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Bitcoin mining relies on specialized hardware performing calculations to produce new blocks on the network. Miners help record transactions and support network security. In return, they can earn income from the block subsidy and transaction fees. However, purchasing a device alone does not ensure consistent earnings. Electricity costs, network competition, hardware efficiency, and the Bitcoin price all influence the outcome. This guide explores how mining works, equipment selection, rewards, and the requirements for a home setup.What Is Bitcoin Mining, and Why Is It Necessary?Bitcoin operates without a single institution managing its transaction records. Mining forms part of the mechanism that produces new blocks within this decentralized system.The network’s rules also explain how Bitcoin is created. Mining introduces new Bitcoin within the limits set by the protocol.Recording transactions, issuing new Bitcoin, and securing the networkMiners work on a candidate block containing transactions. A miner who finds a valid block can claim the reward permitted by the protocol.This reward comes from two sources: the block subsidy, which creates new Bitcoin, and transaction fees. Transaction fees transfer existing Bitcoin; they do not create new supply.While miners select transactions, full nodes independently enforce the network’s rules. A block containing invalid transactions or an excessive reward remains invalid, regardless of computing power.This distinction helps clarify mining’s role. Miners compete to produce blocks; full nodes check which blocks are valid.How Proof of Work and SHA-256 workProof of Work refers to a mechanism that demonstrates computational effort. In Bitcoin, it involves finding a hash that meets a specific target.A hash function produces a fixed-length output from its input data. Even a small change to the input substantially changes the result.Bitcoin mining applies the SHA-256 function twice to the block header. The miner attempts to produce a numerical result that does not exceed the network’s target.Because a valid result cannot be predicted, the hardware makes numerous attempts. Verifying the cryptographic proof supplied by a successful miner is comparatively straightforward. Source: Toby Chitty, “The Mathematics of Bitcoin — SHA-256,” Medium, May 25, 2020. Why blocks link together?Each block contains the previous block’s hash. This connection helps preserve the order of the transaction history.Changing an older block’s contents also changes its hash. Maintaining the links to subsequent blocks therefore requires repeating the computational work. Among valid chains, the network follows the one with the most accumulated work. As new blocks arrive, rewriting the history requires more computation.This explains why transaction confirmations matter. As additional blocks build on the block containing a transaction, the risk of reversal generally decreases.How Does Bitcoin Mining Work?Sending a Bitcoin transfer does not immediately place the transaction on the blockchain. It first spreads across the network and may then enter a block produced by a miner.From the mempool to a candidate blockNodes keep accepted transactions that have not yet entered a block in an area called the mempool. Each node’s mempool does not have to contain exactly the same transactions.A miner or pool selects transactions to prepare a candidate block. Since block capacity is limited, transaction fees play an important role in this selection. The total fee alone does not determine priority. The fee rate relative to the space a transaction occupies also matters.For example, a large transaction may pay a higher total fee. A smaller transaction, however, may offer more fees per unit of space.The block header and the search for a nonceDuring mining calculations, hardware works on the block header rather than the entire candidate block. The header contains these main fields:FieldPurposeVersionSpecifies the block’s versionPrevious block hashLinks the new block to the previous blockMerkle rootRepresents a cryptographic summary of the block’s transactionsTimestampProvides time information within the limits allowed by the rulesTarget informationEncodes the target a valid hash must meetNonceHolds a value that can change for new hashing attemptsThe hardware repeatedly calculates hashes while changing the nonce. However, its attempts are not limited to this field.Mining software can modify other data, such as the coinbase transaction, to create new search possibilities. Here, coinbase means the special transaction containing the mining reward; it does not refer to the exchange.What happens when a miner finds a valid block?The miner that finds a result meeting the target broadcasts the block. Nodes check its Proof of Work, transactions, and other validity requirements.Sometimes, two miners find different valid blocks at nearly the same time. The network may briefly work on different chain tips.Subsequent blocks determine which branch accumulates more work. The expected reward for a block on the other branch may never become lasting earnings.Finding a block and securing its reward therefore should not be treated as the same moment. Mining software and pools track these situations in their records.Equipment Required for Bitcoin MiningIn Bitcoin’s early years, people could mine using personal computers. As competition and total computing power increased, hardware requirements changed.Today, economically competitive Bitcoin mining largely relies on ASIC devices designed for SHA-256. Ordinary computers cannot match their efficiency.Differences between ASICs, GPUs, and CPUsAn ASIC is an integrated circuit designed for a specific task. Bitcoin ASIC devices aim for high performance and energy efficiency in mining calculations.A GPU is a graphics processing unit, while a CPU is a computer’s central processing unit. These components can perform more general-purpose tasks.HardwareRole in Bitcoin miningMain limitationCPUUsed during Bitcoin’s earliest yearsNo longer provides competitive computing powerGPUBecame prominent before the ASIC eraInefficient compared with ASICs for Bitcoin miningASICThe main hardware used in Bitcoin mining todayTied to a specific algorithm, with limited alternative usesGPU systems can mine on other suitable cryptocurrency networks. This flexibility does not make them economical for Bitcoin mining.Some services may also pay BTC for other computing activities. Receiving payment in Bitcoin does not mean the device is directly attempting to produce Bitcoin blocks.Energy efficiency matters alongside hash rateHash rate measures the number of calculations a device performs per second. Bitcoin ASIC specifications commonly use the unit TH/s.However, a higher TH/s figure alone does not mean greater profit. You also need to examine the electricity required to achieve that performance.J/TH measures the energy needed per terahash. Under the same conditions, a lower value indicates better energy efficiency.When comparing mining equipment, evaluate the following together:Hash rate and power consumption at the wall.Energy efficiency in J/TH.Electrical connection and power supply requirements.Cooling method and noise level.Warranty, servicing, and access to replacement parts.Purchase, shipping, and installation costs.The cheapest device may not offer the lowest costs over its operating life. An inefficient model can consume its upfront savings through higher electricity bills.Software selection and setup basicsCGMiner and BFGMiner are prominent open-source projects in mining software’s history. Their appearance in an older guide does not mean they support every current ASIC.Check BFGMiner’s documentation to confirm which devices it supports. Modern ASIC setups may use manufacturer-provided software or compatible alternative firmware.For example, Braiins OS provides alternative firmware for supported devices. Available features and compatibility can vary by device model and control board.The general setup process includes these steps:Check the device’s electrical and cooling requirements.Prepare connections according to the manufacturer’s instructions.Connect the device to a trusted local network.Change the management interface’s default login credentials.Enter the pool address and worker details.Configure the payout address according to the pool’s instructions.Monitor hash rate, temperatures, and error rates.A worker name identifies your device within the pool. Assigning separate names to multiple devices makes performance issues easier to locate.Mining Pools, Difficulty, and Block RewardsMining income depends on network conditions as well as device performance. The pool model, difficulty adjustment, and Bitcoin halving are central to this relationship.How a mining pool worksA mining pool brings participants’ computing power together under a shared operation. Participants demonstrate their work by submitting “shares” that meet the pool’s requirements.Not every share represents a valid block on the Bitcoin network. The pool uses these records to measure miners’ contributions.Pools may use different payout methods:Payout modelBasic approachPPSPays for accepted shares according to a defined calculationFPPSIncludes transaction fees alongside the block subsidy in its calculationPPLNSDistributes earnings from blocks found by the pool according to a defined window of shares Pools using the same model name may differ in their implementation. Review fees, transaction fee distribution, and payment conditions separately.Using a pool can reduce income variability compared with solo mining. However, it does not guarantee fixed earnings or profitability.When choosing a pool, compare fees, payout thresholds, connection stability, and support quality. Concentration in a few large pools can also create centralization risks in block production coordination.Why mining difficulty changesBitcoin targets an average block interval of approximately 10 minutes. Individual blocks do not need to arrive exactly 10 minutes apart.On the mainnet, difficulty adjusts every 2,016 blocks. The system calculates the new target using the previous period’s block production time.If blocks arrive faster than intended, mining generally becomes more difficult. If they arrive more slowly, difficulty may fall, helping the network adapt to changing computing power.The protocol does not directly measure total hash rate by counting every device. We estimate the network’s computing power from block production.When competing miners add more powerful devices, your device’s share of the network may shrink. Your expected BTC income can decline even if your performance remains unchanged.The block subsidy and Bitcoin halvingBitcoin’s block subsidy halves every 210,000 blocks. This approximately four-year cycle is known as the Bitcoin halving.PeriodBlock subsidyAt launch in 200950 BTCAfter the 2012 halving25 BTCAfter the 2016 halving12.5 BTCAfter the 2020 halving6.25 BTCAfter the 2024 halving3.125 BTCAfter the next halving, expected around 20281.5625 BTCAs of October 2026, the block subsidy stands at 3.125 BTC. Adding transaction fees gives the miner’s total block revenue.The next halving will occur at block 1,050,000. Its exact calendar date depends on how quickly blocks arrive.Halving does not remove existing Bitcoin; it slows the rate of new supply. Bitcoin’s limited supply contributes to its “digital gold” description, but it does not guarantee price increases.Is Bitcoin Mining Profitable?When evaluating mining income, distinguish the amount of BTC earned from net profit. Even if Bitcoin’s price rises, electricity and other expenses can consume the earnings.Calculating electricity costsConsider a hypothetical ASIC drawing an average of 3,000 watts from the wall. Running 24 hours a day, it consumes 72 kWh daily.For this example, assume a total electricity price of 4 Turkish lira per kWh:CalculationResultDaily consumption: 3 kW × 24 hours72 kWhDaily electricity cost: 72 × 4 lira288 liraConsumption over 30 days2,160 kWhElectricity cost over 30 days8,640 liraThis calculation does not represent a current electricity tariff or a particular device. External