Price action:

*Over the past 24 hours, BTC saw a notable upward movement, rising from approximately $60,741 to close around $62,263, marking a 2.48% price increase. The price fluctuated within a range of about 6.14%, hitting a low of $58,883 and a high of $62,414. A bullish scenario could unfold if Bitcoin breaks the $62,555 resistance level, with potential to target the next resistance at $64,448, supported by continued accumulation and positive market sentiment.

*ETH also experienced significant price movement in the last 24 hours, starting at around $2,402 and closing at $2,443. The price fluctuated within a 5.48% range, with a low of $2,329 and a high of $2,452. Volume peaked notably around $2,354, suggesting strong buying interest at that level.

*Top positive movers in the last 24h in the top100 category ranked by market cap include ENA +21.7%, WIF +14.9%, and TIA +13.9%, while the coins that have decreased the most include UNI -4.5%, LEO -2.2%, and AAVE -0.2%. 94 of the 100 top coins are in the green today.

Friday

*Stocks surged to new all-time highs as major banks rallied, fueled by strong earnings reports that kicked off the season. Nearly every sector in the S&P 500 gained, with the index approaching its 45th record high of 2024. This marked its fifth consecutive week of gains, the longest streak since May.

*The yield on 10-year Treasury notes rose three basis points to 4.09%, while the Bloomberg Dollar Spot Index remained steady.

*Traders also digested various economic data. In September, prices paid to U.S. producers stayed flat, signaling further progress in curbing inflation. However, consumer sentiment unexpectedly declined for the first time in three months, as concerns over the high cost of living overshadowed optimism about the job market.

*The S&P 500 increased by 0.5%, while the Nasdaq 100 remained relatively unchanged. The Dow Jones Industrial Average climbed 0.7%. Tesla shares fell 7.7% after its much-anticipated self-driving taxi reveal lacked details. In contrast, Uber and Lyft saw gains of at least 8%.

*Uniswap Labs unveils its own Layer-2, Unichain, built on Optimism.

*It was revealed that the FBI created a cryptocurrency, NexFundAI, as part of an investigation into price manipulation in crypto markets.

Thursday

*Consumer prices rose more than expected in September. According to the Bureau of Labor Statistics’ latest report, US inflation eased slightly on an annual basis, but “core” prices remained sticky. The Consumer Price Index (CPI) increased by 2.4% year-over-year in September, down from August’s 2.5% rise. While this marked the lowest annual headline inflation rate since February 2021, it still exceeded economists’ forecast of a 2.3% increase.

*Minutes from the Fed’s September meeting revealed that most officials supported a 50-basis-point cut, although some preferred a more gradual approach.

*Both Europe’s Stoxx 600 index and S&P 500 futures fell by about 0.2%, following the U.S. equity index, which had hit its 44th record high this year. Ten-year Treasury yields remained above 4%, near their highest levels since late July, while Bloomberg’s dollar index was stable after an eight-day winning streak, the longest since April 2022.

*This week also marks the start of third-quarter earnings season, and investors will be watching closely to see if company profits are strong enough to sustain this year’s roughly 20% rally in the S&P 500.

*Optimism has carried out its fifth airdrop, distributing 10.3 million OP tokens (valued at $16 million) to 54,700 user addresses.

*A report by PwC reveals that nearly 50% of traditional hedge funds are now involved in crypto, particularly through options, marking a 29% increase compared to last year.

Wednesday

*U.S. futures dipped on Wednesday, weighed down by news that authorities are considering an antitrust crackdown on Alphabet Inc, and indications that the Federal Reserve will take a gradual approach to cutting interest rates.

*Futures for the S&P 500 and Nasdaq 100 slipped by around 0.2%. Alphabet’s stock dropped about 1.5% in premarket trading after the U.S. Justice Department indicated it may request a federal judge to compel Alphabet’s Google to divest parts of its search business.

*Traders are anticipating the release of minutes from the Fed’s meeting last month, scheduled for later Wednesday, with U.S. inflation data expected on Thursday.

*The Stoxx 600 index remained steady, as businesses with exposure to China awaited potential announcements of further stimulus to support growth.

*Canary Capital Group, filed paperwork with the Securities and Exchange Commission on Tuesday to introduce the Canary XRP ETF. This filing comes just a week after Bitwise Asset Management Inc. became the first company to submit an application for an ETF that tracks the XRP token.

*HBO debuted its documentary “Money Electric,” depicting software developer and Bitcoin contributor Peter Todd as Satoshi Nakamoto – the crypto community has so far dismissed the theory, criticizing it as poor journalism.

Tuesday

*Stocks rebounded after their worst day in a month, and bond yields stabilized as traders sifted through recent comments from Federal Reserve officials for clues about the central bank’s next moves. 

*Nvidia Corp. led semiconductor gains as its partner, Hon Hai Precision Industry Co., announced plans to expand server capacity due to strong AI chip demand.

*US-listed Chinese stocks dropped after Beijing refrained from introducing major stimulus, while Treasury two-year bonds outperformed following the recent market decline.

*UBS Global Wealth Management noted that stronger US jobs data and a solid ISM Services report boost confidence in a soft landing, but the data doesn’t signal the end of the Federal Reserve’s rate-cutting cycle.

*MicroStrategy soars to 6-Month high while NEAR, UNI, and APT drove gains in the crypto market. 

*Crypto(dot)com sues SEC, Chair Gary Gensler after receiving Wells Notice

Monday

*Stocks declined and key US Treasury yields rose above 4% as strong economic data dampened hopes for a significant interest-rate cut from the Federal Reserve next month.

*S&P 500 futures dropped 0.5%, while Nasdaq 100 futures fell 0.6%. Borrowing costs for both 10-year and 2-year Treasuries climbed above 4% for the first time since August, continuing Friday’s momentum after US job numbers exceeded expectations. The swaps market now reflects less than a quarter-point rate cut next month, down from earlier expectations of a 50 basis-point cut.

*Europe’s Stoxx 600 index also saw slight declines, while bond yields increased across the continent.

*These shifting rate expectations could weigh on equity markets, which have recently rallied to record highs amid a strong US economy, cooling inflation, and anticipated rate cuts. Meanwhile, crude oil prices approached $80 per barrel as investors await Israel’s response to Iran’s missile strike.

*Cryptocurrencies were trending higher before markets opened on Monday, extending weekend gains fueled by Friday’s robust US jobs data, with analysts looking for additional catalysts to sustain the momentum.