Good morning! Here are the key takeaways from last night’s market action.
$BTC is back near 87K, and Uptober is looking more and more convincing. The bulls are already dreaming of 94K. The SEC is moving forward with new custody rules, filling in another piece of the regulatory puzzle.
Even more interesting, the U.S. Treasury has withdrawn its proposed rules on crypto mixers, citing concerns about harming ordinary users. The CFTC is also working on investor-protection rules—and even cited the Chainlink 2.0 white paper, much to the delight of $LINK fans. This regulatory one-two punch would’ve been unthinkable two years ago.
Institutions have been busy too: Strategy added 334 BTC, while BitMine snapped up 15112 $ETH . The number of holders of tokenized gold XAUT on BNB Chain has surged 29-fold in three months. Safe-haven demand is no joke.
But don’t get carried away: the 10-year U.S. Treasury yield hit 5.34%, a 24-year high, and the market is still pricing in an October rate hike. Rates this high are a real anchor on risk assets.
Tailwinds and headwinds are both in play. Don’t get carried away—stick to your positions.
NFA DYOR
#Bitcoin# #BTC# #Ethereum# #Uptober# #CryptoMarket#
$BTC is back near 87K, and Uptober is looking more and more convincing. The bulls are already dreaming of 94K. The SEC is moving forward with new custody rules, filling in another piece of the regulatory puzzle.
Even more interesting, the U.S. Treasury has withdrawn its proposed rules on crypto mixers, citing concerns about harming ordinary users. The CFTC is also working on investor-protection rules—and even cited the Chainlink 2.0 white paper, much to the delight of $LINK fans. This regulatory one-two punch would’ve been unthinkable two years ago.
Institutions have been busy too: Strategy added 334 BTC, while BitMine snapped up 15112 $ETH . The number of holders of tokenized gold XAUT on BNB Chain has surged 29-fold in three months. Safe-haven demand is no joke.
But don’t get carried away: the 10-year U.S. Treasury yield hit 5.34%, a 24-year high, and the market is still pricing in an October rate hike. Rates this high are a real anchor on risk assets.
Tailwinds and headwinds are both in play. Don’t get carried away—stick to your positions.
NFA DYOR
#Bitcoin# #BTC# #Ethereum# #Uptober# #CryptoMarket#