Blog

BTC removes Wednesday’s spike, JPM warns stock crash: Crypto Daybook Americas

0 0 9 minutes read

By Omkar Godbole (at all times and unless indicated otherwise)

After a brief rebound on Wednesday, the BTC and the broader crypto market returned to Red on Thursday – despite Fed’s minutes showing a bias towards more rates. The CoinDesk 20 index (CD20) also fell over 1% to 4,163 points.

What’s behind the fresh stumbling Most of these are likely to decrease the stable strength in the dollar index (DXY), which continues to shave the appeal of USD denomination assets, including crypto.

Meanwhile.

In global news, early Thursday brought a glimmer of hope as President Trump announced a deal with peace between Israel and Hamas with potential hostage releases on Monday, confirmed by Qatar Media. However, oil prices are slightly over $ 62, suggesting entrepreneurs will remain careful about the durability of the agreement.

In front of the crypto, solana Sol$224,97 Digital Asset Treasury Company Helius announced plans to get at least 5% of Solana’s supply, Coinbase launched Decentralized Exchange (Dex) trade within its app for US users (other than New York), and the founder of the Polymarket teased a possible launch of their native token, poly to token.

Moving gears to the traditional market, the gold was held strong above $ 4,000, denied the dollar rally, while the S&P 500 futures were shaving flat near record highs. Jamie Dimon, Chief Executive of JP Morgan, told the BBC that he was “more concerned than others” about the possibility of a major stock market falling in the coming months.

Stay alert!

What to watch

For a more comprehensive list of events this week, see CoinDesk’s “Crypto’s early weeks“.

Crypto
- October 9, 11:30 AM: CASPER (CSPR) Core Team is Relieving -Host A monthly machine update through Google Meet.
- October 9, 12 pm: Chronos (CRO) team is Relieving -Host A father in X.
Macro
- October 9, 8 AM: Brazil Sept. Headline inflation rate yoy est. 5.22%, mom est. 0.22%.
- October 9, 8 AM: Mexico Sept. Inflation rate. Headline yoy est. 3.79%, mom est. 0.27. Core yoy est. 4.28%, Mom East. 0.32%.
- October 9, 8:30 AM: Those who claim unemployed. Initial ((for the week ended October 4) est.Report delayed due to the current federal government closure)
- October 9, 8:30 AM: Fed Chair Jerome H. Powell delivers welcome statements to Community Bank Conference, Washington, DC Watch live.
We are (Estimates based on factset data)

Events with the token

For a more comprehensive list of events this week, see CoinDesk’s “Crypto’s early weeks“.

Votes and Management Calls
- Decentrand Dao is Voting To replace the DAO Committee with a 3-of-5 multisig of ecosystem representatives, the transfer of only implementation duties while the council remains supervised. Voting ends October 10.
Unlocks
- October 10: Line$0.02573 To unlock 6.57% of his circulating -switch supply worth $ 27.9 million.
Launching a token

Conference

For a more comprehensive list of events this week, see CoinDesk’s “Crypto’s early weeks“.

Token talk

By Oliver Knight

The Crypto Exchange Binance introduced Meme Rush, a platform designed for users to achieve a wave of Chinese Memecoins.
The platform directly taps the Memecoin Craze by embedding the early stages of meme token curation and trading within its purse.
It source lists through community launch hubs (for example four.meme in the BNB chain), which ranks through both on-chain volume and social traction, allowing Binance to obtain the conceptual pre-Dex list.
Built-in reward mechanics (4 × Binance alpha points) are aligned with user activity with monetization. Boom on Chinese Language Memecoin projects in the BNB chain strengthens the hype and drives attention throughout the ecosystem.
In Pancakeswap V2, the sun -the -day trading volume recently hit $ 15.55 billion, according to CoinMarketCapemphasizing how the active memecoin markets remain.
Most of the quantities occurred in smaller known memecoins such as 币安 holder, which raised nearly $ 1 billion in volume of 163,000 transactions.

