🇺🇸 US STOCKS & CRYPTO MARKET REPORT Thursday 29th October , 2026

🌐 DELTANODE DAILY MARKET REPORT 📅 October 29, 2026

📊 Market Overview | Fed Holds, Bitcoin Slips Below $80K

The Federal Reserve held interest rates at 3.75%–4.00% in a 10–2 vote, with both dissenters favouring a 25-basis-point hike. Chair Kevin Warsh stressed that inflation remains too high and refused to commit to a December decision.

Fear & Greed has edged up to 44 (Neutral), but Bitcoin failed to sustain its brief move above $81,000 following the Fed announcement. BTC is now around $80,200, with reports showing a dip to $79,848 earlier today.

Despite continued inflows into US spot Bitcoin ETFs, rising rate expectations and uncertainty around inflation are keeping risk appetite under pressure.

Today's focus is on the Fed's preferred inflation gauge, corporate earnings, institutional crypto infrastructure, and emerging AI trading regulations.

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🪙 1. BITCOIN & CRYPTO MARKET UPDATE

📉 Bitcoin (BTC): $80,200 📉 24H Change: Approximately -1.45% 📉 Ethereum (ETH): $2,322 (-1.60%) 🌐 Total Crypto Market Cap: $2.68 trillion (-1.35%) 💵 24H Trading Volume: $71.86 billion (+18.75%) ₿ BTC Dominance: 60.04% 😐 Fear & Greed Index: 44 (Neutral) 🔄 Altcoin Season Index: 55/100

📍 BTC Technical Levels to Watch

🔴 Resistance 1: $81,000–$81,500 🔴 Resistance 2: $82,000–$82,500 🔴 Major Resistance: $83,500–$84,000

🟢 Support 1: $79,800–$80,000 🟢 Support 2: $78,500–$79,000 🟢 Major Support: $77,000–$78,000

Market Structure: BTC briefly crossed $81K after the Fed announcement but failed to hold the breakout. The $79.8K–$80K area is the immediate support zone to watch.

A sustained recovery above $81.5K could bring $82K–$82.5K back into focus. A decisive breakdown below $79.8K could expose $78.5K–$79K, followed by the $77K–$78K region.

These are working price zones, not confirmed support or resistance levels. Price acceptance, volume, and derivatives positioning will matter more than a brief move through any level.

ETF Flows: US spot Bitcoin ETFs recorded approximately $137 million in net inflows yesterday, marking three consecutive sessions of inflows worth roughly $424 million combined. October's net inflows reached approximately $111 million.

However, spot ETH ETFs saw around $21 million in outflows.

Key Takeaway: Institutional Bitcoin demand remains constructive, but ETF inflows have not yet translated into a sustained price breakout. BTC dominance near 60% also suggests that broad altcoin strength remains unconfirmed.

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🏦 2. FED HOLDS RATES AS TWO OFFICIALS CALL FOR A HIKE

The Federal Reserve maintained its policy rate at 3.75%–4.00%, with Governor Lisa Cook and Cleveland Fed President Beth Hammack dissenting in favour of a 25-basis-point increase.

The statement softened its previous language on the urgency of returning inflation to 2%, while upgrading its description of economic growth from “solid” to “strong.”

Chair Kevin Warsh said inflation remains too high and declined to provide firm guidance on December policy.

📌 What markets are watching: • December rate-hike expectations remain elevated, with reports placing the probability above 81%. • US 2-year Treasury yields were near 4.70%. • US 10-year Treasury yields were around 5.00%, after touching approximately 5.04%. • The S&P 500 closed up 0.3%.

Today's Macro Catalyst: PCE Inflation

September PCE inflation, the Fed's preferred inflation gauge, is due at 8:30 AM ET / 12:30 PM UK.

Core PCE is expected at 3.1% year over year, with Q3 GDP also scheduled.

🔎 DeltaNode Insight: A hotter-than-expected core PCE reading could reinforce expectations for tighter policy and pressure BTC and equities. A softer reading could ease rate concerns, although one report alone will not determine December's decision.

