MD RASEL AHMED 3

September NFP came in at 29,000 — missing every forecast — with July revised to -10,000 and August cut to 133,000, removing 60,000 jobs from prior months. October hike odds collapsed from 64% to 22.7%. Stocks rallied: Nasdaq +1.19%, S&P +0.74%, Nvidia hit a new all-time high. Bitcoin briefly touched $87,000 then fell back to $84,643 — rejected at the same level for the third time. Stablecoin market cap is $14B below its May peak with only $4B recovered, flagging weak liquidity for a sustained new-high push. CryptoQuant CEO Ki Young Ju expects a 3-5x cycle gain rather than 10x+, arguing institutional maturity is compressing both upside and downside extremes.US Stocks Close Higher Friday as Weaker Jobs Data Lifts MarketDow +0.5%, S&P 500 +0.74%, Nasdaq +1.19% on Friday after September's 29,000 NFP print cut October hike odds from 64% to 22.7%. The Nasdaq hit an intraday record before a Treasury yield rebound pulled stocks from session highs. Nvidia +1.34% to a new all-time high; Tesla +4.65%, Dell +3.8%, Broadcom +3.35%; Accenture -6.27%, SanDisk -3.79%. Osaic's Phil Blancato: "Not too hot, not too cold — exactly the kind of number the market wanted from a labor standpoint." Nuveen's Saira Malik: "This could be the start of the Santa Claus rally we've all been hoping for." Oil retreated as EU countries consider releasing strategic fuel reserves under Trump administration pressure — a tailwind for equities. Weekly: Dow -1.3%, S&P -0.3%, Nasdaq +0.6%.Stablecoin Market Cap Down $14B Since May as Crypto Liquidity Recovery Remains WeakTotal stablecoin market cap has fallen $14B since May, recovering only $4B since September to reach ~$270B — leaving overall crypto-native liquidity well below its prior peak. CryptoQuant's Darkfost: the $4B rebound is insufficient to signal decisive liquidity expansion, and stronger stablecoin inflows may be needed before Bitcoin can sustain a push toward new highs. Stablecoins matter because they represent instantly deployable purchasing power within the ecosystem — when supply contracts, Bitcoin has less fresh capital available to absorb selling pressure at higher valuations. The signal is mixed: the contraction appears to be reversing, but the magnitude is modest. Whether stablecoin market cap can extend meaningfully beyond $270B is one of the cleaner leading indicators to watch for Bitcoin's next major move.CryptoQuant CEO Expects Bitcoin to Rise 3–5x This Cycle, Followed by Milder Bear MarketKi Young Ju expects Bitcoin to deliver a 3-5x gain this cycle rather than repeating 10x+ rallies, arguing institutional ownership and larger market size are compressing both upside and downside extremes. Key evidence: Bitcoin's MVRV ratio has not fallen below 1 this cycle — holders collectively never moved into unrealized loss position even at the $57,750 June low. Realized capitalization is rising (fresh capital entering), long-standing whales have stopped selling, and large futures positions were established near the bottom. Ki's central argument: a 10x surge requires the kind of speculative retail capital that previously dominated; that dynamic is structurally less available as institutional investors with longer time horizons become the marginal buyer. The trade-off — less extreme upside, less extreme downside — could make Bitcoin more attractive to capital that previously avoided it due to volatility. The implied ceiling for this cycle: roughly $126,000 x 3-5 from the June low at $57,750 produces a range of $173,000-$289,000 from the bottom, though Ki didn't specify a price target.Nvidia Hits New All-Time High as Shares Rise 2.4%Nvidia shares climbed 2.4% to a new all-time high on October 2, extending gains from the week's AI and semiconductor strength. AMD also touched a record high, closing up nearly 3%. The move followed Micron's Thursday beat and Q1 2027 guidance of $61.5B vs $57B — CEO Mehrotra: "Industry demand has strengthened since our last earnings call." Nvidia's new record arrives after the stock had spent months below its May high, recovering through a period that included Amodei's AI slowdown call (which sent the Philadelphia Semi Index down 5.9% in a single session) and Nvidia's own margin guidance cut to 74% from 75%. The record close validates JPMorgan's call that neocloud contract pricing moving to $15-$20/MW from $10-$15 represents genuine pricing power in AI infrastructure.Bitcoin Rejected at $87K as Weak U.S. Jobs Data Fuels Stock Rally and Nvidia Hits Record HighBitcoin briefly surged toward $87,000 after the NFP miss before falling back to $84,643 — a 0.7% 24-hour decline and the third rejection at or near $87,300 since September 21. July revised to -10,000 from +21,000, August cut to 133,000 from 162,000 — removing 60,000 jobs from prior months. Wage growth moderated to 0.1% MoM and 3.0% YoY. October hike odds collapsed from 64.2% to 22.7% in a week. Bitcoin's inability to hold the macro relief — stocks rally to records while Bitcoin gives back its gains — replicates the pattern from Wednesday's PCE pop: good news provides an initial bid that encounters supply at $87,000 and fails. The $87,300 level now carries three rejection prints. Bitcoin holds 10% funding rates on 653,000 BTC of open interest; leveraged longs paying that rate are the most exposed to continued rejection at resistance.

According to CoinMarketCap data, the global cryptocurrency market cap now stands at $3.48T, down by 1.5% over the last 24 hours.Bitcoin (BTC) traded between $100,814 and $105,333 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $102,858, down by 1.83%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include PARTI, ALCX, and TURTLE, up by 39%, 38%, and 18%, respectively.Top stories of the day:Canary XRP ETF Activation Spurs Altcoin Trading SurgeBitcoin Mining Difficulty Adjusts Downward by 2.37% Institutional Interest in Tokenization Grows Despite Bitcoin Price Fluctuations U.S. House Approves Funding Bill to End Government Shutdown U.S. House Moves Forward with Legislation to Reopen Federal Government Federal Reserve Officials Discuss Monetary Policy Amid Upcoming Changes Wall Street Regulators to Study Cryptocurrency Token Classification System U.S. Government Reopening Stabilizes Treasury Yields Amid Economic Concerns Taiwan Premier Commits to Bitcoin Reserve Assessment Report by End of 2025 Retail Investors Dominate U.S. Stock Options Market in Q3 2025Market movers:ETH: $3504 (+0.63%)XRP: $2.4995 (+3.31%)BNB: $962.29 (-0.48%)SOL: $155.09 (-2.07%)DOGE: $0.17482 (-0.07%)TRX: $0.2983 (-0.40%)ADA: $0.5663 (-0.23%)WLFI: $0.15 (-5.06%)WBTC: $102741.65 (-1.77%)BCH: $526.2 (+0.84%)