🔥🔥🔥 U.S. TREASURY YIELDS SURGE TO 24-YEAR HIGHS — INFLATION FEARS RETURN

❗️ U.S. Treasury yields continued to climb at the start of the week, even after weak jobs data sharply reduced expectations for an October Fed rate hike.

👉 Yield levels:
🖤 The 10-year yield rose to around 5.31–5.34%, its highest level since 2002
🖤 The 30-year yield reached around 5.70%, also a 24-year high
🖤 The 2-year yield rose only slightly, hovering around 4.84%

📈 Markets are separating two issues: the Fed may not raise rates in October, but long-term yields are still being pushed higher by inflation concerns and heavy Treasury supply.

@BackcomGlobal

💰 BITCOIN BREAKS BELOW $83,000: OVER $400 MILLION IN LONG POSITIONS LIQUIDATED IN ONE HOUR

🟢 Bitcoin dropped toward $83,000 during a sharp sell-off. In roughly one hour, total liquidations across the market exceeded $400 million, with 97% coming from long positions.

📉 This is a leverage flush, not confirmation of a bottom. Watch whether Bitcoin can hold the $83,000 level or faces further downside.

@BackcomGlobal

📈 OKB SURGES NEARLY 10% AFTER OKX RECEIVES INVESTMENT FROM CIRCLE, RIPPLE AND STANDARD CHARTERED

🤑 OKX’s exchange token jumped nearly 10% after news that OKX raised additional funding at a $25 billion valuation, unchanged from its March round.
👉 Who invested:
🟡 Circle, Ripple and Standard Chartered’s SC Ventures.
🟡 London-based quantitative investment firm Qube Research & Technologies.
🟡 This round follows an investment of around $200 million in March from ICE, the owner of the NYSE, at the same valuation.

The valuation has not increased, but the investor lineup includes players in stablecoins, banking and U.S. stock exchanges. That is what drove buying interest in OKB.

@BackcomGlobal

🔥 RUSSIA OPENS OVER 220,000 DIGITAL RUBLE ACCOUNTS IN THE FIRST MONTH, NEARLY FOUR TIMES THE FORECAST

🏦 The Bank of Russia said citizens opened more than 220,000 digital ruble accounts in the first month following the September 1 launch. It had previously forecast only around 60,000 accounts for the entire year.
🟣 The first month’s total was nearly four times the full-year forecast.
🟣 Access is currently limited to Russian citizens aged 18 and over through selected major banks.
🟣 All banks with a full banking license are expected to connect next year.
🟣 A service for registering account-linked payments will launch in November.
⭐ Since October 1, the Finance Ministry has paid some employees in digital rubles on a voluntary basis.

🇷🇺 Russia is pushing ahead with its CBDC after being cut off from parts of the Western payments system. Commercial banks remain opposed, arguing that existing digital payment services are already sufficient.

@BackcomGlobal

🔥🔥🔥 18:00 UTC TODAY (OCTOBER 7): FED RELEASES SEPTEMBER MEETING MINUTES

🔴 The minutes of the September FOMC meeting will be released at 18:00 UTC on October 7. Markets are awaiting the document after weak jobs data sharply reduced the odds of an October rate hike.
📈Markets will watch for:
🖤 Whether the Fed still wants further rate hikes this year or considers September’s hike sufficient.
🖤 What the committee says about oil-driven inflation and long-term yields at a 24-year high.
🖤 Whether estimates of the neutral interest rate have risen.
🖤 Any divisions between those favoring further hikes and those preferring to wait for more data.

Following the weak NFP report, the probability of an October rate hike has fallen to around 20%. These minutes will indicate whether the Fed’s internal views align with that market interpretation.

@BackcomGlobal

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🔥 U.S. GOVERNMENT WALLET TRANSFERS 833.6 BTC TO COINBASE PRIME, MOVES 40,285 BNB TO ANOTHER WALLET

🟢 A wallet linked to the U.S. government has just moved around $103 million in crypto. The market showed little reaction.
🖤 833.6 BTC, worth approximately $71.6 million, was sent directly to Coinbase Prime.
🖤 40,285 BNB, worth approximately $31.6 million, passed through several intermediary wallets before reaching 0xBE7…81E.

🇺🇸 The amount moved represents only a very small portion of its holdings. Sending BTC to Coinbase Prime is often interpreted as preparation for asset management or a sale, but neither purpose has been confirmed.

@BackcomGlobal

📉BTC SLIDES BACK TO $83,000, GOLD BRIEFLY TOUCHES $4,000

🔴 Bitcoin continued its decline toward $83,000. Gold briefly fell to $4,000 before rebounding to around $4,130.

🖤 The Fed’s September meeting minutes showed most participants still favored another rate hike before year-end.
🖤 All 19 officials supported September’s rate hike. Inflation risks remained tilted to the upside.
🖤 Yields and the U.S. dollar gained support, while non-yielding assets and crypto came under pressure.
🖤 Gold rebounded from $4,000 to $4,130, but has yet to erase the sell-off.

