Vertex

@bankbank55

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CZ has stated (source) that while he isn’t against meme coins, these tokens are becoming "a bit" strange lately. Additionally, the former Binance CEO encouraged the development of real blockchain-based products, emphasizing the importance of practical applications over speculative assets.

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Good Morning! Here’s the key crypto news for this morning: 💸 BTC Spot ETFs: Net inflow over the past 7 days was +$1.801B, up from +$1.631B the previous week. 💸 ETH Spot ETFs: Record-breaking net inflow of +$533.9M, significantly higher than the previous week's +$143.8M. 🇺🇸 Senator Lummis: Suggests the Treasury should convert gold reserves into BTC reserves. 🇵🇱 Polish Presidential Candidate Sławomir Mentzen has pledged to establish a strategic BTC reserve if elected. 👨‍💻 Google Trends: Searches for "meme coins" are hitting all-time highs. 💰 Japan’s Metaplanet: Issuing bonds worth $11.3M again, with plans to use the proceeds for BTC purchases. 🤩 NFT Market: Weekly NFT sales jumped 94% to $181M, reflecting continued growth in the crypto market. 🪙 BTC 4H Analysis: Chart Last week, BTC traded within a narrow range of 87.5K–92.5K, with a net outflow of -$370M from ETFs, primarily Grayscale.

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Market Overview After Bitcoin Surpasses $90,000 - CryptoQuant Bitcoin’s new all-time high has attracted new participants to the market, evident from the sharp rise in UTXO age bands. Most market participants are in profit, as confirmed by the percentage of profitable UTXOs. However, long-term holders continue to maintain their positions despite the increasingly saturated derivatives market. The Spent Output Profit Ratio (SOPR) is positive, indicating that many transferred tokens are in profit. It appears the market is entering a mania phase, as call option contracts for a two-month horizon have surged. Current probability models with a 500-day lag show that Bitcoin has crossed two standard deviations at the $90,000 level, while a third standard deviation in price movement is currently around $101,000.

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The most important updates this morning: 💪 BTC has surpassed $79,000, setting a new all-time high. 📚 Robert Kiyosaki, author of Rich Dad Poor Dad, announced he plans to buy an additional 27 BTC regardless of the price, by November 2025. 👊 FTX is suing Anthony Scaramucci and SkyBridge Capital, seeking to recover over $100 million spent on sponsorships and investment deals. 💸 Tether has minted 1 billion USDT on the Ethereum blockchain. 🇳🇴 Norges Bank, the Central Bank of Norway, has approved the EU's Markets in Crypto-Assets Regulation (MiCA) as the country considers the potential adoption of a CBDC.

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🇺🇸 FOMC - FED RATE = 4.75% (expected 4.75% / previous 5%) The rate has been lowered by 25 basis points, which is very positive news for crypto and the markets as a whole—good conditions for Bitcoin at $82K and even the beginning of altseason. TOTAL3 (https://www.tradingview.com/x/qmCy19bC/) 1D We are at resistance; if we break through today or tomorrow, then we’ll see a local altseason over the weekend with many altcoin breakouts. Most altcoins are currently in an accumulation phase or a broad sideways range, but when the pumps begin, the moves will be very rapid.

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🇺🇸 BTC Price Dynamics During U.S. Elections Historical data shows that BTC tends to rise and experience significant volatility during U.S. election years, regardless of who wins the White House. 2016 (September - January): +60% 2020 (September - January): +183% 2024 (September - January): +25% (still ongoing...) This trend highlights BTC’s potential for growth and volatility surrounding the election period.

