🇺🇸 US STOCKS & CRYPTO MARKET REPORT Friday 30th October , 2026

🌍 DELTA NODE | DAILY MARKET & MACRO UPDATE 📅 30 October 2026

⚠️ Market sentiment deteriorates as Bitcoin drops below $78K

Fear & Greed has fallen to 36 (Fear) this morning. Bitcoin dropped approximately 2.6% overnight, trading around $77.4K, after losing the $80K level.

BTC has entered the $78K–$79K demand zone, where Glassnode identified buyers stacking bids after the previous $80K liquidity was swept. However, Bitcoin remains below the $81.5K average cost basis of US spot ETF holders, leaving a significant resistance area overhead.

The broader crypto market is under pressure, with Ethereum down 3.54% and total market capitalization declining 2.81%. Meanwhile, Hyperliquid's HYPE token surged following a major institutional development involving ICE.

Let's break down today's developments. 👇

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📰 1. CRYPTO MARKET: REGULATION, BANKING & INSTITUTIONAL ADOPTION

⚖️ Utah Files Felony Charges Against Kalshi and Its CEO

Utah has filed criminal charges against prediction-market platform Kalshi and its co-founders, Tarek Mansour and Luana Lopes Lara.

The charges include: • One second-degree felony. • Twelve third-degree felony counts related to promoting online gambling.

This is the first time Utah has pursued criminal rather than civil charges against a prediction-market operator. Kalshi described the move as a "crazy overreach."

The case could become an important test of how prediction markets are regulated in the United States, particularly where financial contracts overlap with gambling laws.

🏦 Westpac May Cap Crypto Exchange Payments

Australia's Westpac Bank is considering a monthly payment limit of A$10,000 per customer for transactions identified as payments to cryptocurrency exchanges, potentially starting December 1.

The proposed restriction would cover: • Online banking. • Mobile banking applications. • Card payments.

There would be no exemptions or increases to the limit. However, withdrawals from crypto exchanges back into Westpac accounts would remain unaffected.

The move highlights growing banking restrictions around cryptocurrency access, with fraud prevention cited as a key concern.

💵 Circle Wants the SEC to Treat Stablecoins as Cash

Circle has asked the US Securities and Exchange Commission to treat qualifying stablecoins as cash equivalents under its proposed Regulation Crypto Assets framework.

Its proposals include: • Reducing the broker-dealer capital haircut on GENIUS Act-compliant stablecoins from 2% to 0%, subject to safeguards. • Excluding certain blockchain network maintenance activities from the definition of essential managerial efforts.

If accepted, the changes could improve institutional stablecoin adoption and make regulated stablecoins easier to use within traditional financial markets.

🇺🇸 US Sanctions North Korean Crypto IT Worker Network

The US Treasury has sanctioned 10 individuals and one entity connected to North Korean IT-worker schemes allegedly used to defraud American companies and finance weapons programmes.

Investigators identified: • A Russian broker who converted nearly $2 million in cryptocurrency for North Korean officials since January 2025. • Another broker who converted approximately $3.5 million to support an IT-worker network operating from Russia.

The action reinforces Washington's focus on cryptocurrency-related sanctions evasion and illicit financial networks.

🚀 HYPE Surges After ICE Announces Hyperliquid Partnership

One of today's biggest crypto developments comes from Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange.

ICE has agreed to develop a regulated perpetual futures market based on Hyperliquid technology in partnership with Trade[XYZ], subject to US regulatory approval.

Key developments: • The proposed market will operate under KYC and AML requirements. • Contracts will have no expiry dates. • Distribution is planned through futures brokers and ICE's OKX joint venture.

HYPE surged approximately 17% to $94.81, bringing it within roughly 7% of its September record.

This is a significant institutional development for Hyperliquid, potentially connecting decentralised trading infrastructure with traditional financial market distribution.

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📊 2. CRYPTO MARKET SNAPSHOT

🔥 Trending Coins

• BNB: -5.14% • TRON: +2.34% • Solana: -3.69% • AAVE: -5.90% • XRP: -3.40%

📌 Bitcoin Levels to Watch

• $78K–$79K: Demand zone where buyers are stacking bids. • $77K: Immediate psychological support area. • $80K: Previously significant liquidity area, now lost. • $81.5K: Average cost basis of US spot ETF holders and an important recovery level.

