Crypto Highlights – Bitcoin at a 7-Week High, U.S. Politics and ETF News Move the Markets
Bitcoin plunges under $98,000; >$1B in longs liquidated · CoinDesk
Why Bitcoin, XRP, Solana, and Ether slide as gold and silver soar · CoinDesk
Dollar headed for weekly loss as investors await US data backlog · Reuters
Stocks crumble as hopes fade for imminent Fed rate cut · Reuters
Gold rises, poised for weekly gain on softer dollar · Reuters
Bitcoin ETF Outflows Hit $1.2B Even as Wall Street Deepens Its Crypto Bets · CoinDesk
Asia Morning Briefing: Bitcoin Rebounds as Polymarket Traders Bet U.S. Shutdown Will End Within Days · CoinDesk
Asia refining margins soar as sanctions threaten Russian supplies · Reuters
Investors anticipate new wave of Argentine reforms after Milei's midterm victory · Reuters
End of Fed QT may offer Treasury convenient buffer · Reuters
Stock Market Today: Dow, S&P Live Updates for Oct. 28 · Bloomberg
Ceconomy, takeover target of JD.com, says it will exceed annual profit forecast · Reuters
Bitcoin is approaching a 7-week high, with institutional inflows driving the market. Geopolitical signals, regulatory debates, and ETF updates are also shaping the crypto landscape this week.
Highlights
- 📈 Bitcoin is rising toward $120,000 and once again shows a close correlation with gold.
- 🇺🇸 The US shutdown remains a “non-event” for the markets.
- 🏦 The Coinbase Premium Index signals buying activity from U.S. investors and institutions.
- CME FedWatch: 100% probability of a rate cut on October 29. Economiccalendar
- 💳 Coinbase calls for tax exemption on everyday BTC payments.
- 💼 U.S. Treasury seeks to ease tax plans for unrealized BTC gains under CAMT.
- 🇸🇪 Sweden discusses establishing a national Bitcoin reserve.
- 🏢 Metaplanet becomes the 4th largest publicly traded BTC company after a $600M Bitcoin purchase.
- ⚡ BlackRock Bitcoin ETF allows in-kind redemptions for the first time.
- 💵 Tether (USDT) supply hits a record high of $175 billion..
- 🌍 World Liberty Financial (Trump-affiliated) plans expansion into tokenized commodities & debit cards.
- 🇺🇸 Trump officially nominates FDIC head as chairman. Trump nominiert FDIC-Chef offiziell zum Vorsitz.
- ⚠️ BNB Chain X account hacked – CZ warns of phishing links.
Market Impact
- BTC Sentiment: Institutional demand remains the main driver, supporting bullish momentum.
- Macro: The expected rate cut on October 29 could further push risk assets.
- Altcoins: Benefit only to a limited extent, as capital flows remain clearly BTC-dominant.
- Risks: Hacks and regulatory uncertainty (BNB, taxes) serve as reminders for caution.
“The interplay of institutional capital, monetary policy expectations, and geopolitical factors currently makes Bitcoin one of the most exciting macro assets.”
