By Francisco Rodrigues (All Times et unless indicated otherwise)
Bitcoin It moved higher amid the closure of the United States government and increased approximately 3% in the last 24 hours to $ 116,400. The largest cryptographic market, measured by the COENDESK 20 (CD20) index increased 3.5%.
Variable rental markets, excluding the US, also moved higher, even when merchants remain cautious by closing. Stoxx 50 of Europe increased 0.3% in today’s session, while FTSE 100 increased 0.7%. However, futures in the S&P 500 have dropped 0.55%, while in Nasdaq they have dropped 0.64%.
The closure of the United States government could lead to delays in economic data, which are aggravated by imminent tariffs in several elements. Apparently, this has seen investors move away from the country and in alternative value stores.
This uncertainty has seen the price of gold of 3.75% increase in the last week to pass the rhythm of $ 3,890 per ounce. Spot Crypto ETFS obtained more than $ 550 million in net tickets on September 30, with ETF Spot Bitcoin that represent the participation of the lion in that figure.
The flight to alternative assets is happening against a favorable macroeconomic backdrop.
It is widely expected that the Federal Reserve continues to reduce interest rates this month, and polymercad merchants weigh 85% possibilities of a 25 bps cut. That figure is about 95% in the Fedwatch tool of the CME. The lowest interest rates could make risk assets, include cryptocurrencies, more appetizing for investors.
Institutional participation has also deepened in the midst of changing monetary policy. Blackrock’s Ishares Bitcoin Trust (Ibit) beat Deribit to become the main place for Bitcoin options for open interest, now about $ 38 billion.
“We have seen the convergence of both institutional support and maturation throughout the Bitcoin ecosystem. Bitcoin is more integrated in the foundations of global finances, and the institutional interest is at its maximum all time,” said Dom Harz, co-foudner of Bitcoin Defi Gateway Bob, to Coindesk.
“Unlike previous years, this UPTOBer will see more specific tickets, which could be a moment of breakup to accelerate Bitcoin Defi, since investors will want to do more with their Bitcoin holdings; transforming it from a static store into an asset class that carries the performance,” he added.
In fact, exposure to Bitcoin, along with performance, seems to become a new trend. Just this morning, Swiss Digital Bank Sygnym launched a new BTC Alpha fund, with the aim of generating a Bitcoin performance without reducing exposure to cryptocurrency price movements.
While traditional markets are likely to see less volatility due to the next government closure data, Crypto Market sees a wave of ETF Spot decisions in the near future to wait.
The SEC is scheduled to make decisions about a total of 16 Spot Crypto ETF applications this month. Stay alert!
What to see
For a more complete list of events this week, see the note of the Coindesk week.
- Crypto
- Macro
- October 1, 8:15 am: USA. Employment change ADP est. 50k.
- October 1, 9 am: S&P Global Brazil Sept. PMI manufacturing (Prev. 47.7).
- October 1, 9:30 am: S&P Global Canada from Sept. PMI manufacturing (Prev. 48.3).
- October 1, 9:45 am: S&P Global US September Manufacture PMI (Final). Est. 52.
- October 1, 10 am: US ISM Sept. MANUFACTURING PMI EST. 49.
- October 1, 10 am: Hearing of the United States Finance Committee entitled “Examining the Digital Assets Tax”
- October 1, 11 am: S&P Global Mexico Sept. PMI manufacturing (Prev. 50.2).
- Earnings (Estimates based on data data)
Token events
For a more complete list of events this week, see the note of the Coindesk week.
- Government votes and calls
- Gnosisdao is voting in a proposal forwarded to create a $ 40,000 pilot fund. This would allow the community to directly finance the projects of small ecosystems using a conviction vote group. The vote ends on October 1.
- You unlock
- October 1: Unlock 1.23% of its circulating supply for a value of $ 137.27 million.
- October 1: Eigenlayer (eigen) unlocks 13.77% of its circulating supply worth $ 64.07 million.
- Lanza Token
- October 1: Swam Network (SWM) that will be listed in Binance Alpha, Kucoin, Bitmart and others.
Conferences
For a more complete list of events this week, see the note of the Coindesk week.
Token talk
By Oliver Knight
- Privacy token The pack will lead on Wednesday, rising to its highest point since May 2022 after a break against its Bitcoin and dollar trade peers.
- ZEC touched $ 97.25 before withdrawing around $ 92.00, an increase of 41% for the daylist of a 36% increase in the daily negotiation volume to $ 300 million.
- The increase comes next to an impulse in the broader market of Altcoin, with tokens defi curve (CRV) and All increasing by more than 8%.
- Several catalysts triggered the recovery of cryptography; In particular, the closure of the United States government that brought the lowest dollar and gold to new records at $ 3,887.
- Altcoins has surpassed Bitcoin so far on Wednesday, although it is worth noting that the average cryptographic relative force index (RSI) approaches the overcompra territory, suggesting that a period of consolidation is on cards as the market begins to cool.
- An atypical market was Aster, the native token of the perpetual exchange based on the BNB chain of his homonym. Aster collapsed 6.8% on Wednesday to aggravate a 25% decrease during the past week as the hype in the hyperlichid rival begins to fade.
Derivative positioning
- The BTC futures market continues to show a strength bias. The general open interest of futures remains high in around $ 31.69 billion, reflecting the sustained participation of the merchant, and Binance still leads the package at $ 13.19 billion. At the same time, the annualized base of 3 months remains firm between 6% and 7%, indicating that base trade is still solid. This metric consisting of open interest and the base suggests that merchants not only increase their exhibition, but are doing it with conviction, reinforcing the positive feeling observed in the market.
