Tag Archives: assets

The October 2 U.S. jobs report lands soon. Could it make or break Bitcoin’s rally?

The October 2 U.S. jobs report lands soon. Could it make or break Bitcoin’s rally?

The cryptocurrency sector is moving higher in a coordinated fashion. Bitcoin rose 1.70% to $85,002.11 over the past 24 hours. The total crypto market climbed 1.16% to $2.89T. This advance rests on 2 powerful forces. Institutional optimism and policy progress are working together. The result is a rally that looks more grounded than a purely speculative surge. Digital assets are responding to concrete developments that could reshape how traditional finance interacts with this space.

The primary catalyst arrived on October 1. Citigroup analyst Alex Saunders raised the bank’s base-case Bitcoin forecast to $113,000 from $82,000. Saunders cited renewed ETF inflows and positive sentiment. At the same time, the SEC proposed a tailored custody framework for investment advisers. This framework would allow self-custody under certain conditions. The proposal addresses a key operational hurdle that has limited professional product offerings. These 2 events signal growing Wall Street validation and clearer oversight pathways. They directly boost large-player buying interest. Traders read these developments as evidence that barriers to broader professional participation are slowly coming down.

Market structure data supports the view that this advance is orderly rather than frenzied. Derivatives open interest increased 6.28%. Liquidations fell sharply by 61.8%. That combination points to a controlled move without a leverage flush. Bitcoin dominance held at 58.96%. This stability suggests core assets led the rally rather than speculative altcoins. Social sentiment for Bitcoin remained mildly bullish with a net score of 5.26. Broader social sentiment registered a net score of 5.85. The Fear & Greed Index reading of 68 places the sector in Greed territory. The top-trending narrative is the US Strategic Crypto Reserve, which gained 1.41% over the same period. These metrics paint a picture of steady capital inflow. They do not show forced selling pressure or excessive speculation.

The correlation between this asset class and traditional risk assets deserves attention. Crypto shows an 80% correlation with the Russell 2000 ETF (IWM). This relationship suggests that digital assets increasingly trade in tandem with broader risk sentiment. They no longer behave as an isolated asset class. The implication is significant. Crypto participants must now weigh macroeconomic factors alongside sector-specific developments. The upcoming U.S. jobs report on October 2 looms as an immediate trigger. That report could influence rate expectations and risk appetite across both traditional and digital markets.

From a technical perspective, Bitcoin faces a substantial sell wall between $85,000 and $86,500 on Binance. Traders noted this wall on September 24. The 365-day moving average near $80,000 provides major support. If Bitcoin holds above $83,000, it could challenge the key resistance zone between $85,000 and $86,500. A drop below $82,000 risks a pullback toward the $80,000 support. The path of least resistance remains upward. Progress hinges on absorbing the overhead supply. Whether spot volume expands on a decisive break above $85,000 will confirm genuine buying interest over passive resistance. The key question for the immediate future is whether Bitcoin can close above $85,500 within the next 48 hours. Such a finish would signal a convincing breakout from its recent range.

For the broader crypto sector, the technical picture is equally instructive. The market cap is testing the 23.6% Fibonacci retracement level at $2.85T. Near-term resistance sits at the recent swing high of $2.94T. A hold above $2.85T suggests traders are pricing in the bullish catalyst. A failure here could see a retest of the 50% level at $2.76T. If the SEC’s proposal maintains positive momentum, a test of the $2.94T ceiling is likely. A drop below $2.85T could signal a return to consolidation. The $2.85T to $2.94T range represents the immediate battleground. A close above it could signal a continuation toward $3.03T.

Spot Bitcoin ETF AUM now stands at $111.13B. That figure rose from $110.97B yesterday. This modest but consistent increase aligns with the inflow trend cited by Citigroup. Sustained weekly ETF flow data will be crucial to confirm whether professional capital continues to enter the space at a meaningful pace. The 60-day public comment period on the SEC’s custody proposal will also bear watching. Formal responses from major financial institutions could shape the final oversight landscape. Any softening of large-player backing or negative policy surprises could quickly alter the current trajectory.

My point of view is that this rally rests on more durable foundations than previous speculative surges. The combination of a major bank’s endorsement and proactive policy clarity provides a firm foundation for Bitcoin’s latest leg higher. The trading environment is not simply responding to hype. It is responding to concrete shifts in the institutional and policy landscape. The alignment between Bitcoin’s strength and the broader market’s uptick suggests a healthy dynamic in which core assets lead rather than lag. This sector remains vulnerable to macroeconomic shocks, particularly from the upcoming jobs report. The 80% correlation with the Russell 2000 ETF suggests that any risk-off sentiment in traditional markets could quickly spill over into crypto.

The near-term outlook is cautiously optimistic. A tangible reduction in policy uncertainty anchors the uptick. That reduction could unlock new professional capital. Positive sentiment and Bitcoin’s leadership provide a supportive backdrop. The key question for the week is whether the sector can convert this policy goodwill into a sustained breakout above $2.94T. For Bitcoin specifically, the challenge is whether it can absorb the sell wall at $85,000 to $86,500 and establish a new range. If these technical barriers fall, the path toward $113,000 as forecast by Citigroup becomes more plausible. If they hold, the market may need to consolidate further before attempting another leg higher. The next 48 hours will be critical in determining which scenario unfolds.