cooling, downtime, and variations in power consumption affect the actual result.Also account for tiered pricing or additional charges on your bill. Other household electricity use can influence your total bill.Expenses that affect net earningsA simplified operating calculation starts by subtracting electricity and other operating expenses from mining revenue. Track the upfront cost separately to determine whether you have recovered your hardware investment.Include the following items:Pool fees and any firmware fees.Cooling, maintenance, and replacement parts.Shipping, installation, and any import costs.Operating time lost to device failures.Financing costs and tax obligations associated with the activity.Hardware depreciation over time.Profitability calculators produce estimates based on the assumptions you enter. Comparing different scenarios is more useful than treating their results as a definite income forecast.For example, separately test scenarios involving a falling Bitcoin price, rising difficulty, and higher electricity costs. This helps avoid relying on an investment calculation that works only under favorable conditions.Energy Consumption and Home MiningCryptocurrency mining requires physical infrastructure. Electricity sources, ambient temperature, and hardware service life affect both costs and environmental impact.How much energy does Bitcoin mining consume?Cambridge’s April 2025 report estimated Bitcoin mining’s annual electricity consumption at approximately 138 TWh. The research drew on data representing roughly 48% of global mining activity.The report estimated annual network-wide greenhouse gas emissions at 39.8 million tonnes of CO₂ equivalent.Electricity consumption and carbon emissions are distinct measures. Two facilities consuming the same amount of electricity can produce different emissions because of their energy sources.Energy sources and hardware wasteIn the Cambridge study, renewables accounted for 42.6% of participants’ electricity mix. Including nuclear energy’s 9.8% share, sources classified as sustainable reached 52.4%.However, renewable energy use does not eliminate the impacts of hardware production and electronic waste. Maintenance, repairs, and device lifespan also matter.More efficient ASIC models can reduce the energy required for the same computational work. Yet total network consumption may still rise if the number of devices increases.A cold climate may reduce cooling requirements at appropriately designed facilities. Waste heat recovery is also possible; its benefits depend on local heating demand and installation costs.Is Bitcoin mining at home possible?With suitable hardware and infrastructure, mining Bitcoin at home is technically possible. However, powerful ASIC devices can generate considerable heat and noise in a residential setting.Answer the following questions before installation:Can the electrical circuit handle the device’s continuous load?Can hot air exit the space safely?Will the noise affect household members or neighbors?Is the internet connection stable?Is the device’s management interface protected against external access?Does the activity comply with local rules and applicable agreements?Have a qualified electrician assess the electrical infrastructure. Unsuitable cables and connections can create risks under a continuous high load.Small-scale devices may appeal to people who want to learn and gain experience. However, the probability of finding a block through solo mining with limited computing power can remain extremely low.A home setup lets you observe the system directly and develop technical experience. The financial outcome still depends on electricity tariffs, device efficiency, and network conditions.Frequently Asked Questions (FAQ)Below are answers to some frequently asked questions about Bitcoin mining:What is Bitcoin mining, and how do you do it?: Bitcoin mining is the process of producing new blocks through Proof of Work calculations. It requires compatible ASIC hardware, electrical infrastructure, an internet connection, and suitable software. Miners can operate solo or join a pool.What equipment do you need for Bitcoin mining?: The basic requirements include a SHA-256 ASIC, a suitable power supply, network connectivity, and cooling infrastructure. You also need a Bitcoin wallet to receive payouts.How much can I earn from mining?: There is no fixed amount. Your device’s hash rate, network difficulty, Bitcoin’s price, transaction fees, and operating expenses affect the outcome. Gross revenue does not equal net profit.What should I consider when choosing a mining pool?: Compare the payout model, fees, minimum payout amount, and connection stability. Also review account security and protections against unauthorized payout address changes.Does Bitcoin mining harm the environment?: Electricity generation, hardware manufacturing, and electronic waste can create environmental impacts. Their scale depends on the energy source, device efficiency, and equipment lifespan.What are the advantages of mining Bitcoin at home?: You can learn to manage hardware, understand the network, and monitor performance. There is also potential to earn income, although electricity, noise, and cooling requirements constrain the outcome.Explore JrKripto’s mining rig guide for a closer look at Bitcoin mining hardware. Our Proof of Work and Bitcoin halving guides also explain network security and the reward mechanism.
Companies holding crypto assets started the week with different investment decisions. Strategy made no Bitcoin purchases last week, while Strive bought $511.4 million worth of Bitcoin.Meanwhile, Bitmine continued its weekly Ethereum purchases. The company added another 10,452 ETH to its portfolio.Strive’s purchase stood out among the updates released on Monday, October 26. The company increased its total Bitcoin holdings to 43,000 BTC. Bitmine’s Ethereum reserves exceeded 6.05 million ETH.Strive Buys $511.4 Million Worth of BitcoinStrive purchased 6,182 Bitcoin between October 17 and 23. The company spent approximately $511.4 million on the acquisitions. Its average purchase price reached $82,732 per Bitcoin, including fees and expenses.A filing with the U.S. Securities and Exchange Commission detailed the increase in reserves. Strive held 36,818 BTC on its balance sheet as of October 16. The latest purchases brought that figure to 43,000 BTC. Strive's SEC filing. The company’s Bitcoin reserves therefore grew by approximately 16.8% during the period. The transaction marked Strive’s largest Bitcoin purchase to date.Alongside its Bitcoin purchases, the company strengthened its cash position. Cash and cash equivalents rose from $317.5 million to $504.4 million. This represented an increase of $186.9 million.Strive also maintained its holdings of Strategy’s STRC preferred stock. The company’s position remained unchanged at 505,000 STRC shares. The fair value of those shares reached approximately $50.18 million.A New Financing Program Also Takes EffectStrive’s large purchase followed its SATS preferred stock offering. The company sold 7 million shares at $90 each, raising $630 million in gross proceeds.Strive also established a new at-the-market offering program for SATS shares. The program allows the company to sell up to $1 billion in shares over time.The company can use the proceeds for Bitcoin purchases and other corporate purposes. Potential uses also include income-generating assets, working capital, and share buybacks.However, the program’s size does not mean Strive has already raised $1 billion. Actual sales will depend on the company’s financing decisions and market conditions.Bitmine Lifts Ethereum Reserves Above 6.05 MillionBitmine announced that it purchased 10,452 ETH last week. The acquisitions brought its total Ethereum holdings to 6,051,933 ETH as of October 25.The company said this represented approximately 4.95% of Ethereum’s total supply. Bitmine aims to hold 5% of the total ETH supply over the long term.Chairman Tom Lee highlighted the company’s continued weekly purchases. According to Lee, Bitmine has bought ETH every week since launching its Ethereum treasury strategy on June 30, 2025.Bitmine also uses a substantial portion of its reserves for staking. The company’s staked Ethereum reached 5,227,037 ETH. That amount represents approximately 86% of its total Ethereum holdings.The company reported annualized staking revenue of $318 million based on its current staking position. This figure reflects an annualized calculation under current conditions, rather than realized revenue over a full year.Bitmine also repurchased its own shares during the same week. The company bought 2.04 million shares at an average price of $22.48. It therefore allocated funds to share buybacks while continuing to accumulate Ethereum.While Strategy ended the week without new Bitcoin purchases, the other two companies expanded their reserves. Strive’s update highlighted Bitcoin acquisitions and new financing options. Bitmine continued its Ethereum purchases, staking activities, and share buybacks.
Bitcoin started the week of October 26–November 1 at around $80,100. Ether was trading near $2,320 at the time of writing. The Fed’s interest-rate decision and US inflation data are at the center of the market’s attention. Balancer’s transition to withdrawal mode, corporate earnings and network upgrades will also shape the week.Fed decision will arrive before the PCE reportThe Federal Reserve will hold its penultimate meeting of the year on October 27–28. Its official calendar shows the decision arriving on Wednesday, October 28, at 9:00 p.m. Türkiye time.Fed Chair Kevin Warsh’s press conference will begin at 9:30 p.m. Of the 100 economists surveyed by Reuters, 94 expect the target rate to remain at 3.75%–4%.The Fed raised rates by 25 basis points at its September meeting. Investors will now focus on any signals about the December meeting.The PCE report will arrive one day after the decision. According to the BEA calendar, the data will be released on Thursday, October 29, at 3:30 p.m. Türkiye time.Annual PCE inflation stood at 3.4% in August. The FactSet median forecast expects the September rate to climb to 3.7%.The forecast for core PCE inflation stands at 3.1%. A higher result could strengthen expectations for another rate increase in December.The first estimate of US third-quarter economic growth will be published at the same time. Personal income, spending and weekly jobless claims will also be released.The third-quarter Employment Cost Index will arrive on Friday, October 30, at 3:30 p.m. The report will show the latest level of wage-driven inflation pressure.Four other major central banks will announce decisionsThe Reserve Bank of New Zealand will publish its interest-rate decision on October 28 at 4:00 a.m. Türkiye time. Its current policy rate stands at 2.75%.Markets assign a probability of around 75% to an increase to 3%. The Bank of Canada will announce its decision later that day at 4:45 p.m.Governor Tiff Macklem’s press conference will begin at 5:30 p.m. Of the 34 economists surveyed by Reuters, 19 expect a 25-basis-point increase, which would lift the policy rate to 2.50%.The European Central Bank will announce its decision on Thursday, October 29, at 4:15 p.m. Christine Lagarde’s press conference will begin at 4:45 p.m.Most economists expect the deposit rate to remain at 2.50%. Expectations for a 25-basis-point increase in December are gaining prominence.The Bank of Japan will meet on October 29–30. Its decision is expected on the morning of October 30, followed by a press conference at 9:30 a.m. Türkiye time.Reuters surveys point to the rate remaining at 1.25%. Markets are pricing in the possibility of an increase to 1.50% in December.Oil prices keep inflation risks aliveBrent crude traded near $110 on the first day of the week. The price reached $116.72 on Friday, its highest level since June 2022.The war with Iran and disruptions to energy shipments continue to keep the risk premium elevated. Another rise in oil prices could influence the Fed, ECB and BOJ decisions.The UK government will present its Autumn Budget on October 28. Tax and borrowing decisions could