Market Overview - October has historically been a strong month for crypto, but the market has experienced significant volatility, influenced by factors such as government shutdowns and trade wars [2][3] - Bitcoin peaked at 127,000 before dropping to 105,000, currently trading around 108,000, which is an 8% decline over the past three months [4] Bitcoin Analysis - Bitcoin's price is below its 50-day moving average of approximately 111,000 and is at its long-term 200-day moving average, indicating a bearish trend [4][5] - The long-term moving average is still in an uptrend, but it is flattening, suggesting potential for further declines [5] Ethereum Analysis - Ethereum is currently trading at about 3,850, which is an increase from 3,750 three months ago, representing a 100 increase [6] - Ethereum has outperformed Bitcoin by approximately 10% since late July, but it has also dropped below its short-term moving averages [6][7] - A 15% drop in Ethereum's price would bring it down to its 200-day moving average of 3,200, but both its 50 and 200-day moving averages remain in uptrends [7] Coinbase and AWS Outage - An AWS outage significantly impacted Coinbase, preventing many users from accessing their accounts or executing trades [10] - Coinbase assured users that their funds were safe during the outage and is working to prevent similar issues in the future [11] - The incident highlights vulnerabilities in relying on centralized cloud providers for critical infrastructure, prompting discussions about the need for decentralized solutions [12][13] Federal Reserve Insights - Fed Governor Christopher Waller indicated a shift in the Federal Reserve's approach to cryptocurrency, suggesting it will no longer be viewed with suspicion [15] - Waller's comments reflect a broader acceptance of cryptocurrencies and distributed ledgers within the global payment system, marking a departure from previous administration views [16] - Support from key Fed members like Waller may signal the beginning of a restructuring of the Federal Reserve's payment system [17]