By Francisco Rodrigues (all times one unless otherwise stated)
Bitcoin moved higher in the middle of the US government’s shutdown and its up approx. 3% over the past 24 hours to $ 116,400. The wider crypto market, measured by Coindesk 20 index (CD20), increased 3.5%.
Shares markets excluding the United States also moved higher even when dealers remain cautious over the shutdown. Europe’s Stoxx 50 has risen 0.3% in today’s session, while FTSE 100 increased 0.7%. However, futures on the S&P 500 have fallen 0.55%, while on Nasdaq they are down 0.64%.
The shutdown of the US government can lead to delays in economic data composed of threatening tariffs on various objects. This has apparently seen investors move away from the country and into alternative value stores.
This uncertainty has seen the price of gold rise 3.75% in the last week for now to hover about $ 3,890 per day. Ounce. SPOT CRYPTO ETFS drew more than $ 550 million in net flow on September 30, with Spot Bitcoin ETFs representing the brother party of this number.
The flight to alternative assets occurs against a favorable macroeconomic background.
Federal Reserve is expected to continue to reduce interest rates this month, with polyming dealers weighing an 85% chance of a 25 bps cut. This figure is almost 95% in CME’s FedWatch tool. Lower interest rates could make risk assets that include cryptocurrencies more tasty for investors.
Institutional involvement is also elaborated in the middle of the changing monetary policy. Blackrock’s Ishares Bitcoin Trust (Ibit) overtook abandoned to become the top place of Bitcoin options, which deals with open interest, now near $ 38 billion.
“We have seen the convergence of both institutional support and maturation across the Bitcoin ecosystem. Bitcoin is more embedded in the basis of global funding, and institutional interest is on a constant,” Dom Harz, co-foudner of Bitcoin Defi Gateway Bob, told Coindesk.
“Unlike previous years, this follow-up will see more targeted influx, which could be a breakout moment in accelerating Bitcoin Defi as investors will do more with their Bitcoin stocks; transform it from a static store to value to a assignment of asset class,” he added.
In fact, Bitcoin exposure combined with dividends appears to be a new trend. Right this morning Swiss Digital Bank Sybnym launched a new BTC Alpha Fund for the purpose of generating yields on Bitcoin without reducing exposure to Cryptocurrency’s price movements.
While traditional markets are likely to see lower volatility due to the upcoming data vacuum from the government’s shutdown, Crypto Market sees a wave of spot ETF decisions in the near future to look forward to.
SEC is scheduled to make decisions about a total of 16 SPOT CRYPTO ETF applications this month. Stay aware!
What to look at
For a more comprehensive list of events this week, see Coindesk’s Week-Head note.
- Crypto
- Macro
- October 1, 8:15: US September ADP Employment Change Est. 50k.
- October 1, 7 p.m.
- October 1, 7 p.m. 9:30: S&P Global Canada Sept. Manufacture of PMI (Prev. 48.3).
- October 1, 7 p.m. 9:45am: S&P Global US September Manufacturing PMI (Final). Est. 52.
- October 1, 7 p.m. 10: USA ISM Sept. Preparation of PMI est. 49.
- October 1, 7 p.m. 10: US Senates Finance Committee Consultation entitled “Examination of Taxation of Digital Assets”
- October 1, 7 p.m. 11: S&P Global Mexico Sept. Manufacture of PMI (Prev. 50.2).
- Earnings (Estimates based on Factset -Data)
Token -events
For a more comprehensive list of events this week, see Coindesk’s Week-Head note.
- Management votes and calls
- Gnosisdao votes on a submitted proposal to set up a pilot fund of $ 40,000. This would allow society to directly finance small ecosystem projects using a conviction of the voting pool. Voting ends October 1st.
- Unlock
- 1. October: To unlock 1.23% of its circulating supply worth $ 137.27 million.
- October 1: Eigenlayer (own) to lock 13.77% of its circulating supply worth $ 64.07 million.