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🏛️ 3. DTCC LAUNCHES TOKENIZATION SERVICE FOR SECURITIES

The Depository Trust Company has launched a securities tokenization service, with 20 firms participating, including JPMorgan, Citi, Bank of America and Morgan Stanley.

DTCC holds more than $114 trillion in assets. Its tokenized securities are designed to retain the same ownership rights as their underlying traditional securities.

The service operates on Canton and DTCC's private Besu network.

📌 Why it matters: • Major financial institutions are moving tokenization into traditional market infrastructure. • Blockchain-based securities could improve settlement efficiency and asset transfer. • Legal ownership, custody, compliance and interoperability remain critical considerations.

DeltaNode Insight: Institutional tokenization is a long-term infrastructure development rather than an immediate bullish catalyst for BTC. Its significance lies in the gradual integration of blockchain technology with traditional finance.

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🛡️ 4. OSMOSIS RESTORES ALLOYED BTC BACKING

Osmosis announced that its Alloyed BTC product is fully backed again after an exploit left backing at 63.97%.

Following a governance-approved upgrade, the protocol seized 22.65 frozen BTC from an exploiter's address. A further 17.19 BTC from the community pool was used to remove 39.84 counterfeit nBTC.

Osmosis stated that BTC holders would not bear any portion of the loss.

📌 Why it matters: The incident highlights both the risks of cross-chain and synthetic Bitcoin products and the ability of governance mechanisms to intervene during a crisis.

The key question is whether the exploit was detected and disclosed promptly enough to protect users.

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📈 5. BITWISE RAISES ITS LONG-TERM BITCOIN TARGET

Bitwise raised its 10-year Bitcoin price forecast to $1.6 million by 2036, compared with its previous projection of $1.3 million by 2035.

The new forecast implies a compound annual growth rate of approximately 34.3%, starting from a reference price of $83,557.

Bitwise expects Bitcoin's traditional four-year cycle to become less influential over time.

⚠️ Risks highlighted: Quantum computing, advances in AI-driven mathematical techniques, and changes in Bitcoin's market structure.

DeltaNode Insight: Long-term forecasts are scenarios, not price guarantees. The projection does not remove the possibility of substantial drawdowns, liquidity shocks or prolonged periods of weak performance.

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🔄 6. KRAKEN TO REPLACE 176 TRADING PAIRS

Kraken is replacing 176 native trading pairs with synthetic pairs.

• Open orders remaining on affected pairs after November 6 at 14:00 UTC will be cancelled. • Existing balances will not be affected. • The underlying assets will remain on the exchange. • Replacement synthetic pairs are expected to be listed by the end of November 9.

📌 Trader Action: Users trading affected pairs should review open orders and confirm the replacement markets before the deadline. Synthetic pairs may have different order-book and execution characteristics.

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🤖 7. CFTC CHAIR RAISES QUESTIONS ABOUT AI TRADING AGENTS

CFTC Chairman Michael Selig has raised the possibility of new rules for AI-powered trading agents.

His questions include whether developers should face registration requirements, who should be held liable if an AI agent acts unpredictably, and whether a “know-your-agent” framework could be introduced.

He also warned that similar AI models could generate correlated trades, potentially amplifying market movements.

These comments represent Selig's views and are not necessarily the official position of the Commission.

📌 Why it matters: AI agents could make markets more efficient, but widespread use of similar models could also increase crowded positioning, correlated liquidations and sudden volatility.

For automated trading systems, risk limits, execution controls and human oversight remain essential.

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🇺🇸 8. US TECH EARNINGS: ALPHABET FALLS, MICROSOFT RISES

Two major technology companies delivered sharply different market reactions.

🔴 Alphabet (Google)

• Revenue rose 25% to $127.58 billion, below expectations of $128.22 billion. • Google Cloud revenue surged 103% to $30.71 billion. • Search revenue grew 12% to $63.35 billion, down from 17% growth in Q2. • Capital expenditure reached $51.36 billion. • Free cash flow was negative $9.07 billion. • Shares fell approximately 10% in premarket trading.

