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U.S. stocks closed higher on Wednesday, with technology shares strengthening, Dell surging, and oil prices stabilizing. U.S. Treasury yields approached 5%, and global stock markets may face a 5%-8% correction. Trump said the strikes on Iran would end soon and that the Strait of Hormuz would be renamed the Trump Strait. The former British prime minister warned that failure to control debt would force emergency spending cuts. The Beige Book said the U.S. economy grew moderately, with AI and data centers serving as key supports. Tron’s USDT supply surpassed Ethereum’s for the first time. Broadcom’s Q3 results exceeded expectations, and its AI revenue guidance was raised. Robinhood Chain generated $3.75 million in daily fees, exceeding the combined total of Solana, ETH, and Base.

VanEck says Bitcoin is in the early stages of a bull market, with a target market capitalization of approximately half that of gold, or around $500,000 per bitcoin; if it captures a significant share of global energy trade by 2050, its price could reach $3 million. Institutional funds continue to flow in, increasing Bitcoin’s correlation with gold, while mining companies benefit from scarce electricity resources in the AI economy. Regarding the risks of quantum computing, the community is already responding, so they are not a reason to sell.

According to Liquid24/7.xyz, the Hyperliquid address 0x7fdafd...17d1 is currently short 33,717.52 ETH, with a notional value of approximately $90.35 million, and short 448.65 BTC, with a notional value of approximately $37.93 million. The current prices are $2,679.60 for ETH and $84,547 for BTC. The average entry prices for the short positions are approximately $2,642.84 for ETH and $84,469 for BTC, with a combined unrealized loss of approximately $1.2742 million. Source: ChainCatcher.

Ki Young Ju analyzed that Bitcoin’s bull market has begun and is in the early stages of a new cycle. Traditional channels such as ETFs have become major sources of liquidity, while slower selling by long-term holders and continued capital inflows have helped BTC return to its annual moving average of $83,000 in late September. As the market expands and institutional participation increases, volatility is expected to decline in the future, with gains potentially reaching 3 to 5 times rather than the 10x levels seen in previous cycles. To determine whether the market is overheated, attention should be paid to on-chain activity, such as whale deposits and retail participation, rather than price alone. Although the four-year cycle theory remains controversial, miner costs and the halving mechanism still offer useful reference points.

Greek police have dismantled a cryptocurrency investment scam ring and arrested 17 people, including 9 military personnel. A preliminary investigation showed that approximately 10,000 people participated, with an average investment of 800 euros and total funds involved exceeding 8 million euros. The group operated by recruiting new members to obtain high returns, exhibiting characteristics of a pyramid scheme. It had recently frozen withdrawals and claimed that investors could receive double returns within 50 days after doubling their principal. Police have seized approximately 280,000 euros, and the investigation is ongoing.

ME News, October 3 (UTC+8) — Bitwise CEO Hunter Horsley announced in a post on X that he had just personally purchased the Bitwise NEAR ETF, but did not disclose the specific amount. Hunter Horsley previously disclosed that investors bought NEAR during this week’s pullback. Net inflows into the Bitwise NEAR ETF reached approximately 900 on its third day of listing.

Moonrock Capital CEO Simon Dedic called out and criticized Pacman, the founder of NFT marketplace Blur and layer-2 network Blast, in a post on X, questioning his choices. Dedic said Pacman did not leverage Blur and Blast’s market positions and top-tier investors to build a larger, long-term product, but instead pursued short-term value extraction and quick profits. He believes such cases are not uncommon, emphasizing the need to focus on those who refuse to take the path of least resistance and remain honest builders, and said he would continue to be bullish.

ME News reported on October 3 that Ozzy, the founder of Pons, responded to community concerns about the buyback-and-burn mechanism, stating that the burn rate has not yet been adjusted and that Claim is not yet fully decentralized. After the on-chain contract upgrade, a seven-day cycle will be implemented: seven days for Claim, followed by seven days of using the funds to buy back and burn PONS, with the cycle repeating. At this stage, the buyback and burn process is automated. The funds total approximately $950,000, which is consistent with the cycle, and anyone can trigger the bot to receive a small reward. Analyst yyy said that approximately $440,000 in funds awaiting claims are held in a custodial account and called for decentralized claiming.

ME News reported that on October 3 (UTC+8), Elon Musk posted on X in response to rumors of a partnership between his chip company Terafab and TSMC. He said the two sides had only held relevant discussions, but there might be results. Musk previously announced that the “Terafab” project would be jointly operated by Tesla and SpaceX and based in Austin, with the goal of reaching one trillion watts of computing capacity annually, most of which must be used in the space sector. The project’s initial investment is $16.8 billion. (Source: ODAILY)

NEAR co-founder Illia posted on X that a large number of developers have recently been building on NEAR, with the key being “what to build” and how to gain user distribution. Ideas include verifiable Tamagochi based on NEAR AI, Universal Checkout, AI encyclopedia prediction markets, private over-the-counter trading, automated strategies, event fund escrow, private code reviews, equity financing management, Delta Neutral, private social networking and medical AI second opinions, private voice transcription, and AI evaluations using private test sets. He also suggested gaining exposure through NEAR Legion, Aurora Intent Connect, the community, Product Hunt, and X.

