Bitcoin's ‘Uptober’ vibes hinge on Fed rate cut odds, Nasdaq and tech stocks’ response
Bitcoin is down 4.3% in October despite historically strong monthly returns. Institutional flows into Bitcoin exchange-traded funds (ETFs) and equities correlation hint at a potential rebound. Bitcoin’s current weakness can also be linked to the US equities market.
Few financial institutions offer stablecoins, with many still ironing out plans. Public cryptocurrencies are the top asset spurring digital-wallet rollouts. Community banks had the largest share of leaders who decided not to issue a stablecoin. Banks and credit unions planning to offer digital wallets for digital assets are most interested in supporting public cryptocurrencies like Bitcoin.
Government shutdown delays release of critically important inflation figures
The government shutdown is delaying another major economic report. The Labor Department's monthly inflation data was scheduled for release Wednesday, but was postponed until Oct. 24. The figures are needed to calculate the annual cost of living adjustment for recipients of benefit programs such as Social Security. The shutdown could make things worse for agencies like the Fed if it …
172 public companies now hold Bitcoin (BTC). 48 new ones entered the digital asset treasury space during the third quarter. The total number of coins held has crossed over one million, representing 4.87% of the total supply. Strategy is the largest Bitcoin treasury company, with its most recent buy on Oct. 6.
Bitcoin could see one more slump before all-time highs: Peter Brandt
Peter Brandt believes Bitcoin could be back to $50-60,000 within the next week or so. Charles Edwards advises traders to be careful with leverage. BitMEX co-founder Arthur Hayes recommends to buy everything. Macroeconomic signals suggest fresh capital could flow into the cryptocurrency market in coming weeks.
Lucas Kiely is CEO of Future Digital. He believes that in the largely unregulated world of crypto investors often act irrationally and make big mistakes in the form of leverage. Every investor needs to take a more systematic approach to the industry now that it has matured.
Crypto crash unlikely to have derailed ‘Uptober,’ analysts say
The crypto markets are still on track for a bullish October despite a liquidation event last week. The market capitalization recovered quickly after the weekend rout, but has since cooled off slightly as Bitcoin retreated below $111,000 again on Tuesday. The trade tariff scare that contributed to the weekend crash seems to be waning as President Trump and Chinese President …
Federal Reserve Gov. Christopher Waller says policymakers must embrace AI and not be timid about the short-term labor market disruptions that the technology may engender. AI has the potential to "democratize expertise," allowing workers to access higher-order knowledge and tools that could lead to the next phase of sustained productivity growth. The U.S. took a more laissez-faire approach to internet …