- The BTC options market continues to show a divergence among its key metrics, presenting a complex image of the market feeling. While the 25 SIDE Delta for short -term options remain low, which suggests that merchants are still willing to pay a Put premium to protect against the downward risk, 24 -hour Put/Call volume points to an increase in bullish speculation. The latest data show that the calls now represent 63.54% of the total volume, a strong investment of a market dominated by Put. These conflicting data indicate a highly polarized environment in which some merchants are covering the possible price drops, while a larger number is actively betting on a short -term rally.
- Financing rates have not only remained positive in the main exchanges such as Binance and OKX, but have retired in all areas, even in historically volatile hyperlychid. Delibit, in particular, is seeing a significant premium, with its annualized financing rate that jumps to 17%. This indicates a strong and sustained demand for leverage long positions, since merchants are constantly willing to pay a high premium to celebrate their upward bets. The general positive financing on all the main platforms indicates a conviction of the collective market in a continuous upward trend for BTC.
- Caramel data show $ 644 million in 24-hour settlements, with a 38-62 division between lengths and shorts. BTC ($ 166 million), ETH ($ 164 million) and others ($ 69 million) were leaders in terms of notional liquidations. BINANCE LIQUIDATION HEATMAP indicates $ 116,650 as a central liquidation level to monitor, in case of a price increase.
Market movements
- BTC increases 1.54% of 4 PM ET on Tuesday to $ 116,430.81 (24 hours: +3.02%)
- ETH increases 2.8% to $ 4,313,90 (24 hours: +3.25%)
- COINDESK 20 has increased 2.61% to 4,140.33 (24 hours: +4%)
- The reference rate composed of CESR Ether CESR has dropped 6 bp to 2.87%
- The BTC financing rate is at 0.0066% (7,1974% annualized) in Binance
- DXY has not changed to 97.74
- Gold futures have risen 1.18% to $ 3,919.00
- Silver futures rose 1.73% to $ 47.44
- Nikkei 225 closed 0.85% to 44,550.85
- Hang Seng closed 0.87% to 26,855.56
- Ftse rose 0.66% to 9,412.09
- Euro Stoxx 50 increased 0.31% to 5,546.86
- Djia closed Tuesday with 0.18% to 46,397.89
- S&P 500 closed 0.41% to 6,688.46
- The Nasdaq compound closed 0.30% to 22,660.01
- The S&P/TSX compound closed 0.17% at 30,022.81
- S&P 40 Latin America closed 0.21% to 2.951.50
- The 10 -year Treasury rate of US increases 0.2 PB to 4,152%
- E-mini s & p 500 futures have dropped 0.54% to 6,702.50
- E-mini nasdaq-100 futures have dropped 0.62% to 24,748.00
- The average industrial e-mini jones index has dropped 0.47% to 46,471.00
Bitcoin statistics
- BTC domain: 58.88% (-0.28%)
- Bitcoin ether ratio: 0.03690 (1.51%)
- Hashrat (seven -day mobile): 1,058 eh/s
- Hashprice (spot): $ 51.68
- Total rates: 3.15 BTC / $ 359,057
- CME Futures Open Interest: 134,400 BTC
- BTC with a gold price: 30.1 oz
- BTC vs Gold Market Cap: 8.49%
Technical analysis
- Pump has been one of the strongest assets of the minimums earlier this week, bouncing from the gold pocket to $ 0.0048 after the reduction of the maximum of all time. After finding acceptance above the annual open, which coincides with EMA 20D, the pump has now changed to the first maximums to $ 0.0069.
- If the impulse continues, the pump can point to the daily orders block around $ 0.0074, which, if cleaned, could lead to new historical maximums. Bulls will want to see that the pump continues to operate above the annual open in case of reduction.
Cryptographic equities
- Global Coinbase (COIN): closed on Tuesday at $ 337.49 ( +1.05%), +1.83% at $ 343.68 in the previous market
- Circle Internet (CRCL): closed at $ 132.58 (-0.81%), +1.54% at $ 134.62
- Galaxy Digital (GLXY): Closed at $ 33.81 (-1.4%), +2.37% at $ 34.61
- Bullish (BLSH): closed at $ 63.61 ( +2.1%), +0.46% at $ 63.90
- Mara Holdings (Mara): closed at $ 18.26 (-2.14%), +2.14% at $ 18.65
- Riot Platforms (Riot): Closed at $ 19.03 (-3.79%), +1.37% at $ 19.29
- Core Scientific (Corz): closed at $ 17.94 ( +3.52%), +0.33% at $ 18
- CleanSTark (CLSK): closed at $ 14.5 (-2.49%), +2.41% at $ 14.85
- COINSHARES VALKYRIE BITCOIN MINERS ETF (WGMI): closed at $ 44.24 ( +0.07%), +1.6% at $ 44.95
- Exodus movement (exod): closed at $ 27.78 (-4.04%)
Crypto Treasury Companies
- Strategy (Mstr): closed at $ 322.21 (-1.29%), +2.66% at $ 330.78
- Semler Scientific (SMLR): closed at $ 30 ( +2.6%), +2.03% at $ 30.61
- Sharplink Gaming (Sbet): closed at $ 17.01 (-1.45%), +2.59% at $ 17.45
- UPEXI (UPXI): closed to $ 5.77 ( +2.67%), +6.93% at $ 6.17
- LITE STRATEGY (LIT): Closed at $ 2.42 (-4.72%), +6.61% at $ 2.58
ETF flows
Spot BTC ETFS
- Daily net flow: $ 429.9 million
- Cumulative net flows: $ 57.72 billion
- Total BTC holdings ~ 1.32 million
Spot Eth Ethfs
- Daily net flow: $ 127.5 million
- Cumulative net flows: $ 13.81 billion
- Total eth holdings ~ 6.58 million
Source: Farside Investors
While you sleep
