Fed Rate Cut and France's Bitcoin Reserve Proposal Shape Crypto Market

I. Crypto Market Overview

Key Takeaways

Macro Environment

The US Federal Reserve cut rates by 25 basis points to 3.75%-4.00%, boosting liquidity but signaling uncertainty for further cuts. France's proposal for a national Bitcoin reserve could elevate BTC's sovereign status and institutional demand. Ongoing US data blackout and persistent inflation in Australia and the Eurozone add to global market volatility.

Crypto Market

The crypto market saw mild declines as Bitcoin fell 1.57% to $110,490 and Ethereum dropped 1.46% to $3,918, pressured by cautious risk sentiment post-Fed rate cut. Altcoins showed mixed performance: FET rose 2.74%, SOL gained 0.24%, and ARB edged up 0.90%, while meme and privacy coins led sector gains, driven by ecosystem news and ETF flows.

Today's Outlook

Today, the ECB interest rate decision and the US Q3 GDP advance estimate will be released, both likely to impact global risk sentiment and crypto market volatility.

Fear and Greed Index

54.00% Annual Percentile

39 Neutral

Total Crypto Market Cap

$3.74T

1.22%

Total Market Trading Volume

$167.13B

3.74%

Altcoin Season Index

90.91%

Quarterly Percentile

33 / 100

Total Futures Market Open Interest

3.40B

0.68%

Futures

874.58B

1.61%

Perpetuals

II. Industry Updates

Macro-economic Policies

The US Federal Reserve cut its benchmark interest rate by 25 basis points to 3.75%-4.00%, citing a cooling labor market and persistent inflation. This move increases liquidity and may support risk assets, including Bitcoin and DeFi, but Fed Chair Powell signaled that a further cut in December is not guaranteed, adding uncertainty to crypto market sentiment.

France's National Assembly debated a proposal to create a national Bitcoin Strategic Reserve, targeting up to 2% of total BTC supply. If implemented, this policy could boost Bitcoin's status as a sovereign asset and drive institutional demand, potentially impacting BTC price and global crypto adoption.

The ongoing US government shutdown has delayed key economic data releases, complicating monetary policy decisions. This data blackout increases market uncertainty and may lead to higher volatility in both traditional and crypto markets, as investors lack clear macro signals.

Australia's Q3 CPI rose to 3.2% year-on-year, above expectations, reducing the likelihood of a near-term rate cut by the Reserve Bank of Australia. Persistent inflation may limit AUD liquidity and affect crypto market flows from the region.

The European Central Bank is expected to keep rates unchanged at its upcoming meeting, as Eurozone inflation remains contained. This policy stability may limit EUR volatility and maintain current risk appetite in crypto markets.

Cryptocurrency Regulatory Trends

Australia's financial regulator ASIC now requires stablecoin and wrapped token providers to obtain licenses, aiming to enhance user protection and compliance. This move increases regulatory clarity and may boost institutional participation in the Australian crypto market.

Fidelity has updated its S-1 filing for a spot Solana ETF, removing the delaying amendment and signaling progress toward SEC approval. This regulatory step could increase institutional access and liquidity for Solana if approved.

APAC countries are tightening digital asset regulations, with Australia mandating licenses for stablecoin services and Japan launching a government bond-backed stablecoin. These measures align regional standards and may impact cross-border crypto activity.

Norway reported a 30% rise in crypto tax declarations, driven by advanced blockchain tracking and international data sharing. Enhanced compliance sets a precedent for European crypto tax regulation, supporting market transparency and investor confidence.

The stablecoin supply on Ethereum reached a record $184.1 billion, reflecting growing adoption amid increased regulatory scrutiny. This trend highlights stablecoins' integral role in DeFi and the need for robust compliance frameworks.

PUMP.fun (PUMP): PUMP.fun surged 14.7% in 24h, reaching $0.00525 with $532M volume. The rally is driven by strong market activity and recent ecosystem expansion, including a major trading terminal acquisition.

OFFICIAL TRUMP (TRUMP): OFFICIAL TRUMP jumped 14.2% in 24h to $8.45, with $2.54B trading volume. The price spike is fueled by high meme coin demand and increased community engagement on Solana.

Zcash (ZEC): Zcash rose 11.7% in 24h to $357, with $674M volume. The gain is supported by renewed interest in privacy coins and a sustained multi-week rally, with ZEC up over 460% in the past month.

Smart Money Movements

A crypto whale reopened long positions totaling over $275 million in BTC, ETH, and SOL, including 1,030 BTC ($113M), 560,839 SOL ($108M), and 13,419 ETH ($52.45M), despite a $2.02M unrealized loss.

200,000 Ethereum, valued at approximately $780 million, were withdrawn from exchanges in the past 48 hours, indicating a potential shift toward long-term holding or alternative investment strategies.

