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Crypto heavyweights pull back as altcoins rotate

The crypto market's capitalisation has remained stable at around $2.86T for the third day in a row. The market continues to ignore the strengthening of the dollar and the rise in global government bond yields. It appears that current levels are not yet attractive to cryptocurrency investors, who are waiting for a better offer or at least signs that traditional markets are bottoming out. Still, it cannot be said that all cryptocurrencies have come to a standstill while waiting.

Over the past 24 hours, among the most liquid coins, there has been a slight trend towards profit-taking, with the sharpest declines seen in Hedera (βˆ’12.1%), Algorand (βˆ’7%) and IOTA (βˆ’6.5%), with the top performers being Sushiswap (+5.1%), NEAR Protocol (+5%) and Aave (+3.8%). Meanwhile, Bitcoin, Ethereum, BNB, XRP and Solana are recording declines of around 1%. It appears the market is rotating between altcoins. Still, major cryptocurrencies are under pressure due to their close ties to traditional markets, where sentiment is more wait-and-see and cautious.

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⚠️ USA β€” ADP Non-Farm Employment Change at 12:15 GMT

βœ”οΈ Prev: 36K

πŸ•’ Exp: 70K

🎯 Fact.: 90K πŸ“ˆ
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⚠️ USA β€” Gross Domestic Product at 12:30 GMT

βœ”οΈ Prev: 1.5%

πŸ•’ Exp: 1.5%

🎯 Fact.: 2.2% πŸ“ˆ

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⚠️ USA β€” Core PCE Price Index at 12:30 GMT

βœ”οΈ Prev: 0.1% | 3.0%

πŸ•’ Exp: 0.3% | 3.3%

🎯 Fact.: 0.2% πŸ“‰ | 3.0% πŸ“‰
πŸ‡ΊπŸ‡Έ Pre-market trading trends on the US stock market

πŸ“ˆ Following the inflation figures, the US stock market is showing a moderately positive trend in pre-market trading.

In the Information Technology sector, NVIDIA (NVDA) is up 0.65%, Micron Technology (MU) is up 1.38%, while Microsoft (MSFT) is up 0.21%.

In the Communication Services sector, Alphabet (GOOGL) is up 1.35%.

In the Consumer Discretionary sector, Amazon (AMZN) is up 0.21%, while in the Consumer Staples sector, Walmart (WMT) is up 0.25%.

From a foreign exchange perspective, the current rise in the shares of the largest technology and retail companies reflects a risk-on sentiment: demand for safe-haven dollar assets is limited, and the dollar's performance remains largely neutral, with no clear momentum toward appreciation.
πŸ—“ Economic Calendar at 2026/10/02 (GMT)

08:00 πŸ‡ͺπŸ‡Ί Manufacturing PMI β€” Exp: 52.7 Actual: 52.9

08:00 πŸ‡¬πŸ‡§ BOE Governor Andrew Bailey Speaks

12:30 πŸ‡ΊπŸ‡Έ Unemployment Claims β€” Exp: 200K Actual: 197K

13:30 πŸ‡¨πŸ‡¦ S&P Global Manufacturing PMI Actual: 51.5

13:30 πŸ‡ͺπŸ‡Ί ECB President Christine Lagarde Speaks

14:00 πŸ‡ΊπŸ‡Έ ⚑️ ISM Manufacturing PMI β€” Exp: 55.0 Actual: 54.5

15:30 πŸ‡¨πŸ‡­ ⚑️ SNB Chairman Martin Schlegel Speaks


[Updated in real time]
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FxPro pinned Β«πŸ—“ Economic Calendar at 2026/10/02 (GMT) 08:00 πŸ‡ͺπŸ‡Ί Manufacturing PMI β€” Exp: 52.7 Actual: 52.9 08:00 πŸ‡¬πŸ‡§ BOE Governor Andrew Bailey Speaks 12:30 πŸ‡ΊπŸ‡Έ Unemployment Claims β€” Exp: 200K Actual: 197K 13:30 πŸ‡¨πŸ‡¦ S&P Global Manufacturing PMI Actual: 51.5 13:30…»
Crypto: calm before the storm?

The crypto market has been hovering at the same market capitalisation level for some time now, remaining close to $2.86T for the eighth day in a row. However, it is worth noting that since the start of this trading week, price action has been more concentrated at the lower end of the range. We do not yet see this as a sign of a bearish reversal, but rather as growing caution amid uncertainty, which is driving demand for the dollar. Among the most liquid coins over the past 24 hours, the top gainers were IOTA (+7.8%), NEAR (+4.6%) and AAVE (+3.4%). The biggest fallers were Internet Computer (βˆ’4.3%), Filecoin (βˆ’3.5%) and Ethereum Classic (βˆ’1.9%).

Bitcoin has once again failed to hold above $85K, as the upward momentum triggered by weaker-than-expected inflation figures quickly fizzled amid an ongoing sell-off in global government bonds. The leading cryptocurrency is caught between pressure from a strengthening dollar and the desire among some investors to temporarily steer clear of falling assets. The persistence of the bond sell-off is a very worrying sign, capable of triggering a sell-off across all markets almost overnight. It is easy to find periods in history when turmoil in traditional finance has benefited crypto. Still, it is impossible to predict when the market will shift from caution to panic.

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πŸ‡ΊπŸ‡Έ Pre-market trading trends on the US stock market

πŸ“ˆ A moderately positive trend is prevailing in pre-market trading in the US stock market.

In the Information Technology sector, NVIDIA (NVDA) is up 0.91%, while Intel (INTC) is down 0.48%.

In the Financials sector, Berkshire Hathaway (BRK.B) is down 0.05%, while Bank of America (BAC) is down 0.29%.

In the Consumer Discretionary sector, Amazon (AMZN) is up 0.99%, while in the Consumer Staples sector, Walmart (WMT) is up 0.36%.

In the foreign exchange market, the current picture is consistent with a risk-on environment: the predominance of gains among large-cap technology and consumer companies is sustaining interest in market assets.

Still, it is not generating significant demand for the dollar as a safe-haven asset. Under such conditions, the dollar generally trades with little volatility, while short-term exchange rate fluctuations depend more on expectations regarding Fed interest rates and broader external news flow.
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⚠️ USA β€” ISM Manufacturing PMI at 14:00 GMT

βœ”οΈ Prev: 54.6

πŸ•’ Exp: 55.0

🎯 Fact.: 54.5 πŸ“‰
▢️ Natural Gas. Forecast Correction

Today is Thursday, the 1st of October and let’s talk about the gas market, where I’ve switched to an alternative scenario that I’ve been discussing for several episodes in a row. I’m referring to this particular section of the market, which I suggested might take the form of a triangle or a sideways pattern.

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