See the full story in the original article.
Read the original on CoinDesk ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
BTC/USDT
▲ Likely positiveBitcoin
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/28/2026 | 81,343.50 |
| Change that session | +0.54% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Here's Why I'm Buying Bitcoin Right Now
Bitcoin rose more than 40% in the third quarter and has drawn renewed attention from top investors, though it remains down 37% from its all-time high of $126,000 reached in October 2025. The author cites a JPMorgan Asset Management forecast of 10% annualized gains for Bitcoin over the next decade, versus 7.5% for stocks, 6% for bonds and 5.5% for gold. He argues Bitcoin's lack of correlation with major asset classes can help diversify portfolios during stock downturns, and that institutional adoption has grown since 2021 through ETFs, treasury companies and corporate holdings, with sovereign governments a possible next source of demand. Even if Bitcoin's price gains are less dramatic, he says he is comfortable with it becoming a more mainstream asset, and that he is focused on buying it right now.
- 4M Bitcoin Bought Above $85K Could Cap Recovery: Glassnode
Glassnode says about 4 million BTC held by long-term holders were bought between $85,000 and $118,000, mostly in 2025, while Bitcoin trades near $81,400. The average price U.S. spot Bitcoin ETFs paid is $81,500 according to Glassnode, leaving ETF holders near break-even. Analysts say the $84,000–$85,000 band has turned prices back several times, and a rally toward that level could prompt long-term holders to sell to break even. The Fed held rates at 3.75% to 4.00% in a 10-2 vote, while the 10-year Treasury yield sat just under 5%. ETF inflows picked up to about $424 million from Monday to Wednesday, but Tim Sun of HashKey argues the core issue is insufficient new buying rather than panic selling.
- Crypto Market Today, Oct. 28: Bitcoin and Altcoins Gain as Fed Decision Clears the Way for Big Tech Earnings
As of early evening on Oct. 28, Bitcoin rose 0.52% to $81,220.35, Ethereum rose 0.68% to $2,363.24 and Solana rose 1.33% to $102.60. The Federal Reserve held its rate at 3.75% to 4% as expected, but said inflation remains elevated and future hikes remain possible. Investors are now focused on earnings from Alphabet, Microsoft and ServiceNow after Wednesday's close, with Amazon and Intel reporting Thursday; disappointing results could weigh on market sentiment. Spot Bitcoin and Ethereum ETFs traded firmer, with IBIT up 0.96%, FBTC up 1.01% and ETHA up 1.07%, but the article says sustained ETF inflows would be needed to show the market is stabilizing.
- Wall Street's Fast Money Fled Bitcoin ETFs, Sovereign Funds Stepped In
Galaxy Research says a handful of hedge funds and banks drove almost all institutional selling of U.S. spot Bitcoin ETFs, while wealth platforms and sovereign funds bought. Holdings reported by institutions in 13F filings fell 14%, from 355,000 BTC at the end of September 2025 to 307,000 BTC by June 2026. Nine firms, including Millennium Management, Goldman Sachs and Tudor Investment, cut 68,000 BTC, roughly $5.4 billion at current prices, while Morgan Stanley's wealth management arm, Mubadala and the Abu Dhabi Investment Council were among the buyers. Galaxy says the sellers were mainly running cash-and-carry trades rather than betting on Bitcoin, as the front-month futures basis averaged 4.8% annualized in the 30 days to Oct. 21, just 0.6 points above Treasury bills, down from 7.9% before the all-time high. Since the June low, the funds have added 87,000 BTC, which Galaxy calls directional buying.
- Morning Minute: Robinhood Misses, But Crypto Beats and Robinhood Chain Soars
Robinhood posted record revenue of $1.42 billion and EPS of $0.51, both slightly below expectations, while crypto revenue of $120 million beat forecasts, rising 20% from the prior quarter though still 55% below a year earlier. Trading volume reached $50 billion, while event contracts revenue rose to $173 million on a record 16.4 billion contracts traded. Robinhood Chain, launched July 1, generated more 30-day rolling fees than Ethereum or Base by late August, prompting management to say it will ramp up investment, and leading tokens in its ecosystem rose 20-50%. Across the market, major cryptocurrencies gained 2-4% ahead of the FOMC meeting with BTC at $81.3k, while bitcoin ETFs drew $176 million in net inflows.
- More than half of circulating Bitcoin has no identified owner
According to Galaxy's latest figures, about 11.1 million BTC, or 55% of total supply, has no identified owner, which may include self-custodied holdings or unidentified institutions. Galaxy's research head Alex Thorn said this suggests self-custody remains common, while Xapo Bank argued the unidentified wallets reflect individual investors who have been in the market for over a decade. Some of these coins may be permanently lost, while others could belong to funds, companies and OTC desks that have not been identified. The remaining 45% of supply has been attributed, including exchanges, BlackRock-led ETFs and the US government. The largest identified holder is Satoshi Nakamoto, with over 1.1 million BTC, estimated at nearly $91 billion at current market price.
