Steady recovery for crypto assets

Market snapshot – Dip buyers show their hand

Crypto prices have started the week on a stronger footing, continuing the bounce from the lows seen on Thursday. Last week’s selling intensified until Friday, when the buyers emerged. What we saw in mid-September was likely just a normal pullback within a rising trend, and it certainly seems that a new leg higher is underway in the space. This recovery comes even as gold steals the headlines with a move to fresh highs, 

In the news – Blackrock pushes the envelope in crypto ETFs

Blackrock’s premium income ETF is yet another sign of institutional expansion into the space, and marks yet another departure from its more cautious attitude to the sector in years past. A faster approval process from the US SEC is bound to drive more activity in this space too.

What we’re watching – US government shutdown risks and Payrolls

It promises to be another US-focused week for global markets. The latest data on the job market will be a key driver of volatility, especially with expectations around an October rate cut in the US running around 90%. But the prospect of another government shutdown in Washington is a reminder for crypto investors that the US remains unable to get a firm grip on its finances, raising the appeal of such alternative assets.