 

Source: https://e27.co/the-october-2-us-jobs-report-lands-soon-could-it-make-or-break-bitcoins-rally-20261002/

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author. The latest book is Web4: The Age of Autonomous Intelligence.

www.anndy.com
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Bitget Restarts Bitcoin Withdrawals After Hacker Uses Thorchain

Bitget Restarts Bitcoin Withdrawals After Hacker Uses Thorchain

(MENAFN– Crypto Breaking) Crypto exchange Bitget has begun restoring customer withdrawals after a security breach last week exposed parts of its hot and warm wallet infrastructure. The incident impacted assets totaling about $388 million, and Bitget said the attacker has continued moving stolen funds through THORChain.

Bitget suspended withdrawals following the breach, then announced on Monday that it is resuming them in stages. According to the exchange, BTC withdrawals restarted first, with Ether (ETH ) and Tether’s USDt (USDT) scheduled to follow as security checks progress.

Key takeaways

    Bitget resumed Bitcoin (BTC ) withdrawals Monday after suspending withdrawals following a breach reported in connection with assets later estimated at roughly $388 million. Bitget says the compromise involved portions of its hot and warm wallet setup, while cold wallets remained secure. ETH and USDT withdrawal resumption is planned for Tuesday and Wednesday respectively, with additional assets and peer-to-peer withdrawals returning later in the week. Bitget’s CEO urged THORChain to refuse services to attacker-linked addresses, but THORChain says its network halt is broad and cannot selectively freeze individual funds.

BTC withdrawals restart as Bitget rolls out staged recovery

Bitget said it restored BTC withdrawals on Monday. In remarks shared during an ask-me-anything session, CEO Gracy Chen explained that BTC was prioritized because the“withdrawal pipeline is the first to be completed.” She also indicated that the exchange would expand withdrawals to other assets once its security review for each step is finished.

Chen further stated that Ether (ETH) and USDT would resume after ongoing security checks. Bitget’s schedule, published in an exchange support notice, outlines when users can expect withdrawals to return across multiple networks.

Under Bitget’s announced timetable, ETH withdrawals are set to restart Tuesday across Ethereum, BNB Smart Chain, Arbitrum, Base, and Optimism. USDT withdrawals are scheduled for Wednesday across Ethereum, BNB Smart Chain, Solana, and Tron. Withdrawals for other assets and peer-to-peer services are slated to return on Friday, with the plan applying to all users.

Bitget also emphasized that the schedule is uniform, with no priority access for institutions, VIP customers, or Bitget employees.

Breach impact revised upward after accounting for additional transfers

The breach occurred on Sept. 24, according to Bitget’s description of what was affected. The exchange said part of its hot and warm wallet infrastructure was compromised, while its cold wallets were not.

Bitget later updated the scope of the stolen amount. The figure was revised from $351.6 million to $387.5 million after the exchange accounted for additional transfers involving Zcash and Tron. The change underscores how incident accounting can evolve as exchanges reconstruct on-chain movement and reconcile internal wallet activity.

THORChain disputes calls for selective freezing

Beyond Bitget’s internal response, the incident has drawn attention to how attackers can continue to convert stolen assets on decentralized venues. Bitget’s CEO said THORChain should refuse services to addresses connected to the exploit.

That request came amid claims that the attacker was swapping Ether for Bitcoin through THORChain. According to monitoring posts referenced from Lookonchain, data reportedly indicated ETH linked to the attacker flowing into THORChain vaults. Arkham data was also cited as showing the attacker-associated ETH entering THORChain infrastructure.

THORChain responded to the situation by describing its actions as an emergency security response that halts the network broadly. In its statement, THORChain said the mechanism“is not a selective freeze of specific funds or an individual swap,” characterizing the halt as affecting the protocol generally rather than targeting particular addresses.

A separate perspective from crypto author Anndy Lian argued that while THORChain can halt trading, stop outbound transactions, or pause a connected chain, it does not include an on-chain blacklist feature that would enable the protocol to block specific addresses. That limitation helps explain why a“selective freeze” request may not be technically aligned with how THORChain’s emergency controls are designed to operate.

What investors and users should watch next

Bitget’s staged withdrawal resumption will be the immediate signal to users, but the next key variable is whether the attacker’s activity through decentralized routes slows as network-wide measures remain in place. Readers should monitor Bitget’s subsequent withdrawal checkpoints for ETH, USDT, and other assets, and watch whether any further protocol-level actions by THORChain or other counterparties emerge as the incident evolves.

 

 

Source: https://menafn.com/1111726293/Bitget-Restarts-Bitcoin-Withdrawals-After-Hacker-Uses-Thorchain

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author. The latest book is Web4: The Age of Autonomous Intelligence.

www.anndy.com
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Did the Fed just accidentally kick off the next crypto bull run? Or just a dead cat bounce?

Did the Fed just accidentally kick off the next crypto bull run? Or just a dead cat bounce?