Related markets
Latest news
- OpenAI Cuts Funding Target Amid Meta, Microsoft Offerings, Anthropic IPO
OpenAI is reportedly seeking to raise $20 billion at a $1.25 trillion valuation. The move comes as Meta and Microsoft have just raised funds and an Anthropic IPO looms.
- Rocket Lab Reports Nov. 9. Here's What I'd Need to See Before Buying the Stock.
Rocket Lab will report third-quarter results after the close on Monday, with management forecasting revenue of $250 million to $265 million, up 61% to 71% year over year. Shares trade near $58, about 61% below their record close in late May, after the company said its Neutron rocket will not make its first flight until 2027. The author says the key signals are progress on replacing the forward dome of the first-stage propellant tank and whether first-quarter 2027 testing stays on schedule, since Neutron is tied to profitability. Adjusted EBITDA loss narrowed from $26.3 million in the third quarter of 2025 to $8.8 million in the second quarter, but third-quarter guidance calls for a loss of $17 million to $23 million, and adjusted gross margin is expected at 35% to 37%, down from 41.5%. The author says he would consider a small position if the report shows Neutron on track and a loss near the better end of guidance, and would hold off if either slips.
- $10,000 Invested in Robinhood at Its IPO Would Be Worth About $27,160 Today
Investing $10,000 in Robinhood stock at its IPO closing price would now be worth roughly $27,160, though the shares opened near $38 and closed the first session at $34.82. The stock hit an all-time high of $152.46 in October 2025 and is now down roughly 38% from that peak as the crypto market pulled back. Robinhood trades at about 37 times this year's expected earnings and 16 times expected sales. In the third quarter, sales rose about 12% year over year to $1.42 billion, but adjusted EPS fell 3% to $0.60 as operating expenses climbed 16%, and the full-year operating expense target was set at $2.675 billion to $2.75 billion, with the top end cut by $25 million. The author says prediction markets and new products are growth drivers, and that stronger sales, earnings, and a crypto valuation rebound could lift the valuation further.
- Golden Dome Is a $185 Billion Program, but Anduril Is Private. Here Are the 3 Public Companies Building It.
The Golden Dome missile defense program is projected to cost around $185 billion, and the Congressional Budget Office estimates maintenance and sustainment could reach $1.2 trillion over 20 years. Because Anduril is privately held, the article highlights Lockheed Martin, RTX, and Northrop Grumman as public defense companies positioned to benefit. Lockheed makes PAC-3 MSE and THAAD interceptors under 7-year contracts and is adding 2 million square feet of facilities, while RTX converted agreements worth $70 billion into undefinitized contract actions. Northrop provides tracking satellites and solid rocket motors and received a $1.6 billion contract from Lockheed in the third quarter. The companies say their agreements include recovery remedies and downside protections if funding changes, and the article argues the program offers a multi-decade revenue stream.
- Jamie Dimon warns US savers about Washington’s ‘heroin’ effect — it could crush you. Here’s how his bank protects itself
JPMorgan Chase CEO Jamie Dimon, speaking at the Economic Club of Chicago, warned that government spending is inflationary: it boosts corporate profits and makes people feel good, but that feeling can prove painful later. Treasury Department data cited show the U.S. spent $7.40 trillion in fiscal 2026 while collecting $5.40 trillion, a $1.99 trillion deficit, up $217 billion from fiscal 2025. Dimon said the problem is not one piece of legislation but years of overspending, and that JPMorgan prepares for scenarios such as a 40% stock price drop. The article notes U.S. consumer prices have risen 29.8% since the start of 2020, and that $100 in 2026 has the purchasing power of $11.65 in 1970. It also covers gold, up 125% over five years, and real estate, where the S&P Cotality Case-Shiller U.S. National Home Price NSA Index rose 84% over ten years, presenting both as inflation hedges while noting high home prices and the work of managing tenants as drawbacks.
- European Commission reveals proceeds from €180 billion of frozen Russian assets
Of about 300 billion euros of Russian assets frozen by the EU and G7, roughly 180 billion sit at Euroclear, and the European Commission says it has received about 8 billion euros in proceeds from them since 2024, including 1.4 billion euros in August. It received only “a significant part” of the proceeds, suggesting Belgium taxes this income at rates that could reach 30%, according to Le Soir. The EC argues the interest is legally usable because the money “does not belong to Russia,” while a Belgian legal source told TASS this is equivalent to saying bank deposit interest does not belong to the account holder. In December 2025, Russia’s central bank sued Euroclear in the Moscow Arbitration Court for 18,200 billion rubles (225.5 billion USD), amid EU plans to use the assets to support Ukraine. On May 15, 2026, the court ruled in favor of the central bank and ordered Euroclear Bank to pay, and on May 20 the bank asked the court to enforce the ruling immediately.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.