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According to CoinDesk, the CoinDesk 20 Index experienced a decline, closing at 1853.74, down 1.6% or 31.03 points from the previous day. Despite the overall drop, eight out of the twenty assets in the index showed positive movement. Leading the gains were APT, which surged by 10.8%, and ETC, which increased by 2.2%. On the other hand, XRP and RENDER were the most significant laggards, with XRP falling by 9.2% and RENDER decreasing by 4.3%. The CoinDesk 20 Index is a comprehensive index that is traded across multiple platforms and regions worldwide, reflecting a broad spectrum of the cryptocurrency market.

According to Odaily, data disclosed by Trader T reveals that BlackRock's IBIT pre-market trading volume today reached $19 million. Of this total, 37% were active buy orders, while 28% were active sell orders.

On Oct 03, 2024, 13:18 PM(UTC). According to Binance Market Data, Bitcoin has dropped below 60,000 USDT and is now trading at 59,866 USDT, with a narrowed 1.55% decrease in 24 hours.

According to Odaily, the release of the US initial jobless claims data led to a brief fluctuation of over 10 points in the Dollar Index (DXY). The index is currently reported at 101.87.

According to CoinDesk: Grayscale has launched the Grayscale Aave Trust, offering investors exposure to Aave's AAVE token, and expanding its lineup of digital asset investment products. Aave, a leading decentralized lending protocol based on the Ethereum blockchain, has become the largest lending platform by total value locked (TVL), according to DeFiLlama.Grayscale's head of product and research, Rayhaneh Sharif-Askary, highlighted the potential of Aave to "revolutionize traditional finance" by optimizing lending and borrowing processes, removing intermediaries, and reducing reliance on human judgment through blockchain and smart contracts.This launch follows Grayscale's recent rollout of the Grayscale Avalanche Trust, adding to its growing portfolio of over 20 crypto investment products. Grayscale also launched various trusts earlier this year, including the Grayscale Bitcoin Trust (GBTC), Grayscale Mini Bitcoin Trust (BTC), Grayscale Ethereum Trust (ETHE), and Grayscale Ethereum Mini Trust (ETH).

According to Odaily, the number of initial jobless claims in the United States for the week ending September 28 reached 225,000, slightly above the expected 220,000. The previous week's figure was revised from 218,000 to 219,000.The four-week moving average of initial jobless claims for the same period was 224,250, a slight decrease from the previous week's revised average of 225,000, which was initially reported as 224,750.Continuing jobless claims for the week ending September 21 stood at 1.826 million, lower than the anticipated 1.832 million. The previous week's figure was revised down from 1.834 million to 1.827 million.

According to Cointelegraph, traders are expecting more substantial price fluctuations for Ether (ETH) compared to Bitcoin (BTC) due to upcoming macroeconomic events. Derive founder Nick Forster noted in an Oct. 2 analyst report that Ether's forward volatility is projected to spike between Oct. 25 and Nov. 8, coinciding with the United States presidential election on Nov. 5. Forster emphasized that the US election could significantly impact ETH prices, particularly because of its connections to the decentralized finance (DeFi) ecosystem, which might face regulatory scrutiny depending on the elected president's stance on crypto. Derive data indicates a 68% chance of a price swing between -14% and +16% within three days after the election, with a 95% chance of a move ranging from -26% to +35%. At the time of publication, ETH forward volatility stands at 76.6%, while BTC is at 69.8%. This suggests that traders expect significant movement during this period, with ETH appearing more sensitive to external events. Forster explained that traders seem more confident in Bitcoin's ability to withstand macro events, likely due to its established position as a digital store of value and its relatively less direct exposure to regulatory concerns compared to Ethereum. With broader ecosystem concerns hinging on the US election outcome, traders are pricing in more extreme movements for ETH. Forster added that this data reflects traders' expectations for increased uncertainty as the election approaches. Currently, Ether is trading at $2,364, down 5.93% since Oct. 2. Despite the much-anticipated Ether ETF launch in July, the historical debut has not bolstered Ether's price.

According to Odaily, QCP Capital's analysis suggests that the current weakness in the cryptocurrency market is temporary, given its strong correlation with US stocks. As the US stock market recovers, cryptocurrencies are likely to follow suit. This correlation highlights that macroeconomic factors are currently the primary drivers of risk asset prices. The ADP employment report exceeded expectations, making tomorrow's non-farm payroll report crucial for confirming the strength of the US labor market. The combination of expected interest rate cuts and robust labor market strength could boost risk assets. Despite the Middle East tensions affecting Bitcoin during a historically strong month, this decline is seen as temporary, with an anticipated 'October rise' rebound expected to prevail.

