Btc Erases Wednesday's Spike, Jpm Warns Of Stock Crash: Crypto Daybook Americas

What Happened

In global news, early Thursday brought a glimmer of hope as President Trump announced a peace deal between Israel and Hamas with potential hostage releases by Monday, confirmed by Qatar media. Still, oil prices nudged slightly above $62, suggesting traders remain cautious about the durability of the agreement.

On the crypto front, solana (SOL) digital asset treasury company Helius disclosed plans to acquire at least 5% of Solana's supply, Coinbase launched decentralized exchange (DEX) trading within its app for U.S. users (except in New York), and Polymarket’s founder teased a possible launch of their native token, POLY.

Market Context

After a brief rebound on Wednesday, BTC and the broader crypto market slipped back into the red on Thursday — despite the Fed minutes showing a bias towards more rate cuts. The CoinDesk 20 Index (CD20) also fell over 1% to 4,163 points.

Switching gears to traditional markets, gold held strong above $4,000, defying the dollar’s rally, while S&P 500 futures hovered flat near record highs. Jamie Dimon, chief executive of JP Morgan, told the BBC he is “far more worried than others” about the possibility of a major stock market drop in the coming months.

Why It Matters

What’s behind the fresh stumble? Much of it likely comes down to the steady strength in the dollar index (DXY), which continues to dim the appeal of USD-denominated assets, including crypto.

Details

By Omkar Godbole (All times ET unless indicated otherwise)

Meanwhile, the U.S. government shutdown drags on, leaving traders in a holding pattern as they anxiously await Fed Chair Jerome Powell’s speech later Thursday for hints on policy direction, especially with fresh jobs and inflation data temporarily on pause.

Stay alert!

What to Watch

For a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

Crypto

Oct. 9, 11:30 a.m.: Casper (CSPR) Core Team is hosting an Execution Engine monthly update via Google Meet. Oct. 9, 12 p.m.: Cronos (CRO) team is hosting an AMA on X. MacroOct. 9, 8 a.m.: Brazil Sept. headline inflation rate YoY Est. 5.22%, MoM Est. 0.22%. Oct. 9, 8 a.m.: Mexico Sept. inflation rate. Headline YoY Est. 3.79%, MoM Est. 0.27. Core YoY Est. 4.28%, MoM Est. 0.32%. Oct. 9, 8:30 a.m.: U.S. Jobless Claims. Initial ((for week ended Oct. 4) Est. 223K, Continuing (for week ended Sept. 27) Est. 1930K. (Report delayed due to current federal government shutdown) Oct. 9, 8:30 a.m.: Fed Chair Jerome H. Powell delivers welcome remarks at the Community Bank Conference, Washington, D.C. Watch live. Earnings (Estimates based on FactSet data)Nothing scheduled. Oct. 9, 11:30 a.m.: Casper (CSPR) Core Team is hosting an Execution Engine monthly update via Google Meet. Oct. 9, 12 p.m.: Cronos (CRO) team is hosting an AMA on X. Oct. 9, 8 a.m.: Brazil Sept. headline inflation rate YoY Est. 5.22%, MoM Est. 0.22%. Oct. 9, 8 a.m.: Mexico Sept. inflation rate. Headline YoY Est. 3.79%, MoM Est. 0.27. Core YoY Est. 4.28%, MoM Est. 0.32%. Oct. 9, 8:30 a.m.: U.S. Jobless Claims. Initial ((for week ended Oct. 4) Est. 223K, Continuing (for week ended Sept. 27) Est. 1930K. (Report delayed due to current federal government shutdown) Oct. 9, 8:30 a.m.: Fed Chair Jerome H. Powell delivers welcome remarks at the Community Bank Conference, Washington, D.C. Watch live. Nothing scheduled.

Oct. 9, 12 p.m.: Cronos (CRO) team is hosting an AMA on X.

Macro

Oct. 9, 8 a.m.: Brazil Sept. headline inflation rate YoY Est. 5.22%, MoM Est. 0.22%. Oct. 9, 8 a.m.: Mexico Sept. inflation rate. Headline YoY Est. 3.79%, MoM Est. 0.27. Core YoY Est. 4.28%, MoM Est. 0.32%. Oct. 9, 8:30 a.m.: U.S. Jobless Claims. Initial ((for week ended Oct. 4) Est. 223K, Continuing (for week ended Sept. 27) Est. 1930K. (Report delayed due to current federal government shutdown) Oct. 9, 8:30 a.m.: Fed Chair Jerome H. Powell delivers welcome remarks at the Community Bank Conference, Washington, D.C. Watch live. Earnings (Estimates based on FactSet data)Nothing scheduled. Oct. 9, 11:30 a.m.: Casper (CSPR) Core Team is hosting an Execution Engine monthly update via Google Meet. Oct. 9, 12 p.m.: Cronos (CRO) team is hosting an AMA on X. Oct. 9, 8 a.m.: Brazil Sept. headline inflation rate YoY Est. 5.22%, MoM Est. 0.22%. Oct. 9, 8 a.m.: Mexico Sept. inflation rate. Headline YoY Est. 3.79%, MoM Est. 0.27. Core YoY Est. 4.28%, MoM Est. 0.32%. Oct. 9, 8:30 a.m.: U.S. Jobless Claims. Initial ((for week ended Oct. 4) Est. 223K, Continuing (for week ended Sept. 27) Est. 1930K. (Report delayed due to current federal government shutdown) Oct. 9, 8:30 a.m.: Fed Chair Jerome H. Powell delivers welcome remarks at the Community Bank Conference, Washington, D.C. Watch live. Nothing scheduled.

Oct. 9, 8 a.m.: Mexico Sept. inflation rate. Headline YoY Est. 3.79%, MoM Est. 0.27. Core YoY Est. 4.28%, MoM Est. 0.32%.

Oct. 9, 8:30 a.m.: U.S. Jobless Claims. Initial ((for week ended Oct. 4) Est. 223K, Continuing (for week ended Sept. 27) Est. 1930K. (Report delayed due to current federal government shutdown)

Oct. 9, 8:30 a.m.: Fed Chair Jerome H. Powell delivers welcome remarks at the Community Bank Conference, Washington, D.C. Watch live.

Earnings (Estimates based on FactSet data)

Nothing scheduled. Oct. 9, 11:30 a.m.: Casper (CSPR) Core Team is hosting an Execution Engine monthly update via Google Meet. Oct. 9, 12 p.m.: Cronos (CRO) team is hosting an AMA on X. Oct. 9, 8 a.m.: Brazil Sept. headline inflation rate YoY Est. 5.22%, MoM Est. 0.22%. Oct. 9, 8 a.m.: Mexico Sept. inflation rate. Headline YoY Est. 3.79%, MoM Est. 0.27. Core YoY Est. 4.28%, MoM Est. 0.32%. Oct. 9, 8:30 a.m.: U.S. Jobless Claims. Initial ((for week ended Oct. 4) Est. 223K, Continuing (for week ended Sept. 27) Est. 1930K. (Report delayed due to current federal government shutdown) Oct. 9, 8:30 a.m.: Fed Chair Jerome H. Powell delivers welcome remarks at the Community Bank Conference, Washington, D.C. Watch live. Nothing scheduled.

Oct. 9, 11:30 a.m.: Casper (CSPR) Core Team is hosting an Execution Engine monthly update via Google Meet.

Oct. 9, 8 a.m.: Brazil Sept. headline inflation rate YoY Est. 5.22%, MoM Est. 0.22%.

Nothing scheduled.