🟢 Microsoft

• Revenue rose 19% to $92.28 billion. • Adjusted earnings reached $4.89 per share. • Azure growth accelerated to 48%, from 43% in the previous quarter. • Microsoft guided to Azure growth of 49%–50% in constant currency. • Capital expenditure, including finance leases, was $45.2 billion. • Shares rose approximately 3.6% before the open.

📌 The difference: Both companies are investing heavily in AI infrastructure. Microsoft's accelerating Azure growth impressed investors, while Alphabet's slowing Search growth and heavy spending raised concerns about returns on AI investment.

Next Catalyst: Amazon reports after the US close, with AWS growth expected in the mid-to-high 30% range. Investors will focus on cloud growth, capital expenditure and whether AI demand is translating into sustainable earnings.

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🇬🇧 9. UK BUDGET: BANKS BENEFIT, HOUSEBUILDERS SLIDE

The UK Budget announced additional tax measures expected to raise approximately £4.3 billion annually by 2029–30.

Key developments: • The bank surcharge will increase from 3% to 6% for 15 months from January 2027. • Tax rates on savings interest and property income will rise by two percentage points from April 2027, on top of previously announced increases. • The £20,000 annual cash ISA allowance will remain unchanged. • The OBR lowered its 2027 growth forecast to 1.0%, from 1.6%. • Borrowing this year is forecast at approximately £133 billion. • The government's fiscal buffer fell to £14.5 billion.

Market reaction: • NatWest gained 2.0%, Lloyds 1.7% and Barclays 1.6% following relief over the bank surcharge. • Taylor Wimpey fell 7.3%, Persimmon 6.9% and Barratt Redrow 6.6%. • The 10-year gilt yield closed around 5.33%, below its early-October high of 5.53%. • Sterling ended near $1.33.

Other measures include a £4.7 billion first-home equity-loan scheme, an extension of the 5p fuel-duty cut to July 2027, and a £100 energy payment for eligible households in England.

Capital gains tax rates, dividend tax and the 25% tax-free pension lump sum remain unchanged. The state pension is scheduled to rise to £250.70 per week in April 2027.

DeltaNode Insight: The Budget provided some relief to banks but left growth and borrowing concerns unresolved. Higher savings taxes could also change incentives around cash holdings and tax-efficient savings accounts.

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🇰🇷 10. SAMSUNG RECORDS 107.4 TRILLION WON IN OPERATING PROFIT

Samsung Electronics reported record quarterly operating profit of 107.4 trillion won and record revenue of 195.3 trillion won.

The chip division generated 106.5 trillion won in operating profit on sales of 147.1 trillion won. Revenue from its latest HBM4 AI memory chips more than tripled quarter over quarter.

However, Samsung shares fell 4.13% to 232,000 won as investors sought more clarity on its shareholder-return programme.

The company announced a dividend of 4,601 won per share, totalling approximately 30 trillion won. Its 2026 shareholder-return plan is worth 90–110 trillion won, including a substantial buyback programme whose precise size will be decided in late January 2027.

Meanwhile, SK Hynix shares rose 2.62% to approximately 1.5 million won.

DeltaNode Insight: AI memory demand remains strong, but record profits alone may not support further share-price gains when expectations are elevated. The next focus is the clarity and scale of Samsung's buyback.

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🛡️ 11. FORTINET WARNING TRIGGERS CYBERSECURITY SELLOFF

Fortinet beat expectations for earnings and revenue but its shares fell approximately 26% after hours.

• Adjusted EPS: $0.91 versus $0.86 expected. • Revenue: $2.08 billion, up 20%. • Growth slowed from 26% in Q2. • Full-year service-revenue guidance was reduced to $5.15–$5.17 billion.

The weakness spread across cybersecurity stocks, with Palo Alto Networks, CrowdStrike and Zscaler each falling approximately 6%–7% after hours. Tenable also declined more than 5%.

ServiceNow added to the pressure after its quarterly revenue outlook came in below expectations. Its shares fell sharply in after-hours trading.

