Morning news: Bitcoin breaks $86,000, oil prices go down and continue to buy

The Morning Brief is a daily newsletter written by Tyler Warner. Its analysis and opinions represent his personal views only, not necessarily those of Decrypt. In addition to this, you can follow its daily news program "FOMO HOUR", which covers the day's highlights and market dynamics.

GM!

Today's news: The world is turning upside-down. . . . "

Mainstream crypto-assets rebound from recent gains, with bitcoin trading at $85,300

ZEC and HYPE hit new all-time highs

Bitcoin cash ETFs with net inflows of $715 million, Ethereum ETF with $162 million

CME to launch Bitcoin Cash and Uniswap futures on October 19, both with higher prices

Robinhood Crypto announces new actions related to stock tokens, the rise of the eco-token collective Robinhood Chain

Bitcoin touches $86,000, oil falls and ETFs are trading

Bitcoin broke $86,500 for the first time on Tuesday, up about 14 percent from a week earlier, propelling its total crypto market cap back to $3 trillion. A one-day net inflow of $999 million was seen in live bitcoin ETFs on Monday. 97 out of 100 tokens above market value have collapsed over the past seven days and there has been an apparent turnaround.

With the strength of Bitcoin, Ethereum touches $2,750, SOL rises to $120, HYPE, ZEC and VVV all set new highs. Even NFT leader CryptoPunks is gaining buyer's interest with a floor price breaking $90,000.

Wall Street was also active. The Nasdaq Composite Index closed Monday with a record high of 2.26% in one day, its best single-day performance since June; Intel gained 12%, AMD 10% and surpassed $1 trillion market capitalization. Chip stocks continued their rally on Tuesday to set the longest consecutive record since April.

The fall in oil prices also played a role. Iran has reportedly offered to reopen the Strait of Hormuz within days if Washington eases pressure, with Brent crude once dropping below $98 and WTI at $93, its lowest since September 8. Trump told the United Nations General Assembly that he expects an agreement soon after mid-November elections, while Saudi Arabia is scrambling to restart the pipeline by this weekend.

The SEC and CFTC are providing clarity on market structure beyond the CLARITY Act. The tokenization boom is still in its early stages, with Robinhood CEO Vlad Tenev demonstrating that a stock token-related infrastructure could be built within weeks of Robinhood Chain appearing to take the lead.

It's safe to say that the next crypto bull market may have already begun. ...

Macroeconomics and markets

Mainstream crypto-assets fell this morning: Bitcoin was down 0.3% to $85,300; Ethereum dropped 1% to $2,720; SOL flat at $117; HYPE level at $95; ZEC up 7% to $1,620.

The leading crypto-currencies were BCH (+26%), ZRO (+21%), TIA (+15%) and UNI (+12%).

Oil fell 2% to $91; gold slipped 0.1% to $4,340.

U.S. stock futures fell slightly due to higher yields: Dow -0.2%, Nasdaq -0.3%.

CME will go online on October 19 with Bitcoin Cash and Uniswap futures (pending regulatory review), offering standard and micro contract specifications, becoming its tenth and eleventh single-asset crypto contracts.

Lummis said that Democrats' hostility to Trump's bribery instinct has overwhelmed their willingness to pass the Clarity Act, while confirming that Gillibrand and Alsobrooks have expanded from 300 pages of good faith legislation in negotiations to more than 600.

The CFTC warns that speculative trades are at high risk of manipulation and can only be offered in limited circumstances, and lists four factors traders must weigh before taking such contracts online.

Kalshi's sampling data shows that a repeat trade volume of about $5,499 accounts for 57% of its ETH perpetual contract turnover, while the combined two-packages of $2,500 and $5,000 account for 54% of Bitcoin perpetuals.

The SEC has submitted to the White House Office of Management and Budget (OMB) proposals for crypto trusteeship that would cover broker-dealers and investment firms, allow institutions to custody nonsecurity class crypto assets without requiring special registration, and confirm that investment advisors can use state-chartered trusts.

Coinbase is building an anti-quantum custody solution for its approximately $250 billion in assets, using a programmable HSM that will be compatible with any signature algorithm Bitcoin may adopt in the future.

Blade published a white paper titled The Machine-Native Economy of Silicon, noting that AI entities will require machine-native settlement networks and naming stablecoins as the most likely frontrunners while proposing tokenization rights to compute power built into tradable, collateralized assets.

Corporate Treasury and ETFs

Bitcoin ETFs had net inflows of $715 million on Tuesday, followed by Ethereum's at $162 million and SOL's with $29 million.

21Shares listed Europe's first Zcash ETP on the Euronext Paris and Amsterdam stock exchanges, along with an ETHFI offering that was both physically backed at 2.5% per annum. A month earlier, Grayscale had just launched a Zcash eTF in the United States.

Watching the meme

Pengu and Bonk led the way with DOGE up 2%, SHIB flat, PEPE down 4%, PENGU up 15%, TRUMP up 1%, SPX down 5%, BONK up 12%.

Robinhood Chain's eco-tokens increased by 10% and 30% respectively: Pons +10% to $480 million in market capitalization; AI+10% to $270 million; Cashcat -1% to $165 million; Boner +25%, Meme +33%, Musebook +60% and Shroom +60% led.

Solana ecological growth was led by SI +250%, Jeanphil +190%, OTC +90%, GP +65% and Ember +28%; Ansem -1% with a market capitalization of $170 million.

Tracking of hashed tokens and void protocols

In terms of on-chain agreement revenue, Hyperliquid led the way with $2.37 million, followed by Pump at $1.29 million, Stonk at $1.2 billion and Pons at $37.8 million.

For the first time, Near's Confidential Intents TVL surpassed its public TVL.

Dynamics of the NFTs

NFT faucets are back in full swing, with Punks leading the way: +6% to34 ETHBAYC +3% to6.85 ETHPudgy +3% to3.52 ETHWhat is it?

Identity MD ((+13%) and Milady ((+20%) led the way; FWAIR PFP surged 70% to3.7 ETHWhat is it?

CryptoPunks has seen 37 transactions in the last 24 hours, with a floor price of $1.99.34 ETHWhat is it?

Jack Butcher credits as writer0.03 ETHThe price of the first floor has reached Rs.760 ETH(Total supply of 120,000 units)

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