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If you missed the past 24 hours in crypto and stocks, here's your full recap:
🚨 Major Headlines & Market Moves 🚨
- BlackRock sold $71.78 million worth of Bitcoin.
- Brent crude oil surged over $111.
- Bank of America warned that the AI investment surge is starting to look like a cycle that could end in a major collapse soon.
- The S&P 500 fell 1.1% on Friday, marking its 20th daily decline of more than 1% this year. This is normal volatility, as the average year since 1928 has seen 29 such declines.
- Nasdaq dropped 2.1%, the S&P 500 fell 1.1% and the Dow declined 0.3% on Friday. Micron and Intel each dropped more than 5% as tech selling accelerated. Nasdaq lost 4.5% this week, its worst week since June. The AI trade had a brutal week.
- During the 2026 fiscal year the US federal government took in $5.4 trillion and spent $7.4 trillion.
- The Fed has failed at its price stability mandate. Since January 2020 consumer prices have risen at a 4% annualized rate, double the 2% target. The CPI is now 14% above where it would be if the target had been met.
- TSMC raised its 2026 growth forecast. Its CEO indicated AI accelerator revenue could grow faster than the previously expected 55% annually through 2029.
- Strategy fell about 6% after MSCI adopted new rules that could exclude Bitcoin treasury firms from its global indexes. The final list is due November 11 and would take effect November 30, creating a risk of forced selling by index funds.
- El Salvador bought another Bitcoin for its Strategic Bitcoin Reserve and now holds 7807 BTC.
- Bitcoin has risen 113% against silver over the past 9 months. Historically this momentum is bullish for Bitcoin.
- Charles Schwab rolled out Schwab Crypto, allowing 40 million clients to buy Bitcoin directly inside their accounts.
- Deutsche Bank is set to launch Bitcoin custody for its clients within weeks.
- The Bitcoin Market Value to Realized Value Momentum Oscillator has turned positive. The signal that has called every cycle bottom just printed again near $83K.
- Strategy will pay daily dividends on STRC in November if shareholders approve on October 28th, with a 12% rate.
- Alcoa jumped about 6% after a strong Q3 as AI demand reaches raw materials such as metals.
- Tesla rose after unveiling the new Roadster, including a SpaceX-assisted version capable of brief flight, with production targeted for 2028.
- OpenAI CEO Sam Altman praised Tesla's new Roadster and said it looks amazing.
- Anthropic said its Claude Mythos AI model designed highly efficient quantum circuits that could bring quantum computing within reach sooner.
- Q3 earnings week recap showed banks splitting, with Goldman Sachs and Citigroup standing out while JPMorgan and Bank of America disappointed. TSMC and ASML delivered strong results yet their shares fell. UnitedHealth beat and raised guidance. Expectations matter as much as the numbers.
📊 Altcoin Market Updates 📊
- BlackRock sold $69.68 million worth of Ethereum.
- Japan's three biggest banks successfully completed their first cross-border stablecoin payment test.
- Visa officially launched stablecoin payments through Visa Direct, enabling near-instant global payouts using USDC across more than 180 countries.
- PumpFun launched crypto perpetual futures trading powered by Hyperliquid.
- Charles Schwab fully launched Bitcoin and Ethereum trading to its 40 million eligible retail clients.
- Papertrade flipped Circle in 7-day revenue. Papertrade is a Hyperliquid-based synthetic perps platform that incentivizes users to lose money.
- Safevano Wallet, the first non-custodial wallet built on Robinhood Chain, burned 15% of its total token supply and reduced the circulating supply to just 5 million tokens.
- CZ questioned whether Solana knows the local policies in China after their Shanghai event was reportedly suspended. A Solana event in Shenzhen was reportedly cleared by police less than a year ago.
If you enjoyed this daily roundup, make sure to follow me, I'll see you tomorrow!
$BTC $SPY $QQQ $OIL $SMH
Written by Timothy Assi, an Elite Popular Investor on eToro.
Not investment advice. eToro is a multi-asset investment platform. Your capital is at risk. For information and educational purposes only.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
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