Market Performance
- Bitcoin: 0.00% at 115,000
- Ethereum: +0.08% at 4,156
- Bitcoin Spot ETF: -$4.5 million
- Ethereum Spot ETF: -$174 million
- Dow Jones: -1.90%
- Nasdaq: -3.56% at 24,824
- S&P 500: -2.71% at 6,597
- Russell 2000: -3.01% at 2,394
- 10-Year US Treasury Yield: +1.95 basis points to 4.117%
- Dollar Index (DXY): -0.59% to 98.8223
- VIX: +31.83% to 21.66
- Brent Crude Oil: -4.80% to 62.09
- LBMA Gold: +1.05% to 4,017.845
Trump and Vance Try to Ease US-China Tensions
Trump announced that a 100% tariff would be imposed on Chinese goods starting November 1 and that some software exports would be restricted. However, he later tried to ease tensions by stating that they “wanted to help” China. Vice President Vance said he hoped for “rational negotiations.”
China’s Response: We Don’t Want a Trade War, But We Are Not Afraid
China’s Ministry of Commerce described the US decisions as “double standards.” The statement noted that high tariffs weaken bilateral relations and that China reserves the right to take countermeasures. It also called on the US to “immediately correct its misguided practices.”
Coalition Crisis in Japan
The Komeito Party announced it was leaving the LDP coalition it had maintained for 26 years. This development increased uncertainty over Prime Minister Sanae Takaichi’s leadership. Party officials said they might no longer support Takaichi.
Permanent Layoffs Begin in the US
The Trump administration announced that “permanent federal layoffs” have begun during the government shutdown. Thousands of employees in nine ministries will be affected. It was announced that unused R&D funds will be redirected to salary payments.
Investor Diplomacy Move from China
Deputy Prime Minister He Lifeng emphasized China’s openness to foreign investors in meetings with US, UK, and South Korean executives. He stated that China will continue its long-term growth with its “resilient and potential-filled” economy.
US Data and Expectations
The University of Michigan Consumer Confidence Index slightly exceeded expectations at 55.0. The 1-year inflation expectation fell to 4.6%, while the 5-10 year expectation remained steady at 3.7%. The data showed that consumer confidence remained weak.
The Smarter Web Company Increased Its Bitcoin Holdings
UK-based Bitcoin treasury company The Smarter Web Company purchased 100 more $BTC for £9,076,366. The company’s total Bitcoin holdings rose to 2,650, with a total value of approximately £219.57 million. This year’s Bitcoin return was recorded at 57.718%, while the quarterly return was 0.58%.
NetBrands to Create $100 Million Digital Treasury
NetBrands, a crypto mining company trading in the US, announced plans to establish a $100 million digital asset treasury. The company will hold BTC as a long-term reserve asset and also invest in $ETH and $AAVE to explore yield opportunities such as staking. The treasury, with an initial capital of $10 million, is expected to grow gradually.
The Bank of Russia plans to tokenize local company shares to make them accessible to foreign investors. Deputy Chairman Chistyukhin stated that the plan is feasible but that technical infrastructure and foreign partnership support play a critical role.
CZ: “Some Fear Us, We Focus on Empowering the Community”
Binance founder CZ said in a social media post, “Some see us as competitors because they fear us, but we focus on how we can empower the community.” CZ emphasized that Binance’s priority has always been user security.
Garrett Jin Denies Insider Trading Allegations
Garrett Jin, the whale who attracted attention with high-volume $BTC sales, stated that he has no connection to the Trump family and that his transactions were not insider trading. He stated that the funds belong to customers and that his team provides research and analysis services by running nodes.
Crypto Funding Rates at Lowest Level Since 2022
According to a Cointelegraph report based on Glassnode data, crypto funding rates have fallen to their lowest level since the 2022 crash. This indicates that leveraged positions in the market have been significantly liquidated and overall risk appetite has decreased.
