Market Performance
| Asset / Index | Value ($) | Daily Change (%) |
|---|---|---|
| Bitcoin (BTC) | 112,650.0 | −0.54% |
| Ethereum (ETH) | 4,116.20 | −0.25% |
| Bitcoin Spot ETF | 102.7M | Net Inflow |
| Ethereum Spot ETF | 236.2M | Net Inflow |
| Nasdaq (NAS100) | 24,721.7 | +0.59% |
| S&P 500 (SPX) | 6,644.30 | −0.16% |
| Russell 2000 (RUT) | 2,513.9 | +0.50% |
| U.S. Dollar Index (DXY) | 98.776 | −0.26% |
| VIX Volatility Index (VIX) | 20.80 | +9.36% |
| U.S. 10-Year Treasury Yield (US10Y) | 4.013 | −0.47% |
| Brent Crude Oil (BRENT) | 62.145 | +0.32% |
| LBMA Gold (XAU) | 4,197.015 | +1.31% |
| LBMA Silver (XAG) | 52.4755 | +1.94% |
Prepared at UTC 06:55 am
“Prepared at UTC 06.55 am”
Today’s Key Events
- China CPI, PPI data to be released
- Fed Beige Book to be published
- Fed Board Member Milan to speak
Trump Threatened China; Powell Spoke in a Dovish Tone
Tensions rose again ahead of US-China trade talks. President Trump threatened to suspend edible oil trade in retaliation for China’s restrictions on soybean imports from the US. Following his statements on Truth Social, US indices fell sharply. Trump emphasized that they would support domestic production, saying, “The US no longer has to rely on China.”
Powell: Labor Market Weakening, Balance Sheet Reduction to End
Fed Chairman Jerome Powell noted in his speech at the NABE Annual Meeting that downside risks in the labor market have increased. Powell signaled that the Fed would cut interest rates again in October and end its balance sheet reduction.
- Employment: Although unemployment remains low, job growth has slowed due to migration and declining labor force participation.
- Inflation: He emphasized that recent price increases were primarily due to tariffs and that inflation expectations were stable at around 2%.
- Balance Sheet: He stated that the balance sheet reduction process, which began in mid-2022, would come to an end. Nick Timiraos of the WSJ interpreted Powell’s comments as “a signal of an interest rate cut and the end of the balance sheet at the Fed’s October meeting.”
Latest Comments from Fed Officials
The Fed enters its pre-meeting “blackout period” as of this Saturday. Officials’ comments are generally in line with market expectations:
- Vice Chair Bowman (voting member, dovish): Said she expects two additional rate cuts before the end of the year, emphasizing that the main risk is on the employment front.
- Boston Fed President Collins (voting member, neutral): Stated that cautious easing is needed in 2025; said that after the impact of tariffs passes, the Fed should continue rate cuts this year to support the labor market.
Ethereum’s Value Fluctuates Compared to Bitcoin Amid US-China Trade Tensions
As economic concerns rise due to US-China trade tensions, Ethereum’s value relative to Bitcoin has fluctuated. Despite Ethereum’s recent underperformance, its structural story remains strong with regulated stablecoins and institutional adoption.
CryptoQuant CEO: Average Order Size of BTC Futures Contracts Has Declined
CryptoQuant CEO Ki Young Ju noted that most $BTC futures investors are currently retail investors and that the average order size has declined from $6,000 at the beginning of the year to $2,000.
Tether Has Issued Over $600 Million in XAUT Since May
Tether has minted over $600 million in gold-backed stablecoin $XAUT since May. Crypto analyst Emmett Gallic said, “people are really interested in digital gold.”
Solv Protocol Deposited 500 BTC Worth $56 Million to Binance
According to Lookonchain data, Solv Protocol deposited 500 $BTC ($56 million) to Binance approximately 30 minutes ago on October 15.
MetaMask to Integrate Prediction Market Polymarket into Wallet
MetaMask has partnered with Polymarket to integrate on-chain prediction market trading directly into its wallet. Users will be able to buy and sell predictions in sports, crypto, and politics categories within MetaMask.
Kinetiq Completes Final kPoints Snapshot
Kinetiq, the liquidity staking protocol in the Hyperliquid ecosystem, has completed its final kPoints snapshot. Point distribution will take place on October 16.
ether.fi’s Buyback Program Reaches $7.5 Million
The ether.fi Foundation announced that it has purchased 236,000 $ETHFI tokens in the last two weeks and has repurchased a total of $7.5 million worth of tokens to date.
FTX/Alameda Withdrew 192,900 SOL from Staking and Transferred it to Exchanges
FTX/Alameda withdrew 192,900 $SOL ($39.41 million) from staking 5 hours ago and transferred most of it to Coinbase and Binance. A total of 9.17 million $SOL has been transferred since November 2023; 4.41 million $SOL remains staked.
MARA Holdings Purchased 400 BTC Worth $45.24 Million from Galaxy Digital
According to Onchain Lens data, a wallet linked to MARA Holdings acquired 400 $BTC (worth $45.24 million) from Galaxy Digital on October 15.
SharpLink’s Ethereum Holdings Reach 840,124 ETH
Ethereum treasury company SharpLink announced that its holdings have reached 840,124 $ETH. The company has earned $5,211 ETH (approximately $20 million) in staking rewards since its launch.
JPMorgan CEO Dimon: Holding Gold in Your Portfolio is Semi-Rational
JPMorgan CEO Jamie Dimon said that holding gold in portfolios is “semi-rational.” Noting that gold prices could rise to $5,000-$10,000, he emphasized that holding gold could be reasonable in the current period.
USDC Treasury Minted 500 Million USDC
According to Whale Alert data, USDC Treasury minted a total of $500 million USDC in two transactions over the past two hours.
