Market Performance
| Asset / Index | Value ($) | Daily Change (%) |
|---|---|---|
| Bitcoin (BTC) | 111,450.0 | +1.08% |
| Ethereum (ETH) | 3,938.65 | +0.88% |
| Bitcoin Spot ETF | −470.7M | Net Outflow |
| Ethereum Spot ETF | −81.4M | Net Outflow |
| Nasdaq (NAS100) | 26,110.7 | +0.12% |
| S&P 500 (SPX) | 6,890.60 | 0.00% |
| Russell 2000 (RUT) | 2,497.5 | +0.12% |
| U.S. Dollar Index (DXY) | 99.097 | −0.04% |
| VIX Volatility Index (VIX) | 16.22 | −4.08% |
| U.S. 10-Year Treasury Yield (US10Y) | 4.081 | +0.07% |
| Brent Crude Oil (BRENT) | 63.805 | −0.42% |
| LBMA Gold (XAU) | 3,964.630 | +0.87% |
| LBMA Silver (XAG) | 47.7495 | +0.39% |
“Prepared at UTC at 07.38”
Today’s Key Events
- European Central Bank interest rate decision and President Lagarde’s remarks
- Earnings Reports: Apple, Amazon, Coinbase, MicroStrategy
- US Bitcoin Futures Expiration
- FOMC Member Logan Speaks
Fed to End Balance Sheet Reduction in December, Powell Delivers Hawkish Message
The US Federal Reserve cut interest rates by 25 basis points to the 3.75–4.00% range, in line with expectations. Milan and Schmidt dissented; Milan wanted a larger cut, while Schmidt opposed the cut. The Fed will end its balance sheet reduction process on December 1, then roll over maturing MBSs into short-term Treasury bills. Powell struck a more hawkish tone than expected, saying economic growth was continuing at a “moderate pace” and indicating that another rate cut in December was not guaranteed. He also emphasized that AI investments were “based on real earnings,” unlike the dot-com bubble of the 1990s.
Xi-Trump Meeting Lasted 1 Hour and 40 Minutes
According to Jinshi Data, the summit between Chinese President Xi Jinping and US President Donald Trump took place in Busan, South Korea, and lasted approximately 1 hour and 40 minutes. The parties exchanged views on economic cooperation, trade, and security issues in a “friendly and constructive” atmosphere.
South Korea-US Trade Agreement Signed
South Korea agreed to invest $350 billion in the US. Under the agreement, the US will continue to apply a 15% tariff on automotive parts, while South Korea will gain priority access to the semiconductor sector. Of this investment, $200 billion will be in cash and $150 billion will be directed to shipbuilding projects.
Positive Tone from China’s Foreign Ministry
Spokesperson Guo Jiakun stated that China is open to cooperation with the US, emphasizing that his country has “one of the world’s strictest anti-drug systems.” He said the US must take concrete steps to create conditions conducive to cooperation.
US-China Suspends Tariffs and Controls for One Year
The U.S. Department of Commerce announced that the two countries would simultaneously suspend tariffs on the maritime, logistics, and shipbuilding sectors for one year. In addition, the export control rules announced by the U.S. on September 29 and China’s countermeasures on October 9 will also be suspended for the same period. This development signals the beginning of a “de-escalation process” between the two economies.
Trump to Visit China in 2026
Trump announced on social media platform X that he will visit China in April 2026. The visit is reportedly planned to “permanently establish” the trade agreement between the two countries and discuss new energy partnerships.
Bank of Japan Keeps Interest Rates Unchanged
The Bank of Japan (BOJ) kept its policy interest rate unchanged at 0.5%, making no changes at its first meeting under Prime Minister Sanae Takaichi. Despite inflation remaining above the 2% target for 41 months, only two members voted in favor of an interest rate hike. The bank decided to continue its expansionary monetary policy to support economic recovery.
US Tech Giants Report Earnings
- Microsoft: Revenue $77.7 billion (+18%), EPS $4.13. Cloud revenue fell short of expectations, and shares fell 4%.
- Google: Revenue $102.3 billion (+16%), EPS $2.87. Advertising and cloud performance was strong; shares rose 6%.
- Meta: Revenue $51.2 billion (+26%), but net income fell 83% due to tax expenses; shares fell 7%.
ECB Plans to Launch Digital Euro in 2029
According to Bloomberg, the European Central Bank (ECB) aims to launch the digital euro in 2029 after completing the preparatory phase of the project. According to the decision taken at the meeting in Florence, the ECB will continue to work on establishing the legal framework and developing the technical infrastructure during this period.
Inflows into HBAR and Litecoin ETFs Increase
According to SoSoValue data, there was a net inflow of $2.2 million into the Canary HBAR spot ETF and $48,600 into the Litecoin ETF. The total asset value of the HBAR ETF reached $3.3 million. This increase indicates that investor interest is shifting towards alternative crypto ETFs.
Bitcoin Strategic Asset Debate in Germany
Germany’s main opposition party, the AfD, has submitted a motion calling on the government to recognize Bitcoin as a strategic reserve asset. The bill, which will be debated in the Bundestag, argues that Bitcoin is “fundamentally different from other crypto assets” and demands that it be excluded from the EU’s MiCA regulation.
$17 Billion in BTC and ETH Options Set to Expire
A total of $17 billion worth of Bitcoin and Ethereum options on Deribit are expected to expire on October 31. There are contracts worth $14.4 billion on the Bitcoin side and $2.6 billion on the Ethereum side. The predominance of call options indicates that investors maintain their expectations for a rise in the short term.
Ondo Moves Its Tokenized Products to the BNB Chain
Tokenization platform Ondo Global Markets announced that it has expanded its products to the BNB Chain network. With this integration, BNB users will be able to access more than 100 Wall Street stocks and ETFs on the chain. This move will accelerate the transition of real-world assets (RWA) to the blockchain environment.
