Price Action:

*In the past 24 hours, BTC edged up from around $67,177 to $67,997, peaking at $68,797, indicating a stable trading range. A bullish move could push Bitcoin past the $68,065 resistance, aiming for $69,187 with ongoing accumulation and positive sentiment. Conversely, a dip below current levels might lead to support tests at $66,270 or $62,802 if overbought signals prompt selling.

*Meanwhile, ETH saw a slight rise, moving from $2,526 to $2,541, with a high of $2,558 and a low of $2,461, reflecting a steady upward trend.

*Top winners in the last 24h in the top100 category ranked by market cap include SAFE +21.7%, RAY +8.9%, and ENA +4.2%, while the coins that have decreased the most include AERO -5.4%, PENDLE -5.1%, and OM -4.4%.

Friday

*U.S. stock futures indicated gains at the Wall Street open, as investors moved past concerns over rising borrowing costs that had dampened market sentiment earlier in the week. 

*S&P 500 futures climbed 0.2%, hinting that the index might pare back its first weekly decline in seven weeks. Meanwhile, Treasury yields fell for a second day, leaving the 10-year note’s rate up about 0.1 percentage points for the week.

*Traders are now focusing on upcoming U.S. economic data, including next week’s monthly payrolls report, for insights on potential Federal Reserve interest-rate cuts. Some analysts anticipate a stock market boost if Donald Trump wins the U.S. presidential election on November 5, though others warn it could revive inflation and slow down the pace of Fed rate cuts.

*China’s central bank maintained its one-year policy rate after a significant rate cut last month, signaling a cautious approach to further monetary stimulus.

*Microsoft has included “assessment in investing in bitcoin” as a voting item for its December shareholder meeting.

*Kraken plans to launch its own L2, “Ink,” in Q1 2025, built using the OP Stack. This move follows Coinbase’s release of its L2, Base, in 2023.

Thursday

*Stocks were poised for their first gains of the week, driven by a series of positive earnings surprises in Europe and stellar results from Tesla Inc.

*Nasdaq 100 futures rose 0.8% following Tesla’s announcement of its largest quarterly profit in over a year, which pushed the stock up 11% in premarket trading. Meanwhile, Europe’s Stoxx 600 increased by 0.5%, buoyed by strong earnings from Barclays Plc, Unilever Plc, and Hermes. US Treasuries rose for the first time this week, while the dollar weakened.

*These gains signal a continuation of the rally that recently propelled the S&P 500 to its 47th record high. Traders are preparing for more earnings reports from major US tech companies, the volatile US presidential race, and the upcoming Federal Reserve rate decision.

*In Europe, government bonds gained amid expectations of a rate cut, as data showed a continued slowdown in private-sector activity for a second consecutive month. The latest purchasing managers’ data did little to alleviate concerns about the region’s economic stagnation, and the likelihood of a half-point rate cut by the European Central Bank in December remains uncertain.

Wednesday

*U.S. futures indicated a weaker opening on a busy earnings day, while bonds declined as the likelihood of less aggressive interest rate cuts from the Federal Reserve continued to impact markets.

*The S&P 500 was on track to decline for a third consecutive day, with Starbucks Corp. slipping in premarket trading after withdrawing its 2025 guidance, and McDonald’s Corp. dropping 6% following an E. coli outbreak. Boeing Co. and Coca-Cola Co. also fell after releasing their results, while Tesla Inc. and others were still set to report.

*The yield on ten-year Treasuries rose by three basis points as bonds fell, after surpassing 4.2% for the first time since July earlier this week. Meanwhile, yields on Japan’s 40-year bonds reached a 16-year high.

*The overall cautious market sentiment reflects investors scaling back expectations of rapid policy easing, as the U.S. economy shows resilience and concerns grow over wider fiscal deficits following the presidential election. Most Federal Reserve officials who spoke earlier this week indicated a preference for a slower pace of rate cuts.

*The IMF reduced its global growth forecast for next year, citing rising risks such as conflicts and trade protectionism, while acknowledging central banks’ efforts to curb inflation without triggering recessions. Expectations of deeper rate cuts by the European Central Bank to support the regional economy spurred a rally in short-term European bonds.

*Nasdaq 100 futures dropped 0.3% as investors awaited Tesla’s earnings report. The electric vehicle maker’s shares declined in premarket trading, with Tesla being the only member of the “Magnificent Seven” tech companies expected to see a profit decrease in its latest quarterly results.

*Scroll, a zero-knowledge rollup for Ethereum, announced the launch of its native token along with its first airdrop, $SCR, today.

Tuesday

*U.S. stock futures fell while Treasuries stabilized following Monday’s selloff, as traders speculated about the direction of U.S. interest rates.

*S&P 500 futures dropped 0.4%, suggesting the first consecutive decline in nearly 30 sessions for the index. The yield on 10-year Treasuries held steady at 4.19%, after surging by more than 10 basis points earlier in the week.

*The decline in Treasuries on Monday triggered a global downturn as investors scaled back expectations for Federal Reserve rate cuts, following signals from officials favoring a more gradual easing approach. Concerns about inflation, partly tied to a potential Donald Trump presidential win and his proposed tax cuts and trade tariffs, also contributed to higher rate expectations.

*Gold gained, nearing its record high from Monday, driven by safe-haven demand amid focus on the Middle East conflict and the approaching U.S. elections.

*Cryptocurrency transaction volumes in Brazil have once again hit record highs. Volumes increased by 24.2% compared to the previous year, surpassing $43.5 billion from January to September 2024. Stablecoins played a major role in this growth, with Tether’s USDT taking the lead.

Monday

*U.S. stock futures declined as investors awaited a wave of earnings reports for indications that the longest weekly rally of the year could continue. Oil rose, and gold hit a record high amid rising Middle East tensions.

*S&P 500 futures pointed to a 0.4% drop at the market open, while Nasdaq 100 futures fell 0.6%.

*Markets are influenced by changing investor perspectives on the global economy and geopolitical risks, particularly from Middle East conflicts. Over 20% of S&P 500 companies, including Tesla, Boeing, General Motors, and Coca-Cola, are set to release earnings this week.

*The dollar strengthened, and U.S. Treasuries fell, with the 10-year yield rising five basis points. Traders have scaled back expectations for Fed rate cuts following strong economic data, with several Fed officials scheduled to speak later on Monday.

*Stripe acquired stablecoin platform Bridge for a record $1.1 billion.