Briefs · Evening brief
Bitcoin closed the U.S. session at $81,797.60 on Coinbase, 1.71% below Tuesday, after a hotter September CPI print; Cipher Digital priced $850.0 million of 0.00% converts due 2032; and the European Banking Authority classified Circle's USDC as the EU's first significant e-money token under MiCA.
Bitcoin closed the U.S. session at $81,797.60 on Coinbase, 1.71% below Tuesday's close and 1.78% below its 6:22 a.m. ET level, after September CPI printed hotter than August. Ether finished at $2,431.88 (−2.99%) and solana at $104.22 (−3.02%). [1][3][8]
Majors peaked as CPI hit at 8:30 a.m. ET, then sold. Crypto equities fell harder than the coin: IREN −12.18%, HUT −10.45%, Strive (ASST) −10.55%. [1][6][7]
Coinbase 4:00 p.m. ET one-minute candles vs Tuesday's 4:00 p.m. ET candle and the 6:22 a.m. ET ticker. [1][3]
| Asset | 4:00 p.m. ET close | vs Tue close | vs 6:22 a.m. ET |
|---|---|---|---|
| BTC-USD | $81,797.60 | −1.71% | −1.78% |
| ETH-USD | $2,431.88 | −2.99% | −2.64% |
| SOL-USD | $104.22 | −3.02% | −2.22% |
| XRP-USD | $1.3271 | −3.22% | −2.86% |
Bitcoin's 6:20 a.m. ET to 4:00 p.m. ET range was about 3.0% (high $83,858.78 at 8:30 a.m. ET; low $81,416.67 at 1:50 p.m. ET), wider than Tuesday's about 1.1%. [1]
Only HYPE finished above Tuesday among 34 liquid Coinbase USD pairs (+0.45%). OP (−7.99%) and FIL (−7.97%) led the day losers; FET fell 8.33% since 6:22 a.m. ET Thirty-one of 34 pairs fell after the morning print. [2]
| Coin | 4:00 p.m. ET close | vs Tue close | vs 6:22 a.m. ET |
|---|---|---|---|
| HYPE | $81.79 | +0.45% | +0.64% |
| ENA | $0.19638 | −6.80% | −6.62% |
| FET | $0.19719 | −7.32% | −8.33% |
| FIL | $1.0881 | −7.97% | −3.90% |
| OP | $0.1408 | −7.99% | −5.86% |
September CPI-U rose 0.6% m/m seasonally adjusted (August +0.4%) and 3.7% over 12 months (August +3.4%); core rose 0.3% m/m and 2.6% y/y. Gasoline (+9.1% m/m) accounted for over half of the monthly all-items increase. [8] S&P 500 closed 7,718.94 (−1.11%); Nasdaq Composite 26,692.87 (−1.88%). Treasury par yields: 2-year 4.82% (+3 bp vs Tuesday), 10-year 5.19% (−2 bp). [6][9]The Fed's Beige Book (info through Oct. 5) said Districts mostly reported slight-to-modest growth, with prices moderate in eight Districts and robust in three. [10]
OKX USDT perpetual swaps only, ~4:13 p.m. ET. Funding, the periodic payment between long and short holders, stayed modestly positive; next settlement is 8:00 p.m. ET. [4]
| BTC-USDT-SWAP | ETH-USDT-SWAP | SOL-USDT-SWAP | |
|---|---|---|---|
| Current-period funding | +0.004341% | +0.007608% | +0.002745% |
| Last settled (12:00 p.m. ET) | +0.007109% | +0.002019% | −0.000058% |
| Mark − index | −4.9 bp | −3.3 bp | −5.8 bp |
BTC's current rate is at its average over the last 100 settled OKX periods (mean +0.004208%); ETH's is above 87 of those 100 (mean +0.003336%). [4]
OKX liquidations since ~6:22 a.m. ET were long-heavy: $11.31 million BTC longs / $0.67 million shorts, $15.64 million ETH longs / $2.59 million shorts, and $3.76 million SOL longs / $0.26 million shorts, at bankruptcy price, clustered after CPI. [5]
Cash close 4:00 p.m. ET Wednesday vs Tuesday. [6][7]
| Ticker | Close | vs Tue | Note |
|---|---|---|---|
| COIN | $172.89 | −4.90% | Soft with the tape |
| MSTR | $143.24 | −5.87% | Soft with the tape |
| HOOD | $101.08 | −8.54% | Softest of the platforms |
| MARA | $8.23 | −9.66% | Weak among large miners |
| HUT | $74.87 | −10.45% | Soft |
| IREN | $30.56 | −12.18% | Softest of the group (Nasdaq) |
| XRPN | $15.26 | −7.40% | Nasdaq close |
| ASST | $24.68 | −10.55% | Strive; Nasdaq confirms |
01 · EBA classifies Circle's USDC as the EU's first significant e-money token under MiCA. An Oct. 14 EBA release says USDC, issued by Circle Internet Financial Europe SAS, is the first of 45 notified EMTs classified as significant. From Nov. 12, 2026, the EBA takes own funds, reserve, liquidity, and recovery and redemption plans from France's ACPR; ACPR keeps governance and fit-and-proper. [11]
02 · OCC releases its large-bank debanking report. NR 2026-90 says that between 2020 and September 2025, all nine largest OCC national banks had policies denying or limiting access based on political or religious beliefs or lawful business activities, and that many restricted digital-asset activities, including issuers, exchanges or administrators. Digital assets are one named sector among several; this is historical policy review, not a new ban. [12][13]
03 · Cipher Digital prices $850.0 million of 0.00% convertible notes due 2032. An 8-K at 7:49 a.m. ET Wednesday prices the Rule 144A deal at 65.3211 shares per $1,000 (about $15.31, a 35.0% premium to the $11.34 Oct. 13 close). Settlement is scheduled for Oct. 16, subject to customary conditions, with a greenshoe for up to $150.0 million more. About $89.7 million funds capped calls; a concurrent exchange covers about $165.9 million of 2030 notes for about 40.7 million shares. [14][15]
04 · Strive buys 2,822 bitcoin and clears its PIPE traditional warrants. An 8-K at 7:59 a.m. ET says that from Oct. 12 through Oct. 13, Strive purchased 2,822 bitcoin at an average of about $83,266, inclusive of fees, and that warrants for 13,674,703 Class A shares were exercised for expected gross proceeds of $369.2 million, leaving no PIPE traditional warrants outstanding as of Oct. 13 close. The 8-K does not state updated total holdings. SATS remains a preliminary 424B5. [16][25]
05 · Qivalis says it received Dutch EMI authorisation from DNB. The 37-bank euro stablecoin venture said Oct. 14 it was granted Electronic Money Institution authorisation by De Nederlandsche Bank and is eligible to issue euro EMTs, with issuance planned within months subject to MiCA and a white paper. It says it does not currently issue electronic money. Company release only; DNB register not independently confirmed here. [17]
Holding the Corner.
Not financial advice.