move sterling and global bond yields.Now, let's move on to crypto developments. The crypto market also faces a busy week of protocol, exchange and token-related developments:Balancer will enter withdrawal modeThe Balancer community approved an orderly wind-down of the protocol in September. BIP-928 calls for eligible pools to enter withdrawal mode on October 30.The bug bounty program will end on the same date. The final pause of the V3 Vault is scheduled for November 30.The community is also voting on BIP-934, BIP-935 and BIP-936. The results are expected to become final on October 27.BIP-934 proposes burning the DAO’s holdings of 10 million BEETS. The tokens have a nominal value of approximately $39,000.BIP-936 defines the technical onchain steps required for the shutdown. The plan will close pool factories and reduce protocol fees to zero.Authorized parties will be able to pause eligible pools on October 30. Withdrawal functions will remain available to users.BNB Chain, Hedera and Unichain will undergo upgradesBNB Chain will activate its Jenner upgrade on the testnet on October 28. The mainnet date will be announced later.Jenner will reserve 5% of block capacity for eligible payments. The upgrade will also introduce millisecond timestamps and CAS20 support.Hedera will upgrade to version 0.78.2 at 8:00 p.m. Türkiye time on the same day. Its status page warns of a service interruption lasting approximately 40 minutes.The Unichain mainnet will migrate to OP Enterprise infrastructure on October 29. Chain ID, balances, applications and contracts will remain unchanged.Optimism will take over sequencer, RPC and incident-management operations under the new structure. The migration will prepare Unichain for native interoperability across OP Stack chains.Lisk Chain will cease operations on October 31. The project has asked users to withdraw all assets by that date.Bridge transactions can take seven days, creating a risk of delays. The warning covers LSK, ETH, stablecoins and DeFi positions.Binance, Bybit and Bitget will delist trading pairsBinance will end spot trading for EPIC and QUICK on October 28 at 6:00 a.m. Türkiye time. Open orders and trading bots will close at the same time.The exchange will stop crediting deposits made after October 29 at 6:00 a.m. Withdrawals will remain available until December 28 at 6:00 a.m.Bybit will close HFT deposits on October 27 at 11:00 a.m. HFT/USDT spot trading will end on October 28 at 11:00 a.m.Bitget will remove the ZENT, MOODENG and HEI pairs on October 30 at 1:00 p.m. The exchange will keep withdrawals open until January 30, 2027.CFTC will discuss AI-driven tradingThe CFTC will begin its Frontier Forum meeting on October 28 at 8:00 p.m. Türkiye time. The program will focus on superintelligence and autonomous trading systems.The second session will cover AI agents that conduct financial transactions. Participants will discuss how existing CFTC rules apply to these activities.The meeting does not mark the introduction of a new regulation. It could still provide a policy signal for autonomous financial applications linked to crypto.M, FF and EIGEN unlocks stand outMemeCore will conduct the week’s largest token unlock. The project will release 56.11 million M tokens on November 1.Based on the token’s price on the morning of October 26, the unlock is worth approximately $56 million. The amount represents around 2.8% of the circulating supply.Falcon Finance will unlock 75 million FF on October 29 at 2:52 p.m. The tokens are currently worth approximately $7.42 million.Some calendars show a second distribution of 128.06 million FF on the same day. Investors should therefore monitor the project’s final distribution figures.EigenCloud will release 36.82 million EIGEN on October 31 at 4:15 p.m. The tokens are worth approximately $7.29 million at the current price.The distribution covers investors and early contributors. The amount equals approximately 3.77% of the circulating supply.ZORA will unlock 166.67 million tokens on October 30 at 5:46 a.m. The distribution, worth approximately $1.03 million, will go to the team, investors and treasury.Another 271.06 million GUN will unlock on the same day at 2:52 p.m. The approximately $550,000 distribution equals close to 7% of the circulating supply.Tracking sources publish different figures for SUI. DefiLlama shows 2.07 million SUI unlocking on October 31 at 5:31 a.m.Another calendar calculates a total of 6.07 million SUI across two separate distributions. Approximately $1.9 million therefore represents a conservative lower estimate.ZetaChain will unlock 44.26 million ZETA on November 1 at 12:58 p.m. The tokens are currently worth approximately $1.73 million.All dollar values were calculated using spot prices on the morning of October 26 and are approximate.Four crypto companies will report earningsGalaxy Digital will publish its third-quarter results before the market opens on October 27. Its conference call will begin at 3:30 p.m. Türkiye time.Robinhood will report its results after US markets close on the same day. The management webcast will begin at midnight Türkiye time on October 28.Coinbase will publish its third-quarter results after the market closes on October 29. Its question-and-answer session will begin at midnight on October 30.Strategy will also report after the closing bell on October 29. Investors will follow the valuation of its Bitcoin holdings, tax effects and capital raises.The company’s webcast will begin at midnight Türkiye time on October 30.Events will begin in Buenos Aires and MumbaiLABITCONF will take place in Buenos Aires on October 30–31. The program will focus on Bitcoin, blockchain, artificial intelligence and Latin American markets.India Blockchain Week will begin in Mumbai on November 1. The two-day conference will cover DeFi, infrastructure, tokenization and institutional adoption.The DeFi Security Summit will also take place in Mumbai on November 1–2. Security researchers, auditors and protocol developers will attend the event.This week’s 45-event crypto calendarOctober 26, 10:11 a.m. Türkiye time: Approximately $1.11 million in WAL unlocks.October 26, 12:58 p.m.: Approximately $1.50 million in ALT unlocks.October 27, 3:30 p.m.: Galaxy Digital’s third-quarter earnings.October 27, 3:30 p.m.: US durable goods orders.October 27, 5:00 p.m.: US consumer confidence.October 27, 5:00 p.m.: US new home sales.October 27: Results of Balancer proposals BIP-934, BIP-935 and BIP-936.October 28, midnight: Robinhood’s third-quarter earnings webcast.October 28, 3:00 a.m.: Approximately $518,000 in IOTA unlocks.October 28, 4:00 a.m.: Reserve Bank of New Zealand interest-rate decision.October 28, 11:00 a.m.: Bybit ends HFT trading.October 28, 6:00 a.m.: Binance ends EPIC and QUICK trading.October 28: BNB Chain’s Jenner testnet upgrade.October 28, 3:30 p.m.: US goods trade and wholesale inventory data.October 28, 4:45 p.m.: Bank of Canada interest-rate decision.October 28, 8:00 p.m.: CFTC Frontier Forum meeting.October 28, 8:00 p.m.: Hedera v0.78.2 mainnet upgrade.October 28, 9:00 p.m.: Fed interest-rate decision.October 28, 9:30 p.m.: Fed Chair Kevin Warsh’s press conference.October 28: UK Autumn Budget.October 29, 2:52 p.m.: At least 75 million FF unlocks.October 29, 3:30 p.m.: First estimate of US third-quarter GDP growth.October 29, 3:30 p.m.: US September PCE inflation.October 29, 3:30 p.m.: US weekly jobless claims.October 29, 4:15 p.m.: ECB interest-rate decision.October 29: Unichain’s migration to OP Enterprise infrastructure.October 30, midnight: Coinbase’s third-quarter earnings webcast.October 30, midnight: Strategy’s third-quarter earnings webcast.October 30, 4:23 a.m.: Approximately $1.58 million in ASTER unlocks.October 30, 5:46 a.m.: Approximately $1.03 million in ZORA unlocks.Morning of October 30: Bank of Japan interest-rate decision.October 30, 1:00 p.m.: Bitget removes three spot trading pairs.October 30, 2:52 p.m.: Approximately $550,000 in GUN unlocks.October 30, 3:30 p.m.: US Employment Cost Index.October 30, 4:45 p.m.: Chicago PMI.October 30: Balancer pools enter withdrawal mode.October 30–31: LABITCONF Buenos Aires.October 31, 4:00 a.m.: Puffer Gauge vote concludes.Morning of October 31: SUI token unlock.October 31, 4:15 p.m.: Approximately $7.29 million in EIGEN unlocks.October 31: Final day to withdraw assets from Lisk Chain.November 1: Approximately $56 million in M unlocks.November 1, 12:58 p.m.: Approximately $1.73 million in ZETA unlocks.November 1: India Blockchain Week begins.November 1: DeFi Security Summit begins.
U.S. spot Bitcoin ETFs ended a three-day inflow streak with substantial withdrawals. The funds recorded $635.49 million in net outflows on Thursday, October 22. Ethereum, Solana, and Hyperliquid funds also saw withdrawals, while XRP products attracted fresh capital.Combined data for Bitcoin, Ethereum, XRP, Solana, and Hyperliquid show approximately $758.83 million in net outflows. This calculation covers only ETFs tracking those five assets. It therefore does not represent the entire U.S. crypto ETF market.Bitcoin funds recorded the largest withdrawals of the day. Ethereum ETFs followed with $110.50 million in net outflows. Together, funds tracking the two largest cryptocurrencies lost $745.99 million.BlackRock and Fidelity lead Bitcoin ETF outflowsMarket data show that BlackRock’s IBIT recorded $254.05 million in net outflows. Fidelity’s FBTC followed with withdrawals of $217.46 million. Together, the two funds accounted for approximately 74% of daily net Bitcoin ETF outflows.ARK Invest and 21Shares’ ARKB also recorded $109.43 million in withdrawals. Grayscale’s GBTC lost $29.53 million, while Bitwise’s BITB saw $27.35 million leave. Morgan Stanley’s MSBT moved in the opposite direction, attracting $2.33 million.Farside Investors’ table shows a similar distribution across the same funds. However, Farside puts total daily net outflows at $635.6 million. Although the two data providers report slightly different figures, both show the same direction.One day of withdrawals erased much of the three-day recoveryBitcoin ETFs had started the week strongly. According to Farside, the funds attracted $526.7 million in net inflows on October 19. They then added $23.2 million on October 20 and $524.8 million on October 21.Total inflows across those three sessions reached approximately $1.075 billion. Thursday’s withdrawals erased roughly 59% of that amount. Nevertheless, the first four trading days of the week still generated $439.1 million in net inflows.The comparison highlights the difference between daily flows and the weekly picture. Despite Thursday’s sharp reversal, earlier inflows have not disappeared entirely. Friday’s flows will determine where the weekly total ends.Ethereum’s brief recovery endsEthereum ETFs also returned to outflows on October 22. Daily figures sourced from SoSoValue show net withdrawals of $110.50 million. Farside’s calculation for the same session stands at $110.6 million.In Farside’s table, BlackRock’s ETHA led withdrawals with $75.5 million. ETHB recorded $17.2 million in outflows, while Grayscale’s ETHE lost $9.6 million. Grayscale’s ETH fund also saw withdrawals of $10.7 million.Meanwhile, Fidelity’s FETH attracted $2.4 million in net inflows. That amount was insufficient to offset withdrawals from the other products.Ethereum funds had attracted $14.9 million in net inflows during the previous session. The latest withdrawals brought total net outflows across the week’s first four days to $225.1 million. Ethereum therefore diverged from Bitcoin, which retained net inflows over the same period.XRP attracts inflows as Solana and Hyperliquid see withdrawalsXRP ETFs recorded $3.55 million in net inflows on October 22. Solana funds lost $8.51 million, while Hyperliquid funds saw withdrawals of $7.88 million. Among these five assets, XRP was the only category to finish with positive net flows.However, XRP’s inflows remained far below the withdrawals across the other four categories. Bitcoin and Ethereum accounted for the bulk of outflows within the group. The latest figures show that early-week Bitcoin ETF demand failed to persist on Thursday, while altcoin fund flows diverged.