On September 18, 2026, global markets rose together. Asian stocks and bonds gained as oil extended its decline. European equities climbed. The STOXX 600 rose 0.9 per cent to 642.6 points. Mining and automotive sectors led those gains. The FTSE index gained 1.2 per cent. That marked its best one-day performance in over two months.

The Bank of England halted sales of long-dated gilts. That decision supported UK assets. The crypto market joined the rally. It rose 0.59 per cent to US$2.62T in 24 hours. The Federal Reserve had raised rates by 25 basis points on September 17, 2026. That was the first hike since 2023. Markets had fully priced in the move. The reaction became a relief rally. Investors focused on the end of the tightening cycle rather than the hike itself. That shift in sentiment lifted nearly every risk asset.

The economic backdrop aided risk assets. West Texas Intermediate crude fell 0.7 per cent to US$101.20 a barrel. Cheaper oil reduces inflationary pressure. US 10-year Treasury yields retreated from recent multi-year highs. Lower yields ease pressure on global equities. They also reduce the opportunity cost of holding non-yielding assets such as digital assets and gold. Spot gold remained steady following earlier weekly fluctuations. This combination of cheaper oil and steady bond yields created a helpful climate for digital assets. This macro mix gave traders a reason to add exposure.

The asset class traded as a rates-sensitive instrument on that day. Its correlation with the S&P 500 was 0.43. That is a moderate positive reading. It is lower than the 71 per cent figure that appeared in May of this year. The Bitcoin-gold tie was above 50 per cent at the start of this month. Some short-term gauges reached 0.8. That still shows a meaningful tie, but it is not 79 per cent. These figures indicate a looser connection than some earlier reports suggested. That matters for how investors interpret the advance. It does not mean digital assets ignore macro. It means the link varies with the news cycle. On this occasion, the Fed decision and the oil move mattered more than the usual internal drivers.

Group rotation amplified the market-wide move. The AI Applications category gained 5.83 per cent. The Privacy group rose 3.98 per cent. Independent verification did not directly confirm that exact figure. The broader privacy space has surged 213 per cent since October 2025.

Zcash drove almost all of that rise. Zcash posted a 13 per cent daily advance on September 16. It jumped another 15 per cent on September 17 following the Fed decision. Protocol upgrades and institutional interest fuelled that move. These movements indicate that market appetite extends beyond Bitcoin. Funds are seeking alpha in specialised narratives with strong fundamentals. That broadening of strength across asset classes is a healthy sign. It suggests the advance has a base value greater than one coin.

The near-term path for digital assets hinges on key technical marks. The current market cap sits just above the 50 per cent Fibonacci retracement level at US$2.6T. That mark now acts as support. The immediate trigger for the advance is past. The focus shifts to whether the advance can sustain. A close above the 23.6 per cent Fib threshold at US$2.67T could pave the way for a retest of the yearly high at US$2.73T. Failure to hold US$2.6T risks a pullback toward the US$2.57T to US$2.53T base zone. The 61.8 per cent Fib sits at US$2.57T. A break below that mark could signal a return to range trading.

My point of view is cautiously bullish. The combination of a digested rate increase and strong group rotation points to underlying strength. The market passed its immediate test. It absorbed a rate hike without collapsing. That is a significant signal. I still want to see confirmation.

Bitcoin needs to stabilise. The breadth of smaller coins needs to continue. The advance cannot rely on one group or a single economic event. The Privacy and AI Applications groups show leadership. That is encouraging. They remain relatively small parts of the overall capitalisation. For the advance to challenge US$2.73T, funds need to flow more broadly. I would like to see a weekly close above that pivot before turning more constructive.

I also watch the Ethereum Foundation AMA on September 16 for further sentiment cues. That event could provide insight into developer activity and network upgrades. It may not move prices on its own, but it adds to the narrative mosaic. The digital asset space is increasingly responsive to fundamental developments. That is a maturation story.

The worldwide economic backdrop remains the dominant driver. Cheaper oil and steady bond yields create a supportive climate for speculative assets. The central bank’s increase became a bullish catalyst because markets had already priced it in. The UK central bank’s decision on long-term government bonds added to the calm. Asian equities confirmed the trend. This is a coordinated advance. It is not a digital asset-specific event. That makes it more durable, but also more dependent on economic conditions remaining stable.

If oil continues to decline and yields stay contained, digital assets can test US$2.73T. If oil reverses or yields spike, the US$2.57T floor will come under pressure. The US$2.6T pivot is the line in the sand. Holding above it keeps the positive case alive. Breaking below it shifts the story back to choppy conditions.

In conclusion, the outlook is cautiously bullish momentum. Investors have digested the rate increase. Group rotation is strong. Chart marks are clear. The question now is whether Bitcoin can stabilise and the breadth of smaller coins can continue. Can investors capitalise on this economic clarity to challenge the US$2.73T resistance? I believe they can, but only if the speculative climate remains supportive. The next few sessions will tell us whether this upward move has true staying power or whether it fades into another range phase. I lean toward the former, but I remain watchful.

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author. The latest book is Web4: The Age of Autonomous Intelligence.

www.anndy.com
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