bitcoin cryptocurrency chart

Photo by Cryptoinzicht on Unsplash

Table of Contents

📈 Quick market open snapshot

We started the session around 108.5, roughly 1.3 percent lower than yesterday. It looks nastier than it really is—Bitcoin is only about 1.4 to 1.5 percent down from yesterday. Perspective matters: we are not in full-blown panic territory.

Market open with Bitcoin price shown on screen

🧾 FOMC, Powell and the hawkish surprise

Jerome Powell used unusually strong language at the latest Fed press conference. Markets had been pricing in a near 90 percent probability of a December rate cut. After Powell pushed back hard, that December cut probability plunged to about 68.8 percent.

That shift alone put a chill through markets—yesterday was green across the board until the press conference. The reaction was immediate and meaningful: investors sold into the fear. There was no urgent need for such hawkish rhetoric. It felt political, a push-back against pressure to cut faster. Either way, Powell’s tone moved markets, and that is the dominant macro story right now.

Powell speaking during the press conference

🤝 Trump and Xi: a rare earths breakthrough

On a much more positive note, the Trump-Xi two-hour meeting delivered a short-term win: a one-year deal securing rare earth supplies for the U.S. That’s huge for tech and defence supply chains.

Why one year? Likely a nudge from China to encourage the U.S. to bulk up its own sources and coordinate with partners. For the next year, pressure on rare-earth-dependent sectors eases. In return China gets tariffs rolled back—Trump scrapped the 100 percent tariff planned for November and reduced fentanyl-linked tariffs by 10 percent. China also restarted buying soybeans. All told, this avoids a prolonged trade war and is a clear positive for the market tone.

Trump meeting with President Xi shown in news footage

☢️ Strange headlines: nuclear testing order

There was another eyebrow-raising headline: an order to resume nuclear weapons testing. The U.S. has not conducted a live test since 1992. Testing nuclear devices today sends geopolitical risk signals and just adds uncertainty—and uncertainty is a market mover.

News headline referencing nuclear weapons testing order

🤖 AI, earnings and the jobs debate

AI continues to reshape corporate decisions. YouTube/Google reported strong earnings, Meta also had solid results but took a very large one-time tax-related charge that spooked markets. Microsoft also reported a sizable charge tied to AI initiatives. Amazon recently laid off thousands, YouTube offered buyouts, and other companies are trimming headcount as AI changes the labour equation.

My view: expect structural changes in employment. I’ve said before and I’ll reiterate—over the next decade we will see meaningful job displacement from AI. A conservative estimate is an extra 1 percent unemployment per year in the U.S. from automation pressure, compounding over time. That is not doom-saying, it is planning for structural economic shifts.

Headlines for YouTube, Meta and Microsoft earnings

💧 ETF flows and the power of Powell’s words

Powell’s comments sparked large flows out of crypto funds. We saw a $471 million outflow day—yes, even BlackRock had outflows, which is notable. Ethereum also had negative flows, though smaller than Bitcoin’s. Meanwhile some alt-specific ETFs held up: Solana’s Bitwise product added $47 million, and a Grayscale Solana product debuted with sizable funding.

Key takeaway: ETF flows are now a major piece of crypto price dynamics. Big inflows into smaller-cap chains can have outsized price impacts because of lower market caps and token supplies.

🧭 Michael Saylor, nation treasuries and Bitcoin adoption

Michael Saylor remains vocally bullish—calling $150,000 a year-end target and even longer-term targets that are eye-popping. Michael’s personal holdings and MicroStrategy’s cumulative purchases make him one of the most influential figures in Bitcoin adoption.

We are also seeing countries consider Bitcoin reserves. Germany and France have expressed interest in starting Bitcoin treasuries; France reportedly wants to buy up to 2 percent of supply. Institutional adoption, nation-level interest and the proliferation of spot ETFs mean Bitcoin’s utility and recognition are growing beyond price speculation.

Michael Saylor interview screenshot

📉 October performance, options flow and not-so-bad data

Despite doom-and-gloom chatter, October is not the disaster some make it out to be. With two days to go, Bitcoin is down only about 3.4 percent for the month. That is not a collapse—far from it. Open interest is very high at record levels and traders are long calls; there were about 140,000 $140,000 call options on Deribit, indicating many participants still expect a big year-end move.

