ilqdty daily2 min readRead the latest
jpmorgan is moving JPM Coin onto ethereum, on a bank network that has already moved $4 trillion
SourceThe Block
spot bitcoin ETFs saw about $910M leave in two weeks (Decrypt), and i'm following the bank.
| Markets | Level | 24h | week |
|---|---|---|---|
| $BTC | 82,181 | +0.1% | +0.5% |
| $ETH | 2417.8 | +0.4% | -1.1% |
| $SOL | 104.4 | +0.3% | -1.2% |
| BTC.D | 60.2% | ||
| F&G | 59 greed |
01Crypto4 stories
- nine companies, broadcom and verizon among them, told OKX and ICE they object to tokenized versions of their shares@CoinDesk
- a wallet asleep since 2013 moved 411 bitcoin, about $34M, bought at $131 a coin@CoinDesk
- spot bitcoin ETFs are down $615M for october so farDecrypt
- qubic halted its chain after an attacker drained $1.4M from 1,400 wallets with weak seed phrases@Cointelegraph
02Macro3 stories
- gulf crude shipments fell to 8.5M barrels a day, from over 20M, as attacks around hormuz pile upReuters, citing Kpler
- iran's security chief threatened a new operational plan after two more tankers were hitCNBC
- anthropic set aside 5% of its shares for a new public benefit fundTechCrunch
03Trends4 stories
- on solana, pumpfun took $1.74M of fees in a day and the ten trending coins traded $39M between them
- hyperliquid's perps exchange took $19.9M of fees in seven days and passed polymarket US at $19.2M. over 30 days polymarket is still aheadDefiLlama fees
- on bsc, the launchpad flap sh out-earned axiom, the trading app, two days running: $703K against $679K in a dayDefiLlama fees
- $PIERRE on solana went from $9.7K to $1.51M in nine hours (bitcoincom news) and sits at $1.3M, +42829%. $UHI ran +28151% to $0.9M and $Mimi +13352% to $0.4M behind it
04Today3 stories
- china put out its third-quarter growth figure plus september retail sales and factory output overnight
- the fed is in its quiet period before the october 27 and 28 meeting, so no fed speakers all week
- meta reports tuesday or wednesday after the close. its $130B to $145B spending range is the number the AI trade cares about
05My view
the two biggest banks in america spent the last week putting money movement on public rails. wells fargo did it for cross-border payments, and now jpmorgan picked ethereum. banks plan in years, and the ETF flows of two weeks don't show up in that kind of decision.
the prices agree more than the headlines do. bitcoin finished the week up, every other major closed it red, and fear and greed climbed back into greed. people are calm about bitcoin and careful with everything else, which is a healthy mood after a run.
the risk i'm tracking is oil. gulf shipments are where they are and iran is promising more, so friday's flash PMIs, the first read on october business activity, are the date that matters. if they come in weak and the ETF selling keeps going, i was early on the banks. i honestly can't tell yet who is doing that selling.
until friday, the people building are the bigger signal.
quiet fed week, earnings from tuesday. lock in.