$1.24 billion of stablecoins were redeemed on 28 October, the day the Fed held rates. Stablecoins are the cash that sits in crypto waiting to buy, so that is buying power leaving the market. On Thursday at 12:27 UTC Bitcoin was at $80,088, down 0.87% on the day, and every one of the ten biggest coins was down.
That is the story of the fourth episode of our weekly video briefing. Every number in it was captured live from our own dashboard on 29 October 2026, between 12:25 and 12:40 UTC. Selene and Sam are AI anchors with AI voices. The data is real, and you can open every screen in the episode yourself.
The Fed held, and the bounce did not last
The Fed and rates was the #1 narrative on our Trending board, from 22 sources and 31 articles, with a bearish mood. The alert behind it: Bitcoin dipped to $80,000 as a hawkish Fed and mixed tech earnings weighed (Investing.com). Our Overview tab shows what happened around the decision: two hours after it, Bitcoin was up 0.55%. By Thursday that was gone, and our composite score sat at 43 out of 100, mildly bearish.
Big money was split
The Whales & ETFs tab read "Big money is split". Whales sold a net $95 million in 24 hours, and fund and desk wallets sold $98.5 million, the most of anyone. On the other side, spot ETFs took in a net $110 million on Wednesday 28 October. Net, $215 million of coins moved onto exchanges in a day. That can be selling ahead, or traders moving collateral; either way, those coins are closer to a sale.
The crowd was long, on borrowed money
The On-Chain composite read bearish at 40 out of 100, down 15.2 points since the day before. 67.1% of traders were long, and only 13% of the 24-hour volume across the ten majors was cash; 87% was borrowed. That is a fragile setup: $233.1 million was liquidated in 24 hours, 60% of it longs.
The stablecoin cash pile shrank again
The Supply composite read strongly bearish at 0 out of 100, down 11 points since the day before, because $1.24 billion of stablecoins were redeemed on 28 October. Total stablecoin cash stood at $302.0 billion. Fewer stablecoins means less money on hand waiting to buy.
IDOL and EVAA, flagged early, with warnings
The Early signals tab looks for coins moving before the market notices. The strongest on the radar was IDOL, on BNB Chain: wallets were trading it at 6.4 times its usual pace, it was up 67.1% on the day, and none of our news sources had named it yet. The safety check found no flags, but the whole pool turned over 23.79 times in 24 hours: fast money, not accumulation. EVAA was also on the radar at 2.5 times its usual pace, with three things to know; the first is that its contract can mint new supply.
The rest of the board
- Movers: HYPE led the gainers, up 8%, even with a headline about a whale selling $53 million of it. Dash and Bitcoin Cash led the losers, both down 6%.
- Top story of the last hour: the US Treasury put sanctions on 11 targets tied to a North Korean IT worker scheme that moved millions in crypto (Decrypt).
- Around the world: on the Global tab's 3D globe, the United States had the most stories, 207, at -1.6%. A breaking headline from the UK: Nigel Farage proposes a 10% capital gains tax on crypto. The UK read -8.4%, and South Korea was the most bearish region on the board at -26.4%.
Chapters
- 0:00 $1.24B of stablecoins redeemed
- 0:11 Crypto World News
- 0:23 Top story: the Fed and rates
- 0:44 Bitcoin at $80,088
- 1:07 Who is selling? Whales and ETFs
- 1:36 The crowd and the stablecoins
- 2:11 Movers and headlines
- 2:34 Around the world: our 3D globe
- 3:03 Early signals: IDOL and EVAA
Data, not predictions. Nothing here is financial advice.
Every screen in this episode is a live tab in the dashboard, from the stablecoin supply on the Supply tab to the Early signals radar that flagged IDOL. Start a free 7-day trial, nothing to pay.
Related reading
- Episode 3: $527M Into Bitcoin ETFs, Then the Shorts Got Squeezed. Last week's episode.
- What whale movements actually tell you (and what they don't). How to read the Whales tab without overreacting to one transfer.