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⬇️ BTC < $70,000 The price decline coincided with a significant drop in U.S. stocks. Meta and Microsoft pulled the indices down after disappointing earnings reports. 😡 The U.S. Department of Justice has charged Alexey Andryunin, head of Gotbit, with fraud and conspiracy to manipulate the market. 🟠 Immutable received a notice from the U.S. SEC regarding securities law violations, potentially related to IMX. 👑 There has been movement in Mt Gox wallets. (https://x.com/wublockchain/status/1852164294588403921?s=46&t=50LABvK8J9OiMU7OvbsBDA) Today, Mt Gox transferred 500 BTC to various addresses. 💰 Tether’s profit for Q3 was $2.5 billion, with projected revenues for 2024 reaching $7.7 billion. 🚀 Franklin Templeton is launching a tokenized money market fund on Base.

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📆 This week, the U.S. will release preliminary data on real GDP for Q3 in annual terms, the preliminary core PCE price index for Q3 in annual terms, the annual PCE price index for September, as well as the most important data on the unemployment rate for October and non-farm employment adjusted for seasonal variations. Wednesday, October 30: 🇺🇸 U.S. - Q3 2024 GDP (prelim) - 3:30 PM Moscow time Thursday, October 31: 🇺🇸 U.S. - Initial Jobless Claims - 3:30 PM Moscow time 🇺🇸 U.S. - Inflation - PCE Price Index (September) - 3:30 PM Moscow time

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💸 $BCH 4H Chart (TradingView link) Entry from support level. This setup is fairly simple: set an alert and wait for a reversal pattern. However, that’s not the main point I wanted to discuss. Bitcoin dominance has surged parabolically to levels last seen in 2021, while Ethereum is facing persistent selling pressure. This not only hinders the L2 sector but also keeps the entire altcoin market from reaching even a modest recovery to the 0.618 Fibonacci level from the all-time high correction. The hype might begin only after the elections, when we could see new inflows into ETH ETFs and potentially a bullish altcoin season. But for now, it’s too early to expect this. In the medium term, some coins can be worth watching, but I’d wait until Monday—currently, trading should be limited to intraday moves.

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🪙 $BTC 1D (https://www.tradingview.com/x/L8vdsANr/) Right now, there’s a lot of buzz about a chart showing Bitcoin breaking through the upper level of its channel, with hints of a possible breakout to $80k and beyond. From my perspective, this scenario is quite possible due to the massive inflows into BlackRock ETFs. Essentially, any inflow is fuel for growth when it comes to Bitcoin. Previously, we saw Grayscale selling and BlackRock buying, but now Grayscale is no longer selling, and BlackRock continues to buy. Most likely, in the future, we will see Bitcoin’s volatility align more closely with the S&P 500 index, while altcoins will have a life of their own and will regularly face pressure from the SEC.

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🔷 $ETH 1H (https://www.tradingview.com/x/kn3E5NR9/) Ethereum has shown prolonged weakness against Bitcoin, and previous setups for ETH (https://t.me/elonmoneytrading/2997) were closed at breakeven, so now it’s time for new ones. Currently, it’s the weekend, and dominance might noticeably decrease. If Monday opens well, there’s a chance that ETH will start moving, potentially signaling the beginning of a local altseason. ETH/BTC (second screenshot) is at critically oversold levels, and from this zone, we might see a reaction and a rebound. For ETH, we are waiting for a breakout of $2500. If we break through with volume, some magic might happen, taking ETH to $2700-2800. But that’s if it breaks. The U.S. elections are less than a month away, so we might see a lot of positive movements in crypto.

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🇺🇸USA - Consumer Inflation CPI (September) - 15:30 GMT+3 U.S. consumer inflation data will likely show further disinflation in September — BBG. Ahead of the CPI release, there is a predominance of call option selling: up to 44.18% among whales and 51.19% among retail investors, which may indicate a continuation of the local correction.

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Memecoins on Solana are still hyped, and the degens are loving it. The coin will undoubtedly move up, and if we don't break the local low, we could see $160 in the coming weeks. It's definitely hard for altcoins to move with such dominance, but Solana has already become an entire industry.

