider crypto market slipped back in the red on Thursday – despite the fact that the fat protocols show a bias against several slopes. Coindesk 20 index (CD20) also fell over 1% to 4,163 points.
What lies behind the fresh stumble? Much of it probably comes down to the stable strength of the dollar index (DXY), which continues to dampen the appeal to USD-denominated assets, including crypto.
Meanwhile, the US government’s shutdown and leave dealers in a holding pattern as they anxiously wait for bold president Jerome Powell’s speech later Thursday to hint for political direction, especially with fresh jobs and inflation data temporarily on break.
In global news, early Thursday brought a glimpse of hope when President Trump announced a peace deal between Israel and Hamas with potential hostages before Monday, confirmed by Qatar Media. Still pushing oil prices just over $ 62, suggesting that dealers remain cautious about the durability of the agreement.
On the crypto front, Solana Digital Asset Treasury Company Helius revealed plans to acquire at least 5% of Solana’s supply, Coinbase launched Decentralized Exchange (DEX) trading within its app for US users (except in New York), and the founder of the Polymarket teased a possible launch of their original token, Poly.
Changing gears to traditional markets, gold held over $ 4,000 and defy the dollar rally, while the S&P 500 futures hovered flat near record heights. Jamie Dimon, CEO of JP Morgan, told the BBC that he is “far more concerned than others” over the possibility of a major stock market fall in the coming months.
Stay aware!
What to look at
For a more comprehensive list of events this week, see Coindesk’s “Crypto Week ahead”.
- Crypto
- October 9, 11:30: Casper (CSP) Core Team hosts a monthly update of the engine via Google Meet.
- October 9, 7 p.m. 12: Cronos (CRO) Team hosts an AMA on X.
- Macro
- October 9, 7 p.m. 8: Brazil Sept. Heading Inflation Rate Yoy Est. 5.22%, mother est. 0.22%.
- October 9, 8 Am: Mexico Sept. Inflation rate. Heading yoy est. 3.79%, mother est. 0.27. Core yoy est. 4.28%, mother est. 0.32%.
- October 9, 8:30: The unemployed requirements of the United States. Preliminary ((for week ending October 4), est. 223k, continued (for the week ended September 27) Est. 1930K. (Report delayed due to the shutdown of the current federal government)
- October 9, 8:30: Fed -Chairman Jerome H. Powell delivers welcome remarks at the Community Bank conference, Washington, DC Watch Live.
- Earnings (Estimates based on Factset -Data)
Token -events
For a more comprehensive list of events this week, see Coindesk’s “Crypto Week ahead”.
- Management votes and calls
- Decentraland DAO is voting to replace the DAO committee with a 3-of-5 multiSIG by ecosystem representatives who change tasks only while the Council retains supervision. Voting ends October 10th.
- Unlock
- October 10: To lock 6.57% of its circulating supply worth $ 27.9 million.
- Token launches
Conferences
For a more comprehensive list of events this week, see Coindesk’s “Crypto Week ahead”.
Token Talk
By Oliver Knight
- Crypto Exchange Binance has introduced Meme Rush, a platform designed for users to utilize a wave of Chinese-linguistic Memecoins.
- The platform is tapping directly into the Memecoin craze by embedding meme-token curation and trade within its wallet.
- It sources list via community launch nodes (for example, four.Meme on BNB chain), ranking both on-chain volume and social traction, which lets Binance capture speculative interest before the DEX list.
- Its built -in reward mechanics (4 × Binance Alpha Points) adjust the user activity with monetization. The boom of Chinese-linguistic Memecoin projects on the BNB chain enhances hype and drives awareness of the ecosystem.
- At Pancakeswap V2, Daily Trading Volume recently hit $ 15.55 billion, according to CoinMarketcap, emphasized how active DEX MEMECIN markets remain.
- The majority of volume has taken place on lesser known memcoins that 币安 holder, which totaled about $ 1 billion in volume across 163,000 transactions.
Derivatives Location
- Avax, Aster, Pump and XPL lead the fall in the Futures Open Interest in the last 24 hours. OI in BTC and ETH have fallen by 1% and 3% respectively. These capital outflows probably come from the profits assuming along.
- Oi in USDT and USD-denomined BNB evils listed on larger exchanges continues to hover during its September top and diverges Bearishly from the rising spot price.
- Annual eternal financing rates continue to hover on or less than 10% for most major tokens, a sign that the market remains healthy without signs of foam.
- On CME, positioning increases in ether futures compared to Bitcoin. Oi in Sol Futures is hovering with a record high over 9 million sun, with prizes that fall to 13%, the lowest since the beginning of September.