Tesla maintained its Bitcoin reserves in the third quarter of 2026. Its holdings remained at 11,509 BTC, while the balance sheet value of its digital assets increased. The electric vehicle maker continued to hold its Bitcoin position throughout the reporting period.The company released its financial results on Wednesday, October 21, after U.S. markets closed. Third-quarter revenue reached approximately $28.05 billion. Tesla reported roughly $28.10 billion in revenue during the same period last year.For the crypto market, the distinction between reserve size and valuation stood out. Tesla maintained its Bitcoin holdings as price movements increased their accounting value. This illustrates how corporate crypto portfolios can affect financial results without any trading activity.Tesla’s Digital Assets Reach $962 MillionThe carrying value of Tesla’s digital assets reached $962 million at the end of September. The same balance sheet item stood at $674 million at the end of June. That represents a quarterly increase of $288 million, or approximately 42.7%.The company recorded a $288 million pretax unrealized gain on digital assets during the third quarter. The after-tax figure totaled $224 million. These figures highlight the contribution of Tesla’s Bitcoin holdings to its financial results.An unrealized gain does not mean the company generated cash by selling Bitcoin. Instead, Tesla reflects changes in the quarter-end value of its holdings in its financial statements. Investors therefore need to distinguish between reserve size and its reported dollar value.The increase in digital assets also matches the reported unrealized gain. This suggests price movements drove the portfolio’s higher valuation. Current reports likewise indicate that Tesla’s Bitcoin holdings remained unchanged.The $962 million figure represents the balance sheet value as of September 30. Subsequent Bitcoin price movements can change the portfolio’s current market value. The reported figure therefore should not serve as a real-time valuation.Revenue Holds Steady as Net Income FallsTesla’s total third-quarter revenue declined approximately 0.2% year over year. The company reported revenue of $28.046 billion. Revenue stood at $28.095 billion during the same period last year.Profitability, however, showed a more pronounced decline. Net income fell from $1.373 billion a year earlier to $787 million. Operating income also dropped from $1.624 billion to $718 million.Tesla nevertheless ended the quarter with positive cash flow. The company generated approximately $6.26 billion in operating cash flow. After capital expenditures, free cash flow totaled around $1.53 billion.Bitcoin Holdings Remain Unchanged From the Previous QuarterTesla’s SEC report covering the period ended June provides an important reference point. In that report, the company stated that 11,509 Bitcoin represented most of its digital assets. It disclosed a total acquisition cost of $386 million for those holdings.Reports covering the third quarter show the same Bitcoin balance. The main change between the two periods therefore concerns the reserves’ dollar value. Tesla’s existing position continues to expose its balance sheet to Bitcoin price movements.Maintaining its reserves does not, by itself, represent a commitment to future purchases. The available figures describe Tesla’s position at the end of the third quarter. Both its Bitcoin balance and valuation gains will remain relevant in future earnings reports.
The Bitcoin network creates new BTC according to predefined rules. Halving is central to these rules, slowing new Bitcoin issuance roughly every four years. Understanding Bitcoin halving makes it easier to assess both its supply structure and mining economics. However, its effects extend beyond price movements; miner revenue, transaction fees, and market expectations also matter.What Is Bitcoin Halving, and What Does It Do?Bitcoin halving cuts the amount of new BTC miners can receive for a valid block in half. The event is also known as a reward halving. The Bitcoin network applies this reduction every 210,000 blocks. Since the network targets an average block time of ten minutes, halvings occur approximately every four years.Technically, the component that halves is new BTC issuance, known as the “block subsidy.” Transaction fees collected by miners do not halve under the same rule.Why is halving part of Bitcoin’s design?Bitcoin’s supply model creates new coins in progressively smaller amounts. When the network launched, the subsidy was 50 BTC per block. Each halving reduces the amount of new BTC available per block during the following period. This gradually slows the rate of new issuance. The structure allows Bitcoin to approach its supply limit of approximately 21 million coins. Under the current protocol rules, new BTC issuance is expected to end around 2140. Source: Bitcoin.org However, limited supply alone does not determine market value. Demand, liquidity, and users’ expectations also influence an asset’s price. For example, production of a product may decline while buyer interest also falls. A reduction in issuance should therefore not automatically be equated with a price increase.What does halving change, and what stays the same?Halving does not reduce the amount of Bitcoin in your wallet. If you hold 0.2 BTC before the event, your balance does not change solely because of halving.The protocol also does not require Bitcoin’s price to halve or double. Trading activity in the market determines its price.The main distinctions are:ComponentDirect effect of halvingNew BTC per blockFalls by halfExisting wallet balancesRemain unchangedTotal existing BTCDoes not halveBitcoin’s market priceNo automatic price adjustmentTransaction fees within a blockDo not automatically halveTarget average block timeRemains ten minutesBitcoin halving should therefore not be understood as an event that divides existing holdings. It changes the amount of new Bitcoin that subsequent blocks can create.How Does Bitcoin Halving Work?Bitcoin halving depends on block height. The network uses the number of blocks rather than a particular calendar date. Block height identifies a block’s position in the chain. When the network reaches a halving threshold, the permitted subsidy decreases.Block height and the halving scheduleThe first halving occurred at block 210,000. Subsequent halvings took effect at blocks 420,000, 630,000, and 840,000. Source: Bitcoin.org The next threshold is block 1,050,000. From that block onward, new BTC issuance per block will fall to half the current subsidy. Miners cannot create any amount of new BTC they choose. Full nodes validate blocks against the protocol rules and reject blocks that exceed the permitted reward.This mechanism shows that the supply schedule rests on more than an announcement. The rules operate within the software that checks block validity.Block subsidies and transaction feesA miner’s revenue from a block has two main components:The amount of new BTC permitted by the protocol.Fees from the transactions included in the block.Miners can operate independently or combine their computing power in a pool. Within pools, revenue distribution depends on the payment model. For a simplified example, suppose the block subsidy is 3.125 BTC. Assume the block also contains 0.2 BTC in transaction fees. The total reward associated with that block would be 3.325 BTC. At the next halving, the subsidy falls to 1.5625 BTC.If transaction fees remain at 0.2 BTC, the total becomes 1.7625 BTC. Total revenue therefore does not fall by exactly half in this example.Revenue componentExample before halvingExample after halvingBlock subsidy3.125 BTC1.5625 BTCTransaction fees0.2 BTC0.2 BTCTotal3.325 BTC1.7625 BTCThe transaction fee amount in the table is hypothetical. Actual total fees can differ from one block to another.How does halving affect daily Bitcoin issuance?A target average block time of ten minutes corresponds to approximately 144 blocks per day. This provides a calculation assumption for explaining daily issuance.At 3.125 BTC per block, daily new supply would be approximately 450 BTC. After the next halving, the same number of blocks would produce approximately 225 BTC.The calculation works as follows:Current period: 144 × 3.125 = 450 BTC.Next period: 144 × 1.5625 = 225 BTC.However, the network does not produce exactly 144 blocks every day. Block discovery times vary, so actual daily issuance also fluctuates. These figures do not represent the amount of Bitcoin that will be sold on exchanges each day. Miners may hold new BTC, sell part of it, or draw on earlier reserves.Bitcoin Halving Dates and the Next HalvingAs of October 2026, Bitcoin has undergone four halvings. The most recent occurred on April 20, 2024, at block 840,000. That event reduced the block subsidy from 6.25 BTC to 3.125 BTC. The next halving is expected around 2028.Historical Bitcoin halving datesThe table below shows previous Bitcoin halvings and the next threshold:HalvingDateBlock heightPrevious subsidyNew subsidyFirstNovember 28, 2012210,00050 BTC25 BTCSecondJuly 9, 2016420,00025 BTC12.5 BTCThirdMay 11, 2020630,00012.5 BTC6.25 BTCFourthApril 20, 2024840,0006.25 BTC3.125 BTCFifthApproximately 20281,050,0003.125 BTC1.5625 BTCThe historical dates refer to completed events, while 2028 is an estimated year.When is the next Bitcoin halving?The next Bitcoin halving will occur when the network reaches block 1,050,000. Although the expected year is 2028, the exact date and time are not fixed in advance. This is because blocks do not arrive at precisely ten-minute intervals. Some take less time to find, while others take longer.Countdown tools combine the remaining block count with an estimated block time. As the network progresses, the estimated date may change. For example, two countdown websites may display different dates. Differences in their average block time assumptions and update times can explain this. When an article gives a precise date, check when the estimate was calculated. Block height is the determining factor.At the time of writing, the figures were as follows: How to follow a halving countdownWhen reviewing a countdown, look beyond the number of days remaining. Examine the data behind the estimate as well.The following information can help:The network’s current block height.The block threshold for the next halving.The number of blocks remaining until that threshold.The average block time used in the calculation.The time of the latest data update.For example, suppose 10,000 blocks remain between the current height and the threshold. Using ten minutes per block produces an estimate of approximately 69.4 days. This is a hypothetical example explaining the method. The actual duration may change depending on how quickly subsequent blocks arrive.How Does Bitcoin Halving Affect Price and Miners?When people discuss Bitcoin halving’s effects, price