From Decrypt · By Tyler Warner
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. And check out our daily news show 'FOMO HOUR' covering all of the top stories and market action.
GM!
Today’s top news:
Crypto majors cool over the weekend; BTC at $80.2k
BTC ETFs close week with $300M net inflows despite outflows Thurs+Fri
Solana trading bot Bloom was exploited for $947k; team promising reimbursement
Big week ahead with RH earnings Tues, FOMC Weds and Q3 GDP + PCE data
Pump announced a $2.5M Squads competition kicking off today and running 2 weeks
BitcoinBTC · USD$80,514−2.53%Oct 19Oct 21Oct 23Oct 24Oct 26$84.8k$83.1k$81.3k$79.6k24h HighHigh$80,82524h LowLow$79,332VolVol$807.5M→Buy Bitcoin with USDTPowered by JupiterPrice data by CoinGeckoCoinGeckoMore Bitcoin news and projections →Bitcoin Breaks Below $80,000 as Iran Fears Hit the Weekend
Bitcoin slid below $80,000 this weekend after the Wall Street Journal reported Saturday that the U.S. is rapidly evacuating personnel from embassies and military bases across the Middle East. In a Friday memo to Secretary of State Marco Rubio, Director of National Intelligence Jay Clayton wrote that “Iran has substantially increased efforts to target U.S. personnel.” The evacuations go well beyond earlier reports of diplomatic staff being pulled from Saudi Arabia.
BTC currently sits at $80,160, down 2.4% on the week. Ethereum fell 3.8% to $2,322, Solana 3.2% to $101 and the broader CMC20 index is off 2.3%.
Over 30 days, Bitcoin is down 4.8%. The majors around it average down 16.5%, more than three times as much. Ethereum off 13.6%, Solana 17.1%, XRP 17.4%, Hyperliquid 17.4%, Dogecoin 22.3%.
There is some positive. Zcash is up 8% on the week while everything else bled, and sits up 135% on the year. Monero is up 37%. Privacy is still catching a bid, in a week when the lead story is governments evacuating people ahead of attacks.
And we have a big week ahead. The Fed decides its next move with interest rates Wednesday at FOMC with Kevin Warsh’s press conference after, the ECB follows Thursday and the Bank of Japan Friday. Q3 GDP and September PCE data land on Thursday, the same day Coinbase and Strategy report after the bell.
Arguably more important than those above, at least for onchain, is the Robinhood earnings call on Tuesday the 27th. Will Vlad and crew address the tokenized stock pushback? Will they mention Robinhood Chain and its memestonk ecosystem? Will they launch a builders grant program? Big questions to answer, and ones that will likely decide the near-term future of that ecosystem.
And of course, U.S. midterms are eight days away. Expect another volatile week…