Recap
- Bitcoin recovered to $115,000 Monday morning after slumping as low as about $103,000 in Friday's market crash. A sell-off in risk assets followed renewed US-China trade tensions, wiping $19.1bn in liquidations across the crypto market.
- Bitcoin had hit a new all-time high above $126,000 earlier in the week.
- Minutes from the last US Federal Reserve FOMC meeting revealed divisions over the pace of interest rate cutting, in contrast to the European Central Bank which has consistently communicated it will hold rates steady.
- Spot gold broke $4,000 for the first time, exceeding $4,078 by the start of this week.
- BNB leapfrogged XRP and Tether to become the third-largest coin by market cap.
- Deutsche Bank said Bitcoin is “likely” to feature on central bank balance sheets by 2030, according to a report.
Top Gainers
- ZEC (Zcash) +58%
- DASH (Dash) +51%
- TAO (Bittensor) +22%
Top Losers
- XPL (Plasma) -51%
- 2Z (DoubleZero) -46%
- IP (Story) -41%
Market Metrics
- Total Market Cap: $3.90tn (-7.2% vs last week)
- BTC Dominance: 58.8% (vs 58.5% last week)
- Fear and Greed Index: 31/100 (vs 58 last week)
- Alt Season Index: 31/100 (vs 62 last week)
This week, we'll be monitoring (all times UTC):
Tuesday 14 October
Economic data
- 06:00 UK Unemployment Rate: A rise in joblessness could signal economic weakness and increase the odds of a dovish BoE stance, supporting global liquidity and risk assets like crypto, while a stronger labour print could have the opposite effect.
Crypto event (token unlock)
- PUMP Token Unlock: Will release 10bn tokens (~2.82% of circulating supply), worth $55.92mn. May introduce short-term selling pressure depending on recipient distribution and market liquidity.
Central banks
- 16:20 Powell speech: US Federal Reserve Chair Jerome Powell speaks on "Economic Outlook and Monetary Policy" at the National Association for Business Economics (NABE) Annual Meeting in Philadelphia.
Wednesday 15 October
Economic data
- 01:30 China Inflation Rate YoY: Softer inflation would suggest weak domestic demand and may prompt further PBoC (People's Bank of China) easing, a tailwind for risk assets; a stronger print could limit policy support.
Central banks
- 13:00 Barr speech: US Federal Reserve Governor Barr speaks on stablecoins at DC Fintech Week in Washington, D.C.
Crypto event (token unlock)
- SEI Token Unlock: Will release 112.95mn tokens (~1.84% of circulating supply), worth $31.9mn. May introduce short-term selling pressure depending on recipient distribution and market liquidity.
Thursday 16 October
Economic data
- 06:00 UK GDP MoM: Strong growth would reinforce the global resilience narrative and support risk appetite, while a weak print could revive slowdown concerns.
- 12:30 US PPI MoM: A soft print would signal easing cost pressures and bolster dovish Fed expectations, while an upside surprise could weigh on risk assets including crypto.
Crypto event (token unlock)
- ARB Token Unlock: Will release 92.6mn tokens (~1.74% of circulating supply), worth $38.9mn. May introduce short-term selling depending on recipient distribution and market liquidity.
