Market Performance
| Asset / Index | Value ($) | Daily Change (%) |
|---|---|---|
| Bitcoin (BTC) | 109,930.0 | +1.32% |
| Ethereum (ETH) | 3,836.22 | +0.85% |
| Bitcoin Spot ETF | −488.4M | Net Outflow |
| Ethereum Spot ETF | −181.0M | Net Outflow |
| Nasdaq (NAS100) | 26,023.3 | +0.06% |
| S&P 500 (SPX) | 6,822.35 | −0.99% |
| Russell 2000 (RUT) | 2,461.0 | −0.34% |
| U.S. Dollar Index (DXY) | 99.621 | +0.10% |
| VIX Volatility Index (VIX) | 16.43 | −2.78% |
| U.S. 10-Year Treasury Yield (US10Y) | 4.109 | +0.29% |
| Brent Crude Oil (BRENT) | 63.975 | +0.13% |
| LBMA Gold (XAU) | 4,018.090 | −0.16% |
| LBMA Silver (XAG) | 49.3103 | +0.81% |
| Prepared at UTC 07:22 am — MORNING NEWS – October 31, 2025 | ||
Today’s Key Events
- Bitcoin Whitepaper Day
- FOMC Member Logan Speaks
- FOMC Member Bostic Speaks
- FOMC Member Hammack Speaks
- China October PMI Data
- $16 Billion in BTC and ETH Options Expire on Deribit
US-China Summit: Mutual Tariff Suspension Extended for One Year
- The meeting between US President Donald Trump and Chinese President Xi Jinping lasted 1 hour and 40 minutes, and Trump described the meeting as “a 12 out of 10.” The parties agreed to a 10% reduction in fentanyl tariffs, mutual tariffs, and export restrictions for one year. China agreed to increase agricultural and energy imports and approve TikTok’s transfer to the US. New tariff talks are planned for November 2026.
- Treasury Secretary Scott Bessent stated that the agreement will be signed next week. China will import 12 million tons of soybeans and $44 billion worth of Alaska LNG by 2026. The US side stated that investigations under “Section 301” will continue, and therefore did not rule out the possibility of new tariffs.
Bessent: Fed Chair Expected to be Appointed Before Christmas
Bessent described the Fed’s interest rate cut decision as “appropriate but late.” Noting that current models “no longer work,” Bessent said the new Fed Chair to replace Powell will be appointed before Christmas. The list of candidates includes Waller, Bowman, Hassett, Warsh, and Riedel.
Tension in the Credit Market: BlackRock and HPS Under Investigation
Following the default of Jefferies’ client First Brands, BlackRock and HPS’s private credit risks came to the fore. The companies are being sued for over $500 million in debt linked to fake customer contracts dating back to 2018. Powell reassured markets by stating that the issue was “not systemic.”
US Tech Giants Report Strong Earnings
- Amazon: Revenue reached $180.17 billion (+13%), net income $21.2 billion (+38%), driven by accelerated AWS growth. EPS was $1.95, exceeding expectations. Shares rose 13%.
- Apple: Fourth-quarter revenue was $102.5 billion (+7.9%), in line with estimates. EPS was $1.85, exceeding expectations. Despite a decline in Greater China revenue, iPhone sales remained strong.
- Strategy: Revenue exceeded expectations at $128.69 million (+10%), but EPS of $8.42 fell 13% short of the $9.67 forecast. On an annual basis, EPS rose 590% and revenue increased 11%. On a quarterly basis, EPS fell 74% while revenue rose 12%.
- Riot Platforms: EPS of $0.26 exceeded the $0.13 expectation by 100%. Revenue of $180.23 million (+5%) was above estimates. EPS increased by 148% year-over-year, and revenue rose by 113%. However, on a quarterly basis, EPS fell by 54%, while revenue rose by 18%.
- Coinbase Global: EPS exceeded expectations of $1.17 by 28% at $1.50, and revenue exceeded forecasts at $1.869 billion (+4%). EPS increased 436% year-on-year, and revenue rose 55%. On a quarterly basis, EPS decreased 71%, and revenue increased 25%.
Eurozone Economy Grew Above Expectations
GDP rose 0.2% in Q3, exceeding expectations. The ECB kept interest rates steady at 2%. Lagarde said risks had decreased and policy was at an “appropriate level.” However, if inflation remains low, a possible rate cut in December could be discussed.
TRUMP Meme Coin Team Purchased VALOR
According to on-chain analysis platform Lookonchain, the official TRUMP Meme Coin team wallet purchased 27.37 million VALOR worth approximately $240,000. The VALOR token was launched via America Launchpad and, with this transaction, became the second-largest asset in the team wallet (after TRUMP). This move is interpreted as a sign of the team’s strategic interest in new projects.
Michael Saylor: Strategy Not Interested in Acquiring Bitcoin Companies
Strategy founder Michael Saylor stated during the third-quarter earnings call that there are no plans to acquire other Bitcoin reserve companies. Saylor said, “Mergers and acquisitions typically take a long time and are fraught with uncertainty. An idea that looks good today could be bad six months from now.” The company will continue to focus solely on organic growth and its Bitcoin accumulation strategy.
Grayscale: $5 Billion Inflow Expected for Solana ETF
Grayscale executive Zach Pandl predicted that the Solana spot ETF could attract $5 billion in funds over the next two years. Pandl noted that Solana could rapidly increase investor interest by following in the footsteps of Bitcoin and Ethereum ETFs, and that the $SOL ratio in Grayscale’s current ETP portfolio could reach 5%.
American Bitcoin to Release Q3 Financial Report on November 14
American Bitcoin Corp. (NASDAQ: ABTC), a crypto mining firm linked to the Trump family, announced it will release its third-quarter 2025 financial results before the US market opens on November 14. The company had highlighted strong production growth and operational expansion plans.
Aave Earned $4 Million in Revenue from GHO Loans
DeFi giant Aave broke records by earning $4 million in interest revenue from GHO stablecoin lending transactions in the third quarter. This revenue is recorded directly as protocol revenue. As GHO volume grows, Aave’s revenue growth is expected to become a significant driving force.
Dare Market from the Solana Ecosystem Raises $2 Million
Solana-based challenge platform Dare Market completed a $2 million investment round led by Karatage and Paper Ventures. The platform aims to expand its Web3-based gaming and competition infrastructure.
JPMorgan Launches First Fund Service on Kinexys Blockchain
JPMorgan Chase has completed its first blockchain-based fund service transaction using the Kinexys Fund Flow system. This system transfers fund flows from payments and redemptions to private market operations. The transaction was carried out in collaboration with Citco and expanded the bank’s blockchain infrastructure for corporate use.
Ethereum’s “Fusaka” Upgrade to Be Released on December 3
The Ethereum Foundation has announced December 3, 2025, as the official date for the next mainnet hard fork, “Fusaka.” According to developers, the upgrade will increase efficiency, reduce transaction costs, and strengthen Layer-2 compatibility. Fusaka is considered a critical step in Ethereum’s scalability roadmap.