- Token launches
- October 1: Swam Network (SWM) to be performed on Binance Alpha, Kucoin, Bitmart and others.
Conferences
For a more comprehensive list of events this week, see Coindesk’s Week-Head note.
Token Talk
By Oliver Knight
- Privacy Leads the package Wednesday and rises to its highest point since May 2022 after a break against its Bitcoin and Dollar trading couple.
- ZEC affected $ 97.25 before retiring to about $ 92.00 – an increase of 41% for the day on the back of a 36% increase in daily trade volume to $ 300 million.
- The wave comes along with a lift across the wider altcoin -market with defi -tokens curve (CRV) and Everyone increased by more than 8%.
- A number of catalysts triggered crypto recovery; The US Government’s shutdown that brought the dollar lower and gold to fresh record heights of $ 3,887.
- Altcoins have surpassed Bitcoin so far on Wednesday, although it is worth noting that the average crypto -relative strength index (RSI) is approaching overbought territory, suggesting that a period of consolidation is on the cards when the market begins to cool.
- A market’s outlier was Aster, the native token for its name Aake’s BNB chain-based eternal exchange. Aster fell by 6.8% Wednesday to put together a 25% decrease over the past week as hype in the Hyperliquid rival begins to fade.
Derivatives Location
- BTC Futures Market still shows a strengthening bullish bias. The overall futures open interest rates remain high of about $ 31.69 billion, reflecting sustained trader engagement, with binance still leading the package to $ 13.19 billion. At the same time, it holds the 3-month annual basis between 6% and 7%, which indicates that the yield from the basic trade remains robust. This consistent metric across both open interest and basis suggests that dealers not only increase their exposure, but do so with conviction, which strengthens the positive mood observed on the market.
- The BTC option market continues to show a deviation between its key metrics that presents a complex image of market mood. While the 25 Delta Skew for short-term options remains low, which suggests that dealers are still willing to pay a premium to uncover at downward risk, the 24-hour put volume points to an increase in Bullish speculation. The latest data shows that calls now make up 63.54% of the total volume, a strong reversal from a put-dominated market. These contradictory data indicates a very polarized environment, with some dealers being uncovered against potential price drop, while a larger number of actively rates on a short -term demonstration.
- Financing rates have not only been positive on larger exchanges such as Binance and OKX, but have picked up everywhere, including on the historically unstable Hyperliquid. Reveals, in particular, sees a significant premium in which the annual financing rate jumps to 17%. This indicates a strong and sustained demand for geared long positions as dealers are consistently willing to pay a high prize to keep their bullish bet. The widespread positive funding across all major platforms signalizes a collective market oversight in a continued upward trend for BTC.
- Coinglass data shows $ 644 million in 24 hours of liquidation with a 38-62 split between along and shorts. BTC ($ 166 million), ETH ($ 164 million) and others ($ 69 million) were leaders in terms of nominal liquidation. Binance -likvidation Heatmap indicates $ 116,650 as a core liquidation level to monitor, in case of a price increase.
