Market Performance
| Asset / Index | Value ($) | Daily Change (%) |
|---|---|---|
| Bitcoin (BTC) | 111,460.0 | +2.41% |
| Ethereum (ETH) | 4,080.79 | +2.43% |
| Bitcoin Spot ETF | −366.6M | Net Outflow |
| Ethereum Spot ETF | −232.3M | Net Outflow |
| Nasdaq (NAS100) | 24,957.2 | +0.36% |
| S&P 500 (SPX) | 6,664.00 | +0.53% |
| Russell 2000 (RUT) | 2,472.0 | +0.42% |
| U.S. Dollar Index (DXY) | 98.502 | −0.04% |
| VIX Volatility Index (VIX) | 20.77 | −17.91% |
| U.S. 10-Year Treasury Yield (US10Y) | 4.024 | +0.32% |
| Brent Crude Oil (BRENT) | 60.615 | −0.80% |
| LBMA Gold (XAU) | 4,234.635 | −0.45% |
| LBMA Silver (XAG) | 51.6029 | −0.60% |
Today’s Key Events
- MT.Gox’s three-phase payment process is being completed; payments will be made by October 31.
- Details of the BTC purchase strategy are being announced.
- China’s third-quarter GDP data is being released.
- CATL financial results announcement.
Critical Messages from Trump Regarding China, Ukraine, and India: “Search for a New Balance”
Trump signaled a softening in relations with Beijing, stating that the 100% additional tariffs imposed on China are “unsustainable.” During his meeting with Ukrainian leader Zelensky, Trump was cautious about Tomahawk missiles, saying, “We want to end the conflict without using missiles.”
He indicated that bilateral US-Russia talks would be preferred over a trilateral format. He also announced that high tariffs would continue unless India reduced its purchases of Russian oil.
US and China Launch New Round of Talks; Focus on US CPI Data
China and the US have initiated a new diplomatic contact in their trade relations. The talks focused on reducing economic tensions and balancing mutual trade interests, particularly under the heading of “Taco trade.” Deputy Prime Minister He Lifeng held an online meeting with US Treasury Secretary Bessent and Trade Representative Greer. The parties held “candid and in-depth” discussions on implementing agreements reached at the leadership level and strengthening economic dialogue. Bessent described the talks as “open and detailed,” highlighting the constructive approach of the Chinese side to the relationship. The parties agreed to hold a new round of negotiations next week.
China Financial Data: Public Revenues Rise, Expenditures Expand
According to data from the Chinese Ministry of Finance, general public revenues reached RMB 16.39 trillion in the January-September period, an increase of 0.5%. Tax revenues rose 8.66% year-on-year in September, while non-tax revenues fell 11.41%. During the same period, overall public expenditures rose by 3.1% to 20.81 trillion RMB. Land transfer revenues declined by 0.98% year-on-year, while government fund budget expenditures increased by 23.9% to 7.49 trillion RMB. These indicators point to China continuing its local financial expansion.
New Coalition Era in Japan
Japan’s Liberal Democratic Party (LDP) and the Innovation Party (Ishin) have reached a basic agreement to form a coalition government. The two parties are expected to sign the agreement on October 20. Ishin will support the government as an “external partner” without joining the cabinet. This agreement virtually guarantees Sanae Takaichi’s victory in the prime ministerial election on October 21.
Mt. Gox repayments will be made by October 31, and the remaining 34,689 BTC could be released to the market.
According to CryptoSlate, on October 20, the Mt. Gox trustee must complete a three-stage process to repay Bitcoin creditors: base repayment, early bulk repayment, and interim payments by October 31. Currently, approximately 34,689 $BTC remain in associated wallets. Bitcoin and Bitcoin Cash were distributed via Bitstamp, Kraken, or in cash, with some held by BitGo. Historical data shows that approximately 64.1% of the funds were deposited into exchanges
Michael Saylor May Reveal Bitcoin Purchase Data Next Week
MicroStrategy founder Michael Saylor hinted that the company may disclose its Bitcoin purchase data next week in a post on his X account, stating, “The most important orange dot is always the next one.” Saylor’s post sparked speculation among investors that a new BTC accumulation round may be about to begin.
El Salvador’s Bitcoin Holdings Reach 6,354 Units
El Salvador purchased an additional 8 BTC over the past seven days, bringing its total holdings to 6,354.18 BTC. The total value of its holdings has reached approximately $678.7 million. This purchase is seen as part of the country’s regular Bitcoin accumulation strategy.
Capital B Increases Bitcoin Portfolio to 2,818 Units
French publicly traded company Capital B purchased 6 more Bitcoin, bringing its total holdings to 2,818 BTC. The company also temporarily suspended its “ATM-style capital increase” plan with TOBAM.
CZ: AI-Based Trading Could Lead to Increased Trading Volume
Binance founder CZ, referring to the recent rise in the “AI + trading” trend, said that such systems could lead to high trading volumes. However, he noted that many investors using the same algorithmic signals could reduce market efficiency and cause self-triggered fluctuations.
MetaPlanet CEO: “No Asset Compares to Bitcoin”
MetaPlanet CEO Simon Gerovich stated on his social media account that “no asset compares to Bitcoin.” He emphasized that his company is the largest institutional holder of Bitcoin in Japan.
Interest Rate Hike Signal from the Bank of Japan
BOJ Board Member Hajime Takata stated that “now is the most appropriate time to raise interest rates.” This statement was interpreted as signaling that the Bank of Japan may accelerate its exit from its ultra-loose monetary policy.
Blockchain Move from New York Mayoral Candidate Cuomo
Mayoral candidate Andrew Cuomo announced plans to create a Chief Innovation Officer position to transform New York into a “global crypto hub.” The role will coordinate blockchain and artificial intelligence programs.
Hyperliquid Sees $1.5 Billion Net Fund Outflow; Most Funds Shifted to Arbitrum
According to Artemis data, there was a net outflow of $1.5 billion from the Hyperliquid network over the past seven days. Of this, $1.46 billion was transferred to the Arbitrum network. During the same period, Arbitrum ranked first among all chains with a total net inflow of $1.8 billion.
Japan Considers Allowing Banks to Trade Cryptocurrency
The Japanese Financial Services Agency (FSA) is discussing a new regulation that would allow banks to trade Bitcoin and digital assets. This plan represents a step back from the restrictions introduced in 2020 and aims to make Japan more integrated into the crypto financial system.
ECB Member Cipollone: Europe Should Establish Its Own Digital Asset Market
European Central Bank Governing Council Member Piero Cipollone said Europe should establish its own digital asset market to protect its financial stability. He supported the use of the digital euro for daily payments and warned that stablecoins could weaken the banking system.
Galaxy Digital: Structural Bull Market Continues
Galaxy Digital Research Director Alex Thorn stated that the crypto market is in a structural bull trend. According to Thorn, there are three main factors supporting the rise: AI investments, stablecoin expansion, and asset tokenization. He expressed his continued expectation of an uptrend for BTC, ETH, and SOL in the medium term.
Hyperliquid Founder Comments on ADL Incident
Hyperliquid founder Jeff dismissed rumors surrounding the automatic position closing (ADL) incident on October 10 as “FUD.” He stated that the ADL mechanism has generated hundreds of millions of dollars in net revenue for users, reduced system risk, and created a “win-win” structure. Jeff emphasized that keeping the mechanism simple and transparent is a fundamental principle of the platform.
