Crypto markets recover, and on macro watch, the Fed’s Vice-Chair comments on economic outlook expected today
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📈 Bitcoin bounce: BTC hit a 7-day high of $114,700, now steady around $113,500.
💸 Ethereum recovery: ETH is back above the $4,000 mark.
🏛️ XRP ETF speculation: SEC could decide on six spot XRP ETF applications in October.
⚖️ Macro watch: Fed Vice-Chair Jefferson speaks today; markets eye growth, inflation, and rate outlook.
Crypto markets continue their rebound, with the Fear and Greed Index climbing back into Neutral from last week’s Fear. Bitcoin (BTC) is trading around $113,500 this morning after posting a 7-day high of $114,700 yesterday. Ethereum (ETH) is also higher, reclaiming the $4,000 mark, while several large-caps are in the green over the past week.
There’s growing speculation around a mid-October deadline for the Securities and Exchange Commission (SEC) to decide on spot XRP exchange-traded fund (ETF) applications. Six proposals are currently under review, with the SEC possibly giving the yay or nay in two weeks, according to Yahoo Finance.
Meanwhile, global markets are broadly positive despite fresh tariff threats from President Donald Trump, this time targeting foreign furniture. Also looming is the risk of a US government shutdown if lawmakers fail to agree on a budget, which could disrupt economic data releases that markets and the Fed rely on.
Looking ahead, Fed Vice-Chair Philip Jefferson is set to speak on “Monetary Policy Frameworks and the US Economic Outlook” at the Bank of Finland’s International Monetary Policy Conference later today. His remarks could provide insights into the Fed’s thinking on growth, inflation, unemployment, and the outlook for interest rates.
In the markets…
🌍 Total crypto market cap ↗️
The global crypto market cap is approximately $3.9 trillion, up 0.91% from this time yesterday.
🟠 Bitcoin (BTC) ↗️
Price: $113,573 up 1.24% in the last 24 h.
Daily high: $114,762
Daily low: $111,961
📈 S&P 500 ↗️
SPY is currently up 0.26% since yesterday’s close.
📈 Nasdaq 100 ↗️
The Nasdaq 100 is up about 0.44% overnight.
😐 Fear & Greed Index
The Crypto Fear & Greed Index stands at 43/100, in Neutral.
*Data is correct as at 30 September, 08:39 GMT.
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