According to Cointelegraph, banks across North America, Europe, and Asia are gearing up to participate in new digital asset trials initiated by the Society for Worldwide Interbank Financial Telecommunication (SWIFT). SWIFT announced on October 3 that it will commence a digital asset trial on its network in 2025. The trial will focus on experimenting with transactions involving multiple digital currencies and assets.The primary objective of these trials is to explore how the banking network can offer financial institutions unified access to various digital asset classes and currencies. Initial use cases will concentrate on payments, foreign exchange, securities, and trade, enabling multi-ledger delivery-versus-payment and payment-versus-payment transactions.In its announcement, SWIFT emphasized the rapid growth of unconnected platforms and technologies within the digital asset economy, leading to an increasingly fragmented landscape. This fragmentation, according to SWIFT, poses significant challenges to global adoption by creating a complex web of 'digital islands.'SWIFT aims to leverage its unique position to interlink these disparate networks with each other and with existing fiat currencies. This initiative is intended to enable its global community to seamlessly transact using digital assets and currencies alongside traditional forms of value.Cointelegraph reached out to SWIFT for comments regarding which digital assets are likely to be part of its blockchain trials in 2024 but did not receive a response at the time of publication. This is a developing story, and further information will be added as it becomes available.

According to PANews, the Federal Reserve may encounter additional complexities in the October employment report, which is expected to be released before the upcoming meeting on November 6-7. Lydia Boussour, a senior economist at EY, stated that any significant slowdown in wage growth and a substantial rise in the unemployment rate could lead data-dependent Fed policymakers to consider another 50 basis point rate cut. However, Neil Dutta, head of economic research at Renaissance Macro Research, anticipates two significant 50 basis point rate cuts in November and December due to complications arising from strikes and hurricane damage.

The global crypto market cap is $2.11T, a 1.87% decrease over the last day, according to CoinMarketCap data.Bitcoin (BTC) traded between $60,000 and $62,390 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $60,654, down by 1.43%.Most major cryptocurrencies by market cap are trading lower. Market outperformers include ALPINE, SUN, and AXL, up by 19%, 8%, and 8%, respectively.Top stories of the day:Federal Reserve Rate Cut Probabilities for November Revealed Swift to Launch Digital Asset Trials in 2025 Bitcoin Poised for Positive Seasonality in Q4 CryptoQuant Founder: Market Volatility Driven by Futures Fed Chair Powell Signals No Rush to Cut Rates Amid Upcoming Job ReportsFed Official Suggests September Rate Cut Was Justified SEC Appeals Ripple Lawsuit Ruling Fed Faces Potential Challenges Ahead of November Meeting BlackRock and Fidelity Bitcoin ETFs Rank Among Top 10 in AUM ADP Report Shows Broad Rebound in U.S. Job CreationMarket movers:ETH: $2349.1 (-4.79%)BNB: $542.3 (-1.92%)SOL: $137.56 (-6.52%)XRP: $0.5176 (-12.89%)DOGE: $0.10298 (-4.12%)TRX: $0.154 (-0.13%)TON: $5.208 (-4.82%)ADA: $0.338 (-4.79%)AVAX: $24.62 (-6.32%)SHIB: $0.00001595 (-4.49%)Top gainers on Binance:ALPINE/USDT (+19%)SUN/USDT (+8%)AXL/USDT (+8%)

According to Odaily, Federal Reserve Chair Jerome Powell has indicated that the Fed is not in a hurry to lower interest rates and prefers a gradual approach to rate cuts. However, this patience will be tested with a series of highly anticipated employment reports set to be released starting this Friday. If there are any new signs of deterioration in the job market, the Fed may be compelled to make a significant rate cut of 0.5 percentage points initially, followed by another substantial cut, even though policymakers currently expect to reduce rates by 25 basis points in both November and December.The latest employment market data, expected to be released on Friday, is anticipated to reinforce a trend of moderate cooling. Economists predict that 146,000 jobs were created last month, with the unemployment rate remaining steady at 4.2%. This report is largely in line with the creation of 142,000 jobs in August.

According to Cointelegraph, the cryptocurrency market has experienced a significant decline, with artificial intelligence and big data-related tokens losing $4.69 billion in market capitalization over three days. The market, which was valued at $38.82 billion on September 30, fell to $34.13 billion by October 3, casting doubt on the anticipated 'UPtober' trend where investors had hoped for a market recovery. Despite October's historical reputation as a favorable month for traders, this year appears to be shaping up as 'Octo-bear' rather than 'UPtober.' Among the leading AI and big data tokens, Near Protocol (NEAR) has seen the steepest decline, dropping 14.88% over the past seven days. As of the time of writing, NEAR is priced at $4.61. Other top-performing tokens, such as Bitensor (TAO) and Internet Computer (ICP), also experienced significant price declines, losing 9.37% and 13.35%, respectively, over the same period. This downward trend has impacted the broader AI and big data market, with tokens like Render (RNDR) down 13.64% and Artificial Superintelligence Alliance (FET) down 16.68%. Historically, October has been a period of strong gains and market stability, with many expecting Bitcoin (BTC) and altcoins to see upward momentum throughout the month. However, 2024 has defied that trend, with nearly $5 billion wiped from the AI and big data token market cap just three days into October. The broader crypto market has also seen a downward trend, influenced by geopolitical factors such as the ongoing conflict in the Middle East, regulatory challenges, and macroeconomic concerns. Despite the recent downturn, AI tokens are still performing significantly better than in July, when the total market cap was around $20 billion. Considering the shift in pace from three months ago, the AI and big data token market is up over $13 billion, essentially trivializing the recent loss in market cap in October. While the long-term trend for BTC in the fourth quarter and early 2025 seems positive, recent signs indicate there could be some short-term volatility in October.