often comes to mind first. However, the direct change occurs in new BTC issuance.The price response depends on other variables. For miners, revenue measured in Bitcoin and overall business profitability are also different measures.Does lower issuance guarantee a price increase?Halving reduces the flow of new BTC that can enter the market. If demand remains steady or increases, this may support the price. However, existing Bitcoin holders can also sell. Market selling pressure therefore extends beyond newly mined coins.Other factors that may influence the price include:Investor demand for Bitcoin.Global liquidity and interest rate conditions.Buying and selling by large investors.Flows into and out of funds and investment products.Regulatory developments and market news.Leveraged positions and liquidations.The halving schedule is also known in advance. Investors may reflect their expectations in prices before the event occurs. Therefore, a 50% reduction in issuance does not imply that the price must double.How should past halving cycles be interpreted?Market analyses frequently examine price movements surrounding previous halvings. However, a rally following an event does not establish that the event was its sole cause. Bitcoin’s investor base, market size, and economic conditions have changed across periods. These differences make direct comparisons between cycles difficult.The chosen start and end dates also affect the result. The month following a halving may present a different picture from the following year.For example, selecting only a period that ends with gains may conceal sharp declines along the way. Examine volatility alongside returns when reviewing a price chart. Past cycles provide context for research. They do not establish that future cycles will repeat the same timing, gains, or peaks.Miner revenue and cost pressuresAfter halving, miners receive less new BTC per block. Electricity, maintenance, and equipment expenses do not automatically fall by half. This can pressure businesses with particularly high operating costs. More efficient equipment and favorable energy costs can widen the differences between operators.For a simplified calculation, assume Bitcoin trades at $80,000. This is an illustrative figure, not a current market price.A 3.125 BTC subsidy would be worth $250,000. When the subsidy falls to 1.5625 BTC, its value at the same price drops to $125,000. However, these amounts do not represent net profit. Transaction fees, pool distributions, energy expenses, and other costs also enter the calculation.Changes in Bitcoin’s price affect dollar-denominated revenue as well. A decline in BTC production and a decline in a business’s total revenue may therefore occur at different rates.What to Monitor Around Halving and Common MisconceptionsA single countdown screen does not provide a complete understanding of halving. Reviewing the supply schedule, network data, and market conditions together offers a clearer picture.Do not confuse precise price targets or guaranteed return claims with the technical halving rule. The protocol specifies the subsidy amount; it does not determine investment outcomes.Which data can be useful?Different data points answer different questions in halving research. Block height helps explain timing, while miner revenue helps assess economic effects.DataWhat it helps assessBlock heightDistance to the halving thresholdAverage block timeWhy the estimated date changesHash rateThe network’s estimated total computing powerMining difficultyCompetitive conditions for block productionTransaction feesThe fee component of miner revenueTrading volume and liquidityMarket trading conditionsAvoid drawing major conclusions from a single day’s changes. For example, the measurement window can affect a short-term hash rate estimate.Similarly, high transaction fees do not necessarily mean persistently high miner revenue. Distinguish temporary congestion from longer-lasting demand when assessing fees.Transaction fees and long-term securityAs new BTC issuance declines, transaction fees become increasingly important to miner revenue. Once the subsidy ends, the current design allows miners to continue earning fees.However, future fee levels cannot be known with certainty today. Demand for block space and users’ payment preferences influence how this revenue develops.Bitcoin’s long-term security budget is therefore a subject of research. Academic studies examine the importance of sufficient miner revenue as the subsidy declines.Halving does not include a rule that directly doubles users’ transaction fees. Network congestion and competition for transaction priority affect fees separately.Do users need to take any action?Bitcoin holders do not need to move their coins or visit a special link for halving. The event takes place under the network’s existing rules.Messages such as “connect your wallet to claim your halving reward” do not reflect how the protocol works. Halving is not a campaign that automatically distributes additional coins to Bitcoin holders.You also do not need to share your wallet’s recovery phrase. A page requesting those words should not be trusted simply because it mentions halving.Common misconceptions include:Thinking the BTC balance in your wallet will halve.Assuming the price will automatically double.Believing every halving has a fixed calendar date.Thinking transaction fees also halve.Expecting previous price cycles to repeat exactly.Frequently Asked Questions (FAQ)Below are some frequently asked questions and answers about Bitcoin halving.How often does Bitcoin halving occur?It occurs every 210,000 blocks. This corresponds to approximately four years, although the exact calendar interval depends on block production speed.When did the last Bitcoin halving take place?The most recent halving occurred on April 20, 2024, at block 840,000. The block subsidy fell from 6.25 BTC to 3.125 BTC.When is the next Bitcoin halving?It is expected around 2028, at block 1,050,000. The exact date and time may vary depending on the network’s progress.Will Bitcoin’s price definitely rise after halving?No. Halving reduces new issuance, but it does not guarantee market demand. Economic conditions and investor behavior can affect the price.Does halving reduce the Bitcoin in my wallet?No. Halving changes the amount of BTC that new blocks can create. Your existing wallet balance does not decrease solely because of halving.Will mining end once all bitcoins have been issued?The end of new BTC issuance does not mean block production stops. Under the current design, miners can continue earning transaction fees by including transactions in blocks.Explore JrKripto’s Bitcoin mining, Proof of Work, and Lightning Network guides to better understand how Bitcoin and cryptocurrencies work.
Strategy, Strive and Bitmine announced new cryptocurrency purchases on Monday, October 19. Strategy bought 267 Bitcoin, Strive acquired 1,223 Bitcoin, and Bitmine purchased 12,535 Ethereum. All three companies continued expanding their crypto holdings through different capital management strategies.The announcements show that the companies are also focusing on cash management and financing. Strategy repurchased STRC shares while buying Bitcoin. Strive continued its financing efforts, while Bitmine supported its Ethereum accumulation with staking activities.Strategy buys Bitcoin and repurchases STRC sharesStrategy spent $22.1 million on 267 Bitcoin between October 12 and 18. Its average purchase price, including transaction expenses, was $82,900 per coin. The latest acquisition brought its total holdings to 848,517 BTC.The company has spent $64.02 billion on its Bitcoin holdings to date. Its average acquisition cost across the entire portfolio stands at $75,446 per Bitcoin. Strategy funded $22 million of its latest purchase through MSTR share sales. During the same period, the company repurchased approximately 1.94 million STRC preferred shares. It spent $193.1 million on these repurchases and paid another $45.5 million in preferred dividends.These expenditures reduced its total dollar assets by approximately $239 million to $5.28 billion. That figure includes a $4.83 billion payment reserve and $447.3 million in cash for general purposes.Strategy’s management also expanded its preferred securities repurchase program. The program’s total authorization increased from $2 billion to $3 billion. Following the latest transactions, approximately $1.16 billion remained available under the program.Strive’s latest purchase brings holdings to 36,818 BitcoinStrive CEO Matt Cole announced that the company purchased 1,223 Bitcoin between Wednesday and Friday. It paid an average of $81,734 per Bitcoin. The reported volume and average price imply a purchase worth approximately $100 million.The latest transaction increased Strive’s total Bitcoin holdings to 36,818 BTC. The company expanded its holdings again after announcing two earlier major purchases. These three acquisitions totaled 7,356 Bitcoin.However, the latest announcement of 1,223 BTC does not cover all of Strive’s purchases last week. The company previously disclosed buying another 2,822 Bitcoin on October 12 and 13. Its total purchases for October 12–16 therefore reached 4,045 Bitcoin.This distinction matters when comparing the companies’ weekly acquisition rates. Strategy’s reported purchase of 267 BTC covers October 12–18. Strive’s latest announcement covers only its Wednesday-to-Friday transactions during the same week.Cole also said he expected proceeds from the SATS preferred share offering to settle on Tuesday. Strive plans to maintain an 18-month dividend reserve. The company is therefore setting aside funds for future payment obligations while expanding its Bitcoin holdings.Bitmine’s Ethereum holdings exceed 6.04 millionOn the Ethereum side, Bitmine announced that it purchased 12,535 ETH over the past week. Its total Ethereum holdings reached 6,041,481 ETH as of October 18. Bitmine said this represented approximately 4.9% of the total ETH supply.The company continues to approach its target of accumulating 5% of Ethereum’s supply. Chairman Tom Lee said its weekly purchases have continued without interruption. According to Lee, Bitmine has bought ETH every week since launching its Ethereum treasury strategy on June 30, 2025.Bitmine also uses a substantial portion of its Ethereum holdings for staking. The company’s staked holdings reached 5,067,309 ETH. This represents approximately 84% of its total Ethereum holdings.Based on current staking data, the company estimates approximately $309 million in annualized revenue. However, this figure does not represent guaranteed future earnings. Ethereum’s price and staking yields could change the actual amount.Bitmine’s crypto assets, cash, marketable securities and other investments have a combined value of $15.1 billion. Its cash and marketable securities stand at $582 million.
