Forex & Cryptocurrency Breaking News

Bitcoin put in a lower high while consolidating gains as favorable RSI signals combine with an expected Federal Reserve interest-rate cut. Key points:Bitcoin begins to find a local floor, with analysis highlighting several key lines in the sand.RSI signals demand upside continuation as longer timeframes remain in doubt.Read more

Solana is stepping up to the “big league” thanks to the approval of the first Solana staking ETF, which may bring wider altcoin adoption among yield-seeking institutions, an analyst said. Investors are closely watching the launch of the first Solana staking exchange-traded fund (ETF), a move expected to inject billions of dollars into Solana and the broader altcoin market.At least three altcoin ETFs are expected to launch later on Tuesday: Bitwise’s Solana (SOL) ETF, Canary’s Litecoin (LTC) and Hedera (HBAR) ETFs, according to Bloomberg analyst Eric Balchunas.The US Securities and Exchange Commission’s (SEC) approval of the first Solana staking ETF is a “transformative” milestone that may attract an additional $3 billion to $6 billion worth of new capital into the altcoin within the first year, according to Bitget exchange’s chief analyst, Ryan Lee.Read more

Metaplanet’s market-based net asset value (mNAV) fell to 0.88 last week, prompting the Tokyo-listed Bitcoin treasury company to launch the Bitcoin-backed share buyback. Tokyo-listed Bitcoin treasury company Metaplanet Inc. unveiled a 75 billion Japanese yen (about $500 million) share repurchase program backed by a Bitcoin-collateralized credit facility, following a decline below 1 of its market-based net asset value (mNAV).In a Tuesday announcement, the company said the move aimed to maximize Bitcoin (BTC) yield per share and restore market confidence as its stock trades below the value of its Bitcoin holdings. The buyback program, approved by the board, allows for the repurchase of up to 150 million common shares, representing 13.13% of total issued shares. The repurchase will run from Wednesday to Oct. 28, 2026, through purchases on the Tokyo Stock Exchange under a discretionary trading agreement.Read more

To promote coordinated development of economy, societyEconomic growth remains within a reasonable rangeDomestic demand continues to play a stronger roleChina’s economic growth potential to be fully releasedTo deepen reforms and continue with high quality developmentTech self-reliance to be greatly improvedTo combine efficient market with proactive governmentTo give full play to role of proactive fiscal policyWill make sure to keep enhancing fiscal sustainabilityTo vigorously boost consumption, drive significant consumption rate among residentsA lot of big words being thrown about in trying to bolster the economy and prop up domestic demand conditions. In the end, it’s a case of having to wait and see. But so far this year, markets have grown more optimistic on China especially as the trade war has been put on hold indefinitely. That said, there’s a lot to do for the government to try and address the issue of flagging demand and aging demographics in the bigger…

Eurostoxx -0.3%Germany DAX -0.4%France CAC 40 -0.3%UK FTSE +0.1%Spain IBEX +0.1%Italy FTSE MIB -0.2%The mood music is more tepid with US futures also showing little enthusiasm in following up the gains from the day before. S&P 500 futures are down 0.1% currently and that’s keeping the optimism to start the week in check for now. All eyes are still on US-China headlines with Trump set to meet with Xi on Thursday. However, do be mindful of month-end flows factoring into the equation as well in the days ahead. That could make things harder to read in wrapping up October trading. This article was written by Justin Low at investinglive.com.

Fundamental OverviewThe USD came under pressure since Friday following the softer than expected US CPI report and then the US-China preliminary deal over the weekend. Overall, the market pricing didn’t change much as it was already very dovish going into the CPI and the trade talks, but given the positive risk sentiment, the greenback continues to stay on the backfoot. The risk-on sentiment is expected to weigh on the dollar in the short-term, although Treasury yields could also erase the drop triggered by Trump’s escalation a couple of weeks ago. This could create some tension between bullish and bearish drivers, but for now there’s no strong reason for the dollar to rally amid the lack of key US data. The Fed tomorrow is widely expected to cut by 25 bps and keep the status quo given the lack of US data. For this reason, the decision is likely to be…

The crypto market, despite experiencing throughout the year major price fluctuations, security incidents, and legal hurdles, has experienced remarkable growth. This can be attributed to the expansion of digital asset treasuries (DATs), increased institutional adoption, and new initiatives aimed at integrating digital assets, particularly stablecoins, into traditional financial sectors. Andreessen Horowitz (a16z) recently shared their projections for the crypto landscape for the remainder of the year and years to come, highlighting nine key trends expected to be major catalysts for the industry. Key Legislative Changes And Institutional Adoption  Firstly, market structure legislation in the US is expected to emerge as a critical priority for policymakers and Congress, establishing a clear regulatory framework that supports crypto developers.  The passage of the GENIUS Act in July of this year also marked a pivotal moment, garnering bipartisan support and providing builders with much-needed certainty in their endeavors. Related Reading: Canary Capital’s CEO Confirms…

