Market Performance
- Dow -0.51%,
- Nasdaq -0.28%
- S&P 500 -0.01%
- Russell 2000 -0.72%
- 10-year yield rose +3.46 basis points to 4.1153%
- DXY fell -0.17% to 97.7229
- VIX rose +0.12% to 16.65
- Brent Crude Oil rose +0.39% to 64.36
- LBMA Gold rose +0.78% to 3885.66
U.S. Government Shutdown Continues
The U.S. Senate failed to pass a temporary funding bill on October 3, leading to the continuation of the federal government shutdown. Democrats want to extend health insurance subsidies that are set to expire at the end of this year, while Republicans insist on only a short-term funding bill. Speaker Johnson announced that the House of Representatives would be in recess next week as a means of pressure.
Statements by Fed Members
- Dallas Fed President Lorie Logan (non-voting, hawkish): Stating that inflation problems are more serious than employment, she emphasized the need for caution in interest rate cuts. She said they are still far from the inflation target and that tariffs could push prices up.
- Fed Vice Chair Philip Jefferson (will vote, hawkish): He stated that the US economy still faces challenges in terms of both employment and inflation. He said the current government shutdown will not hinder the Fed’s decision-making process and that it will support policy decisions to the extent that the data allows.
- Fed Chair Milan (voting member, moderate): He said service inflation is closely linked to housing prices and that he would revise the inflation outlook upward if rents increase. He also noted that his 2026 and 2027 dot plot projections do not differ significantly from those of other Fed officials.
Trump’s “Cash Distribution from Tariff Revenues” Plan
President Trump again proposed distributing cash of $1,000 to $2,000 to the public using customs tariff revenues during the shutdown period. He described this step as a “dividend for the American people” and argued that the plan could stimulate economic activity.
China’s Trade Offer to the US
According to Bloomberg, China plans to make major investment commitments in the US and increase imports in exchange for the US easing trade restrictions. Although the scale of the negotiations is unclear, the parties are seeking ground for a partial trade agreement by the end of the year.
Sanae Takaichi to Become Japan’s First Female Prime Minister
Sanae Takaichi, elected president of the Liberal Democratic Party, will become Japan’s first female prime minister after parliamentary approval. Her political agenda is based on expansionary fiscal policies, strategic industrial investments, and a tough stance against China. She plans to strengthen the alliance with the US and support investments in nuclear fusion, quantum computing, and artificial intelligence.
Russia-Ukraine Tensions Escalate
Russia launched a new missile and drone attack on the Lviv region in western Ukraine, killing at least five people. Putin warned that if the US supplies Tomahawk missiles to Ukraine, it would damage relations between the two countries.
Focus on OpenAI Developer Day
OpenAI Developer Day is being held today. The event is expected to showcase new integration features for GPT models and developer tools. Investors are focused on innovations in the artificial intelligence sector, along with the government shutdown and expectations of a Fed interest rate cut.
Bitcoin supply on exchanges falls to six-year low
According to data from October 6, Glassnode reported that the amount of Bitcoin held on exchanges has fallen to its lowest level in six years. This decline indicates that investors continue to move their Bitcoins to long-term storage wallets and that selling pressure has decreased. Analysts note that this trend could increase supply constraints and create upward pressure on prices.
Cango produced 616 Bitcoins in September, bringing its total holdings to 5,810 BTC
According to crypto mining company Cango’s September production report, the company produced 616.6 Bitcoin during this period and increased its total assets to 5,810 BTC. Cango announced that it is accelerating the transition to next-generation mining hardware to increase energy efficiency and reduce operational costs.
US Treasury Department’s Bitcoin purchase could be the peak of the cycle
Crypto analyst Ansem suggested that if the US Treasury Department starts buying Bitcoin with newly printed dollars, this cycle will reach its “explosive peak.” The analyst argues that such a move would create a major jump in the markets, both psychologically and in terms of liquidity.
Whale purchases 1.69 million ASTER tokens
According to data from on-chain analysis expert Onchain Lens, a whale purchased a total of 1.69 million ASTER tokens at an average price of $1.86 within approximately 10 hours. The total value of the transaction was $3.14 million. Following this large purchase, a short-term increase in the price of ASTER was observed.
NFTStrategy ecosystem’s total market cap approaches $340 million
According to official data, the total market cap of the NFTStrategy ecosystem has reached approximately $340 million. A trading volume of $13.06 million was recorded in the last 24 hours. The ecosystem’s leading project, PunkStrategy (PUNKSTR), briefly exceeded a market value of $320 million.
Bitcoin spot ETFs saw $3.24 billion in net inflows last week
According to SoSoValue data, Bitcoin spot ETFs recorded a total of $3.24 billion in net inflows last week. BlackRock’s IBIT ETF had the largest weekly inflow at $1.82 billion, bringing its total net inflow to $62.63 billion. Fidelity’s FBTC ETF ranked second with a weekly inflow of $692 million.
Ethereum spot ETFs saw $1.3 billion in weekly inflows
According to SoSoValue data, Ethereum spot ETFs saw a total net inflow of $1.3 billion last week. All nine ETFs reportedly closed the week in positive territory. BlackRock’s ETHA ETF led with $692 million in inflows, while Fidelity’s FETH ETF came in second with $305 million in inflows.
AI startups attract $192.7 billion in investment by 2025
According to data from The Kobeissi Letter, AI startups will have attracted a total of $192.7 billion in investment by 2025. This marks the first year that more than 50% of venture capital investments have gone to the AI sector. More than 60% of venture capital deals in the US are AI-focused, a threefold increase compared to the post-pandemic period.
CZ sends Lunar New Year wishes to the community
Binance founder CZ sent Lunar New Year wishes to the community via the X platform and called on them to share “the most creative Lunar New Year meme.”
Over $555 Million in Token Unlocks Coming Next Week
During the week of October 6–13, large-scale token unlocks totaling over $555 million will occur in the crypto market. According to Tokenomist data, both cliff and linear unlocks will take place across numerous popular projects.
One-Time Unlocks
In this category, a large amount of tokens is released into the market at once. The week’s featured projects are:
- ATH – 1.26 billion tokens, worth $68.06 million (10.32% supply unlock)
- APT – 11.31 million tokens, $61.53 million (1.61%)
- LINEA – 1.08 billion tokens, $29.12 million (6.98%)
- BABY – 321.6 million tokens, $16.98 million (12.02%)
- Additional unlockings in the range of $5–8 million will also be made in the BB, HOME, IO, and MOVE projects.
Linear Unlocks
Linear unlocks, performed on a daily or weekly basis, have a total value of approximately $490 million. The leading projects in this group are:
- SOL – 499,000 tokens, $115.16 million
- TRUMP – 4.89 million tokens, $38.05 million
- WLD – 37.23 million tokens, $46.90 million
Millions of dollars in unlockings are also expected for other projects such as DOGE, AVAX, SUI, TIA, DOT, ETHFI, and NEAR.
