🫡 Are Q4 Bull Run Dreams Over? Here's the Outlook:

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They’ve already released some pretty cool crypto-themed games, and with football (not soccer) season back, their upcoming sportsbook couldn’t be dropping at a better time.

So if you fancy a punt, go have a play. Just remember, as always: gamble responsibly.

GM, the bears are winning the battle but will lose the war.

Unfortunately, Asians screwed us overnight and decided the $112k level isn’t supported after all. As we debated yesterday, losing this level is significant, and if we see closes below, it opens the door to a longer and deeper downside, with targets around $109-107k.

It remains to be seen how the rest of the week turns out. Nevertheless, our expectation of post-rate cut weakness is now turning out very accurate. I would expect this to last for roughly two more weeks.

What’s important going forward is seeing the strength coming back after the first or second week of October. If we see BTC and indices still struggling by then, there’s a chance this whole market pivot becomes more difficult.

I sure hope Joe Mitoshi is wrong on this one. If he isn’t, then everyone’s dreams about a Q4 bull run will vanish. For now, we simply have to prepare for both possibilities. I’m bullish until proven otherwise, but the time to be proven otherwise simply isn’t here yet.

On the bright side, it’s worth remembering that the markets historically always pump after the Fed cuts rate within 2% of the S&P 500's all-time highs. Will this time be different? For now, I don’t think so.

At least Cramer is saying this month can’t pass by without dumps. Let’s see if he can save the monthly close.

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The important bits.

• Jumper offers 5 million Vool points for Jumpers+, join here

• Kyan explains the $20 billion opportunity in crypto options, read here

• Blue Ocean broker dealer joins Pyth Network, read here

• Mira Network’s MIRA token is now live, read here

• Fuel Network offers instant swaps from multisig with Bake Safe, watch here

• Almanak reached $90 TVL, see here

• Plasma (XPL) spot is live on Hyperliquid trough HyperUnit, read here

• Saga explains the “Saga’s Liquidity Integration Layer”, read here

• Virtuals offers personal crypto news agents for X, try it here

• GIGA is now listed on Binance US, read here

Charts and stats of the day.

• Hyperliquid carries twice the OI of every competitor put together, stats here

• Aster is now doing nearly half of daily Binance perp volume, chart here

Don’t miss out on the daily blocmates news bulletin with Gaz! Tune in here.

Become your own bank.

ether.fi Cash is the real-world spending product we DeFi natives have been waiting for for so long.

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• Use borrow mode: 70% LTV against your whole portfolio, “only borrow, never sell”

• Keep self-custody, earn big yield, and never pay for instant withdrawals or have your money stuck in a CEX again.

Telemetry data of the day.

PumpFun + Heaven + Bonk trending tokens for the last 24h:

If you want to access more of this type of data and trade freshly graduated tokens on PumpFun of Bonk, visit Telemetry here (it`s free).

Plasma (XPL) launch day

The big day is here! Plasma is going live, and I think XPL will become one of the main trades going forward. Similar to PUMP and other huge launches this year, I expect fireworks, whether it’s today or later.

I will be trading XPL right from the get-go on Hyperliquid. Join me here!

• Project Merlin (DAO) - Offers free NFT mint

• Gacha (Pokémon cards)

To save you doom scrolling.

Watch crypto going mainstream again in South Park:

It’s a dodgy week, and the next one or two might be too. Be focused. As I said yesterday, these are pivotal times. The picture will be much clearer after the first half of October is behind us.

We’ll update you on everything as we go, stay tuned.

stay safe homies,

Hix0n 🫡