🚀 September 29 Crypto Market Overview | Gold Hits New High, Regulatory Meeting Held, Multiple Projects Reach Key Nodes

📈 Core Market Data

1. Gold reaches a historic high

• London spot gold reached a high of 3798.63 USD/oz, approaching the 3800 USD mark, while domestic gold jewelry prices also rose (e.g., Chow Sang Sang reached 1111 CNY/g).

• Driving factors: The expectation of a Federal Reserve interest rate cut rises to 90%, with geopolitical conflicts and inflation concerns driving demand for safe havens.

2. Cryptocurrency market rally

• Bitcoin returned above $112,000, and Ethereum broke through $4,100.

• US stocks related to the crypto market rose collectively in the after-hours trading, with BMNR up over 5% and Strategy up nearly 3%.

⚖️ Policy and Regulatory Dynamics

1. SEC and CFTC Joint Roundtable Meeting

• Held in Washington on September 29, discussing topics such as regulatory coordination and platform compliance, with guests including the SEC Chairman, CFTC Acting Chairman, and exchange representatives.

• Background: The U.S. Congress is pushing for the "BITCOIN Act" requiring the Treasury to develop a custody plan for Bitcoin reserves.

2. Deadline for the UK's new crypto regulation consultation

• The UK Treasury has proposed stricter anti-money laundering rules for crypto businesses, with a consultation period ending on September 30, and implementation planned for 2026.

🔄 Project and ecosystem updates

1. Token unlocking wave is coming

• SUI (October 1): Unlock 44 million pieces (worth $144 million), accounting for 1.23% of the circulation.

• EIGEN (October 1): Unlock 36.82 million tokens (worth $66.6 million), accounting for 13.77% of the circulating supply.

• Synchronization unlock of ENA/OP and others, with a total value exceeding 300 million USD.

2. Starknet mainnet integrates BTC staking

• Launched on September 30, allowing Bitcoin holders to participate in staking and shorten the unbonding period to 7 days.

3. FTX Third Bankruptcy Distribution

• An additional payment of $1.6 billion to creditors, with some users dissatisfied with the cash compensation ratio (compared to the current increase in cryptocurrency prices).

💡 Key Event Impact Analysis

• Gold and Bitcoin correlation: The Federal Reserve's interest rate cut expectations are favorable for safe-haven assets, but Bitcoin's volatility is higher, necessitating caution regarding capital diversion risks.

• Regulatory meeting signals: If the SEC and CFTC clarify their divisions of labor, it may accelerate the approval of the Bitcoin spot ETF in the United States, attracting institutional funds.

• Unlocking Selling Pressure Warning: A high proportion of unlocked tokens like EIGEN may trigger short-term price corrections, and attention should be paid to the project team's locking plan.

🔮 Short-term outlook

• Gold: JPMorgan is bullish at $4000/oz (Q1 2026), and Goldman Sachs mentions a potential of $5000.

• Cryptocurrency: The market is focused on the U.S. crypto tax hearing and non-farm data on October 1, the results may affect the Federal Reserve's subsequent policies.

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(The above information is compiled from public reports and does not constitute investment advice.)