Bitcoin hits resistance at $116,000, and bulls might not clear the barrier until Wednesday’s Fed announcement on interest rates and this week’s resolution of the US-China trade war. Key points: Bitcoin traders’ ability to overcome price resistance at $116,000 could hinge on Wednesday’s Fed decision on interest rates and this week’s US-China trade summit. Pro traders are distributing into BTC price rallies while retail-sized investors are buying the dips in spot, and also being liquidated in futures. Read more
After a September decision from a US regulator paved the way for Polymarket's return, the company is reportedly only weeks away from an initial relaunch. Prediction platform Polymarket is reportedly eyeing launching trading services in the United States in a matter of weeks. According to a Tuesday Bloomberg report citing people familiar with the matter, Polymarket plans to initially launch limited trades available to US residents before the end of November, with an emphasis on sports betting. The relaunch report came about two months after the US Commodity Futures Trading Commission (CFTC) said it had issued a no-action letter to a crypto derivatives exchange and clearinghouse acquired by Polymarket. This move set the stage for the company to “go live in the USA,” according to CEO Shayne Coplan. Read more
A strong first-day haul positions Bitwise’s Solana fund as a test case for US appetite toward staking-based crypto ETFs after new SEC clarity. Investor appetite for staking-focused exchange-traded funds (ETFs) in the United States appears strong, with Bitwise’s new Solana product seeing substantial inflows on its first day of trading. The Bitwise Solana Staking ETF (BSOL), which began trading on Tuesday, has already attracted roughly $222.8 million in assets, according to Bloomberg Intelligence senior ETF analyst Eric Balchunas. Balchunas characterized the size as significant for a newly launched crypto ETF, indicating increasing institutional engagement and confidence in staking strategies. Read more