DeltaNode Insight: Investors are questioning whether software and cybersecurity spending can sustain the growth rates already priced into valuations. The upcoming results from Palo Alto Networks and CrowdStrike will help determine whether the selloff is company-specific or sector-wide.

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🛢️ 12. SHELL BOOSTS BUYBACK AFTER STRONG PROFITS

Shell reported third-quarter profit of $10.81 billion, above expectations of $10.33 billion, and raised its quarterly share buyback to $5 billion from $3 billion.

Refining margins reached $42 per barrel, compared with $11.60 a year earlier. Shell shares rose approximately 3%.

Elsewhere, Haleon fell 13.3% after cutting its organic-growth forecast to around 2.5%, from a previous range of 3%–5%.

Oil Market: Brent crude eased 0.7% to approximately $114.50 per barrel amid reports of renewed US-Iran diplomatic efforts. Geopolitical developments remain a major risk for oil prices, inflation expectations and global risk assets.

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🤝 13. MARVELL REPORTEDLY IN TALKS TO ACQUIRE LUMENTUM

Marvell Technology is reportedly in advanced talks to acquire optical-networking company Lumentum, valued at approximately $83 billion.

No deal price has been announced, and neither company commented.

Lumentum shares rose around 9% after hours, while Marvell fell more than 8%. A transaction of this size could require substantial financing, given Marvell's reported cash balance of approximately $3.92 billion.

Why it matters: AI data centres require increasingly advanced optical networking infrastructure. A major acquisition could reshape competition in the AI connectivity supply chain, but financing and deal execution are significant uncertainties.

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🇮🇱 14. ISRAEL'S POLITICAL BALANCE REMAINS UNCERTAIN

With 89.8% of votes counted, Benjamin Netanyahu's bloc held 53 seats, compared with 48 for Gadi Eisenkot's bloc. Arab-led parties held 19 seats.

Neither main bloc had reached the 61 seats required to govern. Additional ballots, including military votes, were still being counted, with official results expected on November 4.

Political uncertainty remains relevant to regional security, diplomatic negotiations and oil-market risk premiums.

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📅 15. KEY EVENTS & CATALYSTS

🇺🇸 Today, October 29 • US September PCE inflation and core PCE. • US Q3 GDP. • Amazon earnings after the US close. • Coinbase and Strategy earnings after the US close. • Continued market reaction to the Fed decision and major technology earnings.

🗓️ Coming Up • November 5: Bank of England policy decision. • November 6, 14:00 UTC: Kraken's open-order cancellation deadline for affected trading pairs. • November 9: Expected completion of Kraken's replacement synthetic-pair listings. • December 9: Next Fed meeting referenced in current rate expectations.

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🧠 DELTANODE FINAL TAKEAWAY

The market is dealing with three competing forces:

1️⃣ Monetary policy: A divided Fed, persistent inflation and elevated December hike expectations continue to constrain risk appetite.

2️⃣ Institutional infrastructure: DTCC's tokenization service, Osmosis's backing recovery and sustained Bitcoin ETF inflows show continued development beneath the surface of a weak crypto market.

3️⃣ AI investment returns: Microsoft and Alphabet demonstrate that heavy AI spending is no longer enough on its own. Investors want measurable growth and stronger returns on capital.

BTC Trading Framework: • Above $81.5K: Watch for a sustained recovery toward $82K–$82.5K. • Between $79.8K and $81.5K: Price remains in a key decision zone. • Below $79.8K: Watch $78.5K–$79K, then $77K–$78K.

These levels are conditional scenarios, not trade signals. PCE, Treasury yields, spot demand, derivatives positioning and confirmation on the chart should determine whether a breakout or breakdown is credible.

⚠️ Risk Management: Elevated event risk can produce sharp moves in both directions. Avoid treating ETF inflows or a single Fed headline as confirmation of a sustained trend.

DeltaNode | Research the structure. Verify the data. Manage the risk.

Not financial advice. Market prices and reported figures are time-sensitive and may vary by source.