Good morning. The government shutdown has delayed the US CPI read for September by a week. But it’s finally here and the results are in.
All of that, plus your…
- Chart of the Day. The rotation from gold to BTC could be underway.
- Trade of the Day. An update on ETH.
- Degen Play of the Day. Is Binance’s US comeback on?
Chart of the Day
It looks like people queueing up on the streets last week to buy gold coins was indeed a local top signal for the store of value. At least for now. Gold is down 3.3% on the week whilst Bitcoin is up 2.7%. So, could this be the beginning of the rotation from gold to BTC?
Well, all BTC needs is a small rotation to see a massive repricing. If BTC can absorb between 1-5% of gold’s market cap, it could mark the beginning of an insane rally for our beloved Bitcoin.
- 1% = ~$134,270 BTC
- 2% = ~$161,300 BTC
- 3% = ~$188,330 BTC
- 4% = ~$215,360 BTC
- 5% = ~$242,391 BTC
If this were to happen, the market is going to have several $5-10K green daily candles in the next 2-3 months. LFG!
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Trade of the Day
Here’s an update on Ethereum and it’s holding the trendline support well on the daily chart. The good news is that the MACD levels are hinting that a golden cross is possible, which would show bullish momentum and accelerating upside if confirmed. Watch this closely.
The next key resistance levels remain at the 50-day EMA around $3,700 and the all-time high swing at around $4,800. However, a dip below $3,700 could retest $3,500 support, but upside looks primed if volume sustains.
Once ETH can confidently get back above the 50-day EMA, it’s game on.
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Alpha Leaks
- Pumpfun [PUMP] has acquired trading terminal Padre to help drive higher trading volumes and more liquidity into its tokens, given how much the memecoin sector has cooled off from its peak in 2024.
- Rumble [RUM] has teamed up with Tether to bring a Bitcoin and stablecoin tipping feature to all 51 million active users from mid-December.
- Hyperliquid Strategies [HYPE] has filed paperwork with the SEC to raise $1 billion to IPO on the Nasdaq. The money will be used to buy more HYPE tokens.
- Jupiter [JUP] has launched its first native on-chain prediction market in beta that’s built on Kalshi. Trading volume and revenue from fees could be about to explode way higher.
- JustLend [JST] has completed its first large-scale token buyback and burn, using $17 million to burn 5.66% of the JST supply. This has initiated a sustainable deflationary cycle, with over $41 million allocated for future phased burns, aiming for a total supply reduction of over 20%.
- Solmate [SLMT] is a Solana treasury company that’s jumped 50% on the news that it’s selected a data center and is testing the configuration of its planned SOL validator.
- Cameco [CCJ] is a Uranium stock that’s seen Allianz Asset Management lower its stake by 72% in Q2, according to SEC filings. Given the stock has run up 100% in 6 months, this could just be a rebalancing. With inflows still coming in elsewhere, it’s not a red flag.
Go Premium to read this week’s report on which perp DEXs have a high likelihood of airdrops, because not all of them are worth your gas.
News Roundup
US Inflation (Kinda) Cools
US CPI inflation came in at 3% for September, higher than August’s 2.9% read, and the highest since January, but lower than the 3.1% expectation. In the crazy world of financial markets, that’s still bullish. Especially given the state of the crypto market right now, traders will take every scrap of hopium.
And there’s more good news on the inflation front… core inflation, which strips out volatile food and energy prices, softened to 3% annually in September, down from 3.1% in August.
With this lower-than-expected CPI read, this puts odds even more in favor of a rate cut next week. There was already a 98% chance of a 25-bps cut on October 29th and 97% on December 10th.
Now say it with me: Next week is going to be a good week. A relief rally could be coming, maybe sooner than most think. Stay patient.
Polymarket Confirms Token Launch
Polymarket’s CMO has confirmed plans to launch its own POLY token after its founder teased one was coming earlier this month. Even bigger news, an airdrop is coming too. There’s already speculation that the airdrop will be allocated based on trading volume, so the most active traders stand to benefit the most.
However, this bullish news comes with a catch…the token launch will likely come in 2026 after Polymarket debuts its US app, which is the team’s current focus. But when the token is finally airdropped, expect it to be one for the record books.
Together, a US app and native token is the perfect storm for more liquidity and more attention.
JPMorgan To Launch Institutional Crypto Loans
No matter how much hate JPMorgan CEO Jamie Dimon spits about crypto, JPMorgan keeps doubling down. Now, it’s preparing to let institutional clients use Bitcoin and Ethereum as collateral for loans.
The loan program is set to launch by the end of the year and expands on JPMorgan’s earlier decision to allow crypto ETFs as loan collateral.
This continues to mark a massive cultural shift in how Wall St. views BTC and ETH now, putting them on par with traditional assets.
Degen Play of the Day
Now that President Trump has pardoned Binance founder CZ, odds on Polymarket’s bet that CZ returns to Binance by December 31st have jumped to 36%, up from 7% pre-pardon.
CZ’s pardon means President Trump has cleared legal hurdles, reigniting speculation that a cosy relationship between the two could be on the cards.
This could be the catalyst that eventually re-integrates Binance US back into its global operations and could even see Binance IPO on the US stock market. If there’s a hint of either of these happening, odds that CZ returns to Binance are likely to rise.
Legal Disclaimer
Wealth Mastery (Lark Davis, and the Wealth Mastery writing team) are not providing you individually tailored investment advice. Nor is Wealth Mastery registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. Wealth Mastery is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.
You can find a full disclosure of all my crypto & venture investments here.
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