Derivatives positioning

AVAX, Aster, Pump and XPL have led to falling into futures that are open interest over the past 24 hours. OI in BTC and ETH dropped 1% and 3%, respectively. These capital outflows are likely to come from income to getting long.
The OI in the USDT and USD-denominated BNB Perpetuals listed in major exchanges continues to walk below the climax of September, varying from rising prices of the area.
The annual Perpetual funding rates will continue to have to be in or below 10% for most major tokens, a sign that the market remains healthy without any froth signs.
In the CME, the positioning remains elevated to the bitcoin -related ether futures. The OI in Sol Futures has been a record of a record of 9 million Sol, with premiums falling to 13%, the lowest since early September.
In the derivit, the story remains the same: BTC, ETH puts ongoing trading at a premium to call at the end of December. The block flows through the paradigm that features risks at risk.

Movements in the market

BTC dropped 0.84% from 4 pm et Wednesday to $ 121,875.74 (24hrs: -0.87%)
ETH dropped 11.10% to $ 4,005.03 (24hrs: -3.5%)
CoinDesk 20 dropped 2.49% to 4,161.60 (24hrs: -1.63%)
Ether CESR Composite Staking Rate drops 4 bps to 2.85%
BTC funding rate is at 0.0054% (5.9141% annual) in Binance

DXY does not change to 98.90
Gold futures dropped 0.37% to $ 4,055.60
Silver futures dropped 0.45% to $ 48.78
Nikkei 225 closes 1.77% to 48,580.44
Hang Seng closed 0.29% to 26,752.59
FTSE drops 0.45% to 9,506.23
Euro Stoxx 50 is up to 0.11% to 5,655.94
Djia closed Wednesday without changing 46,601.78
S&P 500 closed 0.58% to 6,753.72
NASDAQ composite closed 1.12% to 23,043.38
The S&P/TSX Composite closed 0.5% to 30,501.99
S&P 40 Latin America closed 1.17% to 2,873.25
US 10-year Treasury Rate dropped 0.2 bps to 4.129%
E-Mini S&P 500 Futures does not change to 6,801.00
E-Mini Nasdaq-100 Futures do not change to 25,324.25
E-Mini Dow Jones Industrial Average Index does not change to 46,887.00

Bitcoin stats

BTC Dominance: 59.38% (0.63%)
Ether in bitcoin ratio: 0.03568 (-2.78%)
Hashrate (seven-day average move): 1,011 eh/s
HASHPRICE (spot): $ 50.97
Total Fees: 3.37 BTC / $ 414,551
CME Futures Open Interest: 146,530 BTC
BTC is priced in gold: 30 oz
BTC vs Gold Market Cap: 8.47%

Technical analysis

ETH -day -to -day chart in Candlestick format. (Tradingview) — ETH -day -day chart. (Tradingview)

Ether dropped to $ 4,350 from $ 4,750 to two days, which was incorrectly bullish breakout from the flag pattern.
The failed breakout indicates that the seller will get control again, and the pullback may deepen in the coming days.
The stochastic is open from above 80 or excessive thinking, confirming the bearish case.

Crypto equities

Coinbase Global (coin): Closed Wednesday for $ 387.27 (+3.06%), -1.6% at $ 381.07
Circle Internet (CRCL): closed to $ 150.46 (+1.17%), -1.12% at $ 148.77
Galaxy Digital (GLXY): closed at $ 41.39 (+4.57%), -0.8% at $ 41.06
Bullish (BLSH): closed to $ 67.41 (+3.55%), -1.5% at $ 66.40
Mara Holdings (Mara): closed at $ 20.2 (-0.25%), -0.89% at $ 20.02
Riot Platform (RIOT): Closed at $ 21.99 (+2.42%), -1% at $ 21.77
Core Scientific (Corz): closed at $ 17.53 (+2.51%), -0.11% at $ 17.51
CleansPark (CLSK): closed to $ 18.98 ( +5.68%), +0.47% at $ 19.07
Coinshares Valkyrie Bitcoin Miners ETF (WGMI): Closed to $ 55.38 (+3.75%), unchanged in pre-market
Exodus Movement (EXOD): Closed to $ 30.07 (+1.21%)

Crypto treasury companies