Your day-ahead look for Oct. 1, 2026
By Omkar Godbole|Edited by Jamie CrawleyOct 1, 2026, 7:30 a.m. EDT4 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on (Boitumelo/Unsplash)SummaryShowThis is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already.
Bitcoin BTC$83,896.70 experienced a remarkable 40% rise in the third quarter, outperforming all other significant assets, despite Treasury yields reaching their highest levels in over twenty years. Investors funneled substantial funds into exchange-traded funds associated with BTC and various other cryptocurrencies, while several altcoins surged even more dramatically, leading experts to believe a new bull market has begun.
However, alongside this bullish trend, the industry faced a persistent issue of security breaches. Although the financial losses from these incidents are minor compared to the billions being invested in ETFs, the negative impact on the cryptocurrency's image is significant and difficult to dismiss.
During the third quarter, the cryptocurrency sector reported 247 security breaches, resulting in total losses of $1.26 billion, as per data from the crypto security firm CertiK. For the year to date, losses have reached $2.68 billion. September proved to be particularly detrimental, with 99 incidents recorded—the highest since February 2025—and $768.5 million stolen, marking the largest monthly theft in 2026.
"Yes, it is bad optics," stated Nicolai Sondergaard, a senior research analyst at Nansen, in a conversation with CoinDesk. "The reputational damage can still be larger than the losses themselves. Repeated exploits reinforce the idea that crypto infrastructure remains operationally fragile, which can slow institutional adoption, increase scrutiny from regulators and custodians, and make allocators demand a higher risk premium.”
Sondergaard noted that, at present, the losses are overshadowed by the influx of capital through ETFs, emphasizing that most institutions prefer to acquire crypto through regulated channels rather than engaging with decentralized finance (DeFi) protocols.
CertiK highlighted that these figures illustrate the persistence of the problem.
"September was a stark reminder of how quickly the threat landscape can shift. With both losses and incident count reaching their highest levels of 2026, the month's data reinforces the need for security across every layer," it stated on X.
The insurance coverage available in the sector remains relatively limited and is diminishing in relation to the risks involved. A report from CoinGecko, published in late August, indicated this trend, revealing that the on-chain crypto insurance capacity stands at $130.2 million, a decrease of 20.2% from $163 million last year.
The overall insurance sector has struggled to keep pace with the risks, as previously noted by CoinDesk earlier this year.
In the midst of all this, the rise of artificial intelligence (AI) poses an additional threat.
“My longer-term concern is speed; AI tools are now automating the search for vulnerabilities in smart contracts, a task that previously required months of work from a skilled engineer. This shortens the time frame for anyone to address a flaw before it is exploited,” Oliver Carding, Head of Marketing at Tesseract Group, conveyed in an email.
Security firm Blockaid anticipates a rise in incidents involving AI agents, with prompt injection—where concealed commands mislead an AI agent into acting against its user—being the most probable method.
In summary, while the bull market appears to be revived, so too are the malicious actors seeking to exploit its vulnerabilities.
Stay vigilant!
Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk's Crypto Week Ahead.
What’s trending
- MetaMask security incident forces Ethereum staking exits, no funds at risk (CoinDesk): MetaMask is halting its Ethereum staking services after a security breach, with Lido cautioning about lost rewards and a security researcher indicating that payments from block production were redirected to another wallet.
- 10-year Treasury yield hits highest level since 2002 as global bond rout gathers pace (CNBC): U.S. Treasury yields reached their highest level in more than two decades on Thursday as a global sell-off in bonds intensified. The yield on the 30-year Treasury bond increased by 3 basis points to 5.6702%, its highest since July 2002. The 2-year yield rose by 2 basis points to 4.91%.
- EU questions Binance over continued operations despite wind-down order (FT): EU authorities are scrutinizing Binance regarding its continued service to customers in the region despite an order to cease its operations in the bloc.
- Citigroup raises 12-month bitcoin target to $113,000 as ETF inflows resume (CoinDesk): Citi projects gradual yet steady inflows into products like ETFs as advisors and brokerages prefer incremental increases in bitcoin allocations, estimating $5 billion in inflows over the next year.
Newsletters
Crypto Daybook Americas - The latest moves in crypto markets, in contextMarket analysis for crypto traders and investors.PreviewSign upBy signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy.Today’s signal
The ether-bitcoin ratio has lost its bullish trendline. (TradingView)The chart illustrates daily fluctuations in the Binance-listed ether-bitcoin (ETH/BTC) ratio in candlestick format.
Following a significant rise in July and August, the pair's upward momentum has stalled. Repeated failures to maintain momentum above 0.033, followed by sideways movement, have broken the bullish trendline.
This change brings the Ichimoku cloud into focus. A decisive break below the cloud would confirm a bearish trend reversal, indicating a renewed downtrend for ether compared to bitcoin.
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