An ancient Solana whale transferred 200,000 SOL (about $40 million) to Coinbase Prime, with the address originally receiving 222,000 SOL at $1.68 each five years ago.

Solana Company (Nasdaq: HSDT) increased its holdings by 100,000 SOL ($20 million) this month, bringing its total to over 2.3 million SOL, as institutional interest in Solana accelerates.

Bitmain acquired 34,000 ETH, valued at $135 million, from FalconX in a single transaction, highlighting significant whale buying activity in Ethereum.

Events to Watch

Oct 30 (Thu)

ECB interest rate decision; US Q3 GDP growth rate advance estimate released, both events may impact global markets and crypto volatility.

Oct 31 (Fri)

EAT token unlock: 283.7M EAT ($17M, 1.33% supply, 2.52% market cap); US PCE Price Index YoY for September released, key inflation indicator.

Nov 1 (Sat)

Sui token unlock: $653M SUI to enter circulation; EigenLayer token unlock; Sui Network to release 43.96M tokens, all may affect token prices.

Nov 4 (Tue)

THORChain and IoTeX network upgrades; Capx AI CAPX airdrop claim; Spacecoin airdrop S2 snapshot, major technical and distribution events.

Nov 4 (Tue)

Ripple Swell conference and Hong Kong Global Financial Leaders Investment Summit begin, gathering top industry and financial leaders.

Table of Contents

I. Crypto Market Overview

Key Takeaways

Macro Environment

Crypto Market

Today's Outlook

II. Industry Updates

Macro-economic Policies

The ongoing US government shutdown has delayed key economic data releases, complicating monetary policy decisions. This data blackout increases market uncertainty and may lead to higher volatility in both traditional and crypto markets, as investors lack clear macro signals.

Australia's Q3 CPI rose to 3.2% year-on-year, above expectations, reducing the likelihood of a near-term rate cut by the Reserve Bank of Australia. Persistent inflation may limit AUD liquidity and affect crypto market flows from the region.

The European Central Bank is expected to keep rates unchanged at its upcoming meeting, as Eurozone inflation remains contained. This policy stability may limit EUR volatility and maintain current risk appetite in crypto markets.

Cryptocurrency Regulatory Trends

Australia's financial regulator ASIC now requires stablecoin and wrapped token providers to obtain licenses, aiming to enhance user protection and compliance. This move increases regulatory clarity and may boost institutional participation in the Australian crypto market.

Fidelity has updated its S-1 filing for a spot Solana ETF, removing the delaying amendment and signaling progress toward SEC approval. This regulatory step could increase institutional access and liquidity for Solana if approved.

APAC countries are tightening digital asset regulations, with Australia mandating licenses for stablecoin services and Japan launching a government bond-backed stablecoin. These measures align regional standards and may impact cross-border crypto activity.

Norway reported a 30% rise in crypto tax declarations, driven by advanced blockchain tracking and international data sharing. Enhanced compliance sets a precedent for European crypto tax regulation, supporting market transparency and investor confidence.

The stablecoin supply on Ethereum reached a record $184.1 billion, reflecting growing adoption amid increased regulatory scrutiny. This trend highlights stablecoins' integral role in DeFi and the need for robust compliance frameworks.

Trending Tokens

PUMP.fun (PUMP): PUMP.fun surged 14.7% in 24h, reaching $0.00525 with $532M volume. The rally is driven by strong market activity and recent ecosystem expansion, including a major trading terminal acquisition.

OFFICIAL TRUMP (TRUMP): OFFICIAL TRUMP jumped 14.2% in 24h to $8.45, with $2.54B trading volume. The price spike is fueled by high meme coin demand and increased community engagement on Solana.

Zcash (ZEC): Zcash rose 11.7% in 24h to $357, with $674M volume. The gain is supported by renewed interest in privacy coins and a sustained multi-week rally, with ZEC up over 460% in the past month.

Smart Money Movements

A crypto whale reopened long positions totaling over $275 million in BTC, ETH, and SOL, including 1,030 BTC ($113M), 560,839 SOL ($108M), and 13,419 ETH ($52.45M), despite a $2.02M unrealized loss.

200,000 Ethereum, valued at approximately $780 million, were withdrawn from exchanges in the past 48 hours, indicating a potential shift toward long-term holding or alternative investment strategies.

An ancient Solana whale transferred 200,000 SOL (about $40 million) to Coinbase Prime, with the address originally receiving 222,000 SOL at $1.68 each five years ago.

Solana Company (Nasdaq: HSDT) increased its holdings by 100,000 SOL ($20 million) this month, bringing its total to over 2.3 million SOL, as institutional interest in Solana accelerates.

Bitmain acquired 34,000 ETH, valued at $135 million, from FalconX in a single transaction, highlighting significant whale buying activity in Ethereum.

Events to Watch

Oct 30 (Thu)

Oct 31 (Fri)

Nov 1 (Sat)

Nov 4 (Tue)

Nov 4 (Tue)

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