Illia pointed out that a large number of developers have recently emerged in the NEAR ecosystem, with more user-friendly tools and a focus on building products and user distribution. Potential directions include AI Tamagotchi, general-purpose payment components, on-chain event registration and escrow, Never get liquidated, prediction markets/AI encyclopedias, Delta Neutral strategies, private transactions and copy trading, as well as private enterprise use cases such as code review, equity management, and private healthcare. The ecosystem’s influence is also being expanded through channels including NEAR Legion, Aurora Intent Connect, Shopify, Product Hunt, and X.

Analysts such as Darkfost point out that stablecoin market capitalization has not yet recovered significantly because of insufficient liquidity entering the crypto market. Since May, total stablecoin market capitalization has fallen by approximately $14 billion, with large-scale capital outflows. It has recovered slightly since September, rising to approximately $270 billion, up about $4 billion from the previous period. Although there are signs of a trend reversal, the recovery remains limited. More liquidity still needs to enter the market for BTC to reach new highs.

ME News, October 3 (UTC+8) — The U.S. Department of Justice will not reopen a criminal investigation into former Federal Reserve Chair Jay Powell related to the Federal Reserve’s $2.5 billion renovation project. A previous investigation by the central bank regulator had found no criminal wrongdoing by the former chair. (Source: BlockBeats)

Killa predicts BTC’s high for this year will reach $97,000. It may consolidate below $97,000 in the future, but the rally could be more parabolic and begin sooner. Key support lies at $80,000–$83,000; a break below it would point to $74,000–$77,000, which could become a panic bottom. If the rally continues, a pullback may reach only the low $80,000s before another push higher. He has a 10x leveraged long position at $83,500 and may add to his spot holdings and long positions if panic emerges in the fourth quarter.

Due to the Magic Eden security incident, Revoke.cash reminds users to check for yellow warnings in the Auto-Revoking module on the account page. If there are any, first use another wallet to revert the address to a regular account, then upgrade it to a smart account with MetaMask, and ensure that all networks are enabled and the wallet is authorized.
Ultimate subscribers must complete both steps: authorize Auto-Revoking in MetaMask and upgrade the wallet to a smart account on that network. If the upgrade was previously completed using another wallet, the upgrade may fail.

CME Group shelves its 24/7 crude oil futures plan after opposition from industry participants. The market is concerned that insufficient weekend liquidity could distort WTI pricing, while continuous trading would increase pressure related to weekend staffing, hedging, and margin requirements outside regular trading hours. CEO Terry Duffy said that core participants were broadly concerned that launching the product without sufficient due diligence could trigger unforeseen consequences and increase market risks. Source: ODAILY.

Huatai Securities said September nonfarm payroll growth came in below expectations, with the three-month average increasing by 51,000, close to equilibrium, while the unemployment rate remained low, indicating that the labor market is solid but not overheated. Wage growth slowed in September and real income declined, suggesting that household consumption may struggle to sustain its strong performance in August. Looking ahead to October, NFIB hiring intentions are relatively weak but may rebound later; under the baseline scenario, a rate hike in October is unlikely, while another hike may occur in December.

ME News reported on October 3 (UTC+8) that, according to MyToken data, $806 million worth of cryptocurrency futures positions were liquidated across the market over the past 24 hours. BTC liquidations totaled $282 million, ETH liquidations totaled $178 million, SOL liquidations totaled $36.6513 million, and XRP liquidations totaled $24.3435 million. (Source: MyToken)

ME News reported on October 3 (UTC+8) that Nevada opposed Kalshi’s request to delay proceedings before the U.S. Court of Appeals for the Ninth Circuit pending rulemaking by the U.S. Commodity Futures Trading Commission. The state said that the court’s previous determination that the contracts at issue were not swaps was based on the text, context, and legislative intent of the Commodity Exchange Act, and that CFTC rulemaking would not change this conclusion. Nevada also said that the request would extend what it called Kalshi’s illegal operations. (Source: ODAILY)

According to Axios, on October 3, several of Trump’s key Cabinet members held a closed-door meeting at Camp David to discuss next steps in the war with Iran and the conflict with Yemen’s Houthi militants. The meeting was not publicly announced and such meetings are extremely rare. Attendees included the vice president, secretary of state, secretary of defense, and heads of intelligence agencies. Officials said decisions had already been made or were discussed in depth. Trump said that disclosing the details would be major news, suggesting that the situation was progressing favorably and that Iran was in a difficult position.