The approval of multi-asset ETPs in the United States, the launch of the Dogecoin ETF, and the introduction of Solana/XRP futures and options are expected to accelerate institutional adoption and heighten interest in the altcoin market. However, uncertainty regarding potential Federal Reserve rate cuts acts as a driver of market volatility. Overall, while remaining cautious of short-term fluctuations, we maintain a neutral to slightly bullish stance, closely monitoring the market driven by expectations of long-term growth.

* First Multi-Asset Crypto ETP Approved in the US Grayscale's Digital Large Cap Fund (GLDC) has received SEC approval, offering exposure to Bitcoin, Ethereum, XRP, Solana, and Cardano. This marks a significant milestone for the digital asset industry, expected to further encourage institutional entry into the cryptocurrency market. Consequently, this is likely to increase capital inflows into these major currencies, enhancing overall market liquidity and stability. * Dogecoin ETF Launched in the US, Targeting $1.40 for DOGE Price REX-Osprey's Dogecoin ETF ($DOJE) has listed in the United States, signaling Dogecoin's transition from a meme coin to a mainstream asset. The launch of this ETF is expected to boost interest in Dogecoin and stimulate investor sentiment. Historical pattern analysis suggests a potential price target of $1.40 for DOGE, with expectations of a ripple effect across the broader meme coin market. * Solana and XRP Futures Options to Launch on CME on October 13 CME Group is introducing futures options for Solana and XRP, a move underpinned by strong trading volumes in their existing futures contracts. The expansion of the derivatives market for these prominent altcoins will enable institutional investors to deploy more diverse trading strategies, improving market liquidity and price discovery capabilities. * Generic Listing Standards Approved in the US to Expedite Crypto ETF Approval Process The SEC has approved standards that eliminate the need for individual application reviews, streamlining the approval process for spot crypto ETFs. This regulatory easing is anticipated to pave the way for more ETFs entering the market, further lowering the barrier to entry for institutional investors. As a result, sustained inflows and more efficient price formation are expected. * Licensing Exemption for Stablecoin Distributors in Australia The Australian Securities and Investments Commission (ASIC) has introduced a licensing exemption for intermediaries involved in the distribution of stablecoins issued by licensed entities. This regulatory relief is poised to promote the circulation and adoption of stablecoins, bolstering the growth of Australia's digital asset ecosystem. It will make it easier for more companies to offer stablecoin-related services, leading to increased market activity. * Nvidia Invests in UK Crypto Miner-Related Firm as Part of AI Push Nvidia is investing $683 million in Nscale, an AI infrastructure company spun off from crypto mining firm Arkon Energy. This investment not only strengthens Nvidia's leadership in the AI sector but also signifies technological synergy with the cryptocurrency mining industry. The convergence of AI and blockchain technology holds the potential to generate new innovations and could increase interest in related crypto projects. * Fed Faces Divergence within FOMC Regarding Further Rate Cuts in 2025 Fed Chair Powell has highlighted disagreements among FOMC members concerning additional interest rate cuts in 2025. This uncertainty is a critical factor for market participants, particularly cryptocurrency investors. While the ambiguity surrounding the pace and timing of rate reductions may cause short-term price fluctuations, the expectation of eventual monetary easing could support investment in risk assets over the long term. * Bitcoin Falls Below $115,000 After Fed's 25bps Rate Cut Bitcoin is struggling to maintain the $115,000 level following the Federal Reserve's rate cut. Although the market appears to have priced in this reduction, the Fed's guidance on the future pace of cuts remains a key focus. This price movement underscores the cryptocurrency market's sensitivity to macroeconomic events, necessitating a cautious approach from investors. Overall Summary The expansion of Bitcoin ETF options and the approval of a multi-asset ETP in the US are accelerating institutional adoption, contributing to market stabilization and improved liquidity. The launch of the Dogecoin ETF and the growth of the derivatives market for Solana/XRP are boosting interest in altcoins and promoting market diversification. However, uncertainty surrounding the Fed's rate cut trajectory poses a risk factor for market volatility, necessitating close attention to future monetary policy developments.

Uncertainty regarding the Federal Reserve's monetary policy, particularly the pace and timing of potential interest rate cuts, is a primary risk factor amplifying overall market volatility. From a technical standpoint, a failure to break through the current resistance at $5 could lead to intensified downward pressure. Breaking below the crucial support level at $4 risks triggering further declines.

Over the short term (24-48 hours), supported by positive fundamentals, we expect modest gains or sideways movement within the current range. In the medium term (over the next week), the market could either attempt to break through overhead resistance or enter a corrective phase, depending on Federal Reserve statements and economic data releases. Key catalysts to watch include U.S. ETF inflow trends and upcoming inflation data releases.

In summary, the cryptocurrency market is currently buoyed by strong fundamental drivers, including increased institutional participation and growing interest in altcoins. However, uncertainty surrounding the Federal Reserve's monetary policy continues to amplify market volatility. Current technical indicators do not provide a clear directional signal, suggesting a neutral stance is appropriate at this time. Our recommended approach involves considering buys around the $4 support zone, targeting a potential short-term rebound. The primary target is set at $6, with risk management prioritizing a stop-loss execution if the price decisively breaks below $4. Key levels to monitor this week are $5.20 for resistance and $3.80 for support, as breakouts or breakdowns from these levels will signal the direction of the next trend. Investors should pay close attention to the Federal Reserve's policy direction, particularly monitoring macroeconomic indicator releases like inflation rates and employment data, as these events can significantly influence market sentiment. Mitigating risk in this uncertain environment is best achieved through diligent portfolio diversification and strict position size management. The cryptocurrency market is still evolving, and its long-term growth potential is considerable, driven by ongoing institutionalization and technological innovation. By maintaining rational analysis and disciplined trading, investors can effectively navigate this dynamic sector, capitalize on emerging opportunities, and make informed investment decisions.