Fed Rate Cut and Solana ETF Launch Drive Crypto Market Volatility

I. Crypto Market Overview

Key Takeaways

Macro Environment

The Federal Reserve is widely expected to cut rates by 25 basis points and end balance sheet runoff, boosting global liquidity and risk assets. Softer US inflation data has reinforced monetary easing expectations, fueling capital rotation into crypto. A preliminary US–China trade deal has eased global tensions, supporting a weaker dollar and crypto market liquidity.

Crypto Market

The crypto market saw mixed performance over the past 12 hours, with Bitcoin down 1.66% to $112,345 and Ethereum falling 3.63% to $3,980.7, pressured by ETF outflows and risk-off sentiment. Altcoins diverged: PI Network surged 13% to $0.26, Aerodrome Finance rose 9.2% to $0.99, and Official TRUMP gained 5.6% to $7.39, all driven by strong trading volumes and ecosystem momentum.

Today's Outlook

The US Federal Reserve will announce its interest rate decision and FOMC outcome today, with Chair Powell's press conference expected to drive volatility across risk assets. Grayscale's Solana Trust (GSOL) will convert to a spot ETF, expanding institutional access to Solana and potentially impacting altcoin flows.

Fear and Greed Index

56.00% Annual Percentile

42 Neutral

Total Crypto Market Cap

$3.79T

1.55%

Total Market Trading Volume

$173.55B

6.21%

Altcoin Season Index

45.45%

Quarterly Percentile

26 / 100

Total Futures Market Open Interest

3.42B

0.23%

Futures

850.75B

2.00%

Perpetuals

II. Industry Updates

Macro-economic Policies

The Federal Reserve is widely expected to announce a 25 basis point interest rate cut on October 29, which could inject liquidity into global markets and support risk assets such as Bitcoin and DEFI protocols.

Wall Street anticipates the Fed will also end its balance sheet runoff (Quantitative Tightening), a move that would further boost dollar liquidity and potentially drive renewed inflows into digital assets and crypto ETFs.

Recent softer-than-expected US inflation data has reinforced expectations for continued monetary easing, which has already led to increased risk appetite and capital rotation into Bitcoin and other cryptocurrencies.

The S&P 500 reached a record high of 6,790 ahead of the Fed decision, reflecting strong risk-on sentiment that often correlates with higher crypto market activity and increased NFT trading volumes.

A preliminary US–China trade deal has been reached, easing global trade tensions and supporting a weaker US dollar, which historically benefits Bitcoin price and overall crypto market liquidity.

Cryptocurrency Regulatory Trends

The Australian Securities and Investments Commission (ASIC) has updated guidelines to expand financial services laws to cover stablecoins, staking, and tokenized products, requiring many crypto businesses to obtain a financial services license. This move increases compliance costs but may boost investor confidence.

ASIC's revised Info Sheet 225 introduces new custody standards and classifies various digital assets as financial products, aligning with upcoming legislation for digital asset platforms. This regulatory tightening could impact exchange operations and market access in Australia.

Visa announced plans to support payments in four stablecoins across multiple blockchains, with integrated fiat conversion. This regulatory-compliant expansion is expected to drive broader adoption of stablecoins and digital payments, potentially increasing market liquidity.

PI (PI): Surged 15.4% in 24h to $0.265, driven by strong trading volume of $81.9M and renewed user interest after rebounding 67% from its October low.

Aerodrome Finance (AERO): Rose 9.3% in 24h to $0.99, with daily volume up 137% to $104M, fueled by increased liquidity incentives and Base network adoption.

OFFICIAL TRUMP (TRUMP): Gained 5.8% in 24h to $7.40, with trading volume at $1.68B, as speculative flows and meme coin momentum drive renewed market attention.

Smart Money Movements

A whale sold 6,000 ETH purchased at $1,582 for $3,983 each, realizing a $14.43 million profit in the past 24 hours.

A new wallet linked to Bitmine received 27,316 ETH, valued at $108.92 million, in a single transfer facilitated by BitGo.

Sequans transferred 970 BTC worth $111 million to Coinbase, marking its first major outbound transaction since starting its Bitcoin treasury strategy.

