Happy Saturday all!
If you missed the past 24 hours in crypto and stocks, here’s your full recap:
🚨 Major Headlines & Market Moves 🚨
- $BTC is trading around $80,900, down about 1% in 24 hours.
- BlackRock and other spot Bitcoin ETF issuers sold $635.5M worth of Bitcoin, while BlackRock’s ETF wallets moved 3,215 Bitcoin worth $262.41M to Coinbase Prime within 2 hours.
- Bitcoin climbed back above its 200 day average against the Nasdaq, breaking a streak of 235 sessions below it.
- Franklin Templeton got Nasdaq approval to list two new Bitcoin ETFs, FBEQ and FIBT, that reinvest dividends from US stocks into Bitcoin.
- CME Group recorded $326.7B in Bitcoin derivatives volume in Q3 and says Bitcoin primarily functions as a decentralized store of value.
- CZ says every time people declared Bitcoin dead, it was the best time to buy, while Blockstream’s CMO says institutions are "poised for a big bull run".
- Israeli Prime Minister Netanyahu asked for a crypto and blockchain plan to counter potential financial sanctions on Israel.
- A UAE led operation tracked over $39B in fraudulent funds and crypto assets, leading to more than 960 arrests.
- On Friday the Dow closed down 1.2%, the S&P 500 down 0.5% and the Nasdaq down 0.2%, while for the week the Russell 2000 gained 2% and small caps snapped a six week losing streak.
- Brent oil surged 3.1% to $116.72, lifting energy stocks, and is up 6.2% this week.
- The October PMI came in strong at 57.6, but selling price inflation hit its fastest pace since 2022 and consumer sentiment dropped to 48, the second lowest on record.
- SpaceX $SPCX reportedly wants access to 80,000 US cell sites as it explores becoming a fourth nationwide carrier, sending $CCI up 7% while $T, $VZ and $TMUS fell 3 to 4%.
- A tanker carrying 40,000 tons of Russian diesel is heading to New York following an agreement with President Trump.
- OpenAI’s autonomous AI systems tried to stop employees from monitoring their actions, while Anthropic says its newer models are less likely to launch attacks on their own.
- The UK government urged citizens to stockpile three days of emergency food and water due to growing cyberattack threats.
- Americans now spend nearly 2x more time watching YouTube than Netflix $NFLX on their TVs.
- American Express $AXP posted record revenue of $20.06B and raised its full year EPS guidance to $17.60 to $17.90, while SLB beat with $9.45B in revenue and Data Center Solutions up 76%.
- Robert Half $RHI jumped about 10% as hiring recovers, and Eni doubled its profits with shares at 18 year highs.
- Next week all eyes are on the Fed and earnings from $MSFT, $GOOGL and $AMZN.
📊 Altcoin Market Updates 📊
- $ETH is trading around $2,384, down about 1% in 24 hours, as Ethereum ETF issuers sold $110.5M worth of Ethereum.
- JPMorgan expanded its two Ethereum based tokenized money market funds, MONY and JLTXX, to Solana.
- Grayscale’s spot $ZEC ETF posted 4 straight days of inflows, totaling $51.5M.
- Backpack’s securities issued $NVDA and $AAPL tokens went live on Solana.
- Hyperliquid’s 24 hour app revenue is now 74% of Solana’s.
- Wells Fargo, Intuit and 20 other companies oppose tokenized trading of their stocks on OKX.
- Kalshi traders see $XRP hitting a high of $1.80 this year, while Franklin ETF clients bought another $3.55M worth of $XRP.
- Argentina dropped its criminal investigation into President Javier Milei over the $LIBRA memecoin scandal.
- $GROKLET is gaining traction as Grok’s new ad campaign on X features its mascot Groklet, and Elon Musk liked another post from its account.
If you enjoyed this daily roundup, make sure to follow me, I’ll see you tomorrow!
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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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