● US PPI annual rate higher than market expectations
According to Odaily Planet Daily, the annual rate of PPI in the United States in September was 1.8%, higher than the expected 1.6%, and the previous value was revised from 1.70% to 1.9%. The monthly rate of PPI in the United States in September was 0%, lower than the expected 0.1%, and the previous value was 0.20%.
● CME "Fed Watch": The probability of a 25 basis point rate cut in November is 95.6%
According to CME's "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points by November is 95.6%, and the probability of maintaining the current interest rate is 4.4%. The probability of a cumulative interest rate cut of 50 basis points by December is 84.1%, the probability of a cumulative interest rate cut of 75 basis points is 0%, and the probability of a cumulative interest rate cut of 100 basis points is 0%.
According to Odaily Planet Daily, Grayscale listed the crypto assets it is considering adding to its products on the X platform, including AERO, AKT, APT, AR, ARB, ATOM, CELO, CORE, DOGE, ENA, FET, HNT, ICP, IMX, INJ, KAS, METIS, OM, OP, PENDLE, POL, PYTH, RUNE, SEI, STRK, TIA, TON, TRX, UMA, VET, WLD, etc. Grayscale stated that as of September 30, 2024, the relevant crypto assets are not included in its Crypto Sector.
● The US SEC again postpones its ruling on Cboe's listing of ETH ETF options
The U.S. Securities and Exchange Commission (SEC) has again postponed its ruling on Cboe’s listing of options related to the spot Ether (ETH) exchange-traded fund (ETF), with the new deadline being December 3, Cointelegraph reported.
Cboe filed an application with the SEC in August seeking authorization to list options on nine ETFs, including BlackRock's iShares Ethereum Trust ETF, Fidelity Ethereum Fund, Grayscale Ethereum Trust, etc.
● Mt. Gox trustee postpones repayment to creditors until 2025
According to WuSay, the Mt. Gox trustee has postponed the deadline for repaying creditors by one year to October 31, 2025, which may ease concerns about the pressure on Bitcoin selling. Crypto wallets associated with Mt. Gox still hold $2.8 billion worth of Bitcoin after distributing assets worth about $6 billion to creditors earlier this year.
● Michael Saylor: MicroStrategy aims to become the leading Bitcoin bank
According to WuSay, MicroStrategy founder Michael Saylor said that MicroStrategy's ultimate goal is to become a leading Bitcoin bank, and its core business is to create Bitcoin capital market instruments covering stocks, convertible stocks, fixed income and preferred stocks. Saylor believes that Bitcoin is a revolutionary form of digital capital and a powerful tool that can provide inflation hedging tools and long-term value storage. MicroStrategy has been actively acquiring Bitcoin since 2020 and currently holds 252,220 Bitcoins.
According to Odaily Planet Daily, Lookonchain monitoring shows that BlackRock has bought 12,272 BTC (US$742 million) in the past 16 days. Between August 27 and September 24, when Bitcoin was below $60,000 for a long time, BlackRock had almost no accumulation. Since September 24, BlackRock has resumed buying and currently holds 369,822 BTC (US$22.4 billion).
● Analysts say the cottage season is coming, the market shows bullish signals
According to Cointelegraph, crypto traders say many altcoins are currently showing bullish patterns and the market may be about to enter a “up and up” season.
In an Oct. 11 post, anonymous analyst Moustache noted that the Altcoin Seasonal Index has formed its most bullish pattern in 3.5 years, an inverse head and shoulders pattern. The inverse head and shoulders pattern is a bullish indicator that suggests the downtrend is weakening and buyers are becoming more dominant in the market, which means that Bitcoin’s dominance may be weakening and altcoins may begin to outperform Bitcoin.
Despite the recovery, the index currently stands at 39, meaning that only 39% of the top 50 cryptocurrencies by market cap have outperformed Bitcoin over the past 90 days, short of the 75% required to declare an altcoin season.
