Summary
- Crypto roundup for Friday highlights dicey markets on mixed U.S. data, geopolitical news, and Fed bias.
- Bitcoin stalls two-day uptrend near a seven-week high, Gold recovers, while the U.S. Dollar drops back towards the weekly low.
- U.S. ISM Services PMI eased, but employment and price details improved.
- Trump announced a tax rebate from tariff gains amid political struggles and shutdown woes.
- Putin showed readiness to discuss the Ukraine peace plan, with conditions.
- Crypto market news showed upbeat developments, but major coins retreated from weekly tops.
- Equities edge higher with all three benchmarks refreshing record tops.
Crypto Roundup for Friday: Mixed Sentiment Prevails…
The ongoing U.S. government shutdown has not only delayed key economic data but also raised concerns over Federal Reserve rate decisions, adding more uncertainty to market sentiment. The shutdown has postponed the release of the weekly jobless claims and factory orders data. The U.S. jobs report has also been delayed, which was expected to show a rise of 52,000 in nonfarm payrolls. Recently, the U.S. ISM Services PMI and S&P Global PMIs for September flashed mixed signals, but couldn’t derail the dovish Fed bias and weigh on the U.S. Dollar, allowing risk assets to remain firmer, even as the crypto market leaders dribble.
Against this backdrop, Bitcoin clings to mild losses at a seven-week-high, stalling a two-day winning streak around $120K, whereas the spot gold (XAU) reverses the previous day’s retreat from an all-time high (ATH), rising half a percent near $3,875. Further, the U.S. Dollar Index (DXY) drops back to 97.70, reversing Thursday’s corrective bounce from the weekly low.
Talking about the latest economic data, the ISM Services PMI for September hit a four-month low of 50.00, versus 51.7 expected and 52.0 prior. Still, the details suggest an improvement in the inflation and employment components. That said, final readings of the U.S. S&P Global Composite PMI for September rose past initial forecasts of 53.6 to 53.9, backed by upbeat Services PMI.
Earlier in the week, the U.S. ADP Employment change marked a downbeat figure and bolstered the likelihood of a Federal Reserve rate cut in October, as well as in December.
On Thursday, both Dallas Fed President Lorie Logan and Chicago Fed President Austan Goolsbee expressed caution about future rate cuts.
The U.S. Senate Majority Leader John Thune ruled out the possibility of a vote this weekend to reopen the government.
Meanwhile, U.S. President Donald Trump is bracing for $1,000–$2,000 stimulus checks to taxpayers, funded by tariff revenues.
On the global front, Russian President Vladimir Putin made remarks about Russia’s involvement in Ukraine, stating that Russia is open to continuing talks. He downplayed the idea that Russia is a threat to the North Atlantic Treaty Organization (NATO) and, instead, blamed the West for the lack of peace in Ukraine.
In Germany, Munich Airport was temporarily shut down after drones were detected flying over the airport.
Crypto, Equity Update
Cryptocurrency traders experience mild losses after a two-day winning streak, with major coins retreating from short-term key resistances. That said, Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all retreat from weekly tops.
That said, popular altcoins like Solana (SOL), Dogecoin (DOGE), and Avalanche (AVAX) drop more than 2.0% each to gain the market’s attention.
Meanwhile, Binance Coin (BNB) renews its all-time high (ATH) and Aster (ASTER) jumps over 7.0% on a day to buck the trend by press time.
Notably, the Bitcoin Dominance eases to 58.0%, from 58.3%, but the crypto market capitalization (market cap) rises 1.1% on the day to $4.14 trillion as we write.
Talking about major news, New York lawmakers, State Senator Liz Krueger and Assembly member Anna Kelles, introduced Senate Bill S8518 on October 1. The bill proposes a tax on crypto mining firms based on their annual power consumption, aiming to address the rising electricity costs linked to crypto mining.
Blockchain security firm PeckShield reported that crypto hacks in September 2025 resulted in $127.06 million in losses. While around 20 major exploits were reported, this marks a 22% drop from August’s $163 million in damages.
Crypto trading platform CoinRoutes acquired risk analytics firm QIS Risk for $5 million. In doing so, the crypto major eyes to benefit from the growing demand for specialized crypto infrastructure services tailored to hedge funds and large traders.
Also Read: CoinRoutes Forges Premier Institutional Crypto Trading Platform in QIS Risk $5M Acquisition
Telegram Wallet listing tokenized U.S. stocks will begin trading by the end of October, bringing 24/5 trading of major U.S. equities to the messaging app’s massive user base. Details suggest that the program is a partnership with crypto exchange Kraken and tokenization platform Backed, offering over 60 fully-backed stocks and ETFs.
Read More: Telegram Wallet Listing Tokenized U.S. Stocks Starting this October
The global derivatives giant, CME Group, unveiled intentions to launch 24/7 trading for its crypto futures and options in early 2026, pending regulatory approval. This move allows CME Group to offer uninterrupted Bitcoin and Ethereum futures and options markets, facilitating the crypto universe that never sleeps.
More Details: CME Group Plots 24/7 Crypto Trading for Futures and Options for 2026
Some of the top crypto news are mentioned above, while more updates like this could be traced to our Coin Bytes.
Talking about the U.S. equities, Wall Street benchmarks begin Friday with modest gains. With Dow Jones, S&P 500, and Nasdaq Composite all rising around 0.30% intraday each, while refreshing record highs.
On Thursday, Dow Jones closed on a defensive note, whereas the S&P 500 and Nasdaq posted modest gains. Notably, the S&P 500 and Nasdaq both refreshed record highs the previous day. That said, Nvidia reached a new high above $190 despite a halt in its deal with the United Arab Emirates (UAE) due to U.S. investment demands and concerns over China. Meanwhile, Tesla saw a 5% decline from its pre-market high even as the third quarter (Q3) deliveries rose.
- Gold bulls keep the reins, reversing the previous day’s retreat from an ATH by rising to $3,875 by press time.
- Bitcoin (BTC) cools off at seven-week high, stalling two-day winning streak near $120K as we write.
- Ethereum (ETH) retreats from its weekly top, down 0.90% intraday to $4,445 at the latest.
- U.S. Dollar Index (DXY) drops back, down 0.16% intraday to 97.70 as it nullifies the previous day’s corrective bounce.
- Wall Street benchmarks hit ATH, after an upbeat day, with Dow Jones being defensive, but S&P 500 and Nasdaq 100 refreshed record highs.
- WTI Crude Oil bounces off four-month low, prints the first daily gain in five, near $61.10 as we write.
Focus remains on the risk catalysts…
With the U.S. shutdown, key data releases, including the non-farm payrolls (NFP), have been delayed, shifting the market’s focus to risk factors as the main drivers of near-term movements. This could restrict the U.S. Dollar’s further weakness, potentially extending the pullback in cryptocurrencies, but can keep gold firmer.
As the market awaits clarity, traders seem to be well-set for 25 basis 25-basis-point (bps) rate cut from the U.S. Federal Reserve (Fed) by the end of the month, highlighting a dovish bias and bearish outlook for the U.S. Dollar. However, any subtle shifts in the Fed’s outlook, such as those hinted at by Fed President Lorie Logan, could spark significant volatility.
On Friday, key speakers include Fed Presidents Logan, Williams, and Jefferson are up for speaking.
Apart from the Fed talks, headlines surrounding Russia, Trump tariffs and the Middle East will also be important to determine short-term market moves.
Also read: Just-In: Samsung Partners Coinbase to Offer Bitcoin, Crypto Access for 75M Users
