Market Performance
| Asset / Index | Value ($) | Daily Change (%) |
|---|---|---|
| Bitcoin (BTC) | 111,850.0 | −3.07% |
| Ethereum (ETH) | 3,985.70 | −6.10% |
| Bitcoin Spot ETF | −326.4M | Net Outflow |
| Ethereum Spot ETF | −428.5M | Net Outflow |
| Nasdaq (NAS100) | 24,514.7 | −0.86% |
| S&P 500 (SPX) | 6,654.71 | +1.56% |
| Dow Jones Industrial Average (DJI) | 46,067.59 | +1.29% |
| Russell 2000 (RUT) | 2,441.5 | −0.86% |
| U.S. Dollar Index (DXY) | 99.292 | +0.04% |
| VIX Volatility Index (VIX) | 19.02 | −12.15% |
| U.S. 10-Year Treasury Yield (US10Y) | 4.021 | −0.94% |
| Brent Crude Oil (BRENT) | 62.665 | −0.60% |
| LBMA Gold (XAU) | 4,097.10 | −0.32% |
| LBMA Silver (XAG) | 51.052 | −2.42% |
Today’s Key Events
- Fed Chair Powell will deliver a speech titled “Economic Outlook and Monetary Policy” at the NABE Conference.
- Earnings season officially begins: Major US banks — Goldman Sachs, JPMorgan, Citigroup, and Wells Fargo — will release their pre-market reports.
Bessent Awaits Trump and Xi Meeting;
U.S. Treasury Secretary Bessent said they are awaiting the meeting between Trump and Xi and that “all options are on the table” against China’s export restrictions. He said the U.S. has strong leverage in software, minerals, and financial services and expects “significant support” from its allies this week. He also confirmed that US and Chinese officials will meet during the IMF and World Bank meetings.
US Treasury Department to Prioritize Military Pay
Bessent announced that the order of priority for payments will be changed due to the government shutdown. The Treasury will delay some payments to ensure military pay is paid on time. This statement contradicts former Treasury Secretary Yellen’s remarks that “it is technically impossible to determine the order of priority.”
Philadelphia Fed President Paulson: Two Additional Interest Rate Cuts Necessary
New Fed official Paulson said he supports two additional 25 basis point interest rate cuts in 2025. Paulson emphasized that price pressures stemming from tariffs should not turn into persistent inflation. This statement was his first public assessment since taking office in July.
CME FedWatch Data: Probability of Interest Rate Cut at 98.3%
According to CME data, the probability of a 25 basis point interest rate cut in October stands at 98.3%. The probability of a total 50 basis point cut in December is measured at 95.5%.
US-India Trade Talks Begin
India has promised to increase energy and natural gas imports from the US to address US concerns over its purchases of Russian oil. The parties aim to sign their first trade agreements next month.
China September Trade Data
- Exports (USD) annual: 8.3% increase (previous: 4.4%)
- Imports (USD) annual: 7.4% increase (previous: 1.3%)
- Trade surplus: $90.45 billion (previous: $102.33 billion)
China’s Ministry of Commerce: “If we fight, we will fight to the end”
China’s Ministry of Commerce reacted strongly to the US’s new tariffs and restrictions. The spokesperson said, “If we fight, we will fight to the end; if we negotiate, the door is open.” The ministry called on the US to correct its misguided policies and engage in sincere dialogue.
Santiment: FUD Continues to Be a Contrarian Buy Signal for Bitcoin
According to Cointelegraph, Santiment data shows that FUD (fear, uncertainty, and doubt) sentiment in the markets is still a reliable contrarian buy signal for Bitcoin. Over the past seven months, Bitcoin prices have rebounded after each of the four trading days when market sentiment was most pessimistic.
Metaplanet’s Market Value Falls Below Bitcoin Reserves
According to Bloomberg data, the market value of Japan-listed Metaplanet Inc. has fallen below the value of its Bitcoin reserves. The share price has fallen 70% since June, and the company’s mNAV ratio has dropped to 0.99. Analyst Mark Chadwick noted that the decline signifies that the Bitcoin-focused “reserve stock bubble has burst.” It was revealed that Metaplanet currently holds over 30,000 BTC, valued at approximately $3.4 billion.
Solana Leads with $223 Million in Real Economic Value in Q3
According to Cointelegraph, the Solana chain ranked first in terms of on-chain “real economic value” in the third quarter with $223 million. Tron followed with $160 million.
JPMorgan Allows Crypto Trading; Custody Services Not Yet Launched
JPMorgan announced that it will begin offering its clients cryptocurrency trading services, but noted that custody services will not be launched in the short term.
Citigroup to Launch Crypto Custody Service in 2026
Citigroup plans to launch its digital asset custody service in 2026. The bank is developing its own technology while also evaluating third-party partnerships. Global Head Biswarup Chatterjee stated that stablecoins could become attractive in developing regions and that Citigroup’s work in this area is still in its early stages.
Tether Minted 1 Billion USDT on Ethereum
According to Whale Alert, Tether Treasury minted 1 billion new $USDT on the Ethereum network this morning.
Hyperliquid Now Available on the Morpho App
Morpho announced that the Hyperliquid protocol is now available on its app.
Aave DAO Repurchased 100,000 AAVE
Aave DAO repurchased 100,000 $AAVE tokens at an average price of $239.35. The DAO plans to use these tokens as collateral to open a $GHO credit line. The proposal has not yet entered the voting stage.
Dogecoin Foundation Company to be Listed on Nasdaq
House of Doge, an affiliate of the Dogecoin Foundation, will merge with Brag House Holdings and trade on Nasdaq. After the merger, the new company will operate Dogecoin-based payment infrastructure, data services, and licensing activities.
CME Group Launches Solana and XRP Option Products
CME Group announced that it has launched $SOL and $XRP option contracts. The products will work in conjunction with physically settled futures and enable trading of both large and micro contracts.