Market movements
- BTC has risen 1.54% from 1 p.m. 16 A Tuesday to $ 116,430.81 (24 hours: +3.02%)
- ETH has increased by 2.8% of $ 4,313.90 (24 hours: +3.25%)
- Coindesk 20 has increased by 2.61% at 4,140.33 (24 hours: +4%)
- Ether Cesr Composite Staking Rate is down 6 BPS at 2.87%
- BTC financing rate is at 0.0066% (7,1974% annual) on Binance
- DXY is unchanged at 97.74
- Gold Futures have risen 1.18% of $ 3,919.00
- Silver Futures have risen 1.73% of $ 47.44
- Nikkei 225 closed 0.85% at 44,550.85
- Hang bed closed 0.87% at 26,8555.56
- FTSE has increased 0.66% at 9,412.09
- Euro Stoxx 50 has increased 0.31% at 5,546.86
- Djia closed Tuesday to 0.18% at 46,397.89
- S&P 500 closed 0.41% at 6,688.46
- Nasdaq Composite closed 0.30% at 22,660.01
- S&P/TSX Composite closed 0.17% at 30,022.81
- S&P 40 Latin America closed 0.21% at 2,951.50
- US 10-year-old Treasury has risen 0.2 bps by 4,152%
- E-MINI S&P 500 Futures are down to 0.54% at 6,702.50
- E-MINI NASDAQ-100 FUTURES ARE DOWN 0.62% AT 24,748.00
- E-MINI DOW JONES Industrial Average Index has fallen 0.47% at 46,471.00
Bitcoin statistics
- BTC Dominance: 58.88% (-0.28%)
- Ether to Bitcoin Relationships: 0.03690 (1.51%)
- Hashrate (Seven-Day Sliding Average): 1,058 EH/S
- Hashprice (Spot): $ 51.68
- Total fees: 3.15 BTC / $ 359,057
- Cme futures open interest: 134,400 BTC
- BTC priced in gold: 30.1 oz
- BTC VS GOLD MARKET CAP: 8.49%
Technical analysis
- Pump has been one of the strongest assets from the lows earlier this week and jumped from the golden pocket to $ 0.0048 after the feature of the All-Time Highs. After finding acceptance of the annual open that coincides with 20D EMA, pump is now traded back to the first heights of $ 0.0069.
- If the momentum continues, pumping can target the daily order block around $ 0.0074, which, if cleared, can lead to new high times. Bulls would like to see that pump continues to act over the annual open in the event of a step -down.
Crypto shares
- COINBASE GLOBAL (COIN): CLOSED Tuesday at $ 337.49 ( +1.05%), +1.83% to $ 343.68 in Pre-Market
- Circle Internet (CRCL): Closed to $ 132.58 (-0.81%), +1.54% to $ 134.62
- Galaxy Digital (GLXY): Closed at $ 33.81 (-1.4%), +2.37% to $ 34.61
- Bullish (BLSH): Closed to $ 63.61 ( +2.1%), +0.46% to $ 63.90
- Mara Holdings (Mara): Closed to $ 18.26 (-2.14%), +2.14% to $ 18.65
- Riot Platforms (Riot): Closed to $ 19.03 (-3.79%), +1.37% to $ 19.29
- Core Scientific (Corz): Closed to $ 17.94 ( +3.52%), +0.33% for $ 18
- Cleanspark (CLSK): CLOSED TO $ 14.5 (-2.49%), +2.41% to $ 14.85
- COINSHARES VALKYRIE BITCOIN MINERS ETF (WGMI): CLOSED TO $ 44.24 ( +0.07%), +1.6% TO $ 44.95
- Exodus Movement (Exod): Closed to $ 27.78 (-4.04%)
Crypto Treasury Companies
- Strategy (Mstr): Closed to $ 322.21 (-1.29%), +2.66% to $ 330.78
- Semler Scientific (SMLR): Closed at $ 30 ( +2.6%), +2.03% to $ 30.61
- Sharplink Gaming (SBet): Closed to $ 17.01 (-1.45%), +2.59% to $ 17.45
- Upexi (Upxi): Closed to $ 5.77 ( +2.67%), +6.93% to $ 6.17
- Lite strategy (lits): closed to $ 2.42 (-4.72%), +6.61% to $ 2.58
Etf is flowing
SPOT BTC ETFS
- Daily Net Tream: $ 429.9 million
- Cumulative net streams: 57.72 billion dollars
- Collected BTC holdings ~ 1.32 million
SPOT ETH ETFS
- Daily Net Tream: $ 127.5 million
- Cumulative net streams: $ 13.81 billion
- Collected Eth Holdings ~ 6.58 million
Source: Father’s page -Investors
While you were asleep
