Gold and silver $XAG opened lower, with spot gold falling below 4,140. International oil prices edged down at the start of trading, with New York crude down 0.25%.
Most cryptocurrencies rose. Bitcoin briefly broke above $83,000, gaining over 0.3% in the past 24 hours. Ethereum rose 0.4%, SOL gained over 1%, and $ZEC rose over 3%.
Around 56,000 traders were liquidated in the global cryptocurrency market, nearly 70% of them holding short positions.
A spokesperson for Iran’s Islamic Revolutionary Guard Corps said that the possibility of war could not currently be ruled out. The seven undersea cables in the Strait of Hormuz are channels on which the global internet depends.
The U.S. Strategic Petroleum Reserve fell to 282.7 million barrels, its lowest level since October 1982.
The Federal Reserve will hold its rate-setting meeting on October 28–29. Markets put the odds of rates remaining unchanged at about 87%. U.S. spot Bitcoin ETFs saw net outflows of about $228 million last week.
What is affected:
Major cryptocurrencies such as Bitcoin, Ethereum, and SOL: In the short term, they are being pulled in both directions by macroeconomic and geopolitical news. The $80,000 level is both a psychological and technical support; a break below it could lead to a retest of last week’s low. A move back above $84,000–$85,000 would be needed to show that demand has truly returned.
Oil-related assets: Houthi attacks on Saudi Arabia and risks around the Strait of Hormuz are adding a premium to oil prices. They also indirectly affect inflation expectations and the Fed’s policy path, weighing on cryptocurrencies and gold.
Unusual moves in privacy coins such as ZEC: This reflects capital rotating between safe havens and thematic trades, not a broad-based rally across the sector.
Reason: The dollar strengthened after CPI came in hotter than expected, but falling oil prices and Treasury yields eased some concerns about further rate hikes. Traders lowered their expectations for an October hike, giving risk assets some breathing room. The key factors determining market direction will be the October 28 rate decision and U.S. crude inventory data due Wednesday.
Outlook: As long as Bitcoin holds above $80,000, the market is still in a range-bound recovery. A convincing move would require reclaiming $84,000–$85,000. ETF inflows have yet to return, and institutional demand remains weak, so don’t mistake a rebound for a reversal.
Related coins: Bitcoin is the largest cryptocurrency by market capitalization. Ethereum is the leading smart-contract platform. $SOL is a high-performance public blockchain. BNB is Binance’s exchange token. TON is backed by a social ecosystem. TRX is an established public blockchain with strong defensive characteristics.
Most cryptocurrencies rose. Bitcoin briefly broke above $83,000, gaining over 0.3% in the past 24 hours. Ethereum rose 0.4%, SOL gained over 1%, and $ZEC rose over 3%.
Around 56,000 traders were liquidated in the global cryptocurrency market, nearly 70% of them holding short positions.
A spokesperson for Iran’s Islamic Revolutionary Guard Corps said that the possibility of war could not currently be ruled out. The seven undersea cables in the Strait of Hormuz are channels on which the global internet depends.
The U.S. Strategic Petroleum Reserve fell to 282.7 million barrels, its lowest level since October 1982.
The Federal Reserve will hold its rate-setting meeting on October 28–29. Markets put the odds of rates remaining unchanged at about 87%. U.S. spot Bitcoin ETFs saw net outflows of about $228 million last week.
What is affected:
Major cryptocurrencies such as Bitcoin, Ethereum, and SOL: In the short term, they are being pulled in both directions by macroeconomic and geopolitical news. The $80,000 level is both a psychological and technical support; a break below it could lead to a retest of last week’s low. A move back above $84,000–$85,000 would be needed to show that demand has truly returned.
Oil-related assets: Houthi attacks on Saudi Arabia and risks around the Strait of Hormuz are adding a premium to oil prices. They also indirectly affect inflation expectations and the Fed’s policy path, weighing on cryptocurrencies and gold.
Unusual moves in privacy coins such as ZEC: This reflects capital rotating between safe havens and thematic trades, not a broad-based rally across the sector.
Reason: The dollar strengthened after CPI came in hotter than expected, but falling oil prices and Treasury yields eased some concerns about further rate hikes. Traders lowered their expectations for an October hike, giving risk assets some breathing room. The key factors determining market direction will be the October 28 rate decision and U.S. crude inventory data due Wednesday.
Outlook: As long as Bitcoin holds above $80,000, the market is still in a range-bound recovery. A convincing move would require reclaiming $84,000–$85,000. ETF inflows have yet to return, and institutional demand remains weak, so don’t mistake a rebound for a reversal.
Related coins: Bitcoin is the largest cryptocurrency by market capitalization. Ethereum is the leading smart-contract platform. $SOL is a high-performance public blockchain. BNB is Binance’s exchange token. TON is backed by a social ecosystem. TRX is an established public blockchain with strong defensive characteristics.