ilqdty daily2 min readRead the latest
spacex and tesla are exploring a merger that would put 30,221 bitcoin on one balance sheet
Source@CoinDesk
tesla reports after the bell tonight, so the first questions land within hours.
| Markets | Level | 24h | week |
|---|---|---|---|
| $BTC | 83,312 | +0.4% | +2.0% |
| $ETH | 2451.7 | +0.1% | +1.3% |
| $SOL | 106.3 | -0.2% | +2.0% |
| BTC.D | 59.6% | ||
| F&G | 63 greed |
01Crypto4 stories
- jpmorgan's asset management arm published its first bitcoin forecast: 10% a year for a decadeThe Block
- switzerland approved its first spot bitcoin ETF for retail investorsThe Block
- microsoft, alphabet and goldman joined the companies objecting to tokenized shares on okx and ice, now 16 issuers in totalDecrypt
- the drift exploiter moved 25,700 ETH, about $61M, into tornado cash in two hours@Cointelegraph, citing Lookonchain
02Macro3 stories
- uk inflation jumped to 3.5% in september from 3.1%Office for National Statistics
- brent touched its highest since mid-may, then slipped to about $109Investopedia
- spacex's AI unit nearly tripled revenue to $7.56B in its first public quarterFortune
03Trends3 stories
- on solana, pumpfun took $2.08M of fees in a day and the ten trending coins traded $87M between them
- $Kimchi did $54.5M of that volume and sits at a $29.3M cap, +257083%. $Dacity ran +130% to $12.6M, while yesterday's runner $Pokémon gave back 48% to $0.6M
- pumpfun, the solana launchpad, out-earned uniswap v4 on ethereum and unichain over seven days, $13.4M against $10.6M. over 30 days uniswap is still aheadDefiLlama fees
04Today2 stories
- after the US close: tesla, meta, IBM and lam research report, and meta opens the big tech earnings run
- tomorrow 8:30 ETUS weekly jobless claims, the only regular labor reading this week, with the fed staying quiet before its october 28 decision
05My view
the big money kept moving toward bitcoin this week, in daylight. jpmorgan's fund arm put a yearly number on it for the first time, and swiss savers can now buy it through a regular ETF. if the merger happens, those coins sit inside one of the most watched companies on earth. i can't tell yet whether it's a real plan or just talk.
rates are the risk i keep checking. the ten-year sits at 5.12% this morning and uk inflation just went the wrong way. high-yield spreads widened 61 basis points in 30 days, and crypto has usually followed credit within days. friday's flash PMIs, the first business surveys since oil went above $100, show whether that pressure is reaching companies.
buyers still have the edge, and the plainest evidence is the fear and greed gauge climbing 8 points overnight with yields this high. my read flips if meta can't show the AI spending paying off tonight, after the nasdaq's worst week since june.
earnings night, then claims. lock tf in.