Market report for traders
đź”® BTC, ETH, and Altcoins
Over the last 7 days, Bitcoin ends at AU$168,311 moving -3.51% at the time of writing. Meanwhile, Ethereum ends at AU$6,010 moving -5.5% week-on-week. On the Altcoin side, Solana -6.51%, Dogecoin -3.90%, and XRP -2.28% change.\ \
🗞 What’s happening in the news?
đź•Š Trade Tensions Ease as Trump Confirms Summit With Xi
US President Donald Trump confirmed he will meet Chinese President Xi Jinping at the APEC summit in Seoul on October 31, boosting crypto market sentiment. Bitcoin gained around 2%, with Ether and BNB up 3.5% each, and Solana’s SOL rising nearly 4%, according to TradingView. Trump’s change in tone followed earlier tariff threats that had erased 99% of value on some altcoins and triggered AU$30.8 billion (USD$20 billion) in liquidations — the largest crypto derivatives wipe-out in history. Analysts from The Kobeissi Letter expect only a short-term market dip, noting the long-term bull trend remains intact.
🏦 Japan Considers Letting Banks Trade Bitcoin and Digital Assets
Japan’s Financial Services Agency (FSA) is reviewing a proposal to allow banks to acquire and hold digital assets such as Bitcoin for investment purposes, according to the Yomiuri newspaper. The reform would let banks trade cryptocurrencies in the same way they handle stocks and government bonds, while adding rules to protect financial stability. The FSA is also considering registering banking groups as cryptocurrency exchange operators to make investing easier for customers. This move would reverse Japan’s 2020 guideline that stopped banks from holding crypto and comes as the nation faces a debt-to-GDP ratio of about 240%, one of the highest in the world.
🧠U.S. Lawmakers to Meet Industry Leaders as Crypto Bill Stalls
Leaders from the blockchain and digital asset industry are set to meet with up to 10 Democratic senators this week to discuss the long-delayed U.S. market structure legislation. The talks aim to resolve disagreements over DeFi policy language and restart momentum on a bill that would establish a regulated framework for digital asset markets. A spokesperson from Chainlink said, “Dialogues like this are critical to making this a reality.” Mannar Hanna, a former general counsel for Senator Tim Scott, added, “The United States Senate will do their job,” while acknowledging that completion of the bill may extend into next year.
📖 What we’ve been reading
Trump Family Has Already Made Over $1 Billion in Profit on Crypto, Says Eric Trump
President Trump's family has already secured north of $1 billion worth of profits on crypto businesses, Eric Trump estimated, amid criticism over conflicts.
Quantum Computing Is 'Biggest Risk to Bitcoin,' Says Coin Metrics Co-Founder
Nic Carter says quantum computing is bitcoin’s biggest risk, explaining how spending exposes public keys and urging developers to plan post-quantum defenses.
Bolivia’s new president backs blockchain to tackle government corruption
Bolivian President-elect Rodrigo Paz plans to use blockchain for public procurement and include crypto in asset declarations for a new fund.
*Disclaimer: The information provided is for educational purposes and does not constitute financial product advice. You should obtain independent advice from an Australian financial services licensee before making any financial decisions.*