- At the dismissal, the story remains the same: BTC, ETH continues to trade with a prize to call for the expiry of December. Block currents over paradigm contained risk conversions.
Market movements
- BTC is down by 0.84% from 1 p.m. 16 A Wednesday to $ 121,875.74 (24 hours: -0.87%)
- ETH is down to 11.10% of $ 4,005.03 (24 hours: -3.5%)
- Coindesk 20 has dropped 2.49% at 4,161.60 (24 hours: -1.63%)
- Ether Cesr Composite Staking Rate is down to 4 bps at 2.85%
- BTC financing rate is 0.0054% (5,9141% annual) on Binance
- DXY is unchanged at 98.90
- Gold Futures have fallen 0.37% of $ 4,055.60
- Silver Futures have fallen 0.45% of $ 48.78
- Nikkei 225 closed 1.77% at 48,580.44
- Hang bed closed 0.29% at 26,752.59
- FTSE has dropped 0.45% at 9,506.23
- Euro Stoxx 50 has increased 0.11% at 5,655.94
- Djia closed Wednesday unchanged at 46,601.78
- S&P 500 closed 0.58% at 6,753.72
- Nasdaq Composite closed 1.12% at 23,043.38
- S&P/TSX Composite closed 0.5% at 30,501.99
- S&P 40 Latin America closed 1.17% at 2,873.25
- US 10-year-old Treasury has dropped 0.2 bps on 4.129%
- E-MINI S&P 500 Futures are unchanged at 6,801.00
- E-MINI NASDAQ-100 FUTURES are unchanged at 25,324.25
- E-MINI DOW JONES Industrial Average Index is unchanged at 46,887.00
Bitcoin statistics
- BTC Dominance: 59.38% (0.63%)
- Ether to Bitcoin ratio: 0.03568 (-2.78%)
- Hashrate (Seven-Day Sliding Average): 1,011 EH/S
- HashPrice (Spot): $ 50.97
- Total fees: 3.37 BTC / $ 414.551
- CME Futures Open Interest: 146,530 BTC
- BTC priced in gold: 30 oz
- BTC VS GOLD MARKET CAP: 8.47%
Technical analysis
- Ether has dropped to $ 4,350 from $ 4,750 in two days and invalidates the bullish breakout from the flag pattern.
- The failed breakout indicates that sellers have regained control and the retreat could elaborate on the coming days.
- Stochastically, has been sharp lower from over 80 or overbought reading, confirming the bearish case.
Crypto shares
- Coinbase Global (COIN): Closed Wednesday of $ 387.27 (+3.06%), -1.6% to $ 381.07
- Circle Internet (CRCL): Closed to $ 150.46 (+1.17%), -1.12% to $ 148.77
- Galaxy Digital (GLXY): Closed at $ 41.39 (+4.57%), -0.8% to $ 41.06
- Bullish (BLSH): Closed to $ 67.41 (+3.55%), -1.5% to $ 66.40
- Mara Holdings (Mara): Closed to $ 20.2 (-0.25%), -0.89% to $ 20.02
- Riot Platforms (Riot): Closed to $ 21.99 (+2.42%), -1% to $ 21.77
- Core Scientific (Corz): Closed to $ 17.53 (+2.51%), -0.11% to $ 17.51
- Cleanspark (CLSK): Closed to $ 18.98 ( +5.68%), +0.47% to $ 19.07
- COINSHARES VALKYRIE BITCOIN MINERS ETF (WGMI): CLOSED TO $ 55.38 (+3.75%), unchanged in market
- Exodus Movement (Exod): Closed at $ 30.07 (+1.21%)
Crypto Treasury Companies
- Strategy (Mstr): Closed to $ 330.8 (+0.73%), -1.69% to $ 325.21
- Semler Scientific (SMLR): Closed to $ 28.2 (-0.56%), +0.39% to $ 28.31
- Sharplink Gaming (SBet): Closed to $ 17.57 (-1.13%), -2.39% to $ 17.15
- UPEXI (UPXI): CLOSED TO $ 7.17 (+1.7%), -3.07% TO $ 6.95
- Lite strategy (lits): closed to $ 2.5 (+2.04%)
Etf is flowing
SPOT BTC ETFS
- Daily Net Tream: $ 440.7 million
- Cumulative net streams: 62.53 billion dollars
- Collected BTC holdings ~ 1.35 million
SPOT ETH ETFS
- Daily Net Tream: $ 69.1 million
- Cumulative net streams: $ 15.11 billion
- Collected Eth Holdings ~ 6.88 million
Source: Father’s page -Investors
While you were asleep
