Uptober Is Here: Now Buckle Up for Q4
ATHs incoming? Rate cuts locked, gold pumping, Trump teasing stimmys, and SOL ETFs on deck. The next leg up is here and Q4’s about to get wild.
Howdy Hodlers,
October 1st hit and boom… Bitcoin ripped back above $120K. 🚀
Just a little appetizer of what Uptober’s cooking up for the weeks ahead.
We’ve been calling it for weeks…
The next leg up is here, and new ATHs are literally around the corner.
Think days, not months.
The “top is in” crowd?
Yeah, they’re starting to eat their words.
Here are 3 fresh receipts from this week proving moon season’s still right on track:
1. Rate Cuts Locked In
The weak jobs report sealed the deal - Powell’s cornered. More cuts are coming, liquidity’s inbound, and markets know it.
2. Gold’s Pumping
And when gold pumps, Bitcoin doesn’t sit still. The correlation is back in play and BTC is gearing up to follow shiny metal big brother higher.
3. Stimmy Checks 2.0? 💵
Rumor mill says Trump’s considering handing out stimulus checks from tariff revenue. Midterms are near, voters like free money, the time checks hit mailboxes (think Covid)… Bitcoin went parabolic.
Now, quick reality check.
Remember also last time we had free money how Terra/Luna imploded and dragged us into crypto winter?
Well, we’ve mentioned DATs (Digital Asset Treasuries) might be the next ticking time bomb, but now there’s a new contender in town.
It’s the stablecoin darling USDe…
It’s raising some eyebrows as a potential Luna 2.0 setup.
Not panicking yet, but we’re watching it closely.
Meanwhile, let’s talk trades.
Solana [SOL]
We’re loading up. All eyes on the first SOL ETFs. Word is approvals could drop as soon as October - except, well, the government decided to shut down. Skeleton crew at the SEC means delays, but Bloomberg’s Eric Balchunas says it’s a matter of “when, not if.”
Translation: once DC turns the lights back on, SOL ETFs are inbound.
And it won’t stop at Solana.
The ETF pipeline is stuffed with apps for everything from ETH to meme coins (yes, even DOGE). Morningstar’s Bryan Armour called the Dogecoin ETF “dangerous” and compared it to trading Beanie Babies, but c’mon, when has Wall Street ever met a bubble it didn’t want a piece of?
So buckle up.
Between rate cuts, ETF mania, and even stimmy rumors, Q4 is looking spicy! 🌶️
Hodl Headlines
The Week’s Most Interesting News
Vanguard Explores Crypto ETFs: Vanguard is reportedly considering a reversal of its longtime anti-crypto stance by allowing brokerage clients to invest in third-party crypto ETFs. This potential shift reflects rising client demand and evolving regulatory norms in traditional asset management.
UK Weighs Keeping $6.4B in Seized Bitcoin: British officials are debating whether to retain the gains on 61,000 BTC seized from a major fraud (valued at roughly $6.4 billion), rather than distributing full current value to victims. The decision could redefine asset recovery norms.
Smartest Man Alive Converts Entire Net Worth to Bitcoin: In a widely shared interview, investor Mark Cuban (dubbed “smartest man alive” by some) claims that he now has 100% of his net worth in Bitcoin, citing belief in its long-term store-of-value.
Tether Wallet Holds 8,888 BTC as Bitcoin Reserve: Tether now holds 8,888 BTC in a designated reserve wallet, reinforcing its transparency narrative and backing for USDT. The stash is one of the larger disclosed stablecoin reserve allocations.
Bitcoin Core Project Development Updates Progress: The Bitcoin Core team has posted updated development notes covering network upgrades, bug fixes, and consensus layer roadmap progress. The summary underscores ongoing community efforts to maintain BTC’s resilience.
Rate Cut Odds Hit 100% After Weak ADP Job Report: Markets now fully price in a Fed rate cut in October, following a disappointing ADP jobs report. The turn could give crypto assets additional upward momentum in the near term.
U.S. Treasury Eases Crypto Tax Rules, Reducing Pressure: New changes from the Treasury reduce tax burdens on small-scale Bitcoin trades and narrow reporting requirements for crypto users. The updates aim to make Bitcoin more accessible without major compliance hurdles.
Big thanks for making it to the end of this week’s Hodl Report! 👊
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Happy Friday!
Disclaimer: The content from Hodl Report should not be taken as trading, investment or financial advice or solicitation to buy or sell any assets. This newsletter is for informational and educational purposes only. Please be careful out there and DYOR (do your own research)