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Crypto is starting to catch a bid as risk comes back on. Global equities are climbing, vol is fading, and money is rotating back into the high-beta corners of the market. What helped flip sentiment to start the week was a Wall Street Journal report that Trump’s been quietly exempting dozens of products from reciprocal tariffs. Treasury Secretary Scott Bessent added fuel Friday, saying things with China have “de-escalated” and that he’s likely to meet Chinese Vice Premier He Lifeng soon. Taken together, traders are now discounting the threat of that 100% China import tariff slated for November 1.
VIX drifted lower through early Friday as equity futures firmed, another signal that fear is easing for now.
On-chain, corporate wallets aren’t slowing down. Over the last 30 days, tracked holdings are up 8.4% to 4.04 million BTC, per BitcoinTreasuries. That quiet accumulation continues to build a floor.
BTC bounced off its 200-day moving average and is trying to work its way back toward bullish territory. It’s stuck in a resistance band for now, with 116,000 to 118,000 as the upside hurdle. A fade back to 109,500 is possible, but 113,500 is the near-term magnet if this push holds.
Chainlink’s been a standout lately. Strong price action has tracked with renewed on-chain accumulation, a string of new institutional deals, and Chainlink Labs’ latest push into real-world asset infra.
Earnings season kicked off last week with a few financials, but the next few days carry more weight. Netflix reports Tuesday after the close, Tesla’s up Wednesday, and Intel rounds it out Thursday. A strong start to Q3 earnings and a decent shot at a Fed rate cut later this month are giving the market something to work with.
In other news, AWS had a major outage Monday, knocking out a long list of top-tier websites. Not directly crypto-related, but a good reminder of the infra risks still lurking in Web2.
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This research is for informational use only. This is not investment advice. Other than disclosures relating to Secure Digital Markets this research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate.
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