Aster Surges Past HyperLiquid With 8x More Trading Volume Crypto Daybook Americas

By James Van Straten (All times ET unless indicated otherwise)
If Monday’s trading performance in crypto and related equities is any indication of what October and the fourth quarter may bring, it could be a buoyant period for an industry still lagging behind both U.S. equities and metals.
Bitcoin (BTC) jumped 5% from Friday’s fear-driven session to a more neutral stance at $114,000 on Monday, showing how quickly sentiment as measured by the Crypto Fear and Greed Index can shift.
Still, the largest cryptocurrency gave up some of those gains and was recently trading around $112,800. It will probably need gold to relinquish some attention before its next move higher.
That might be a challenge, however. Gold continues to outperform, delivering nearly 50% year-to-date returns and climbing to another record high above $3,870 earlier today. At the same time, the dollar index (DXY) cannot generate momentum and has fallen below 98, which is positive for risk-assets.
Meanwhile, an imminent U.S. government shutdown threatens to affect policy decisions around crypto more than any other area.
Equities tied to artificial intelligence and high-performance computing continue to gain strength. Robinhood (HOOD), the trading platform added to the S&P 500 in its most recent rebalancing, saw its share price jump 12% on Monday as the quarter comes to a close.
September has been a pretty subdued month for cryptocurrencies, with the CoinDesk 20 Index little changed over the period, up just 0.54%. Ether (ETH) lagged behind and is on track to lose more than 5% in the month. Bitcoin is currently up 4.5%.
October, nicknamed Uptober for its historic effect on BTC is just around the corner. Stay alert!
For a more comprehensive list of events this week, see CoinDesk’s week-ahead note.
For a more comprehensive list of events this week, see CoinDesk’s week-ahead note.
For a more comprehensive list of the week’s conferences, see CoinDesk’s week-ahead note.
By Oliver Knight
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Source: Farside Investors