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Good day: 🤩 According to analysts, the recent BTC surge is driven by positive U.S. labor market data and expectations of another interest rate cut in November. However, analysts still see geopolitical tensions in the Middle East as a persistent risk to the rally. 💸 Over the past 7 days, the net outflow from spot BTC ETFs amounted to -$274.3 million, compared to the previous week's inflow of +$1.106 billion. 💸 The net outflow from spot ETH ETFs reached -$25.4 million, compared to an inflow of +$85 million the previous week. 📆 Story Protocol is set to make an announcement on October 10th. ⚙️ Amidst news of a possible USDT delisting from Coinbase in Europe, Tether announced the development of a tech solution specifically tailored for the EU market. 🇯🇵 Japanese public company Metaplanet bought another 1 billion yen worth of Bitcoin. Their total holdings now amount to 639.5 BTC.

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🇺🇸 U.S. Federal Reserve Chairman Powell stated that: 🔸 The Fed will continue to lower interest rates to support economic growth and employment, but there is no need to reduce rates as sharply as in the last meeting. 🔸 The overall economic situation remains stable, and the Fed plans to use its tools to maintain this momentum, expressing relative optimism about the economic outlook.

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🇺🇸 This week, several key employment data points will be released in the U.S.: 🔸 September 30, 8:55 PM MSK: Federal Reserve Chair Powell will speak at the National Association for Business Economics. 🔸 October 2, 3:15 PM MSK: ADP employment data for September will be released. 🔸 October 4, 3:30 PM MSK: U.S. unemployment rate and seasonally adjusted non-farm payroll data for September will be released.

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BingX has launched a promotion for new users! Conditions: • First net deposit of $50 = $2 (in USDT) • Futures trading volume of $6,000 = $4 (in USDT) • Futures trading volume of $60,000 or more = $20 (in USDT) • Spot trading volume of $300 = $2 (in USDT) • Spot trading volume of $3,000 or more = $4 (in USDT) Rewards are available only for the first 8,000 users. Rewards will be credited within 10 business days after the promotion ends. Only trades with standard and perpetual futures are counted toward the trading volume. Trades must be held for >1 minute. ✅ To participate, register on the exchange - https://bingx.com/partner/8 and join the promotion via this link (https://bingx.com/ru-ru/act/general/4152933507/?ref=8) The promotion will last until 09/30.

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Impact of Rate Cuts on Cryptocurrencies: What to Expect in the Future? 🤔 The historical data from 2020 and 2022 shows that a Fed rate cut can serve as a strong catalyst for growth in the cryptocurrency market. When rates are low, cryptocurrencies become more attractive to investors looking for alternative ways to preserve and grow capital amid economic uncertainty and inflation. Crypto investors should pay close attention to the Fed’s monetary policy when making decisions. If the Fed lowers rates again in response to an economic slowdown or recession, it could lead to renewed growth in cryptocurrencies. Conversely, further tightening of monetary policy and rate hikes could result in a crypto market downturn.

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2022: Sharp Reversal and Crypto Market Reaction 📉 In 2022, the Fed shifted its monetary policy, aggressively raising interest rates to combat rising inflation. After a period of low rates, inflation began to surge, and central banks, including the Fed, started increasing rates to curb price growth. This sharp reversal had significant consequences for the cryptocurrency market. The rapid rate hikes in 2022 led to a "bear market" for cryptocurrencies. Bitcoin and other cryptocurrencies saw substantial declines as investors pulled funds from risky assets like crypto and returned to safer investments. Higher interest rates made borrowing more expensive, negatively affecting market liquidity. Moreover, with rising yields on traditional financial assets, such as bonds, cryptocurrencies lost some of their appeal.

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The key factor behind the crypto market’s growth in 2020 was low interest rates, which drove capital into riskier assets like cryptocurrencies. Additionally, large amounts of stimulus and money printing raised inflation concerns, pushing investors toward Bitcoin and other digital assets as a potential safeguard against fiat currency devaluation.

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