“Morning Minute” is a daily newsletter written by Tyler Warner. The analysis and opinions contained within represent solely the author's views and do not necessarily reflect the stance of Decrypt. You may also follow their daily news program “FOMO HOUR”, which covers all headlines and market updates.

GM!

Today's Headlines:

• Mainstream crypto assets fell over the weekend; BTC reported $80,200.
• Despite capital outflows on Thursday and Friday, BTC ETF still ended the week with a net inflow of $300 million.
• Solana Trading robot Bloom attacked, suffering a loss of $947,000; the team promises compensation
• Intense events ahead in the coming week: Robinhood financial reports on Tuesday, Federal Reserve interest rate meetings on Wednesday, as well as third-quarter GDP and PCE data.
• Pump announces the launch of a $2.5 million Squads competition today, which will last for two weeks.

Bitcoin falls below $80,000 due to concerns about the Iranian situation

This weekend, Bitcoin fell below $80,000. Previously, on Saturday, The Wall Street Journal reported that the United States was rapidly evacuating personnel from embassies and military bases across the Middle East. The Director of National Intelligence of the United States Jay Clayton wrote in a memo to Secretary of State Marco Rubio on Friday: "Iran has significantly intensified its actions against American personnel." These evacuation efforts far exceed previous reports of withdrawing diplomatic personnel from Saudi Arabia.

Currently, BTC is trading at $80,160, down 2.4% this week. Ethereum has fallen by 3.8% to $2,322; Solana has dropped by 3.2% to $101; and the broader CMC20 index has also fallen by 2.3%.

In the past 30 days, Bitcoin has fallen by 4.8%. The main altcoins have seen an average decline of 16.5%, which is more than three times that of Bitcoin. Ethereum has fallen by 13.6%, Solana has fallen by 17.1%, XRP has fallen by 17.4%, Hyperliquid has fallen by 17.4%, and Dogecoin has fallen by 22.3%.

There are also some positive signs. In a week when other assets generally declined, Zcash rose by 8% this week and by 135% so far this year. Monero increased by 37%. During the week when the government evacuated people before the attack, privacy-related assets continued to be in high demand.

The coming week is equally crucial. The Federal Reserve will decide on its next interest rate move at the meeting on FOMC on Wednesday, followed by a press conference on Kevin Warsh; the European Central Bank will announce its decisions on Thursday, and the Bank of Japan will follow suit on Friday. Data for the third quarter GDP and September PCE will also be released on Thursday, and on the same day, financial reports for Coinbase and Strategy will be published after the market closes.

At least in terms of the on-chain ecosystem, what may be more important than the aforementioned events is that Robinhood will hold a financial report conference call on Tuesday, the 27th. Will Vlad and its team respond to external doubts about tokenized stocks? Will they mention Robinhood Chain and its meme stock ecosystem? Will they launch a developer funding program? These are all key questions that are also likely to determine the direction of the ecosystem in the short term.

Of course, the U.S. mid-term elections are just 8 days away. It is expected to be another week of increased volatility...

🌎 Macroeconomics, Cryptography, and Markets

• Mainstream crypto assets show a slight weakening; BTC +0.2%, at $80,200; ETH +0.4%, at $2,330; SOL +1%, at $101.5; HYPE +2%, at $77; ZEC +4%, at $1,230
• The top-performing altcoins in terms of increase include QNT (+17%), ENA (+5%), and PYTH (+6%).
• Crude oil falls 2% to $101; gold rises 0.4% to $4,025
• As oil prices fall, stock index futures rise slightly; the Dow Jones Industrial Average gains 0.35%, while the Nasdaq remains flat.
• This week is one of the most significant macroeconomic weeks for the crypto market this quarter: from Wednesday to Friday, we will see interest rate decisions from the Federal Reserve, the European Central Bank, and the Bank of Japan. There will also be data for the third quarter GDP and PCE, as well as financial reports on Tuesday Robinhood and SoFi, and on Thursday Coinbase and Strategy.
• Goldman Sachs expects global growth to remain stable overall until 2027, but it believes that higher energy prices, rising bond yields, and a slowdown in AI investment are accumulating downward risks; at the same time, the bank believes that cooling inflation and increased visibility of AI in employment data mean that central banks will raise interest rates less than expected.
• Wells Fargo, Cisco, Marvell, Arm, Moderna, and Intuit have joined the list of companies opposing the launch of their stock tokenization versions on the OKX-ICE platform, bringing the total number of companies that have expressed opposition in the past 8 days to 22.
• Electrum Fixed a vulnerability: This vulnerability allowed malicious servers to steal funds when users increased transaction fees, as the wallet previously trusted the server's reports of pending transactions without verifying the signatures.

Enterprise funds and ETF

• Bitcoin ETF saw a net outflow of $138 million on Friday; Ethereum ETF experienced a net inflow of $4 million, marking a welcome reversal.

Meme Currency Tracking

• Headlines: meme Currencies experience mixed gains and losses; DOGE +1%, SHIB Flat, PEPE -1%, PENGU +3%, TRUMP +2%, SPX +3%, BONK Flat
• Robinhood Chain Most of the top-tier stocks turned higher after a sharp decline on Saturday; Pons +6%, with a market value of $160 million; AI +8%, with a market value of $59 million; Cashcat Flat, with a market value of $90 million; GF +85%, Bow +20%, Gage +33% leading the gains
• The top gainers include Launch with a +50 times increase, Kimchi with a +70% increase, Dood with a +60% increase, and Claudia with a +50% increase; Stonk has a +13% increase, with a market value of 133 million US dollars.

💰 Tokens, Airdrops, and Protocol Tracking

• This week, the protocol with the highest revenue on the blockchain is Hyperliquid, with earnings of $14.74 million; followed by Pump with $13.76 million, Papertrade with $6.67 million, and Collector Crypt with $5.31 million.
• Solana Trading Bot Bloom indicates that attackers utilized third-party modules to gain remote code execution privileges and transferred approximately 9,408 SOL from 49 wallets belonging to 9 users, amounting to $947,000 in value. The team stated that no private keys were leaked and promised to compensate for the stolen funds in full.
• Pump.fun announces the launch of a $2.5 million Squads competition that starts today and will last for 2 weeks. The top three Squads will receive awards based on PNL and uPNL.

🚚 What's the latest news with NFT?

• NFT Most of the leading stocks rose; Punks Remained flat at 30.7; ETH; BAYC Rose 5% to 6; ETH; Pudgy Rose 3% to 2.56; ETH
• Identity MD rose by 13%, Argonauts rose by 7%, leading the gains.

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