Morning Minute is a daily newsletter authored by Tyler Warner. The views expressed are his own and do not necessarily represent those of Decrypt. Also, tune in to our daily news show 'FOMO HOUR' for coverage of the latest stories and market movements.
Good morning!
Here are the key updates for today:
- Major cryptocurrencies see a slight pullback after a recent upswing; BTC is currently at $85.3k
- ZEC and HYPE soar to new all-time highs as altcoins maintain momentum
- Bitcoin ETFs recorded $715 million in net inflows, while Ethereum saw $162 million
- CME is set to introduce Bitcoin Cash and Uniswap futures on October 19, both experiencing price surges
- Robinhood Crypto hints at upcoming developments for stock tokens, causing RH Chain leaders to rise
📈 Bitcoin Surges to $86,000 Amid Oil Price Drop and ETF Inflows
On Tuesday, Bitcoin surpassed $86,500, marking a weekly increase of approximately 14%, which pushed the total cryptocurrency market capitalization above $3 trillion. On Monday, spot Bitcoin ETFs attracted nearly $999 million. Notably, 97 out of the top 100 cryptocurrencies showed positive returns over the past week, indicating a favorable trend in the crypto market.
In tandem with Bitcoin's rise, Ethereum reached $2,750, while Solana climbed to $120. HYPE, ZEC, and VVV all achieved new all-time highs, and even the leading NFT collection, CryptoPunks, saw its floor price exceed $90k.
On Wall Street, the Nasdaq Composite hit a record high on Monday, closing up 2.26%, marking its best performance since June. Intel experienced a 12% gain, and AMD rose by 10% as it surpassed a $1 trillion market valuation. The chip sector continued its upward trend into Tuesday, marking its longest winning streak since April.
BitcoinBTC · USD$85,508+13%24H7D1M1YYTDSep 16Sep 18Sep 20Sep 21Sep 23$87.2k$83.3k$79.5k$75.6k24h HighHigh$87,25124h LowLow$85,444VolVol$1.7BMarket projectionsOdds by MyriadToday$84,000 to $86,000$84k–$86k73% chanceThis weekBelow $86,000Below $86k57% chanceThis monthBelow $86,000Below $86k57% chance→Buy Bitcoin with USDTPowered by Jupiter$50$100$500BuyPrice data by CoinGeckoCoinGeckoMore Bitcoin news and projections →A recent decline in oil prices has contributed to this surge. Brent crude dipped below $98 and WTI fell under $93, marking their lowest levels since early September. Reports indicate that Iran is prepared to reopen the Strait of Hormuz soon if the U.S. reduces sanctions. Former President Trump expressed optimism for a deal shortly after the upcoming midterm elections, and Saudi Arabia is reportedly working to restart its East-West pipeline by the weekend.
Returning to the cryptocurrency sector, the groundwork for a new bull market appears to be forming. The SEC and CFTC are clarifying market structures, despite the absence of the CLARITY ACT. A significant boom in tokenization is underway, with Robinhood CEO Vlad Tenev likely at the forefront, showcasing how quickly tokenized stocks can be developed on Robinhood Chain. Retail investors, who anticipated an early October market bottom, are starting to capitulate, as reflected in Bitcoin's ETF inflows, which represented the largest single-day inflow since October 2025.
Buckle up, as the next cryptocurrency bull market might soon be underway…
🌎 Macro Crypto and Markets
- Major cryptocurrencies are experiencing a slight downturn this morning; BTC down 0.3% at $85.3k; ETH down 1% at $2,720; SOL stable at $117; HYPE stable at $95; ZEC up 7% at $1,620
- Notable altcoin movements include BCH (+26%), ZRO (+21%), TIA (+15%), and UNI (+12%)
- Oil is down 2% at $91; Gold is down 0.1% at $4,340
- Stock futures are slightly lower as yields rise; DOW down 0.2%, Nasdaq down 0.3%
- CME is set to launch Bitcoin Cash and Uniswap futures on October 19 pending regulatory approval, which will be its tenth and eleventh single-asset crypto contracts
- Senator Lummis stated that Democrats prioritized “visceral hatred” for Trump over advancing the Clarity Act, while commending Gillibrand and Alsobrooks for their integrity in negotiations that expanded the bill from 300 to over 600 pages
- The CFTC cautioned that “mention markets” are susceptible to manipulation and may only be offered under strict conditions, highlighting four factors exchanges must consider before listing contracts based on public statements
- A repetitive trade size near $5,499 constituted 57% of Kalshi’s sampled ETH perpetual volume, with $2,500 and $5,000 trades accounting for 54% of bitcoin perps, which Kalshi attributes to its market maker incentive program, though some suspect it may be wash trading
- The SEC has submitted a crypto custody proposal to the OMB that covers broker-dealers and investment companies, permitting firms to hold non-security cryptocurrencies without special registration and confirming that advisors can utilize state-chartered trusts
- Coinbase is working on post-quantum custody solutions for its approximately $250 billion in assets, designed to adapt to future signature schemes adopted by Bitcoin, utilizing programmable hardware security modules (HSMs)
- BlackRock indicated that AI agents will require machine-native settlement systems in a whitepaper titled The Machine-Native Economy, suggesting stablecoins will play a leading role and proposing tokenized claims on computing power as a tradable, collateralizable asset
Corporate Treasuries & ETFs
- Bitcoin ETFs experienced $715 million in net inflows on Tuesday; Ethereum ETFs saw $162 million; and Solana ETFs recorded $29 million
- 21Shares launched Europe’s first Zcash ETP on Euronext Paris and Amsterdam, alongside an ETHFI product, both of which are physically backed with a 2.5% annual fee, following Grayscale's Zcash ETF launch in the U.S. a month prior
Meme Coin Tracker
- Meme coin leaders mostly saw gains led by Pengu and Bonk; DOGE +2%, SHIB stable, PEPE -4%, PENGU +15%, TRUMP +1%, SPX -5%, BONK +12%
- Robinhood chain leaders were up 10-30%; Pons +10% to $480 million; AI +10% at $270 million; Cashcat -1% at $165 million; Boner +25%, Meme +33%, Musebook +60%, and Shroom +60% led the top movers
- Solana’s top movers included SI +250%, Jeanphil +190%, OTC +90%, GP +65%, and Ember +28%; Ansem decreased by 1% to $170 million
💰 Token, Airdrop & Protocol Tracker
- Hyperliquid topped on-chain protocols in revenue with $2.37 million, followed by Pump at $1.92 million, Stonk at $1.27 million, and Pons at $378k
- Near’s Confidential Intents TVL exceeded its public TVL for the first time
🚚 What is happening in NFTs?
- NFT leaders continued to rise, with Punks up 6% at 34 ETH, BAYC up 3% at 6.85 ETH, and Pudgy up 3% at 3.52 ETH
- Identity MD (+13%) and Milady (+20%) were among the top movers; FWAIR PFPs surged 70% to 3.7 ETH
- CryptoPunks saw 37 sales in the last 24 hours, raising the floor price to 34 ETH
- Jack Butcher’s Credits launched with a floor price of 0.03 ETH and achieved a volume of 760 ETH (with a 120k supply)