The Fed has not committed to an October rate hike, but the minutes still leave another hike this year on the table. That is putting downward pressure on BTC and gold.

@BackcomGlobal

🇺🇸 U.S. GOVERNMENT MOVES ANOTHER 5,382 BTC TO COINBASE PRIME — A SALE OR JUST A CUSTODY TRANSFER?

🔊 Since last night, wallets linked to the U.S. government have transferred another 5,382 BTC, worth approximately $448 million, to Coinbase Prime.

⏱️ Over 32 hours, around $670 million in seized crypto left government wallets:
🟣 6,215.7 BTC, worth approximately $520 million
🟣 119 million USDT
🟣 40,285 BNB, worth approximately $31.6 million
🖤 All BTC and USDT went to Coinbase Prime. The BNB was transferred to another wallet.

Coinbase Prime has been the U.S. government’s crypto custody and trading partner since 2024. These transfers may simply be for asset management and do not confirm that the assets have been sold. Even so, the news is enough to weigh on market sentiment.

@BackcomGlobal

📱 SAMSUNG BRINGS USDC TO 82 MILLION GALAXY DEVICES IN THE U.S., POWERED BY SOLANA

📱 Samsung is partnering with Solana to integrate stablecoins into Samsung Wallet. Starting in the final week of October, Galaxy users in the U.S. will be able to send money across borders using USDC.
🖤 Launching on approximately 82 million eligible Galaxy devices in the U.S.
🖤 USDC will be the first supported stablecoin. Recipients in more than 60 countries can receive funds in their local currency.
🖤 Transactions take place directly within Samsung Wallet, with no separate crypto app required. Solana powers the service behind the scenes.
🖤 Coinbase and Bastion will help operate the USDC service. Samsung says it will expand to more markets where regulations permit.

🖤 This brings stablecoins into mainstream mobile wallets, beyond crypto exchanges.

@BackcomGlobal

🚨 TOM LEE: BITMINE WILL STOP BUYING ETH ONCE IT HOLDS 5% OF THE SUPPLY

🔴 BitMine Chairman Tom Lee said at Token2049 that 5% is a hard cap. The company will not buy ETH beyond that threshold.

- BitMine currently holds 6,016,414 ETH, approximately 4.9% of the supply.
- It needs roughly 100,000 more ETH, equivalent to 6–7 weeks at its current buying pace.
- Lee said the target was expected to take five years, but was reached in just over a year, during a bear market.
- After reaching 5%, BitMine will stop raising capital to buy ETH, continue staking and may sell staking rewards to stay below the cap.

🔷 The largest corporate ETH buyer is about to stop buying. The steady demand it has provided since mid-2025 will disappear.

@BackcomGlobal

🔥🔥🔥 FED MINUTES: MOST OFFICIALS STILL FAVOR ANOTHER RATE HIKE BEFORE YEAR-END

🔴 Minutes from the September 15–16 FOMC meeting showed that most Fed officials considered one more rate hike before year-end appropriate. The timing remains undecided.
🔴 All 19 participants supported September’s rate hike, bringing rates to 3.75–4%.
🔴 Most still left the door open to another hike in 2026.
🔴 Inflation risks were tilted to the upside. Many saw a case for raising rates from a risk management perspective.
🔴 The next decision depends on incoming data, with no commitment to an October hike.

Weak jobs data pushed the probability of an October rate hike lower. The minutes show that Fed officials have not abandoned the idea of another increase this year.

@BackcomGlobal

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📈 U.S. TREASURY YIELDS AGAIN HIT THEIR HIGHEST LEVEL SINCE 2002

🟢 U.S. Treasury yields continued to rise, with both the 30-year and benchmark 10-year yields reaching their highest levels since 2002.
👉 Yield levels:
🖤 30-year: 5.708%
🖤 10-year: 5.324%

✔️ What is driving the bond sell-off:
🖤 Fed minutes showed most officials still favored another rate hike before year-end.
🖤 Oil prices rose again, fueling inflation concerns.
🖤 The U.S. dollar strengthened, pushing gold to a nearly two-month low.

Long-term yields are rising despite lower odds of an October Fed rate hike. Markets are pricing in inflation and bond supply, not just a single meeting.

@BackcomGlobal

📉 BTC PLUNGES TO $80,400 BEFORE REBOUNDING TOWARD $82,000: $1.2 BILLION LIQUIDATED

🔴 Bitcoin fell to $80,400 overnight before recovering to nearly $82,000 this morning. Total market liquidations reached around $1.2 billion over 24 hours, with long positions accounting for approximately 89%.
🖤 The sell-off primarily flushed out leveraged longs, rather than liquidating both sides.
🖤 Nearly 190,000 accounts had positions liquidated.
🖤 ETH was also caught in the sell-off, briefly falling to around $2,400 before rebounding.
🖤 BTC broke below the buying zone around $81,000. The next liquidation cluster being watched is near $75,000.

