Key Takeaways
- • Bitcoin slid below $80,000 over the weekend, trading at $80,160 and down 2.4% on the week, after the Wall Street Journal reported the U.S. is rapidly evacuating personnel from embassies and military bases across the Middle East.
- • Over 30 days, Bitcoin is down 4.8% while the majors around it average a 16.5% decline, with Solana off 17.1%, XRP 17.4%, Hyperliquid 17.4% and Dogecoin 22.3%.
- • Bitcoin ETFs posted $300M in net inflows for the week despite outflows on Thursday and Friday, though they saw $138M in net outflows on Friday alone.
- • Solana trading bot Bloom lost about $947,000 (9,408 SOL) in an exploit, with the team pledging to reimburse 100% of stolen funds.
- • The week ahead is dominated by the FOMC decision on Wednesday, Q3 GDP and September PCE data and the ECB and Bank of Japan decisions, with Robinhood earnings on Tuesday and Coinbase and Strategy reporting Thursday.
Summary
Bitcoin fell 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. According to the report, Director of National Intelligence Jay Clayton wrote in a Friday memo to Secretary of State Marco Rubio that "Iran has substantially increased efforts to target U.S. personnel." The evacuations go beyond earlier reports of diplomatic staff being pulled from Saudi Arabia.
Bitcoin was quoted at $80,160 at the time of reporting, down 2.4% on the week. Ethereum fell 3.8% to $2,322, Solana dropped 3.2% to $101, and the CMC20 index was off 2.3%. Over 30 days, the majors around Bitcoin averaged a 16.5% decline. Zcash was a notable outlier, rising 8% on the week and 135% year to date, while Monero gained 37%. Bitcoin ETFs recorded $300M in net inflows for the week despite outflows on Thursday and Friday, and ether ETFs saw $4M in net inflows on Friday.
The macro calendar is heavy. The Federal Reserve decides on interest rates Wednesday, with Kevin Warsh's press conference to follow, while the ECB meets Thursday and the Bank of Japan Friday. Q3 GDP and September PCE data are scheduled for Thursday, the same day Coinbase and Strategy report earnings. Robinhood reports Tuesday, and analysts are watching whether it addresses pushback on tokenized stocks and the future of Robinhood Chain. Goldman Sachs, per the newsletter, expects global growth to hold broadly stable through 2027 but sees downside risks from higher energy prices, rising bond yields and slowing AI investment. U.S. midterms are eight days away.
On the protocol side, Bloom said attackers drained about 9,408 SOL, worth roughly $947,000, from 49 wallets belonging to nine users by exploiting a third-party module to gain remote code execution, and insisted no private keys were compromised. Hyperliquid led onchain protocols in weekly revenue at $14.74M, followed by Pump at $13.76M. Pump.fun also launched a $2.5M Squads competition running two weeks. Wells Fargo, Cisco, Marvell, Arm, Moderna and Intuit joined companies objecting to tokenized versions of their shares on the OKX-ICE venue, bringing the total to 22 in eight days.
Bitcoin was quoted at $80,160 at the time of reporting, down 2.4% on the week. Ethereum fell 3.8% to $2,322, Solana dropped 3.2% to $101, and the CMC20 index was off 2.3%. Over 30 days, the majors around Bitcoin averaged a 16.5% decline. Zcash was a notable outlier, rising 8% on the week and 135% year to date, while Monero gained 37%. Bitcoin ETFs recorded $300M in net inflows for the week despite outflows on Thursday and Friday, and ether ETFs saw $4M in net inflows on Friday.
The macro calendar is heavy. The Federal Reserve decides on interest rates Wednesday, with Kevin Warsh's press conference to follow, while the ECB meets Thursday and the Bank of Japan Friday. Q3 GDP and September PCE data are scheduled for Thursday, the same day Coinbase and Strategy report earnings. Robinhood reports Tuesday, and analysts are watching whether it addresses pushback on tokenized stocks and the future of Robinhood Chain. Goldman Sachs, per the newsletter, expects global growth to hold broadly stable through 2027 but sees downside risks from higher energy prices, rising bond yields and slowing AI investment. U.S. midterms are eight days away.
On the protocol side, Bloom said attackers drained about 9,408 SOL, worth roughly $947,000, from 49 wallets belonging to nine users by exploiting a third-party module to gain remote code execution, and insisted no private keys were compromised. Hyperliquid led onchain protocols in weekly revenue at $14.74M, followed by Pump at $13.76M. Pump.fun also launched a $2.5M Squads competition running two weeks. Wells Fargo, Cisco, Marvell, Arm, Moderna and Intuit joined companies objecting to tokenized versions of their shares on the OKX-ICE venue, bringing the total to 22 in eight days.
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