Multiple crypto exchange-traded funds (ETFs) are set to launch this week despite the government shutdown, with investment products based on Solana (SOL), Litecoin (LTC), and Hedera (HBAR) seemingly ready to start trading as soon as Tuesday. Related Reading: Crypto Analyst Shows The Possibility Of The Ethereum Price Reaching $16,000 Big Week For Crypto ETFs On Sunday night, Nate Geraci affirmed that the next two weeks will be key for the long-awaited spot crypto-based ETFs as Solana, XRP, LTC, and other ETF filings are “all lined up & ready for launch.” Similarly, Bitwise CEO, Hunter Horsley, hinted that this week would be a “Big week,” suggesting progress related to its Solana Staking ETF. It’s worth noting that the crypto community has been awaiting the US Securities and Exchange Commission (SEC)’s approval of the investment products following the numerous ETF applications filed over the past few months. Between August and September, the…

Despite facing criticism for lagging behind the United States in creating a more accommodating environment for cryptocurrency growth and adoption, China reaffirmed its stringent stance on crypto once again this week.  Authorities issued warnings about the alleged risks posed by stablecoins, particularly amid concerns that the US may have solidified its dollar dominance through these digital assets. US GENIUS Act Vs. China’s Crypto Caution According to local media reports, Pan Gongsheng, governor of the People’s Bank of China, announced plans to expand the use of the country’s central bank digital currency (CBDC), known as the “e-CNY.”  He remarked, “[Stablecoins] are still in their early stages of development,” emphasizing that financial regulators globally remain cautious about these assets, which are typically pegged to other currencies. Related Reading: Digital Yen Goes Live: JPYC EX Integrates Traditional Finance With DeFi In the United States, however, Trump’s policies toward digital assets have resulted in…

The crushing victory of President Milei’s party, La Libertad Avanza, in the Argentine midterms drew praise from President Trump, who said the U.S. made “a lot of money” from his win. The dollar‑peso exchange rate nosedived after the results. Trump Celebrates Milei’s Victory, Says It Made the U.S. ‘A Lot of Money’ After Dollar Plunges […]

Richard Ujueta, president of Cavecom‑e (the Venezuelan Electronic Commerce Chamber), said that because of scarce dollar cash, most payment activity has moved to USDT. He added that banks should implement USDT payments in point‑of‑sale devices by December. Venezuelan Banks Should Adopt USDT by December, Analyst States The Facts: Venezuela is advancing towards a real integration […]

Elon Musk’s xAI just lobbed another moonshot into the information galaxy with Grokipedia — an artificial intelligence (AI)-fueled encyclopedia gunning to give Wikipedia a serious run for its hyperlinks. The platform doesn’t just store facts; Grok claims it hunts them down, checks their pulse, and edits them on the fly. Inside Grokipedia: Elon Musk’s ‘Maximum […]

The GBP/USD forecast recovered briefly as the dollar weakened. The latest UK retail sales and flash S&P Global PMI boosted the pound, reducing the probability of a rate cut by the BoE.  Traders look ahead to the US HPI Y/Y and Consumer Confidence for further impetus.  The GBP/USD price halted its six-day losing streak, trading… The post GBP/USD Forecast: Dollar Weakens Ahead of a Fed Rate Cut on appeared first on Forex Crunch.

The euro maintains a steady position as the greenback weighed down ahead of dovish Fed cut bets.  The softer-than-expected US inflation data reignites hopes for a Fed rate cut this week.  Markets face a delay in key economic releases amid the ongoing US government shutdown.  The EUR/USD outlook holds steady at around the 1.600 level,… The post EUR/USD Outlook: Lacking Conviction Above 1.16, Eyes on FOMC, ECB appeared first on Forex Crunch.

The progressing US-China trade talks subdued gold’s safe-haven appeal. The 3% inflation YoY reinforces hopes for two Fed cuts by 2025. Due to the ongoing Federal government shutdown, the markets face a delay in key data releases.  The gold outlook shows a steep decline, the first in the last five years, as the pair traded… The post Gold Outlook: Under Pressure Ahead of Dovish Fed Expectations appeared first on Forex Crunch.