BTC is currently trading around $61,500 and ETH around $2,400. Notable gainers in the last 24 hours are AERO, RENDER, and BEAM. The global crypto market cap is $2.24T, up 2.2% over the last day. DeFi Total Value Locked is ~$82b and BTC dominance is around 58%.
Equity and crypto markets are higher after a better than expected US jobs report is easing fears of an economic slowdown. Specifically, nonfarm payrolls grew by 254,000 jobs in September, well above the 150,000 consensus, while the unemployment rate fell to 4.1%, also below expectations. That said, average hourly earnings came in higher than expected, increasing 4.0% over the last year.
Notable news includes: the IMF urged El Salvador to strengthen its regulatory framework and oversight of Bitcoin; Japan’s new Digital Transformation Minister hinted that he will push for crypto tax reform; crypto payments firm BCB Group was allegedly the subject of an FCA investigation; Kraken obtained regulatory approval from Bermuda to launch a derivatives platform; Bitcoin miner Terawulf sold a $92m stake in a mining facility to reinvest the proceeds into an HPC/AI data center; a new HBO documentary claimed to have uncovered the identity of Bitcoin creator Satoshi Nakamoto; and, Polymarket bettors believe the documentary will name Len Sassaman as Satoshi.
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Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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