by Coinstrooper Crypto Articles
Quick Take
  • By James Van Straten (All times ET unless indicated otherwise)
  • Bitcoin (BTC), up 2.5% in the past 24 hours, has created a CME futures gap between $110,000 and $111,335.
  • That's the difference between its prices when the CME market closed for the week on Friday and reopened on Sunday.
  • That has gained 3.4% and left a futures gap starting around $4,000.

What Happened

Sept. 29, 8:00 p.m.: PancakeSwap (CAKE) discontinues support for Polygon zkEVM liquidity pools and Perpetual V1 orderbook. Users must withdraw funds by the deadline. MacroSept. 29, 7:30 a.m.: Fed Governor Christopher J. Waller gives a speech on "Payments" in Frankfurt. Sept. 29, 10:30 a.m.: Sept. Dallas Fed Manufacturing Index (Prev. -1.8) Sept. 29, 1 p.m.: U.S. agencies SEC and CFTC hold a roundtable on regulatory harmonization efforts. Watch live. Earnings (Estimates based on FactSet data)Nothing scheduled. Sept. 29, 8:00 p.m.: PancakeSwap (CAKE) discontinues support for Polygon zkEVM liquidity pools and Perpetual V1 orderbook. Users must withdraw funds by the deadline. Sept. 29, 7:30 a.m.: Fed Governor Christopher J. Waller gives a speech on "Payments" in Frankfurt. Sept. 29, 10:30 a.m.: Sept. Dallas Fed Manufacturing Index (Prev. -1.8) Sept. 29, 1 p.m.: U.S. agencies SEC and CFTC hold a roundtable on regulatory harmonization efforts. Watch live. Nothing scheduled. Token Events Governance votes & callsLido DAO is voting on the design and implementation of its Lido V3 upgrade, which among other things introduces staking vaults (stVaults) that allow users to select specific staking operators. Voting ends Sept. 29. UnlocksNothing scheduled. Token LaunchesSept. 29: Anoma (XAN) to be listed on KuCoin. Sept. 29: Ronin (RON) treasury buybacks begin. Sept. 29: Falcon Finance (FF) to be listed on Binance, BingX, KuCoin, Gate.io, Bitget and others.

Sept. 29, 7:30 a.m.: Fed Governor Christopher J. Waller gives a speech on "Payments" in Frankfurt. Sept. 29, 10:30 a.m.: Sept. Dallas Fed Manufacturing Index (Prev. -1.8) Sept. 29, 1 p.m.: U.S. agencies SEC and CFTC hold a roundtable on regulatory harmonization efforts. Watch live. Earnings (Estimates based on FactSet data)Nothing scheduled. Sept. 29, 8:00 p.m.: PancakeSwap (CAKE) discontinues support for Polygon zkEVM liquidity pools and Perpetual V1 orderbook. Users must withdraw funds by the deadline. Sept. 29, 7:30 a.m.: Fed Governor Christopher J. Waller gives a speech on "Payments" in Frankfurt. Sept. 29, 10:30 a.m.: Sept. Dallas Fed Manufacturing Index (Prev. -1.8) Sept. 29, 1 p.m.: U.S. agencies SEC and CFTC hold a roundtable on regulatory harmonization efforts. Watch live. Nothing scheduled. Token Events Governance votes & callsLido DAO is voting on the design and implementation of its Lido V3 upgrade, which among other things introduces staking vaults (stVaults) that allow users to select specific staking operators. Voting ends Sept. 29. UnlocksNothing scheduled. Token LaunchesSept. 29: Anoma (XAN) to be listed on KuCoin. Sept. 29: Ronin (RON) treasury buybacks begin. Sept. 29: Falcon Finance (FF) to be listed on Binance, BingX, KuCoin, Gate.io, Bitget and others.