Bitcoin started the week of October 19–25 at around $82,600. Ethereum was trading near $2,425 at the time of writing, while the crypto market focused on Solana’s Alpenglow transition, global PMI data and three central bank decisions. China’s economy expanded by 4.5% year over year in the third quarter, producing the week’s first published macroeconomic result. Growth exceeded the 4.4% forecast, although weakness in retail sales and property investment continued to limit the global demand outlook.Fed enters blackout period as PCE data moves to next weekFederal Reserve officials have entered the blackout period ahead of the October 27–28 FOMC meeting. No new Fed speech capable of materially changing the interest-rate outlook is scheduled for this week.Some economic calendars show PCE inflation and third-quarter growth data during the current week. The US Bureau of Economic Analysis will publish both reports on October 29 at 3:30 p.m. Türkiye time.The Fed will announce its rate decision on October 28 at 9:00 p.m. Türkiye time. The chair’s press conference will begin at 9:30 p.m.Markets will assess housing data, jobless claims, global PMI results and oil prices before the meeting.Flash PMI data will offer growth and inflation signalsFlash PMI results for October will arrive on Friday, October 23. The euro-area composite PMI will be released at 11:00 a.m., followed by UK data at 11:30 a.m. and US manufacturing and services readings at 4:45 p.m. Türkiye time.Input costs and selling prices could prove as important as the headline readings. The UK services PMI slipped to 51.7 in September, while prices charged by companies increased at the fastest pace in four months.US housing starts and building permits for September will be released on Tuesday, October 20, at 3:30 p.m. Türkiye time. Weekly initial jobless claims will follow on Thursday, October 22, at the same time.Three central banks will announce rate decisionsThe Hungarian National Bank will announce its policy decision on October 20. Economists expect rates to remain unchanged, while energy costs and the forint’s performance will shape the risk assessment in the policy statement.The Bank of Korea will meet on October 21. The main market scenario points to an unchanged rate, while moves in the won and regional technology stocks could spill over into crypto markets.The Central Bank of the Republic of Türkiye will announce its decision on Thursday, October 22, at 2:00 p.m. Türkiye time. Market forecasts center on a reduction in the policy rate from 37% to 36%; this figure represents the pre-meeting consensus rather than a published decision.Canada’s September inflation data will arrive on October 20 at 3:30 p.m. Türkiye time. UK inflation will follow on October 21 at 9:00 a.m., while the country’s retail sales report will be released on Friday, October 23, at 9:00 a.m.Oil prices keep pressure on interest ratesBrent crude started the week near $108 per barrel. Expectations that sanctions on Russia could be eased pushed futures prices lower, while risks around the Strait of Hormuz kept tanker and insurance costs elevated.The transmission of energy costs into transportation and food prices could delay central bank rate cuts. High bond yields and a strong dollar could also create liquidity pressure for Bitcoin and altcoins.Comment period closes for the SEC’s crypto proposalThe comment period for the SEC’s “Regulation Crypto Assets” proposal will close on October 20. The proposal introduces a separate disclosure regime for crypto asset offerings and a conditional safe harbor for determining whether certain projects constitute investment contracts.The draft contains two offering exemptions: one covering up to $5 million over four years and another covering up to $75 million over 12 months. The end of the comment period will not finalize the proposal, as the SEC must review the feedback and hold a separate vote.Solana Alpenglow will activate on mainnetSolana plans to activate its Alpenglow consensus system on Wednesday, October 21, at approximately 6:00 p.m. Türkiye time. The transition will occur during mainnet epoch 1,064, although the exact time could shift by several minutes depending on block production.Alpenglow aims to reduce finality from approximately 12.8 seconds to around 150 milliseconds. The change primarily updates how the network reaches agreement on blocks rather than altering the transaction execution layer.Validators must switch to a compatible client based on Agave 4.3.0. Firedancer and Frankendancer clients will not be supported during the initial transition.Filecoin, Aero and XRP Ledger enter the calendarBinance will suspend Filecoin deposits and withdrawals on October 19 at 2:59 p.m. Türkiye time. The network upgrade and hard fork are expected to occur at block height 6,470,279 at approximately 3:59 p.m., while spot trading will remain available.The Aero protocol, created through the merger of Aerodrome and Velodrome, will launch on October 22 at 3:00 a.m. Türkiye time. Users will be able to convert veAERO balances into sAERO at a one-to-one ratio, while each VELO will convert into 0.044 AERO.The fixCleanup3_4_0 amendment on XRP Ledger is expected to activate on October 23 at approximately 12:34 p.m. Türkiye time. The date remains conditional because the 14-day countdown will reset if validator support falls below the required 80% threshold.Upbit and Bitget will end trading supportUpbit will end trading support for ICON on October 19 at 9:00 a.m. Türkiye time. The exchange will cancel open ICX orders, while users should check the separate deadline for withdrawals.Bitget will stop allowing new positions in the EPICUSDT perpetual futures contract on October 20 at 7:00 a.m. Türkiye time. The exchange will delist the contract at 10:00 a.m. and settle remaining positions under its settlement rules.Bitget will also remove DRIFT, RVV, DOG, SWEAT, ICX, PUMPBTC, GAIB and RTX spot pairs on October 23 at 1:00 p.m. Türkiye time. Withdrawals for the affected assets will remain available until January 23, 2027, at 1:00 p.m.No high-profile new spot token listing has been confirmed on a major exchange for the week. Aero’s launch represents the main development involving a new product and token merger.Arbitrum and Cardano votes will concludeCardano’s stake pool operator poll on increasing the target number of stake pools from 500 to 1,000 will end on October 21. The result will provide community feedback for future governance decisions without automatically changing the protocol parameter.Four Arbitrum proposals will close on October 22. They cover a 1,700 ETH treasury transfer, layer-1 pricing ahead of Ethereum’s Glamsterdam upgrade, a voting recovery system and the adoption of USDG as a strategic initiative.ZRO, TON and AVAX supplies will expandLayerZero is expected to release approximately 23.6 million ZRO on October 20. Based on the token’s $1.89 price at the time of writing, the unlock is worth approximately $44.7 million.The TON Believers Fund schedule includes an unlock worth approximately $49 million on October 23. Avalanche will release 1.67 million AVAX from its foundation allocation on October 24 at around 11:20 p.m. Türkiye time, giving the unlock an approximate value of $16.3 million at the current price.Tracking platforms display different times for the KAITO unlock, ranging from the evening of October 19 to October 20. The approximately 17.6 million KAITO involved are worth around $4.9 million at the current price.Calendar providers also show different dates for the Humanity Protocol unlock, listing either October 23 or October 25. The approximately 266 million H tokens are worth around $15.1 million based on the price at the time of writing.Sources report between 88.9 million and 227.8 million XPL for the scheduled unlock. At the current price of $0.077, its approximate value ranges from $6.8 million to $17.5 million, depending on the allocations included.All dollar figures are approximate and based on current spot prices. Token tracking platforms classify linear distributions and same-day allocations differently, creating discrepancies in the H and XPL figures in particular.Tesla earnings and Plan ₿ Forum enter focusNo major publicly traded crypto company has confirmed an earnings release for this week. Coinbase and Strategy will report on October 29, after the current calendar period.Bitcoin holder Tesla will release its third-quarter results after the US market closes on October 21. Due to the time difference, the company’s conference call will begin on Thursday, October 22, at 12:30 a.m. Türkiye time.Plan ₿ Week in Lugano will host educational, developer and Bitcoin community events from October 19 to 25. The main Plan ₿ Forum will take place on October 23–24, focusing on nation-state Bitcoin adoption, financial freedom and payment infrastructure.This week’s 38-event crypto calendarOctober 19, 9:00 a.m. Türkiye time: Upbit ends ICX trading support.October 19, 2:59 p.m.: Binance suspends FIL deposits and withdrawals.October 19, approximately 3:59 p.m.: Filecoin network upgrade and hard fork.October 19–25: Lugano Plan ₿ Week.October 19–20: Approximately $4.9 million KAITO unlock.October 20, 7:00 a.m.: Bitget stops allowing new EPICUSDT positions.October 20, 10:00 a.m.: Bitget delists the EPICUSDT perpetual contract.October 20: Hungarian National Bank interest-rate decision.October 20: Comment period closes for the SEC’s Regulation Crypto Assets proposal.October 20: Approximately $44.7 million ZRO unlock.October 20, 3:30 p.m.: US housing starts and building permits.October 20, 3:30 p.m.: Canada’s September inflation data.October 21, 9:00 a.m.: UK inflation data for September.Morning of October 21: Bank of Korea interest-rate decision.October 21, approximately 6:00 p.m.: Solana Alpenglow transition.October 21: Cardano’s stake pool target poll concludes.October 22, 12:30 a.m.: Tesla’s third-quarter earnings call.October 22, 3:00 a.m.: Aero protocol launches.October 22, 2:00 p.m.: Central Bank of the Republic of Türkiye interest-rate decision.October 22, 3:30 p.m.: US initial jobless claims.October 22: Arbitrum’s 1,700 ETH transfer vote concludes.October 22: Arbitrum’s layer-1 pricing proposal closes.October 22: Arbitrum’s voting recovery system proposal closes.October 22: Arbitrum’s USDG strategic initiative proposal closes.October 23, 9:00 a.m.: UK retail sales for September.October 23, 11:00 a.m.: Flash euro-area PMI data for October.October 23, 11:30 a.m.: Flash UK PMI data for October.October 23, approximately 12:34 p.m.: Target activation time for XRP Ledger’s fixCleanup3_4_0 amendment.October 23, 1:00 p.m.: Bitget removes eight spot trading pairs.October 23, 4:45 p.m.: Flash US PMI data for October.October 23: Approximately $6.3 million SOON unlock.October 23: Approximately $49 million supply unlock under the TON Believers Fund schedule.October 23–24: Lugano Plan ₿ Forum.October 24, around 12:00 p.m.: Approximately $6.9 million SOSO unlock.October 24, approximately 11:20 p.m.: Approximately $16.3 million AVAX unlock.October 25, 3:00 a.m. according to one calendar provider: Approximately $15.1 million H unlock.October 25, approximately 10:00 a.m.: Approximately $5 million COAI unlock.October 25, approximately 3:00 p.m.: XPL supply unlock, with an estimated value of $6.8 million to $17.5 million.Solana’s Alpenglow transition will be the week’s most significant crypto-specific technical event. The broader market direction could depend more heavily on Friday’s PMI data, central bank decisions, Brent crude near $108 and rate expectations ahead of the next Fed meeting.
Deutsche Bank is preparing to launch its crypto asset custody service within weeks. Gerald Podobnik, the bank’s co-head of corporate banking, said it plans to expand the platform to Asian financial centers in 2027 following its launch in Germany. The initiative, which includes Bitcoin and Ethereum, marks another step in the bank’s efforts to expand its digital asset services.In an official statement dated September 16, the bank said it aimed to begin serving its first clients this year. However, the launch remains subject to completion of the applicable regulatory processes; the service’s scope and geographical availability may also change depending on those requirements.Institutional Clients Are the Initial FocusDeutsche Bank’s planned service will focus on corporate and institutional clients in Europe. Its target customers include companies, asset managers, hedge funds, custodians, brokers and sovereign institutions.The bank will manage digital wallets and private keys on behalf of clients. This will allow customers to hold supported digital assets and transfer them to third parties without building their own custody infrastructure.Client onboarding will be subject to the bank’s due diligence procedures and risk criteria. The official statement also makes clear that the service is not intended for retail customers.This scope helps clarify the significance of the announcement. The proposed model allows institutional clients to manage their crypto assets through infrastructure provided by the bank; it does not amount to a general trading launch for individual account holders.Stablecoin Support Alongside Bitcoin and EthereumThe bank’s product page lists USDC, EURC and EURAU alongside Bitcoin and Ethereum among the assets it plans to support. The initial service offering includes digital asset custody, transfers and internal transfers between the bank’s different storage environments.Clients will access the platform through Deutsche Bank’s Autobahn system and corporate banking portal. The bank also lists customizable transfer approval processes among the platform’s features.Its technical infrastructure includes private key protection through hardware security modules, different storage options and multifactor authentication. Segregation of client assets is another of the announced control mechanisms.Managing the keys that provide access to digital assets sits at the center of this structure. For institutional clients, the service extends beyond holding assets to managing transfer permissions and operational access through a single banking interface.Asian Expansion and Tokenization PlansAccording to Podobnik, the bank intends to develop services that help clients move money into and out of stablecoins in later phases. Its plans also include tokenized deposits and support for issuing blockchain-based securities, such as digital bonds.The bank’s preparations in this area date back several years. In September 2023, Deutsche Bank partnered with Swiss digital asset infrastructure company Taurus on custody and tokenization services.At the time, Paul Maley, the bank’s head of securities services, said it aimed to provide institutional custody for selected cryptocurrencies and certain stablecoins. Tokenizing traditional securities was also among the partnership’s areas of focus.The latest announcement provides a more concrete launch timeline following those preparations. However, the bank has not given a firm start date ahead of the completion of regulatory processes.Deutsche Bank also notes that crypto assets carry risks including price volatility, cyber incidents and the failure of market participants. These assets are not covered by a deposit guarantee scheme comparable to the protection available for eligible bank deposits.
