U.S. CFTC Acting Chairman: Enforcement Division Restructured, Refocused on Combating Fraud

Bankless founder David Hoffman said in a post that a daily closing price of Bitcoin (BTC) above $86,600 would send a strong bullish signal, while a daily close above $87,400 would make him extremely bullish.

Bitcoin ecosystem firm Matador Technologies released a corporate update on October 2, noting it currently holds roughly 168 BTC and funds its Bitcoin treasury via common stock and secured convertible bonds. The announcement states Matador has issued senior secured convertible bonds with a total principal of $10.5 million under its $100 million secured convertible bond facility, with the remaining $89.5 million eligible for drawdown in tranches once regulatory approvals and other conditions are met. Separately, the company’s current average monthly cash operating expenditure stands at approximately CAD 125,000, and it plans to further cut this to around CAD 100,000 per month. Shareholders will vote on the creation of a new class of preferred shares on October 14.

According to market data from BIT (Bit.com), at the opening of U.S. stock markets, the Dow Jones Industrial Average rose 0.62%, the S&P 500 gained 0.9%, and the Nasdaq increased 1.2%. Storage chip stocks showed mixed performance: Seagate Technology (STX.O) fell 14%, Western Digital (WDC.O) dropped 9.8%, and Rambus (RMBS.O) rose 3%. Tesla (TSLA.O) climbed 2.3% as its third-quarter delivery figures exceeded expectations.

Annex Wealth Management chief economic strategist Brian Jacobsen noted that the U.S. labor market is not as strong as initially thought. July’s jobs data was revised to show negative growth; August saw a solid rebound, but that momentum abruptly halted in September, with only 29,000 jobs added. The employment diffusion index fell back below 50. Fed Chair Waller had previously expressed concern about the breadth of inflation, but now he will have to consider the lack of breadth in the labor market. This data supports a pause in interest rate hikes in October. (Jinshi)

Non-farm payroll data further reinforced the view that momentum in the U.S. labor market is cooling. According to the CME Group’s FedWatch Tool, traders currently assign an 83% probability that the Federal Reserve will hold interest rates steady at its October meeting, up from 72% before the jobs report was released; the probability of a rate hike has fallen from 28% to 17%. Rate hike expectations have also cooled. Current federal funds futures pricing shows the market expects the Fed to deliver a cumulative total of around 22.2 basis points of additional rate hikes by the end of 2026, down from 25.5 basis points before the data release. (Jin10)

Per Lookonchain’s monitoring, trader 0xd9A2 opened a 20x leveraged long position on 2,900 ETH via Aster DEX, with the position valued at roughly $7.97 million. The position’s unrealized profit has now exceeded $1 million, delivering a 251.68% return.