5 key events that could determine the Federal Reserve's next interest rate move:
1. Tuesday – ADP Employment Change: Shows the number of private-sector jobs added. Job growth rose by 18.75% in last week's report.
2. Wednesday – Consumer Price Index (CPI) Inflation: Core inflation hit a five-year low last month. The next reading will show whether inflation is cooling or rising again.
3. Thursday – Producer Price Index (PPI) Inflation: Last month's reading was higher than expected. Another increase could signal higher business costs, which might eventually be passed on to consumers.
4. Thursday – Initial Jobless Claims: Shows the number of Americans filing for unemployment benefits for the first time, indicating whether layoffs are on the rise.
5. Friday – Kevin Warsh Speech: Markets will closely monitor his comments for clues regarding the Federal Reserve's next interest rate decision.
🚨 A heated verbal clash between U.S. Treasury Secretary Scott Bessent and Senator Elizabeth Warren! 🇺🇸🔥
Treasury Secretary Scott Bessent took aim at Senator Elizabeth Warren, accusing her of lacking knowledge regarding financial markets.
📚 He mockingly offered to add a "Fixed Income for Dummies" book to a previous lesson on foreign exchange (FX) markets—provided she could pass the course.
👀 The dispute between the two has escalated into a public exchange of criticism regarding their understanding of financial markets.
🚨 Unauthorized electronic component discovered in Ledger devices.
Ledger has announced the discovery of an unauthorized component in at least one device sold through the Asian distributor CryptoBilis, amidst investigations into potential losses exceeding $86 million in BTC, ETH, and TRX. The company confirmed that its systems were not compromised, while the distributor has temporarily halted sales.
⚠️ The final value of losses and the number of affected users have not yet been confirmed; therefore, users are advised to take precautionary measures to protect their assets.
$BTC Fighting for that $83K level. Weekly closes above would be good for the bulls in the short term.
Below we see the Daily 200MA/EMA moving up. Generally right after a big breakout from a bear trend you do test these at some point later in the trend. At this moment they are moving up by about ~$100 a day so even if price remains stable, you will see the Daily 200EMA catch up in about ~2 months or so.
Good to keep an eye on that if/when it happens at whatever price that might be. Generally these offer a good initial support after price broke out from it.
These two are also what rejected price back in May and send BTC to new lows.
🚨 Crypto disaster! 80 Bitcoin lost due to a Ledger wallet 😱
An investor purchased 80 BTC—worth $5.2 million—and made a profit of $1.38 million 💰
However, a week ago, he bought a Ledger wallet from a distributor named CryptoBillis and transferred all his Bitcoin onto it.
💥 The shock? The entire 80 BTC vanished.
⚠️ This incident highlights the dangers of buying cold wallets from untrusted sources, though the exact cause of the disappearance still needs to be confirmed.
In your opinion, are cold wallets truly safe? Or is the purchasing method more important than the wallet itself? 👀
🚨 Tom Lee: "I believe people aren't bullish enough; we are going to see massive moves in cryptocurrency prices."
Lee predicts that Bitcoin will surpass the $100,000 mark and Ethereum will reach $7,500 by the end of the year.
He also anticipates a cryptocurrency bull run that far exceeds the previous booms seen with Initial Coin Offerings (ICOs) and Non-Fungible Tokens (NFTs), driven by institutional adoption, the launch of new financial products, and increased capital inflows.
Evernorth—backed by Ripple—expects trading to begin on the Nasdaq exchange under the ticker XRPN on October 12.
With approximately 473 million XRP tokens in its planned holdings, this event could mark a significant milestone in boosting XRP’s presence among institutional investors.
🔥BULLISH: The U.S. stocks finish near session highs, capping another winning week Friday.
🟢 Dow Jones: +0.83% to 51,654.95 🟢 S&P 500: +0.59% to 7,811.54 🟢 Nasdaq: +0.64% to 27,366.17 🟢 Russell 2000: +0.50%
The S&P 500 gained 1.1% for the week, extending its winning streak to THREE consecutive weeks.
The Dow added roughly 585 points for the week as investors turned their attention to the upcoming Q3 earnings season, with JPMorgan among the major banks set to report.
Meanwhile, the 10-year Treasury yield stood near 5.24%, WTI crude traded around $91.65, and Bitcoin hovered near $82,300.
⚡ Over $1 billion in liquidations across the cryptocurrency market in 24 hours! 📉 Trader position liquidations surpassed the $1 billion mark over the past day amidst a wave of heavy losses hitting the crypto market.
🚨 Notably, the largest previous liquidation event occurred roughly a year ago, around the same time.
$ETH Failed to hold the previous range high at $2550 and also lost the 4H 200MA/EMA and broke the market structure on the low timeframe.
I have no rush bidding any dips until we see a proper sign of strength. Especially on alts.
Things have run up A LOT the past few months. And as I mentioned a few times the past few days, we tend to see a proper scary flush after the first high impulsive move out of the bear market.
So I will just wait and chill for however long is needed.
Funding rate remains positive, heavy spot selling from Coinbase with the deepest Coinbase discount in 2 months, Open Interest keeps rising.
Meanwhile price is just slow bleeding as dip buying longs keep getting squeezed.
For these moves to reverse in the short term you usually first want a proper long flush where Open Interest dives and shorts start covering.
ETFs saw their biggest ouflows in weeks yesterday and today looks like it's going to be a big one as well. So you'd need that spot selling to slow down as well.
We're seeing nothing of that yet. No reason for me to participate in the long side until some of those things clear or we get a proper liquidation candle.
The level to retake for the bulls remains $83K. That would likely squeeze out some late shorts and cause some relief. Daily closes above that level would be key.
On the downside $75K & $72K are the main high timeframe levels. Also has the Daily 200MA/EMA and bull market support band sitting in that region. Most of those do tend to get tested at some point during a high timeframe market reversal.
There is no problem just taking it chill after the amazing few months we've just had. The biggest mistake is to give back what the market has given you when things turn and the market environment goes from easy mode to hard mode again.
🚨 Something alarming is happening behind the scenes in the US bond market! ⚠️⚠️
The yield on the 10-year US Treasury note ($US10Y) is surging to staggering, alarming levels! 📈🔥
The last time bond yields hit such extreme highs was in 2007! We all remember what followed: the Global Financial Crisis (2008), which caused the S&P 500 ($S&P 500) to crash—plummeting 56.8% from peak to trough! 💥📉 High bond yields exert immense pressure and drain liquidity away from risk assets (stocks and crypto).