COIN360 6 minutes reading from Bitcoin

Crypto Market Rebounds, $BTC Rises, Bitcoin Cash Drops, NFT Pulls Lawsuit

0/ Despite the tech stocks' decline, the crypto market had a rally with BTC closing its best month since July.

BTC then retraced at the start of the week of Oct. 25 - Nov. 1 due to the impact od the FOMC meeting.

Big-cap cryptos contributed to the comeback of 1T market cap.

1/ ETH closed October with a 16% rise between Oct. 25-31. SOL ADA AVAX also saw double-digit gains since last Tuesday.

BNB (+16%) had an outstanding week as it reached ATH for the BNB/BTC pair as the result of @Binances role in @ElonMusk’s">@ElonMusks @Twitter takeover.

2/ The market is pricing in an 86% probability of 75 bps.

If there are no unexpected moves from the Fed, which means Powell remains hawkish, the market still tends to see volatility with massive short-lived selling pressure right after the press conference.

3/ The recovery then comes in the form of a gradual comeback or immediate bounce.

Investors should prepare for volatility in the upcoming weeks. Notable events in the first eight days of November include payrolls, the US midterm elections, and crypto giants' Q3 earnings reports.

4/ DOGE (+134%) saw its 1st wave of surge begin when @ElonMusk changed his Twitter bio to "Chief of Twit."

On Halloween, Musk shared a pic of his dog wearing a T-shirt with a Twitter logo, which was translated to a "possible @Twitter integration for DOGE" as per crypto Twitter.

5/ DOGE surpassed ADA SOL to be the 8 biggest coin by market cap.

SHIB (+30%) was saved from a bearish streak thanks to this memecoin rally. Earlier in October, @shibtoken introduced its collectible card game.

ELON (+81%) soared 200% between Oct. 25-29 but then retraced.

6/ SAND rose 20%+ in the past 7D to reach a 1.3B market cap, making it to the 44 cryptocurrency by market cap on @Coin360com

@gucci became the first luxury brand to build its own store within @TheSandboxGame’s">@TheSandboxGames digital real estate platform, which powered the price surge.

7/ Halloween Special, a part of Sandbox Alpha Seasons promotion campaign, helped drive the number of visitors to its highest level in more than a month.

In 7D, the number of unique active wallets interacting with @TheSandboxGame smart contracts grew by 28% to 4,600 (@DappRadar).

8/ Earlier in October, @TheSandboxGame and @decentraland faced skepticism after @DappRadar reported that each firm has <1,000 "daily active" users, despite 1B valuations.

Trading volume of metaverse tokens is also near ATL. It's a question if SAND MANA can overcome the bears.

9/ @COIN360com is glad to introduce the beta version of our NFT market visualization!

You can get a quick snapshot of the top NFT collections by volume and customize your view using various data filters, with market data from @Rarible

Try it out now:

NFT Heatmap – Coin360

10/ Notable news:

@Metas metaverse losses top 9.4B for the year:

Bitcoin miner @Core_Scientific issues bankruptcy warning and the stock is down 97% for the year:

Meta’s metaverse losses top 9.4 billion for the year
Bitcoin miner Core Scientific issues bankruptcy warning and the stock is down 97% for the year

11/ @ArgoBlockchain shares fall 50% as BTC miner faces negative cash flow:

38% of US voters will consider candidates' position on crypto in midterms:

India cenbank to start pilot of digital rupee on Nov 1:

Argo Blockchain shares fall 50% as Bitcoin miner faces negative cash flow
38% of US voters will consider candidates’ position on crypto in midterms: Survey
India cenbank to start pilot of digital rupee on Nov 1

12/ @Google launches cloud node engine service for @Ethereum developers:

Bankruptcy judge advances probe into whether @CelsiusNetwork operated as Ponzi scheme:

Google Launches Cloud Node Engine For Ethereum Developers - Decrypt
Bankruptcy Judge Advances Probe Into Whether Celsius Operated as Ponzi Scheme

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