“Despite a comparably muted October, bitcoin’s steady performance near $110,000 and signs of Fed easing have analysts calling for a breakout.”, — write: www.coindesk.com
The price action today will be familiar to frustrated bitcoin bulls, with gold and silver surging yet again to new record highs and US stocks in the green. Bitcoin, though, remained under pressure, slipping 1.2% over the past 24 hours to $111,500. Losses were somewhat steeper across the rest of the crypto sector, with ether and XRP dipping 3% and solana and dogecoin dropping roughly 2%.
Patience say analystsSpeaking at the Digital Asset Summit in London on Wednesday, Quinn Thompson, chief investment officer at Lekker Capital, said bitcoin’s time is coming.
“I posit that we will catch up to gold,” he told attendees. “It will start very soon and the move that is about to come in bitcoin and crypto broadly will resemble a November 2024 and an October 2023 type of move.”
Matt Mena, a crypto research analyst at 21Shares, voiced a similar outlook, saying bitcoin’s durability through global uncertainty is “underscoring how structural demand—anchored by ETF inflows and a more dovish policy outlook—continues to provide a floor.” With leverage flushed out and monetary easing approaching, Mena projects bitcoin could climb to $150,000 before year-end.
Much depends on the Federal Reserve and expectations that the US central bank will continue easing monetary policy. In its Beige Book released Wednesday, a summary of economic conditions across the Fed’s 12 regional banks, the central bank reported signs of growing weakness in the labor market, suggesting market anticipation of rate cuts at both of its remaining policy meetings this year remain on track.
Fed Chair Jerome Powell avoided specifics on rates during remarks Tuesday but acknowledged “softness” in the labor market, reinforcing the market’s belief that further policy easing is on the table.
Combined spot and derivatives volumes fell 17.5% in September, continuing a four-year seasonal trend
- Trading activity falls 17.5% in September slowdown: Combined spot and derivatives volumes dropped to $8.12 trillion, marking the first decline after three months of growth. September has now seen reduced trading volume for the fourth consecutive year.
- Open interest reaches record high despite derivatives market share decline: Total open interest surged 3.2% to $204 billion and peaked at an all-time high of $230 billion during the month.
- Altcoins on CME outperform as Bitcoin and Ether futures decline: While CME’s total derivatives volume remained flat at $287 billion (-0.08%), SOL futures jumped 57.1% to $13.5 billion and XRP futures rose 7.19% to $7.84 billion. BTC and ETH futures fell 4.05% and 17.9% respectively.
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Coinbase launched The Blue Carpet, then added BNB to its roadmap — an intent signal, not a guarantee — pending market-making support and technical readiness.
- Coinbase introduced “The Blue Carpet,” a consolidated listings experience with direct access to its listings team, asset-page customization, referral discounts and select Coinbase One seats.
- Thirty-three minutes later, Coinbase added BNB to its listing roadmap; roadmap inclusion is not a guarantee and trading will start only after liquidity and technical criteria are met, with a separate launch notice.
- The signal is notable because bnb anchors the BNB Chain tied to Binance, Coinbase’s fiercest rival; listing remains free and does not require issuers to purchase ancillary services.
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