Week-over-week performance:
- BTCUSD: 113,755 / +5.33%
- ETHUSD: 4,079 / +4.94%
- US10Y: 3.97% / -0 bps
- DXY: 98.61 / -0.2%
- GOLD (USD/OZ): 3,959 / -8.55% (!)
- SPX: 6,875 / +2.08%
- NDX: 25,821 / +2.70%
- VIX: 15.80 / -12.32%
Looking ahead – economic calendar:
- Tuesday, 28 October 2025: $SOL,$LTC and $HBAR ETFs starts trading, $NVDA GPU Conference, $PYPL earnings
- Wednesday, 29 October 2025: BoC Interest Rate Decision, FOMC Interest Rate Decision, Earnings ($BA, $META, $GOOGL, $MSFT)
- Thursday, 30 October 2025: Trump meets with Xi at APEC summit, BoJ Interest Rate Decision, US GDP, US Jobless claims, Earnings ($COIN, $AMZN, $AAPL, $RIOT)
- Friday, 31 October 2025: EU CPI, US PCE, Earnings ($CBOE)
- Saturday, 01 November 2025: US retaliatory tariff on Chinese good goes into effect, US Supreme Court hears arguments on broader tariff legality
On the macro side:
Risk assets – including U.S. equities and crypto – are trading higher, while the VIX edged lower. Gold pulled back slightly, and the U.S. dollar remains flat. Trump is currently in Asia for negotiations, with the key focus on his meeting with Xi this Thursday. This will be the first meeting since the start of the new term, and pending the outcome, the setup is already leaning bullish.
This week also brings several central bank decisions on interest rates, with the FOMC meeting scheduled for Wednesday. Fed Funds Futures are pricing in a 25 bp cut with a 98% probability. While the cut is largely expected, Powell’s press conference could be a major market driver.
We are still waiting for the PCE data, and the recent government shutdown has not helped, but last Friday’s lower–than–expected CPI will likely be highlighted as evidence that inflation is cooling – another bullish signal.
All in all, it is shaping up to be a busy week full of catalysts – central banks, macro data, and earnings – but the overall tone remains decidedly bullish.
On the crypto side:
Crypto performs well, roughly doubling the move seen in the Nasdaq. BTCUSD pulled back from resistance around 116,700 and is currently hovering near its 50–day EMA. The downside setup remains more vulnerable than the upside for now, with clear support at USD 106,000 and softer psychological support around USD 110,000.
Futures open interest is recovering, while put dominance has eased. With multiple catalysts ahead, a decisive break above USD 117,000 could attract momentum traders.
ETHUSD remains capped below its 50–day EMA, which acts as resistance near USD 4,250, with support holding around USD 4,000. Momentum has softened, and we expect ETH to continue following BTC on a beta–adjusted basis.
In Altland, Litecoin, Solana, and HBAR are preparing to debut on the US with physical ETFs. While this development is broadly bullish for market structure, questions remain about these products’ ability to attract meaningful inflows.
Nevertheless, it marks an important step toward a broader multi–crypto ETF landscape.
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