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🎃📉 Red October, Green Builders

Hello there you embodiment of curiosity;

Welcome to today's edition of Osiris News, if you’re staring at the charts and feeling a cold draft, you are not alone. October, a month that has historically been a fortress of green candles for Bitcoin, has ended with a stumble. The market is shivering, not from the autumn air, but from the chilly words of the Federal Reserve.

The story today is one of profound divergence. It is about a headline asset taking a hard punch from the macro environment, while underneath the surface, several powerful currents are flowing in the opposite direction. One part of the market is listening intently to Jerome Powell, selling on every hawkish syllable. Another part is looking at quarterly earnings reports from giants like Coinbase and building financial empires on Bitcoin collateral, seemingly deaf to the noise. It is a market with a split personality, and today we get to play therapist with a plastic vampire cape on.

🔍 Quick Overview

• Bitcoin’s Red October: First red October in 7 years. Sub-$108K after Powell chills cut hopes.

• Coinbase Blows Out Q3: $1.9B revenue. Base profitable. Cash machine in a cold market.

• MicroStrategy’s BTC Machine: Big income, S&P 500 in sight, growing a BTC-backed finance stack.

• RWAs Break Through: Tokenized assets hit $35B. JPMorgan and peers push value on-chain.

• SBF’s Spin: Claims FTX was solvent. Blames lawyers. Credibility near zero.

Trending News

🌐📉 Fed Rate Cut Sparks Market Tumble Amid Hawkish Message

The U.S. Federal Reserve implemented a rate cut, but Chairman Powell's hawkish message about future cuts led to declines in crypto and stock markets. Two FOMC dissents highlighted concerns over economic robustness and persistent inflation above the 2% target. This underscores market sensitivity to Fed communications and the ongoing challenge of balancing inflation control with economic growth.

🟠📈 Bitcoin Recovers to $110K as Diplomacy Outweighs Fed Concerns

Bitcoin recovered to $110K, driven by improved global risk sentiment from a U.S.-China de-escalation, which temporarily overshadowed Federal Reserve interest rate concerns. Despite significant outflows from U.S. spot Bitcoin and Ether ETFs, spot Solana ETFs recorded net inflows. Diplomatic progress can shift market focus, demonstrating that geopolitical factors can sometimes override immediate macroeconomic pressures on crypto.

🏛️⚠️ Treasury Coin Links to Trump Memecoin Spark Outrage, Regulatory Scrutiny

A proposed U.S. Treasury $1 coin commemorating independence features President Trump's likeness and a phrase associated with his TRUMP memecoin, drawing concerns from Democratic Senators. Separately, the FDIC is moving to end "reputational risk" as a basis for denying services to crypto companies. This highlights growing political tension around crypto's integration with traditional finance and evolving regulatory approaches to digital assets.

💵🌍 Standard Chartered Forecasts $2 Trillion Tokenized Asset Market by 2028

Standard Chartered Bank projects the tokenized real-world assets (RWA) market to reach $2 trillion by 2028, a significant increase from its current $35 billion valuation. This growth is attributed to stablecoins, regulatory clarity from acts like the GENIUS Act, and Ethereum's foundational role. The forecast signals a major shift towards mainstream adoption and substantial capital inflows into the emerging tokenized RWA sector.

This tiny pause brought to you by “please let this help pay the bills” 👀

Beyond the Noise

The main event was a bleed. Bitcoin logged its first “red October” in seven years and slipped below $108,000, about 15% off the monthly high, then broke the 200-day simple moving average with conviction. No hack, no blowup, just relentless pressure from a hawkish Fed. Odds of a December cut slid from near certainty to something that feels like a coin flip. The result was more than a red candle. More than $800 million in leveraged longs were flushed. That is not a statistic. It is a graveyard of overextended accounts and a lot of jack o’ lantern smiles turned upside down.

While that was unfolding, Coinbase threw a quarter worth framing. $1.9 billion in revenue, $433 million in net income, and $295 billion in transaction volume with Ethereum activity leading the charge. The company added 2,772 BTC to treasury and confirmed Base is profitable. That is not just resilience to price. It is a business that earns through cycles. Somewhere in San Francisco a skeleton on a desk got a high five.

Privacy made a surprise return from the crypt. Zcash (ZEC) ripped more than 45%, flipped Monero on market cap, and reminded everyone that privacy narratives never die. They lurk behind the curtain, then tap your shoulder when the lights go low. Whales sold into strength, which is its own lesson. Spooky returns often arrive with exit liquidity for someone else.

Conviction did not stop there. MicroStrategy posted heavy operating income and kept building the Bitcoin bank thesis. Another 43,000 BTC added in Q3, more than 640,000 BTC in total, and a path that now includes international credit markets using digital asset collateral. Two consecutive qualifying quarters bring potential S&P 500 inclusion into view. That is not a costume. That is a tailored suit.

Beneath the headlines the rails are being poured. Tokenized real world assets crossed $35 billion and keep climbing. JPMorgan and BNY Mellon are not dabbling. They are shipping. Reports now point to a possible $2 trillion RWA market by 2028. When Mastercard funds tokenization platforms, you are watching concrete cure, not confetti fall. Think cathedral work before winter, stone by stone, while the wind rattles the windows.

Regulatory noise grew louder, which is what always happens when volumes rise and margins widen. A crypto native enforcement unit froze illicit flows, while Australia, Japan, and Hong Kong tightened controls on risk points like ATMs and treasuries. Meanwhile the ghost of cycles past shuffled back into the hallway, with familiar claims about insolvency that read like a haunted house script. Good to remember the difference between storytelling and accounting.

This Caught My Eye:

Here’s a breakdown:

• The whitepaper introduced the idea of digital money without banks, where anyone can send value peer to peer globally.

• Seventeen years later, that 9-page PDF has grown into a global, nation-scale monetary network.

• From cypherpunk roots to ETFs and sovereign adoption, Bitcoin keeps proving the idea was bigger than anyone imagined.

Looking Ahead

Two forces are pulling the room in opposite directions. On one side, macro chill and tired charts. Powell’s tone matters, the next inflation print matters, and risk desks are watching the ceiling for bats. On the other side, deep structure keeps advancing. Coinbase is profitable, MicroStrategy is turning balance sheet into business lines, and RWAs are graduating from pilot to pipeline. Builders are not checking the weather. They are reading blueprints by candlelight and pouring before dawn.

Which force wins the next month is the live question. Do hawkish headlines keep spooking the crowd, or does the steady march of infrastructure pull price along behind it like a wagon full of pumpkins? Keep a flashlight handy, watch the 200-day on the majors, and listen for footsteps in ETF flows. If the house creaks this weekend, it might be the wind. Or it might be accumulation moving down the hallway in soft socks.

Until Monday,
- Dr.P