Bitcoin Faces CME Gap Ahead of Historically Strong October
Crypto Market Overview
- Bitcoin is up 2.5%, with a CME futures gap between $110,000 and $111,335. Gaps often get filled, suggesting potential price retests.
- Ether has gained 3.4%, with a futures gap around $4,000. Similar to BTC, it's expected to retest lower levels.
- CoinDesk 20 Index rose by 3.2% in the past 24 hours, with all members in positive territory.
- Macro markets focus on the U.S. jobs report due Friday, expecting 39,000 new nonfarm payrolls alongside a 4.3% unemployment rate.
Upcoming Events
- Crypto:
- PancakeSwap discontinues support for Polygon zkEVM liquidity pools and Perpetual V1 orderbook on Sept. 29.
- Macro:
- Sept. 29: Fed Governor discusses "Payments" in Frankfurt.
- SEC and CFTC host a roundtable on regulatory harmonization efforts.
- Token Events:
- Lido DAO votes on Lido V3 upgrade, voting ends Sept. 29.
- Anoma (XAN), Ronin (RON) buybacks, Falcon Finance (FF) listings occur on Sept. 29.
Market Movements
- BTC at $112,164.29 (+2.49%)
- ETH at $4,136.88 (+3.38%)
- Gold up 0.76% at $3,838.10; Silver up 0.73% at $46.99
- Major stock indices showed mixed performances; Nikkei down, Hang Seng up significantly.
Derivatives and Trading Activity
- BTC futures open interest declined to $29 billion from $32 billion, indicating reduced trader exposure.
- BTC funding rates turned negative, showing bearish sentiment, especially on Hyperliquid.
- Coinglass data shows $350 million in liquidations within 24 hours, led by ETH ($130 million) and BTC ($52 million).
Technical Analysis
- ETH rebounded above $4,000 but faces resistance near $4,210. Short-term trend remains downward.
Recent Developments
- Swift plans a blockchain ledger for real-time payments, collaborating with over 30 banks using Consensys technology.
- Revolut considers a $75B dual listing in New York and London, boosting London's financial market presence.
