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Citigroup raises Bitcoin’s 12-month target price to $113,000, projects Ethereum will exceed $3,000.

1 hours ago

According to Forbes, Citigroup analysts have raised their 12-month Bitcoin price target from the prior $82,000 to $113,000, and projected Ethereum prices will surpass $3,000. The analysts pointed out that increasing allocations to crypto assets among investment advisors and brokerages will drive more capital into Bitcoin ETFs, forecasting that roughly $5 billion in inflows could come to Bitcoin ETFs in the near term. Currently, U.S. spot Bitcoin ETFs hold around $110 billion in assets under management (AUM) and approximately 1.3 million Bitcoin, with BlackRock’s IBIT holding over 800,000 of those coins. Citi noted that as institutional allocation capital continues to flow in, inflows to Bitcoin ETFs are expected to rise further.

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U.S. September non-farm payrolls missed expectations, Bitcoin briefly surged past $87,000.

US September non-farm payrolls missed expectations: seasonally adjusted non-farm employment rose by 29,000, below the market consensus forecast of 90,000. According to HTX market data, Bitcoin broke through $87,000, now trading at $87,002, with its intraday gain widening to 2.5%.

10 minutes ago

The total nonfarm payroll additions for July and August in the U.S. were revised down by 60,000.

U.S. Bureau of Labor Statistics: Nonfarm payroll additions for July were revised down from +21,000 to -10,000, while August nonfarm payroll additions were revised down from 162,000 to 133,000. The combined new employment figures for July and August are 60,000 lower than their pre-revision totals. (Jinshi)

10 minutes ago

After the release of Non-Farm Payrolls (NFP) data, US Treasury yields declined.

After the release of non-farm payroll data, the yield on the U.S. 30-year Treasury bond fell by 2.8 basis points to 5.575%. The 2-year yield dropped 7.7 basis points to 4.71%, and the 10-year yield declined 5.6 basis points to 5.18%. (Jinshi)

10 minutes ago

Analysts: The Non-Farm Payrolls (NFP) report has dampened market expectations of a Federal Reserve interest rate hike in October.

Allianz Chief Economic Advisor Mohamed El-Erian said the released U.S. jobs data came in as an unexpected set of figures: only 29,000 new jobs were added in September, the unemployment rate rose to 4.2%, and hourly wages grew just 0.1% month-over-month. Additionally, the employment numbers for July and August were revised down by about 60,000 jobs. On the supply side, the labor force participation rate climbed to 61.8%, a more positive development. Overall, this will further reinforce the impact of recent remarks from Federal Reserve officials—namely, that market expectations for a Fed rate hike in October are cooling. Source: Jinshi

10 minutes ago

Nasdaq-listed Hyperion DeFi, a treasury firm trading under the ticker HYPE, announced the launch of a share repurchase program.

Nasdaq-listed HYPE treasury firm Hyperion DeFi (Nasdaq: HYPD) announced the launch of a HYPD stock repurchase program, and has repaid approximately $8.6 million in legacy debt. Hyperion DeFi stated that it has repaid all outstanding principal and interest under its loan agreement with Avenue Capital. A portion of the debt repayment funds came from the sale of HYPE tokens. With the loan fully repaid, the company no longer has any long-term outstanding debt. Hyperion DeFi added that it recently raised its performance guidance and unveiled several new business initiatives; following debt clearance, the firm will have greater operational flexibility to expand its on-chain DeFi business and improve its capital structure.

10 minutes ago

Linea: MetaMask Incident Impacts Some Yield Boost Validators; Staking Vault Funds and Control Remain Unaffected

Linea officially announced that, amid the MetaMask staking incident, some validators supporting its Yield Boost vaults are exiting as a preventive measure. The blockchain project stressed that the funds and control of the staking vaults themselves have not been compromised. The incident will lead to a temporary reduction in net staking rewards — the funding source for ecosystem incentives — during the period when the exiting validators are replaced by new ones. Linea added that it is closely monitoring the situation.

10 minutes ago

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