According to Cointelegraph, Bitcoin (BTC) continues to exhibit a bullish market structure despite a recent retest of the $60,000 support level. Popular trader and analyst Rekt Capital has dismissed the fearful market sentiment surrounding the current BTC price action, emphasizing that Bitcoin's return to the $60,000 level is not a cause for concern. BTC/USD has experienced a 6% drop over the past three days, following a recent peak above $66,000. Rekt Capital noted that Bitcoin has revisited the low $60,000s multiple times in recent months, and each pullback has been met with different narratives of fear. He maintains that the bullish market structure remains intact. Fellow trader Jelle shares this optimistic outlook, suggesting that Bitcoin is undergoing a significant resistance/support flip. He reassured his followers that despite the initial red start to the quarter, Bitcoin's market structure is bullish, and key support levels are being reinforced. Previously, Cointelegraph reported on bearish BTC price predictions, with some analysts forecasting a potential drop below $60,000. Entrepreneur Mark Cullen advised traders to prepare for a possible dip to around $57,000, indicating that Bitcoin might still be heading lower. Onchain data analysis by Checkmate, the pseudonymous creator of Checkonchain, provides further insights. Using the short-term holder spent output profit ratio (STH-SOPR) metric, Checkmate observed that recent price performance reflects profit-taking by Bitcoin speculators. The STH-SOPR metric, which measures the proportion of funds in profit when moved onchain, has dipped below its center value of 1.0, suggesting a potential 'buy the dip' opportunity. Checkmate explained that a high STH-SOPR indicates profit-taking and selling pressure, while dips back to 1.0 or brief undercuts in a bull market present opportunities to accumulate Bitcoin at lower prices. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

According to Foresight News, Coinglass data indicates that the nominal value of open interest for BTC options across the network today stands at $19.097 billion. Meanwhile, the nominal value of open interest for ETH options is reported to be $4.733 billion.

According to Odaily, the CME 'FedWatch' tool indicates a 62.8% probability that the Federal Reserve will cut interest rates by 25 basis points in November. Additionally, there is a 37.2% chance of a 50 basis point rate cut.

On Oct 03, 2024, 00:39 AM(UTC). According to Binance Market Data, Bitcoin has crossed the 61,000 USDT benchmark and is now trading at 61,070.011719 USDT, with a narrowed narrowed 0.10% decrease in 24 hours.

On Oct 02, 2024, 16:04 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 62,000 USDT benchmark and is now trading at 62,066 USDT, with a narrowed narrowed 1.14% decrease in 24 hours.

According to CoinDesk, cryptocurrency has evolved as a global asset class with significant implications for modern investment portfolios. Despite undeniable growth, crypto remains volatile, posing challenges for even seasoned investors. An increasingly popular solution to navigating these risks is crypto index investing. Crypto index funds are products that bundle multiple cryptocurrencies into a single vehicle, offering a diversified, systematic approach to gaining exposure to the digital asset market while mitigating some of its inherent risks. Crypto index investing reduces reliance on the performance of any single digital asset, balancing exposure across a range of tokens with different risk profiles and use cases. This approach helps hedge against the volatility of individual cryptocurrencies, ensuring that portfolio performance is not overly reliant on the unpredictable price movements of one asset. Many institutional investors are looking to incorporate digital assets as part of their broader diversification strategy. Crypto index funds offer a streamlined way to gain access to this rapidly evolving sector while avoiding the steep learning curve associated with understanding and selecting individual cryptocurrencies. For investors seeking exposure to crypto as an asset class, this approach provides both simplicity and strategic depth. Managing a portfolio of cryptocurrencies can be resource-intensive. Factors like liquidity, custody, regulatory compliance, and security create significant operational challenges. Index products offer a solution by packaging a diverse selection of digital assets into a single investment vehicle. This reduces the need for active portfolio management, complex due diligence on individual tokens, and the overhead costs of custody and security for a variety of digital assets. An increasing number of institutional investors are looking for ways to participate in crypto without taking on unnecessary risk. Index funds and exchange-traded funds (ETFs) that focus on digital assets have emerged as a compelling option. We’ve experienced this trend as well with 30% of our retail and institutional clients opting to diversify their portfolios through a crypto index bundle. Crypto index funds have the ability to tailor exposure based on specific investment goals and risk tolerance. Some indexes focus exclusively on large-cap cryptocurrencies like bitcoin and ether, providing a stable base of well-established assets. Others may prioritize high-growth sectors like decentralized finance or newer blockchain protocols, offering higher potential upside alongside increased risk. Selecting the right index strategy depends on a detailed understanding of the underlying assets and market dynamics. Diversified exposure can enhance the risk-adjusted return profile of a portfolio, but the nuances of index composition should align with an investor’s broader strategy. Index investing offers a strategic, risk-managed approach for professional investors looking to capitalize on the crypto market’s growth. By offering diversified exposure, reducing operational complexity, and providing a controlled entry into the crypto ecosystem, index funds and ETFs are becoming valuable tools for those navigating the digital asset landscape.