📊 Crypto Midday Briefing: Key Updates (October 22)
$BTC surged to $84,898 early this morning before pulling back, and is now around $82,746, giving back most of its morning gains; $ETH at $2,438, $XRP at $1.343 (+0.77%, the only one of the four major coins in positive territory), and SOL at $105.29.
Key updates:
1️⃣ Next week’s FOMC meeting (October 27–28) is the biggest wildcard: A Reuters poll of 100 economists found that 94 expect rates to remain unchanged this month, but most expect a rate hike in December, adding to cautious sentiment.
2️⃣ ETF flows are seesawing, not moving in one direction: There were net inflows of $527 million on October 19, but net outflows of $82.4 million on the 16th and $6.7 million on the 20th (Farside).
3️⃣ Switzerland’s first retail spot Bitcoin ETF (BBIT) will list on the SIX Swiss Exchange in November. FINMA has exceptionally exempted it from diversification requirements.
4️⃣ JPMorgan has included Bitcoin in its long-term forecasts for the first time, projecting annualized returns of 10% while also warning of high volatility.
5️⃣ Solana’s Alpenglow upgrade is now live, promising faster transaction confirmations.
In a nutshell: A pullback after a surge, with flows seesawing—the market awaits next week’s FOMC.
(Data sources: Finnhub, CHOSUNBIZ, Farside, BeInCrypto. This post is for informational purposes only and does not constitute investment advice.)
#BTC #ETH #Cryptocurrency
$BTC surged to $84,898 early this morning before pulling back, and is now around $82,746, giving back most of its morning gains; $ETH at $2,438, $XRP at $1.343 (+0.77%, the only one of the four major coins in positive territory), and SOL at $105.29.
Key updates:
1️⃣ Next week’s FOMC meeting (October 27–28) is the biggest wildcard: A Reuters poll of 100 economists found that 94 expect rates to remain unchanged this month, but most expect a rate hike in December, adding to cautious sentiment.
2️⃣ ETF flows are seesawing, not moving in one direction: There were net inflows of $527 million on October 19, but net outflows of $82.4 million on the 16th and $6.7 million on the 20th (Farside).
3️⃣ Switzerland’s first retail spot Bitcoin ETF (BBIT) will list on the SIX Swiss Exchange in November. FINMA has exceptionally exempted it from diversification requirements.
4️⃣ JPMorgan has included Bitcoin in its long-term forecasts for the first time, projecting annualized returns of 10% while also warning of high volatility.
5️⃣ Solana’s Alpenglow upgrade is now live, promising faster transaction confirmations.
In a nutshell: A pullback after a surge, with flows seesawing—the market awaits next week’s FOMC.
(Data sources: Finnhub, CHOSUNBIZ, Farside, BeInCrypto. This post is for informational purposes only and does not constitute investment advice.)
#BTC #ETH #Cryptocurrency