Summary

1. Crypto industry:

 • Bitcoin correlation with gold hits 40-day high as battle for safe haven asset intensifies;
 • Invesco Strategist Warns the Fed Is 'Playing a Dangerous Game' That Could Lead to 'Significant         Recession'; 
 • Coinbase CEO Brian Armstrong Says Decentralized Finance Should Be Protected From                       Regulatory Overreach;

2. Price Action:

 • Bitcoin rose 1.9% in the past 24 hours to trade at US$19,576 as of 8:30 a.m. in Hong Kong, while       Ether gained 4.3% to trade at US$1,368, according to data from CoinMarketCap. Solana also               posted strong gains, rising 4.6% to trade at US$29.33, while Cardano was up 2.7% to change             hands at US$0.36;

3. US Dollar Related:

 • The dollar was under pressure on Friday, with some officials expressing greater concerns about           sharply raising interest rates to fight inflation. Gold posted a weekly gain as hopes of stronger               demand and a weaker dollar outweighed concerns about a global economic slowdown;

4. Economic Calendar:

 • 21:45 U.S. announced the initial value of the Markit Manufacturing/Services PMI for October;  

 • Next day 01:00 the British Conservative Party announced the list of candidates for party leadership.

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