💰 This is a major long liquidation flush, not yet confirmation of a bottom. Watch whether the price can hold $80,000 or faces further downside.

@BackcomGlobal

🇺🇸 U.S. GOVERNMENT WALLET MOVES 12,267 BTC FROM THE BITFINEX CASE, WORTH AROUND $1 BILLION

💳 A wallet linked to the U.S. government has transferred 12,267 BTC, worth approximately $1.01 billion, from Bitcoin seized in connection with the 2016 Bitfinex hack. Almost all of it went to a new, unlabeled address.

🟣 The transaction took place at 9:33 a.m. New York time on October 8. No transfer to an exchange was observed.
🟣 This BTC was part of roughly 94,000 BTC seized in 2022 from Ilya Lichtenstein and Heather Morgan.
🟣 Unlike earlier transfers to Coinbase Prime, this move looks more like an internal wallet transfer than a sale.
🟣 A March 2025 executive order requires seized Bitcoin to be placed in the strategic reserve rather than sold.

🖤 A wallet transfer does not mean the assets have been sold, but the series of successive moves is still enough to weigh on sentiment after BTC was recently driven down toward $80,000.

@BackcomGlobal

🔥 FRANCE PROPOSES TAXING CRYPTO-TO-STABLECOIN SWAPS, ALLOWING LOSSES TO BE CARRIED FORWARD FOR 10 YEARS

🇫🇷 The Finance Committee of France’s National Assembly has approved an amendment to the 2027 budget bill that would tax gains from crypto-to-stablecoin swaps, even without cashing out into euros or U.S. dollars.
- Tax would arise when swapping into a fiat-pegged stablecoin, rather than waiting until cashing out.
- Losses not fully offset during the year could be carried forward to offset gains from the same asset class over the next 10 years.
- The changes are expected to apply from 2027. The current crypto capital gains tax rate is approximately 31.4%.
- The committee also approved an exit tax for people holding more than €800,000 in crypto who leave France.
- A proposal to impose a personal wealth tax on crypto was rejected. These measures are not yet law and must still pass further parliamentary stages.

Swapping into stablecoins would no longer be a way to defer tax. The benefit for holders is that losses could be carried forward for 10 years.

@BackcomGlobal

🔥🔥🔥 TRUMP SAYS HE WILL CALL PUTIN, KREMLIN HAS YET TO CONFIRM THE TIMING

🇺🇸 President Trump said he has arranged a phone call with President Putin, expected to take place very soon. The Kremlin said the timing has not yet been agreed upon, but it will arrange the call if the U.S. takes the initiative.

📌 Topics mentioned:
🟣 The focus is the death of an employee at a plague research institute in Irkutsk, Siberia.
🟣 Russia is investigating. Pneumonic plague has not been confirmed as the cause. Local officials described it as pneumonia of unknown origin.
🟣 The WHO assessed the risk to communities outside Russia as very low and requested full disclosure of information from Russia.
🟣 Trump said the U.S. does not believe this involves a biological weapon, but Russia has said little.

⚡️ Markets will pay more attention to what emerges from the call than whether it takes place, particularly any signals on Ukraine and sanctions. The deadline to finalize the Russia sanctions list under the Graham Act is October 18.

@BackcomGlobal

🚨 MUSALEM: FED NEEDS FURTHER TIGHTENING AS INFLATION REMAINS HIGH

🚨 St. Louis Fed President Alberto Musalem said inflation remains high and further tightening is needed to bring it back to the 2% target. He has not yet decided his position for the October meeting.
🔴 Key points:
🖤 “Further monetary policy tightening is needed to bring inflation back to target in a timely manner.”
🖤 To reach 2% within roughly 18 months, interest rates should rise further over the next 6–9 months.
🖤 He approaches each meeting with an open mind and has not decided his stance for October 27–28. He is not a voting member this year.
🖤 The economy remains strong and the labor market is balanced. Businesses are more concerned about inflation than employment.
🖤 Rising yields partly reflect interest rate expectations, AI investment and the budget deficit. He said the U.S. debt trajectory is unsustainable.

His tone reinforces the case for a rate hike before year-end, although rates could still remain unchanged in October.

@BackcomGlobal

🔥🔥🔥 TRUMP RULES OUT ATTACKING IRAN BEFORE THE ELECTION, SAYS TALKS ARE PROGRESSING

✊ President Trump said the U.S. will not attack Iran before the November 3 midterm elections, adding that both sides are holding productive discussions to end the war.
🖤 “We will not attack Iran at any point before the midterm elections.”
🖤 The blockade of Iranian ports remains in place. Trump said large volumes of oil are still flowing through Hormuz.
🖤 A day earlier, the Pentagon was instructed to prepare options for resuming major military operations. Trump had considered launching strikes before the elections.
Oil fell around 2% following the announcement as 🖤the near-term war risk premium eased.

🖤 Trump has verbally ruled out an attack before November 3. Risks after the elections and around the Strait of Hormuz remain.

@BackcomGlobal