Charles Schwab has completed the phased retail rollout of Schwab Crypto, its service offering direct Bitcoin and Ethereum trading. CEO Rick Wurster announced during the company’s October 15 business update that clients can now access Schwab Crypto. The company, which has approximately 40.3 million active brokerage accounts, is also gradually introducing cryptocurrency transfers.The announcement follows a rollout that began in May and marks broader availability across the company’s retail client base. Eligibility requirements, application approval, and geographic restrictions still apply to crypto accounts.Bitcoin and Ethereum Trading Reaches Broader AvailabilitySchwab first announced details of its direct cryptocurrency trading service on April 16, 2026. The company said access would expand in phases over the following weeks; the retail rollout began in May.Wurster’s latest comments indicate that the service has reached a broader group of retail investors. According to the published meeting transcript, the CEO said all clients can now access Schwab Crypto.The service allows investors to buy and sell Bitcoin and Ethereum directly. Clients can monitor their cryptocurrency holdings through Schwab’s website, Schwab Mobile, and thinkorswim, trading on the same platforms they use for traditional investments.Schwab Crypto accounts support cryptocurrency transactions only. Exchange-traded products offering indirect crypto exposure and other traditional investment products remain available through the linked brokerage account.Cryptocurrency Transfers Are Rolling Out GraduallyThe expansion of trading access comes alongside support for cryptocurrency transfers. According to Schwab’s current guidance, eligible clients can send supported cryptocurrencies to external wallets or receive them after enrolling in the transfer service.Schwab is enabling the feature gradually across Schwab Crypto accounts. Clients receive an email when transfers become available for their accounts; access to trading therefore does not mean transfers are enabled at the same time.Charles Schwab Premier Bank and Paxos have separate responsibilities within the account structure. Schwab Premier Bank handles custody and recordkeeping for clients’ digital assets, while Paxos provides sub-custody and trade execution services.Clients use a separate Schwab Crypto account linked to their existing brokerage account. This structure allows them to view cryptocurrency alongside their traditional portfolio while keeping the accounts separate.Trading Fee Set at 0.75%Schwab charges a 0.75% fee on each cryptocurrency purchase and sale. The minimum fee is $0.01; at that rate, a $1,000 transaction carries a $7.50 fee.The platform supports market, limit, stop, and stop-limit orders. Investors can place orders based on cryptocurrency quantities or dollar amounts, while Schwab provides round-the-clock specialist support for its trading platforms and cryptocurrency transactions.Access requires an eligible brokerage account and residence in a supported U.S. jurisdiction. Residents of New York, Louisiana, and U.S. territories, along with international clients, remain outside the service’s current coverage.Crypto Expansion Across a Platform With 40.3 Million AccountsAccording to Schwab’s financial results released on October 15, active brokerage accounts reached approximately 40.3 million at the end of September. Total client assets stood at $13.33 trillion.These figures illustrate the scale of the financial platform offering the cryptocurrency service. However, the active brokerage account total does not represent the number of unique clients who have opened crypto accounts or traded Bitcoin and Ethereum.The company’s expansion plans include additional cryptocurrencies. On August 27, Schwab announced plans to add Solana (SOL), Avalanche (AVAX), and Chainlink (LINK) to the platform in the following months.Its current product page lists Bitcoin and Ethereum as available for trading. The planned additions of SOL, AVAX, and LINK should therefore be distinguished from assets already supported on the platform.
The US Producer Price Index (PPI) rose 1.3% in September from the previous month, exceeding expectations. Annual producer inflation reached 6.3%. The figures brought inflation pressures back into focus for Federal Reserve policy, with implications for Bitcoin and altcoins.The report, released on October 15, showed the largest monthly increase in producer prices since March 2022. Economists surveyed by The Wall Street Journal had expected a 0.6% rise. The monthly increase was therefore more than double that forecast.Weekly initial jobless claims, released the same day, came in at 199,000. While the labor market figure was close to expectations, producer inflation delivered the most significant surprise.US PPI Data Shows Persistent Inflation PressureAccording to the Bureau of Labor Statistics, prices for final demand goods rose 2.6%. Services prices increased 0.8% month over month. The breakdown showed that price pressures persisted across both goods and services.PPI measures changes in the prices producers receive for their goods and services. The report therefore offers early signals about corporate pricing trends. However, increases in producer prices do not always pass through to consumer prices immediately or at the same rate.Companies can absorb some cost increases depending on demand and competition. Businesses that pass higher prices on to their customers, meanwhile, can contribute to persistent consumer inflation.For the crypto market, the main connection runs through monetary policy. Persistent inflation can make it harder for the conditions needed for rate cuts to emerge. This creates an unfavorable scenario for investors expecting a rapid easing of liquidity conditions.The Fed’s Response Matters for BitcoinThe Fed uses the Personal Consumption Expenditures Price Index, or PCE, to track its inflation target. Some components of the PPI report also feed into that measure. As a result, the report’s underlying details can influence expectations for upcoming inflation releases.An extended period of high interest rates can make interest-bearing assets more attractive. It can also limit demand for riskier investments by keeping borrowing costs elevated.Bitcoin and altcoins are among the assets that can be affected by these conditions. Changes in interest rate expectations can amplify price swings, particularly when leveraged trading is heavy. However, this relationship does not guarantee that prices will move in the same direction after every inflation release.Expectations formed before the announcement also shape the market’s response. If investors have already priced in high inflation, a strong reading may trigger only a limited reaction. An unexpected deterioration, however, can have a more pronounced effect on risk appetite.At the time of writing, Bitcoin is trading lower, partly reflecting the impact of the previous day’s inflation data. Jobless Claims Deliver Little SurpriseThe number of Americans filing initial claims for unemployment benefits rose to 199,000. With the previous week’s figure revised to 198,000, the weekly increase was limited to 1,000. Reuters reported that claims remained consistent with a low level of layoffs.Low claims do not point to a sudden deterioration in the labor market. However, weekly applications are not a direct measure of total employment or new hiring.The Fed considers inflation and employment data together. The absence of a significant labor market slowdown may reduce the need for rapid rate cuts to support the economy. Combined with elevated inflation, this could strengthen the case for maintaining tight monetary policy.For the crypto market, upcoming PCE data, Fed communications and Treasury yields will be key to assessing the outlook. The dollar’s performance will also provide additional signals about global risk appetite.The September PPI report points to greater interest rate and liquidity risks for Bitcoin. How much those risks affect prices will depend on Fed expectations alongside fund flows specific to the crypto market.
Bitcoin recovered modestly to $81,200 after falling below $81,000 during early trading. Selling pressure following the latest U.S. inflation data weighed on both cryptocurrencies and Asian equities. Total crypto liquidations reached $951.4 million over the past 24 hours.Bitcoin traded at $80,764 early on Thursday, October 15, before recovering some of its losses. However, the move back above $81,000 was insufficient to erase the earlier decline. Ethereum and other major altcoins also suffered steep losses during morning trading. The sell-off centered on the implications of stronger-than-expected U.S. inflation for Federal Reserve policy. Losses that began on Wall Street continued into the Asian session as technology stocks fell. Investors’ retreat from risk spread across multiple asset classes.Bitcoin Recovers Above $81,000Bitcoin was down 3.6% over the previous 24 hours when it traded at $80,764 early in the session. The price later climbed to $81,200, recovering approximately 0.54% from that level. Despite the rebound, the world’s largest cryptocurrency remained under pressure.Bitcoin had fallen below $82,000 in the previous session following the U.S. inflation release. Further selling during Asian trading pushed it below $81,000. A subsequent modest recovery brought the price back above that threshold.Ethereum fell 6.5% to $2,353 during morning trading. Its daily decline exceeded Bitcoin’s by 2.9 percentage points over the same period. The gap showed that the second-largest cryptocurrency faced heavier selling pressure.Losses also spread across other major altcoins. Zcash dropped 12.8% to $1,101, while Solana fell 4.8% and XRP lost 4.7%. Zcash’s double-digit decline was the sharpest among these assets.Asian Equities Suffer Heavy LossesSouth Korea’s Kospi index slid 8% during Thursday’s morning session, leading regional losses. Shares in chipmakers Samsung Electronics and SK Hynix fell more than 9%. Japan’s Nikkei 225 also declined 5.2%.The regional sell-off followed overnight losses in U.S. markets. Stronger-than-expected core inflation fueled concerns about the Fed’s interest rate outlook. Weakness in technology stocks carried over into Asian morning trading.According to Zeus Research analyst Dominick John, the simultaneous declines in crypto and Asian equities reflected a broader retreat from risk. John said weakness in U.S. technology stocks had spread to both markets. The parallel declines therefore did not necessarily mean that one market directly triggered losses in the other.The analyst also pointed to annual U.S. inflation reaching 3.7%, exceeding expectations. In John’s assessment, the reading renewed concerns that interest rates would remain elevated for longer. Those expectations added pressure to risk assets.Long Liquidations Reach $876 MillionAccording to CoinGlass data, crypto liquidations totaled $951.4 million over the past 24 hours. Long positions, which traders open in anticipation of rising prices, accounted for $876.3 million. That represented approximately 92% of total liquidations.The breakdown showed that the decline disproportionately affected traders using leverage to bet on further gains. Liquidations outside long positions totaled approximately $75.1 million. Rapid price declines placed particular pressure on highly leveraged trades.Liquidation figures do not represent the total amount of money leaving the crypto market. They measure leveraged positions forcibly closed when collateral becomes insufficient to keep trades open. The $951.4 million total therefore highlights the sell-off’s impact on derivatives markets.Bitcoin’s recovery to $81,200 offered some relief compared with its early-morning level. However, altcoin losses, falling Asian equities and elevated liquidations illustrated the breadth of the selling pressure. U.S. inflation and expectations for Federal Reserve policy remained central to market pricing.
