According to CME's "Fed Watch," the probability of the Fed keeping interest rates unchanged in October is 12.3%, and the probability of a 25 basis point rate cut is 87.7%. The probability of the Fed keeping interest rates unchanged in December is 3.1%, the probability of a cumulative 25 basis point rate cut is 31.5%, and the probability of a cumulative 50 basis point rate cut is 65.4%.

According to market news, Galaxy Digital CEO Novogratz said that the Federal Reserve’s dovish policy will push the price of Bitcoin to $200,000 and help gold prices reach new highs.

Hyperdrive announced on the X platform that its protocol recently experienced issues, which have currently been confirmed to affect only the Primary USDT 0 Market and the Treasury USDT Market. The company is investigating with security and forensics experts and will share a full report upon completion. To prevent malicious activity, all markets (including interest accrual mechanisms) and withdrawal functionality have been temporarily suspended. The team is developing a patch to address the issue and exploring all possible avenues to mitigate the impact on affected users. Hyperdrive will provide the next substantive update through official channels within 24 hours.

Market analyst James Van Straten suggests that derivatives, such as options contracts, will drive Bitcoin's market capitalization to at least $10 trillion. He believes that derivatives will not only attract more institutional investors but also effectively mitigate the inherent volatility of the digital currency market. Van Straten cites the record-breaking open interest in Bitcoin futures on the Chicago Mercantile Exchange (CME) as an example of a significant shift in market structure. He attributes this phenomenon in part to the widespread use of systematic volatility selling strategies, such as covered call options, reflecting the increasing liquidity and maturation of the Bitcoin derivatives market. He also notes that lower volatility has a two-way impact: while it mitigates the sharp declines common in the crypto market, it also reduces the high-yield surges that investors are accustomed to.

Haider Rafique, Global Managing Partner of Government and Investor Relations at crypto exchange OKX, stated that a government's establishment of a strategic Bitcoin reserve could negatively impact both Bitcoin and the US dollar. He believes that large government holdings of Bitcoin could manipulate prices through market sell-offs, undermining Bitcoin's core attributes of decentralization and neutrality. He cited the example of the German government's sale of 50,000 Bitcoins in 2024, which caused the price to remain below $60,000. He noted that government policies are volatile and that a new administration could overturn its predecessor's decisions, posing a risk of liquidation. Rafique further noted that while Bitcoin supporters view national reserves as a key step toward Bitcoin becoming a global reserve currency, such a move could trigger widespread macroeconomic shocks. The most immediate impact would be to shake confidence in the US dollar and expose the weakness of relying solely on economic strength to maintain its value. Investors might sell US dollars and invest in traditional safe-haven assets like gold or the Swiss franc, while simultaneously selling off riskier assets, triggering a chain reaction in financial markets and leading to significant market declines. He believes that national Bitcoin reserves not only impact the crypto market but also have the potential to trigger systemic risks in the transformation of the global financial system. (Cointelegraph)

According to on-chain data from Odaily Planet Daily, the market capitalization of the Plasma Meme coin TrillionS, which briefly surpassed $50 million, is now trading at $45.1 million, a daily increase of over 936%. Odaily reminds users that Meme coin prices are subject to significant volatility, so investors should be aware of the risks.

ZEROBASE announced on the X platform that its total locked value (TVL) exceeded $400 million within 60 hours of its launch.

Asset managers Fidelity, Franklin Templeton, CoinShares, Bitwise, Grayscale, Canary Capital, and VanEck have updated their respective S-1 registration statements for their proposed Solana ETFs to clarify details about their staking activities. This flurry of filings follows a similar wave in late August, when several of the same issuers amended their filings to allow for both cash and in-kind redemptions. Bloomberg ETF analyst James Seyffart said at the time that the filings could indicate "active communication between these issuers and the SEC." In a post on the X platform, Seyffart stated that the latest round of amendments shows "signs of action from both the issuers and the SEC. A Solana ETF is likely to be listed in the coming days/weeks." NovaDius Wealth President Nate Geraci also welcomed the latest round of amendments, calling them "a good sign for spot Ethereum ETF staking. We expect these (Solana ETFs) to be approved within the next two weeks." (The Block)

According to PANews, market analyst James Van Straten has highlighted the potential impact of derivatives like options contracts on Bitcoin's market capitalization, predicting it could reach at least $10 trillion. Van Straten suggests that derivatives can attract more institutional investors and mitigate the inherent high volatility risks of the digital currency market. He cites the record high open interest in Bitcoin futures at the Chicago Mercantile Exchange (CME) as evidence of significant shifts in market structure. Van Straten attributes this development partly to the widespread use of systematic volatility selling strategies, such as covered call options, which indicate enhanced liquidity and maturity in the Bitcoin derivatives market. He notes that reduced volatility has a dual effect: while it can alleviate the frequent sharp declines typical in the crypto market, it may also lead to fewer instances of the high-yield surges investors have become accustomed to.

On September 27, Hyperdrive confirmed that two user wallet positions in its Treasury Market were compromised in an attack that […] The post Hyperliquid Ecosystem Facing Big Losses After Hack and Rug Pull appeared first on Coindoo. source: https://coindoo.com/hyperliquid-ecosystem-facing-big-losses-after-hack-and-rug-pull/

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