Cheeky Monday Update

Hey folks—new week ahead, new opportunities to question our life choices. We dont Usually send out newsletters on monday but let's see what's (supposedly) happening.

Macro

Thrilling news: not much on the economic front. Plenty of Fed speeches and other snooze-worthy stuff, but let's not pretend they're game-changers.

Canada will announce their interest rate decision. Hold your excitement. Unless you're trading maple syrup futures, it's probably not a crypto catalyst.

About 15% of the S&P 500 companies are reporting earnings this week. The headliner? Tesla drops its earnings on Wednesday after market close. Maybe Elon will tweet something to spice things up.

BTC ETFs

Last week was a love fest for BTC ETFs—lots of inflows, everyone feeling warm and fuzzy.

Even ETH ETFs got some decent inflows. It's like they almost matter.

These inflows kept BTC above $68k while altcoins bled out, pushing BTC dominance to multi-year highs. Will this continue? Maybe. I'd love to see some capital rotate from BTC to alts—spread the wealth, you know? PS so far spot Bitcoin exchange-traded funds (ETFs) bought 6,573 BTC in the last week, while miners only generated 3,150 BTC.

Cosmoverse—Watch Those Cosmos Tokens

The biggest Cosmos event kicks off on October 21st in Dubai. Because where else would a decentralized conference happen?

No concrete info yet, but here are the tokens on our radar:

- ATOM - TIA - KUJI - ASTRO - INJ

Catalysts for Individual Tokens

- Thorchain's founder is teasing a major announcement. Details? Nonexistent. Token: RUNE.

- Mantle's restaking token cmETH is rumored to launch soon, and the COOK token might drop on October 23rd. Not confirmed—just fueling the rumor mill. Token: MNT.

- Nakamoto Games is launching NakaWallet on October 22nd. They're calling it the PayPal of crypto. Token: NAKA.

USDT Market Cap Hits Record $120B! 🚀

On October 20, Tether’s USDT surpassed the $120B market cap for the first time.

This surge is viewed as a bullish signal for BTC, fitting nicely into the “Uptober” narrative. More stablecoin supply often hints at fresh money ready to dive into crypto.

RSI DAILY Heatmap

Crypto Market RSI Heatmap: Overbought and Oversold Tokens

So, you took a peek at that fancy chart we provided—a Crypto Market RSI Heatmap that visualizes tokens by their RSI (Relative Strength Index). For those who aren't fluent in trader jargon, here's the deal:

- Overbought (RSI > 70): The token might be overvalued and due for a correction. In other words, the party could be ending soon.

- Oversold (RSI < 30): The token might be undervalued and could experience a price rebound. Or not—who knows?

Oversold Tokens (RSI < 30):

- FIO - LOKA - MKR - HMSTR - BNX

Overbought Tokens (RSI > 70):

- DOGE - ALPHA - AXL - API3 - AGLD

Note of Caution:

A hefty number of tokens on this chart are strutting around in the overbought territory (RSI above 70). Translation: Many assets might be gearing up for a correction soon. So, if you're thinking about throwing your hard-earned cash into these overhyped tokens, maybe pump the brakes a bit. Always manage risk appropriately—unless you're into financial roller coasters.

---

Stay sharp out there. The crypto market doesn't come with seatbelts.


Want to earn a pro newsletter subscription? Invite your friends to join and we will reward the top referrers with an awesome gift!

Want exclusive insights like this to stay ahead?

Head to Unhosted.ai to learn more.