Market Interpretation: Bitcoin remains under pressure, and the ETF cost-basis level is an important area to reclaim. Higher trading volume alongside falling prices suggests elevated market activity, but does not independently confirm accumulation or capitulation.

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🌐 3. GLOBAL MACRO & TRADITIONAL MARKETS

Today's global developments are equally important for crypto and risk assets. AI spending, inflation, central-bank policy and geopolitical tensions are shaping broader market sentiment.

📦 Amazon: AWS Growth Accelerates, but Cash Flow Turns Negative

Amazon delivered strong cloud growth, but investors focused on its rapidly increasing AI infrastructure spending.

Key numbers: • AWS revenue increased 39% to $45.98 billion, its fastest growth in nearly five years. • AWS operating profit increased 55% to $17.77 billion. • Total revenue reached $201.9 billion, below the $202.3 billion forecast. • Earnings came in at $1.89 per share against expectations of $1.96. • Advertising revenue was $19.64 billion, below the $20.82 billion forecast.

The biggest concern was capital expenditure.

Amazon spent $77.26 billion on property and equipment during the quarter. Its trailing 12-month free cash flow turned negative at -$42.4 billion, compared with positive $14.8 billion a year earlier.

Amazon expects approximately $220 billion in capital expenditure during 2026.

Despite strong AWS growth, its shares fell around 7% before the market open.

The wider concern is whether massive AI infrastructure investments will generate sufficient future cash flows.

🇺🇸 US Economy Grows 3.4%, but Household Savings Decline

The US economy expanded at an annualised rate of 3.4% in Q3, accelerating from 2.2% in Q2 and exceeding the 3.2% forecast.

However, inflation remains elevated.

• Headline PCE inflation: 3.6%, up from 3.4%. • Core PCE inflation: 3.1%, up from 3.0%. • Personal income: +0.2%. • Personal spending: +0.5%. • Household saving rate: 3.8%, down from 4.0%.

The decline in savings suggests American households are spending faster than their income is growing.

The next important release is the Employment Cost Index, which provides insight into wage inflation and labour costs.

For the Federal Reserve, strong economic growth combined with persistent inflation makes monetary easing more difficult.

🇪🇺 Christine Lagarde to Leave ECB Early

European Central Bank President Christine Lagarde announced that she intends to step down in February 2027, approximately nine months before the end of her eight-year term.

The ECB maintained its deposit rate at 2.50%.

Important developments: • Eurozone inflation reached 3.8% in September. • Energy prices remain a major inflation risk. • The ECB discussed a possible rate increase before deciding to hold. • Isabel Schnabel and Philip Lane are also approaching the end of their respective terms.

Potential successors include former Dutch central bank governor Klaas Knot and former Spanish central bank governor Pablo Hernández de Cos.

The leadership transition could become an important factor in European monetary policy over the coming months.

🇯🇵 Bank of Japan Holds Rates at 1.25%

The Bank of Japan maintained its policy rate at 1.25% in an 8-1 vote.

One board member, Hajime Takata, supported an increase to 1.50%.

The BOJ also indicated that underlying inflation is now consistent with its 2% target.

Additional developments: • The bank raised its 2027 inflation outlook to 2.6%. • It accelerated the planned sale of its ETF holdings. • Markets are pricing in a significant possibility of another rate increase in December.

Why it matters:

Higher Japanese interest rates could strengthen the yen and make yen-funded carry trades less attractive.

This matters globally because changes in Japanese borrowing costs can influence liquidity across equities, bonds and cryptocurrency markets.

💻 Intel Shares Fall 25% Despite Strong AI Revenue

Intel reported strong quarterly results, but its forward guidance disappointed investors.

Key numbers: • Revenue increased 21% to $16.51 billion. • Adjusted earnings reached $0.52 per share against $0.40 expected. • Data centre and AI revenue surged 78% to $7.32 billion. • PC chip revenue declined 5% to $8.10 billion.

The problem was its next-quarter outlook.

Intel forecast revenue of $15–16 billion, significantly below the $17.1 billion market expectation.

