Macro Overview
- US JOLTS Job Openings: Came in slightly above expectations, implying a neutral impact on the crypto market.
- US Non-Farm Employment Change: Came in lower than expected, which is bullish for the market.
- US ISM Manufacturing and Services PMI: Manufacturing PMI came in neutral, while Services PMI was below expectations, which is bullish for the market.
Crypto Markets Overview
- Market Movement: This week, the crypto market experienced a 8.93% rise, bringing the total market capitalization to $4.2 trillion. Notably, BTC saw a rise of 9.70% and ETH saw a rise of 10.34%. Bitcoin’s dominance stands at 55.81%, while Ethereum’s holds at 13.45%
- US Federal Shutdown Stalls Crypto Progress: The ongoing US government shutdown has paused crypto-related policy work at key agencies like the SEC, according to TD Cowen. With federal employees furloughed, progress on exemptive relief and tokenization initiatives is on hold until Congress reaches a funding deal, delaying key regulatory developments for the crypto sector.
- Bitcoin Hits New All-Time High Above $125K: Bitcoin surged past $125,000 for the first time, fueled by “Uptober” momentum and renewed interest in decentralized assets amid the U.S. government shutdown. The milestone reinforces BTC’s strong historical October performance, with the asset up over 11% in the first week of the month as investors view it increasingly as a store-of-value hedge.
- Samsung Expands Coinbase Partnership in the U.S.: Samsung is enhancing its Coinbase integration, allowing U.S. Galaxy smartphone users to fund Coinbase accounts via Samsung Pay and access Coinbase One promotions through Samsung Wallet. The move could reach over 75 million Galaxy users, with an international rollout planned in the future.
- CME to Offer 24/7 Crypto Futures in 2026: CME Group announced it will move its cryptocurrency futures and options to continuous, around-the-clock trading in early 2026. The change responds to growing client demand for 24/7 risk management in digital asset derivatives. CME executives highlighted that constant trading reflects the evolving needs of modern markets.
- Perpetual DEXs Hit $1 Trillion Monthly Volume: September marked the first time perpetual protocol trading surpassed $1 trillion, driven by fierce competition between Hyperliquid, Aster, and Lighter. Aster led the pack with $420 billion in volume, while Hyperliquid fell to $282.5 billion. The surge highlights rapid growth and innovation in the perpetual DEX space, with Aster planning a future ZK-based Layer 1 chain to support its platform.
- Ondo Acquires US-Regulated Broker Oasis Pro: Ondo Finance completed its acquisition of SEC-licensed broker-dealer Oasis Pro to expand its tokenized securities business. The move gives Ondo broad licensing and infrastructure to develop compliant tokenized securities markets in the U.S. Last month, the firm also launched 24/7 on-chain access to over 100 U.S. stocks and ETFs for international users.
- PancakeSwap Launches CakePad for Early Token Access: PancakeSwap has introduced CakePad, replacing its previous IFO system, to give users early access to new tokens without staking or lock-ups. Wallet holders can simply commit CAKE during a sale window and later claim the new tokens. The platform emphasizes non-custodial participation and fee burns for oversubscribed sales.
- Aster Token Drops 10% Amid Wash Trading Concerns: Aster’s token fell 10% after DefiLlama delisted its perpetual volume metrics, citing potential wash trading. DefiLlama’s founder highlighted that Aster’s reported volumes were closely mirroring Binance perpetuals, raising doubts about the data’s authenticity.
- Australian Solana Treasury Acquires 216.8M PUMP Tokens: Fitell Corporation, an Australia-based firm, purchased 216.8 million PUMP tokens for $1.5 million to expand its Solana-based digital asset treasury. The move reflects the company’s strategy to capitalize on long-term growth opportunities in the Solana ecosystem, where PUMP has surged over 90% in the past month.
Bitcoin Technical Analysis
Summary:
- The current sentiment around BTC is Bullish.
- BTC reached a new all-time high last week and continues to hold strong. As noted in our last weekly report, October has historically been a bullish month for Bitcoin, and current technicals and market sentiment indicate the uptrend may continue.
- Key support levels to consider are around $117,800 (20 EMA D) and $112,000. On the upside, resistance level is at $126000
It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent. - For profit-taking, strategically selling near the outlined resistance levels/support levels is a recommended approach. Always exercise caution and implement sound risk management practices in trading endeavours.
Ethereum Technical Analysis
Summary:
- The current sentiment around ETH appears Bullish.
- ETH has returned close to its all-time high, reclaiming above the 20 EMA on the daily chart. With momentum building, it is expected to breakout above the key $4,760 level. Overall, the short- and mid-term outlook for ETH remains very bullish.
- Significant support levels include $4250 and $3865, while resistance level to watch is at around $4763.
- These levels play a crucial role in determining potential price movements. It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
Solana Technical Analysis
Summary:
- The current sentiment around SOL is Bullish.
- SOL continues its upward push, though it is underperforming ETH and BTC. Overall, it remains technically strong and is expected to maintain a bullish bias in the coming weeks.
- Key support levels to consider are around $205 and $191. On the upside, resistance level is at $246 and $260.
- It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
- For profit-taking, strategically selling near the outlined resistance levels/support levels is a recommended approach. Always exercise caution and implement sound risk management practices in trading endeavours.
Disclaimer: “The information, advise and/or views provided on this page are that of the author or company and are for informational purposes only. The Platform does not intend to: (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, or (ii) to provide accounting, legal, or tax advice, or investment recommendations, or (iii) make any representation of any kind, express or implied, on accuracy, availability, reliability or completeness of the same. Note Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. AT NO TIME WILL THE PLATFORM BE LIABLE FOR YOUR USE OR RELIANCE OF THE SAID INFORMATION, ADVISE AND/OR VIEW WHICH IS SOLELY AT YOUR OWN RISK.”
