Toscale: Crypto Sweeps $80K, Starknet Vote & Rate Decisions (12h)

Markets are digesting a sharp Bitcoin sweep to $80K that triggered rapid bid refilling near ETF cost bases, while regulatory pressure mounts for uniform US standards. Toscale tracks these structural shifts as investors weigh macro rate decisions against sector-specific catalysts like Starknet’s governance vote.

Bitcoin’s dip to roughly $80K on Oct 15 found immediate support just below the average cost basis of U.S. spot ETF holders, according to Glassnode’s on-chain data. Overhead supply remains clustered near $85K–$87.5K, creating a defined resistance zone for the next leg up. Meanwhile, XRP rebounded to $1.38 on a short squeeze, adding $4.1B in market cap despite persistent ETF outflows and weak XRPL payment volume.

Regulatory clarity remains a key theme as CFTC Chair Mike Selig calls for uniform US crypto regulations to replace disparate state frameworks like New York’s BitLicense. In governance news, Extended is moving settlement from Starknet to Circle’s Arc on Oct 22, coinciding with Starknet Opens Seven-Day Vote on Exploring a Post-Quantum Layer-1 Exit. On the security front, Qubic restarted its chain after a $1.3M drain, while Trump cited $20B in cybercrime losses for 2025.

Calendar — past:

NZ CPI (YoY) came in at 3.7% vs 3.8% forecast, down from 4.1%. NZ Consumer Price Index (QoQ) printed 0.7% vs 0.8% forecast, down from 1.5%.

Calendar — ahead:

BoK Interest Rate Decision at 01:00 UTC, forecast 3% vs prev 3%. Toobit to delist P from Toobit Spot at 08:00 UTC. CBRT Interest Rate Decision at 11:00 UTC, forecast 36% vs prev 37%.

Market read: Near-term crypto risk hinges on Bitcoin’s ability to hold above the $80K sweep low and clear the $85K overhead supply cluster. Macro volatility will spike around the BoK and CBRT rate decisions, with any deviation from forecasts potentially triggering broad liquidity shifts. The Starknet governance vote introduces idiosyncratic risk for STRK holders as settlement migration to Arc approaches. Traders should monitor XRP’s rebound sustainability against persistent ETF outflow pressures.