BTC Erases Wednesdays Spike JPM Warns of Stock Crash Crypto Daybook Americas

By Omkar Godbole (All times ET unless indicated otherwise)
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.
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.
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.
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.
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.
Stay alert!
For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.
For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.
For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.
By Oliver Knight
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Source: Farside Investors