Its earnings guidance also came in below expectations.

Shares fell approximately 25% before the market open.

The bigger issue is supply constraints. Intel says demand for server chips remains strong, but its ability to meet that demand is limited.

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🗞️ 4. OTHER IMPORTANT DEVELOPMENTS

🇬🇧 NatWest Falls While AstraZeneca Gains

NatWest reported £1.53 billion in attributable quarterly profit, but its bad-loan provisions doubled to £277 million from £140 million in the previous quarter.

Its shares declined approximately 3.53%.

Meanwhile: • AstraZeneca revenue increased 7% to $16.21 billion. • Core earnings increased 19% to $2.79 per share. • BP reported an $8.46 billion profit, beating forecasts. • BT gained 4.46% following reports of a potential broadband network agreement with Virgin Media O2.

The FTSE 100 was up approximately 0.5%.

🛢️ Tanker Attack in Strait of Hormuz Pushes Oil Higher

Oil prices climbed after the UK Maritime Trade Operations agency reported an attack on a tanker using explosive devices in the Strait of Hormuz. The crew was reported safe.

Market movements: • Brent crude: $113.07, up 2.1%. • WTI crude: $103.07, up 1.8%.

Oil had declined in the previous session following reports of renewed diplomatic communication between Washington and Tehran.

However, renewed geopolitical tensions and the possibility of further military escalation are bringing supply disruption risks back into focus.

The Strait of Hormuz remains one of the world's most important energy shipping routes.

🪙 Strategy Reports $19.5 Billion Profit as Coinbase Revenue Falls

Strategy reported approximately $19.53 billion in net income for Q3, largely driven by unrealised gains in its Bitcoin holdings.

As of October 25: • Bitcoin holdings: 848,517 BTC. • Average acquisition price: approximately $75,446 per BTC. • Reported quarterly net income: $19.53 billion.

The profit is primarily an accounting reflection of Bitcoin's market value appreciation, not equivalent to cash generated from operations.

Meanwhile, Coinbase faced a weaker quarter.

• Revenue declined 35% to $1.22 billion. • Trading revenue dropped 44% to $590 million. • Reported profit reached $719 million, including approximately $715 million in unrealised gains on its own crypto holdings.

This highlights the sensitivity of crypto exchange revenues to market activity and trading volumes.

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🥈 5. SILVER: IMPORTANT TECHNICAL LEVELS

Silver remains an important asset to monitor amid elevated geopolitical risk and changing monetary expectations.

Today's technical levels:

• $49.78: Important resistance area. • $44.28: Key level to monitor. • $54.74: Previous floor that has broken.

The focus is whether silver can reclaim lost support and establish a sustainable recovery.

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🧠 6. DELTA NODE: BIG PICTURE

Today's market is being driven by three major forces:

1. Liquidity and monetary policy

Bitcoin is trading below the average cost basis of US ETF holders, while inflation remains elevated in the US and Japan signals the possibility of further tightening.

2. AI spending versus profitability

Amazon and Intel demonstrate that strong AI demand does not automatically translate into stronger share prices. Investors increasingly want evidence of sustainable earnings, cash flow and supply capacity.

3. Geopolitical and regulatory uncertainty

The Hormuz tanker attack is pushing energy prices higher, while regulators and banks are tightening their approach to crypto-related activity. At the same time, ICE's Hyperliquid partnership demonstrates that institutional adoption continues.

📌 What We Are Watching

• BTC reaction around $77K–$79K. • Whether Bitcoin can reclaim $80K and eventually $81.5K. • ETF flows and institutional positioning. • Changes in US Treasury yields, DXY and the Japanese yen. • Brent crude and developments around the Strait of Hormuz. • AI infrastructure spending and cash-flow sustainability. • Institutional developments around Hyperliquid.

Final Takeaway:

Markets are facing a difficult combination of falling crypto prices, persistent inflation, aggressive AI spending and geopolitical uncertainty.

However, institutional crypto infrastructure continues to develop despite short-term price weakness.

For now, protecting capital, monitoring liquidity and waiting for confirmation are more important than reacting emotionally to volatility.

Δ DELTA NODE | DATA OVER NOISE. LOGIC OVER EMOTION.