Also interesting: after the last several FOMC meetings Bitcoin dipped modestly then went on to make new highs. June, July, and September all followed that pattern. If history rhymes, dips after Fed events could be buying opportunities rather than the start of a sustained breakdown.

Bitcoin monthly performance snapshot with percent down in October

🪙 Altcoins, retail selling and the retail panic narrative

Many alts are suffering more than Bitcoin today. Retail selling is loud—panic chat messages, threats to leave crypto, mass dumps. I don’t think this is purely whale manipulation. Retail gets scared, they sell, and alts with higher concentration and less liquidity get hit hardest. That is why I keep saying: allocate at least 50 percent of a risk portfolio to Bitcoin for stability.

Some alt stories are still solid—Solana ETFs took in money and keep showing demand—but retail behaviour is the short-term swing factor.

Live chat showing retail panic and questions about ETH and SOL

🎯 Projects and product notes: Clash, tokenised stocks and ETFs

On the community token front, Clash continues to be strong. We raised a sizable community treasury quickly and are running tournaments with prizes. If you are in the Clash community, we are seeing genuinely organic momentum rather than influencer-driven shilling.

Other product notes:

  • Ondo has listed 100+ tokenized US stocks on BNB Chain—useful for overseas exposure to big tech equities.
  • 21Shares is pushing new ETF products, including some focused on liquid DEX tokens. There may be more ETF applications than real Wall Street demand, but the product diversity reflects crypto’s maturation.
  • Mastercard acquired Zero Hash in a big crypto play, signaling traditional finance still wants in.

Clash treasury announcement screenshot with fundraising total

⚠️ Practical note: swapping Clash and the Base Wallet warning

A heads up for traders: swapping for Clash on Base Wallet can route you to a fake token. Prefer Jupiter, Phantom, Meteora, Pump.fun and other listed venues. If you use a Base Wallet swap, double-check the contract address first. Safety first—always verify token contracts before swapping.

❓ Frequently asked questions

Why did markets drop after Powell’s press conference?

Powell used firmer-than-expected language that pushed back on market expectations for a December rate cut. That surprised traders who had priced a high probability of a cut, prompting immediate selling across risk assets.

Is the Trump-Xi rare earths deal good for crypto?

Directly it is not a crypto story, but it reduces geopolitical and supply-chain risk for tech industries, which can improve market confidence broadly. Less uncertainty is generally positive for risk assets, including crypto.

Are ETF flows driving crypto prices now?

Yes. ETF inflows and outflows have become a major price mover. Big institutional ETFs can create significant demand or supply, especially for smaller-cap chains where liquidity is lower.

Should I panic about October’s performance?

No. With two trading days left, Bitcoin is only down about 3.4 percent for the month. Historical patterns show post-FOMC dips have often led to new highs soon after. Maintain a plan: DCA, diversification, and a Bitcoin-heavy allocation if you want stability.

Will AI kill a lot of jobs?

AI will displace roles over time. Expect structural changes and job compression in certain areas. Plan for it: upskill, reposition to higher-value tasks, and be realistic about the transition timeline.

Is Clash a viable community project?

Clash has demonstrated strong organic community support and a funded treasury in a short time. Like any community token, it carries risk, but the organic engagement makes it stand out among meme/community projects.

🔚 Final takeaways

Powell’s hawkish press conference reset market expectations and created short-term volatility. That same day, the Trump-Xi meeting produced a tangible, positive one-year rare earths deal. In crypto, ETF flows, open interest and nation-level interest in Bitcoin are now structural forces shaping price. Retail panic is pressuring alts more than Bitcoin. History suggests FOMC dips can be buying opportunities.

My practical advice: keep perspective, keep a Bitcoin-heavy allocation for stability if that fits your plan, and DCA into winners. Volatility will continue; history shows recovery and fresh highs often follow these dips.

Full Disclaimer: This blog and its contents are for informational purposes only and do not constitute an offer to sell or trade, a solicitation to buy, or a recommendation for any security, cryptocurrency, or related product, nor does it constitute an offer to provide investment advice or other related services by theprimenews.co.uk. theprimenews.co.uk may have a financial investment with the cryptocurrencies discussed in this blog. In preparing this blog, no individual financial or investment needs of the viewer have been taken into account nor is any financial or investment advice being offered. Any views expressed in this blog were prepared based upon the information available at the time such views were written. Changed or additional information could cause such views to change.

 

 

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