BlackRock’s crypto asset funds attracted $7.9 billion in net inflows during the third quarter of 2026. This more than offset the roughly $2.2 billion investors withdrew during the first six months of the year. Total digital assets under management rose 63% quarter over quarter to $79.6 billion.According to the company’s third-quarter results released on October 14, both investor inflows and rising crypto prices contributed to the recovery. Despite the strong quarterly performance, however, the funds’ assets remained below their level a year earlier.Inflows into BlackRock’s digital asset funds regain momentumBlackRock managed $48.8 billion in digital asset products at the end of June. That figure reached $79.6 billion by the end of September. The total increase over the three-month period amounted to $30.8 billion.Net new investor money accounted for $7.9 billion of that increase. The remaining $22.9 billion came from gains in the market value of the assets held by the funds.Calculations based on the reported figures show that price movements contributed approximately 74% of the quarterly increase. Net investor inflows accounted for around 26%.The 63% increase in assets under management therefore does not mean that new investment rose by the same percentage. This measure reflects both money entering and leaving the funds and changes in the market value of their existing portfolios.Declines in Bitcoin and other cryptocurrencies weighed on the value of funds holding those assets during the first half of the year. Recovering prices and stronger investor demand supported BlackRock’s digital asset products in the third quarter.Combining the roughly $2.2 billion in first-half outflows with third-quarter inflows brings net inflows for the first nine months to approximately $5.7 billion. This calculation shows that inflows into the company’s crypto products had more than offset the first-half withdrawals by the end of September.Year-over-year losses remainDespite the quarterly recovery, BlackRock’s digital assets under management remained 23% below the roughly $104 billion recorded a year earlier. The gap reflects the lingering impact of the earlier crypto market downturn.Over the past 12 months, investors added a net $6.3 billion to the company’s digital asset funds. During the same period, however, declines in market value erased $30.6 billion from assets under management.Investor withdrawals alone therefore cannot explain the year-over-year decline. While the funds continued to attract net inflows, losses in the value of their crypto holdings reduced their overall size.The difference between the quarterly and annual figures also highlights the importance of the comparison period. Assets grew sharply between June and September but remained well below their level in the same period last year.BlackRock’s figures show why fund demand and price performance need to be tracked separately. Positive net inflows indicate that investors continue to allocate money to these products, although those inflows cannot always offset falling crypto prices.Digital asset products generate $39 million in revenueBlackRock earned a total of $39 million in fees and securities lending revenue from its digital asset products during the third quarter. This revenue is separate from investor inflows and the total value of assets under management.The company also manages the iShares Bitcoin Trust (IBIT), its spot Bitcoin product. However, the earnings release did not provide separate figures for IBIT’s assets under management or net flows. The entire $7.9 billion in reported net inflows therefore cannot be attributed to IBIT or Bitcoin investments alone. The figures cover BlackRock’s digital asset products as a whole.The third-quarter results showed renewed investor demand alongside recovering prices. The year-over-year comparison, however, indicated that the company’s crypto funds had yet to return to their previous asset levels.
The crypto market is focused on September’s US inflation data, due today at 3:30 p.m. Türkiye time. With Bitcoin trading below $84,000 ahead of the release, investors will watch how four key indicators shape the Fed’s interest rate outlook. The US Bureau of Labor Statistics’ calendar confirms the October 14 release.Forecasts suggest headline inflation could accelerate while monthly core inflation slows. This divergence could trigger reversals in Bitcoin and altcoins after the initial price reaction.What Are the Expectations for US Inflation?A forecast table citing The Wall Street Journal and Nick Timiraos puts the median monthly CPI estimate at 0.58%. The annual inflation forecast stands at 3.6%.For core CPI, which excludes food and energy, the median monthly estimate is 0.22%. The same table puts annual core inflation expectations at 2.4%.IndicatorSeptember Forecast, Shared TableAugust, Table ValueMonthly CPI0.58%0.40%Annual CPI3.6%3.4%Monthly Core CPI0.22%0.29%Annual Core CPI2.4%2.4%Rounded to one decimal place, the monthly forecasts correspond to approximately 0.6% and 0.2%. However, a survey cited by MarketWatch puts annual core inflation expectations at 2.5%, highlighting a small difference between sources.Institutional forecasts in the table also split into two groups on annual core inflation. Bank of America and Goldman Sachs expect 2.5%, while JPMorgan, Deutsche Bank and UBS forecast 2.4%.Bitcoin Trades Below $84,000 Ahead of the ReleaseAt the time of writing, Bitcoin was trading at approximately $83,400. For Bitcoin, the extent to which the figures deviate from expectations matters. An increase in annual CPI from the previous month may not trigger a fresh selloff if markets already anticipate it.Similarly, slower monthly core inflation does not guarantee a rally. Investor positioning ahead of the release and the bond market’s response could influence the strength of the move.How Could Above-Forecast Inflation Affect Crypto?Core CPI exceeding forecasts could strengthen expectations that the Fed will maintain tight monetary policy. In that scenario, rising Treasury yields and a stronger dollar could weigh on demand for crypto assets.Alongside Bitcoin, Ethereum and less liquid altcoins could also face pressure. In markets with heavy leveraged positioning, liquidations could amplify the initial price move.Conversely, below-forecast core inflation could support expectations of easing interest rate pressure. A decline in the dollar and Treasury yields could create more favorable conditions for Bitcoin and altcoins.These scenarios outline the potential channels through which the data could affect markets. ETF demand, spot trading volume and crypto-specific developments could also influence prices.Core Figures Will Matter Beyond the Headline ReadingHigh headline CPI alongside low core CPI could send a mixed signal. Investors would then examine whether price increases remain concentrated in energy or extend more broadly into services.Expectations point to gasoline and food costs pushing headline inflation higher in September. Distinguishing energy-driven increases from broader price pressures will therefore matter when interpreting the report.After 3:30 p.m. Türkiye time, investors will watch whether movements in the dollar and Treasury yields accompany Bitcoin’s initial reaction. The subsequent US stock market opening could offer further clues about the persistence of risk appetite.If the four indicators point in different directions, the initial price move may not last. As the report’s details become clearer, investors could reassess their Fed expectations and crypto positions.
Binance has announced that it will close its Binance Pool mining platform and related services on November 10, 2026. The shutdown takes effect at 7:00 a.m. UTC and covers Binance Pool, Pool Savings, Cloud Mining, and Transaction Accelerator. The exchange asked users to redirect their mining equipment to other pools and close active savings positions before the deadline.According to Binance’s October 13 announcement, the decision forms part of its ongoing review of products and services. The notice provided no further details about the reasons for the closure. The schedule sets separate deadlines for ending mining operations and closing access to historical records.Binance Pool Will Stop Accruing New Rewards on November 10Binance will begin disconnecting mining connections to the pool at 7:00 a.m. UTC on November 10. The Stratum URLs and connection endpoints used by miners will also be disabled at that time.The pool will no longer accept hashrate submissions or mining shares after the cutoff. Users will earn no rewards for shares submitted after the shutdown. Mining shares are proofs of work that record the computing contribution a device makes to a pool.The closure extends beyond users who connect mining equipment to the platform. Cloud Mining, Pool Savings, and the Transaction Accelerator service will follow the same shutdown schedule.Telegram hashrate alerts, email notifications, and mining pool API services will also end. Binance will close access points to the affected products, which will stop generating new rewards, yield, or other service benefits.Eligible mining shares submitted before the deadline will still count toward the final reward calculation. Binance will calculate these rewards under its existing pool rules. The cutoff therefore also determines which contributions qualify for miners’ final reward period.Miners Must Redirect Their Equipment to Other PoolsBinance asked miners who want to avoid interruptions to change their equipment’s connection settings before the deadline. Users need to disconnect from Binance Pool and redirect their devices to another mining pool.The warning makes clear that keeping equipment running will not be enough to continue earning rewards. Devices that keep submitting work to old Binance Pool addresses after the cutoff will generate no new earnings through the service.Pool Savings users also need to review their active positions. The exchange asked them to unsubscribe from or redeem those positions before the service ends.Processing of remaining rewards, eligible balances, refunds, and other settlements will continue after the shutdown. However, these transactions will depend on the relevant product terms and each user’s account status.Binance said risk controls, compliance checks, and applicable laws will also govern payment processing. The announcement therefore does not guarantee simultaneous, unconditional payments to every user; eligibility will depend on the relevant product terms.Users must also ensure their accounts can receive any eligible rewards and refunds. Completing account requirements, including any necessary identity verification, will help facilitate the processing of remaining payments.Access to Historical Records Will End on November 24Binance will remove links to Binance Pool from its homepage on November 10. Pool pages will remain accessible for another 14 days so users can review historical information.During that period, users will be able to view historical mining data, account records, and payout status where available. Access to the pages will end permanently at 7:00 a.m. UTC on November 24, 2026.Users therefore need to track the deadline for saving their records as well as those for moving equipment and closing savings positions. They should download any reports and transaction history they may need for future account checks before access ends.The decision comes as Binance expands its product range into other areas. In September, the exchange announced plans to offer physically settled options on more than 1,000 U.S.-listed stocks and exchange-traded funds through Nest Trading.Binance also opened its AI-powered trading interface to English-language users globally on October 12. The mining shutdown represents another change to the company’s product portfolio; the announcement does not establish a direct causal link between its new offerings and the closure.
