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Phemex Crypto Market Daily: BTC Steadies Near $82.7K After Fed Hold & MiCA Deadline (Oct 30)
Key Takeaways:
1. Macro Environment The Fed held rates at 3.75-4.00%, with two dissenters favoring a hike; December odds sit near 80%. Q3 GDP beat forecasts at 3.4%, yet PCE inflation stayed elevated at 3.6%. Midterm elections and Strait of Hormuz oil shocks shape risk sentiment, while regulatory news adds crypto tailwinds. 2. Crypto Market Markets traded mixed over the past twelve hours as BTC steadied near $82,717 (flat) and ETH hovered around $2,439 (−0.1%). The hawkish Fed hold earlier liquidated longs below $80K before ETF inflows aided recovery. Altcoins diverged sharply: privacy led gains, with XMR +5.9% on whale accumulation, while NEAR slumped −13.6% after its Anthropic pre-IPO perp launch and AAVE fell −3.6% despite Chainlink's RWA deal. HYPE gave back ground to $78.73 (−2.5%) following its ICE partnership spike, and PUMP rose +4.0% on Hyperliquid derivatives integration. 3. Today's Outlook Coinbase enforces its MiCA deadline today, auto-converting restricted stablecoins like USDT into USDC for EEA retail users. Bitcoin's whitepaper anniversary falls tomorrow, Oct 31, likely sparking community celebration and media attention. Traders should watch US midterm results next week and China's PMI Saturday for macro direction.Phemex Crypto Market Daily: Crypto Market Daily Report - Market Analysis & Insights (Oct 29)
II. Industry Updates:
1. Coinbase set an Oct. 30 EEA deadline for non-MiCA stablecoins, auto-converting USDT, DAI and PYUSD to USDC, pressuring regional liquidity. 2. Utah filed 14 criminal charges against Kalshi's founders; the CFTC sued the state, escalating a federal-versus-state prediction-market jurisdiction fight. 3. Galaxy applied to the OCC for a national trust bank charter, aiming to unify custody, staking and trading under one federal framework. 4. Thailand's Supreme Court ruled Bitcoin qualifies as property under criminal law, strengthening theft prosecution and investor-protection confidence in Asia. 5. Thirty-three of sixty firms opted out of OKXICE tokenization under the SEC exemption, while DTCC launched its regulated tokenized-securities service. 1. Hyperliquid (HYPE): +14.31% to $91.11 as NYSE owner ICE partners with Trade[XYZ] on Oct 29 to build a CFTC-regulated US perpetual futures venue using Hyperliquid infrastructure, which already processed $650B in volume. 2. Ethena (ENA): +6.98% to $0.2078 with $497.8M daily volume against $4.96B TVL, riding renewed synthetic-dollar demand and Standard Chartered's $2 price-target coverage for the USDe protocol. 3. Canton Network (CC): +6.14% to $0.1021 after Canton Foundation granted RedStone 15.8M CC (~$1.52M) on Oct 29 to develop open-source privacy-preserving pricing software for institutional RWA trading. 1. U.S. spot Bitcoin ETFs recorded $137.33 million in net inflows on October 28, extending a three-day positive streak to roughly $423.66 million, with BlackRock's IBIT absorbing $136.01 million of the total. 2. Strategy bought zero bitcoin during the October 19-25 week and instead spent $204.9 million repurchasing its STRC preferred shares, while still holding 848,517 BTC at an average cost near $75,446 per coin. 3. Strive Inc. added 6,182 BTC between October 17 and 23, bringing its treasury to 43,000 coins worth over $1.2 billion after spending roughly $335 million on October purchases funded by a $630 million preferred-share offering. 4. An unidentified whale sold 1.02 million Solana tokens worth approximately $104.3 million across five days, adding selling pressure as SOL slipped below the $100 level. 5. Tron founder Justin Sun accumulated about $51.25 million worth of PEPE, equivalent to 2.82% of total supply, over a ten-day period, while dormant whales moved 2.27 trillion PEPE valued near $10.19 million. . Oct 29 (Thu) US Q3 GDP, core PCE and weekly jobless claims; ECB rate decision and Lagarde press conference. . Nov 6 (Fri) Hyperliquid: 180,000 HYPE unlocks ($14.4M), team distribution begins.