Nothing scheduled. Sept. 29, 8:00 p.m.: PancakeSwap (CAKE) discontinues support for Polygon zkEVM liquidity pools and Perpetual V1 orderbook. Users must withdraw funds by the deadline. Sept. 29, 7:30 a.m.: Fed Governor Christopher J. Waller gives a speech on "Payments" in Frankfurt. Sept. 29, 10:30 a.m.: Sept. Dallas Fed Manufacturing Index (Prev. -1.8) Sept. 29, 1 p.m.: U.S. agencies SEC and CFTC hold a roundtable on regulatory harmonization efforts. Watch live. Nothing scheduled. Token Events Governance votes & callsLido DAO is voting on the design and implementation of its Lido V3 upgrade, which among other things introduces staking vaults (stVaults) that allow users to select specific staking operators. Voting ends Sept. 29. UnlocksNothing scheduled. Token LaunchesSept. 29: Anoma (XAN) to be listed on KuCoin. Sept. 29: Ronin (RON) treasury buybacks begin. Sept. 29: Falcon Finance (FF) to be listed on Binance, BingX, KuCoin, Gate.io, Bitget and others.

Lido DAO is voting on the design and implementation of its Lido V3 upgrade, which among other things introduces staking vaults (stVaults) that allow users to select specific staking operators. Voting ends Sept. 29. UnlocksNothing scheduled. Token LaunchesSept. 29: Anoma (XAN) to be listed on KuCoin. Sept. 29: Ronin (RON) treasury buybacks begin. Sept. 29: Falcon Finance (FF) to be listed on Binance, BingX, KuCoin, Gate.io, Bitget and others.

Nothing scheduled. Token LaunchesSept. 29: Anoma (XAN) to be listed on KuCoin. Sept. 29: Ronin (RON) treasury buybacks begin. Sept. 29: Falcon Finance (FF) to be listed on Binance, BingX, KuCoin, Gate.io, Bitget and others.

Token Launches

Market Context

Bitcoin (BTC), up 2.5% in the past 24 hours, has created a CME futures gap between $110,000 and $111,335. That's the difference between its prices when the CME market closed for the week on Friday and reopened on Sunday.

The thing about CME futures gaps is that they tend to get filled. With the two largest cryptocurrencies currently trading higher, that means they both — at some point — are likely to drop back and retest those lower levels.

Bitcoin’s monthly low often tends to occur within the first 10 trading days, meaning this dip could arrive within the next two weeks. That's even though October, often referred to as “Uptober,” is historically its second-best performing month with an average return of 22%.

Macro markets are focused on Friday’s highly influential U.S. jobs report, with nonfarm payrolls, a measure of new jobs excluding farm work and certain categories, expected at 39,000 alongside a steady 4.3% unemployment rate. ISM Services PMI is forecast at 52, indicating continued expansion of the world's largest economy.

For bitcoin to break out of its current $110,000 to $120,000 trading range, volatility and sentiment will need to return. The fourth quarter, which starts on Wednesday, could provide the catalyst. Stay alert!

Sept. 29, 8:00 p.m.: PancakeSwap (CAKE) discontinues support for Polygon zkEVM liquidity pools and Perpetual V1 orderbook. Users must withdraw funds by the deadline.

Why It Matters

By James Van Straten (All times ET unless indicated otherwise)

Ether (ETH) is showing a similar setup. That has gained 3.4% and left a futures gap starting around $4,000.

Details

More broadly, the CoinDesk 20 Index has gained 3.2% in the past 24 hours with all members in the green.

Outside of crypto, precious metals remain firm, with gold climbing 1.5% on Monday to $3,815 and silver approaching all time highs at $47, with the next breakout level at $50.

What to Watch

Crypto

Macro

Sept. 29, 10:30 a.m.: Sept. Dallas Fed Manufacturing Index (Prev. -1.8)

Sept. 29, 1 p.m.: U.S. agencies SEC and CFTC hold a roundtable on regulatory harmonization efforts. Watch live.

Earnings (Estimates based on FactSet data)

Sept. 29, 7:30 a.m.: Fed Governor Christopher J. Waller gives a speech on "Payments" in Frankfurt.

Nothing scheduled.

Token Events

Governance votes & calls

Unlocks

Sept. 29: Anoma (XAN) to be listed on KuCoin. Sept. 29: Ronin (RON) treasury buybacks begin. Sept. 29: Falcon Finance (FF) to be listed on Binance, BingX, KuCoin, Gate.io, Bitget and others.

Sept. 29: Ronin (RON) treasury buybacks begin.

Sept. 29: Falcon Finance (FF) to be listed on Binance, BingX, KuCoin, Gate.io, Bitget and others.