LAST WEEK RECAP:
U.S. retail sales increased 0.4% in September, better than 0.3% expected.
ECB (European Central Bank) cut 25 bps as expected.
Trump’s Polymarket odds reached above 60%, the highest since August.
Trump-backed DeFi project World Liberty Financial raised ~$11M.
US BTC ETFs recorded 6 consecutive days of inflows.
SEC approves spot BTC ETF option trading on NYSE, Cboe.
BlackRock in talks with crypto exchanges such as Binance, OKX, and Deribit to integrate BUIDL token as futures collateral
Radiant Capital suffered a $50M hack, which is the second hack to the protocol this year, the first hack cost $4.5M.
The FBI arrested the man it says hacked the SEC's Twitter and posted the fake spot Bitcoin ETF approval.
ApeChain and its official cross-chain bridge have been launched.
LEGACY MARKETS – DXY
DXY had a strong rebound from the lows. With it now trading at mid-range there’s a good chance it slows down a bit. This should give crypto and equities some relief/ more upside.
LEGACY MARKETS – VIX
VIX is showing more and more weakness. Falling below 21 already gave markets some good upside. Ideally, it falls completely back to the 12-14 range.
BTC WEEKLY VIEW
BTC set up a real reversal as discussed last week. With it trading near all-time highs and crypto being seasonality-wise very strong in Q4 it’s likely a matter of time before we break all-time highs.
ETH WEEKLY VIEW
ETH is close to breaking out of the 2.4-2.7k range. With ETH/BTC also finally staying stable while BTC was rallying to 68k it could be time for ETH to finally catch up.
ETH/BTC
ETH/BTC for how weak it’s been was able to hold the lows while BTC was rallying towards 68-69k. This shows there’s finally some underlying stability/relative strength building in the ratio.
TOTAL3 USD MARKET STRENGTH
As mentioned last week, if BTC could stay stable/rally alts would likely start trending. There have been a handful of alts that started and the stronger BTC stays the more likely more will follow.
TOTAL3 BTC MARKET STRENGTH
TOTAL3/BTC is still ranging. For a full “Altseason”, a range break to the upside would be the start of a massive trend of altcoin dominance over BTC.
SUMMARY
ALT/BTC continues to show strength with TOTAL3/BTC being on the brink of a macro reversal.
ETH/BTC showing relative strength while Bitcoin is trending for the first time in a while.
DISCLAIMER:
The information in this report is for information purposes only and is not to be construed as investment or financial advice. All information contained herein is not a solicitation or recommendation to buy or sell digital assets or other financial products.