American Bitcoin acquired 1,414 BTC for $163 million, increasing its total reserves to 3,865 BTC, and its stock surged over 11% after the announcement.

ZOOZ Strategy Ltd. purchased 94 BTC at $112,000 each, expanding its Bitcoin holdings to 1,036 BTC, now valued at approximately $115 million.

Events to Watch

Oct 29 (Wed)

The US Federal Reserve will announce its interest rate decision and FOMC meeting outcome at 2:00 p.m. EDT; Fed Chair Powell will hold a press conference.

Oct 29 (Wed)

Bank of Canada will release its latest policy decision, with markets expecting a rate cut due to economic softness.

Oct 29 (Wed)

Grayscale's Solana Trust (GSOL) will convert to a spot ETF; Grayscale SOL ETF launches, expanding institutional access to Solana.

Oct 30 (Thu)

European Central Bank will announce its monetary policy decision; Bank of Japan holds a policy meeting, with focus on future rate guidance.

Oct 30 (Thu)

ZORA will unlock 166.7 million tokens; major token unlocks may impact market liquidity and price volatility.

Table of Contents

I. Crypto Market Overview

Key Takeaways

Macro Environment

Crypto Market

Today's Outlook

II. Industry Updates

Macro-economic Policies

The Federal Reserve is widely expected to announce a 25 basis point interest rate cut on October 29, which could inject liquidity into global markets and support risk assets such as Bitcoin and DEFI protocols.

Wall Street anticipates the Fed will also end its balance sheet runoff (Quantitative Tightening), a move that would further boost dollar liquidity and potentially drive renewed inflows into digital assets and crypto ETFs.

Recent softer-than-expected US inflation data has reinforced expectations for continued monetary easing, which has already led to increased risk appetite and capital rotation into Bitcoin and other cryptocurrencies.

The S&P 500 reached a record high of 6,790 ahead of the Fed decision, reflecting strong risk-on sentiment that often correlates with higher crypto market activity and increased NFT trading volumes.

A preliminary US–China trade deal has been reached, easing global trade tensions and supporting a weaker US dollar, which historically benefits Bitcoin price and overall crypto market liquidity.

Cryptocurrency Regulatory Trends

ASIC's revised Info Sheet 225 introduces new custody standards and classifies various digital assets as financial products, aligning with upcoming legislation for digital asset platforms. This regulatory tightening could impact exchange operations and market access in Australia.

Visa announced plans to support payments in four stablecoins across multiple blockchains, with integrated fiat conversion. This regulatory-compliant expansion is expected to drive broader adoption of stablecoins and digital payments, potentially increasing market liquidity.

Trending Tokens

PI (PI): Surged 15.4% in 24h to $0.265, driven by strong trading volume of $81.9M and renewed user interest after rebounding 67% from its October low.

Aerodrome Finance (AERO): Rose 9.3% in 24h to $0.99, with daily volume up 137% to $104M, fueled by increased liquidity incentives and Base network adoption.

OFFICIAL TRUMP (TRUMP): Gained 5.8% in 24h to $7.40, with trading volume at $1.68B, as speculative flows and meme coin momentum drive renewed market attention.

Smart Money Movements

A whale sold 6,000 ETH purchased at $1,582 for $3,983 each, realizing a $14.43 million profit in the past 24 hours.

A new wallet linked to Bitmine received 27,316 ETH, valued at $108.92 million, in a single transfer facilitated by BitGo.

Sequans transferred 970 BTC worth $111 million to Coinbase, marking its first major outbound transaction since starting its Bitcoin treasury strategy.

American Bitcoin acquired 1,414 BTC for $163 million, increasing its total reserves to 3,865 BTC, and its stock surged over 11% after the announcement.

ZOOZ Strategy Ltd. purchased 94 BTC at $112,000 each, expanding its Bitcoin holdings to 1,036 BTC, now valued at approximately $115 million.

Events to Watch

Oct 29 (Wed)

Oct 29 (Wed)

Oct 29 (Wed)

Oct 30 (Thu)

Oct 30 (Thu)

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