Crypto markets between technical vulnerabilities and regulatory tightening

Bitcoin

€71,995

-0.78% over 24h

Ethereum

€2,085

-1.17% over 24h

EUR/USD rate

1.115

In this edition · 6

Editorial

This October 29, 2026 opens on a crypto market supported by a slightly clearer, but still fragile, monetary environment. The U.S. Federal Reserve has just left its policy rates unchanged, while the European Central Bank issues its decision today, at the same time as the first estimates of US third‑quarter GDP and PCE inflation. These macro milestones will weigh on risk appetite, while bitcoin remains close to 80 000 $ (approximately 72 950 €) and the total market capitalization of crypto‑assets is around 2 690 Mds $ (approximately 2 412 Mds €). At the same time, the ecosystem continues to manage idiosyncratic risks: a new series of vulnerabilities in Bitcoin Core highlights the dependence on a complex software base, while security incidents affect both decentralized finance and centralized service providers. On the regulatory front, Europe is refining MiCA and tightening the framework for stablecoins, while in the United States the failure of the Clarity Act refocuses the debate toward sectoral regulators. Today's edition aims to untangle these intertwined dynamics between market, technology, security and law.

Markets

Bitcoin holds above 70,000 € after the Fed, despite mixed ETF flows

Around 72,950 € (81,340.4 $) on October 29, 2026, bitcoin confirms its resilience after the Fed's latest communication, against a backdrop of uneven flows into U.S. spot ETFs. Institutional demand remains present but more selective, in a market largely dominated by BTC.

On October 29, 2026 around 00:00 UTC, KuCoin shows bitcoin around 72,950 € (81,340.4 $), up 0.53% over 24 hours. Ether is following more timidly, at about 2,115 € (2,359.53 $), rising 0.39%. This setup extends the rebound observed the previous day between 72,650 and 73,150 € (81,000–81,560 $), according to a Swil-News digest, confirming that the 70,000 € threshold remains for now defended by the market.

Across the market, Basis Desk estimates crypto market capitalization at 2.41 T€ (2.69 T$) at the close on October 28, with a Bitcoin dominance of 60.2%. This overweight highlights BTC's central role in the current cycle, even as the Fed maintains a cautious tone on rates. The more moderate recovery of ETH around 2,110–2,125 € (2,350–2,370 $) reflects a more selective risk appetite, to the benefit of assets considered more established.

On the U.S. spot bitcoin ETF side, CoinPulseHQ's tracking shows mixed net flows in October. After notable outflows on October 22 and 23 (amounts not specified), funds recorded several positive sessions, including about 158 M€ (176.0 M$) of net inflows on October 27 and 99 M€ (110.3 M$) on October 26. These figures reveal institutional demand still present, but more reactive to macroeconomic signals and short-term price movements.

Asset Market News, based on Decrypt data, recalls that spot bitcoin ETFs had already attracted nearly 120.6 M€ (134.4 M$) at the start of "Uptober", after a particularly strong September with about 2.38 B€ (2.65 B$) of inflows, their second-best total since October 2025. This dynamic, combined with BTC stable above 70,000 €, suggests a market in an advanced consolidation phase, but not immune to rapid reversals if macro or regulatory conditions were to tighten.

Sources

Macro

Fed, ECB and US data: a decisive macro test for crypto volatility

Fed monetary status quo, crucial meetings with US GDP, PCE inflation and the ECB: the October 29, 2026 session concentrates several catalysts for risk assets, including bitcoin and altcoins. In this context, flows diverge between bitcoin and Ethereum investment products, a sign of more selective institutional positioning.

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Security

New vulnerabilities in Bitcoin Core: node resilience and bug disclosure put to the test

Three vulnerabilities fixed in Bitcoin Core serve as a reminder that node security remains a systemic issue, even without a direct threat to funds. The episode also accelerates adjustments to bug disclosure policy in the era of AI prompts.

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Security

DeFi and CeFi under Pressure: the Security Incidents that Marked October before Month-End

As markets remain volatile, a series of incidents in October reminds us that the major risk does not come only from prices but also from technical flaws and the subcontracting chain. From DeFi on Avalanche to centralized exchanges, an overview of the main documented events before the end of the month.

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Regulation

MiCA under pressure: ESMA forces the removal of non-compliant stablecoins before 8 January 2027

The European Securities and Markets Authority is requiring EU crypto platforms to cease any new activity involving stablecoins that do not comply with MiCA and to remove them from their books by early January 2027. Tether (USDT) is explicitly targeted, with potentially major impacts on liquidity and service availability in Europe.

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Adoption

After the Failure of the Clarity Act, U.S. Crypto Regulation Reconfigures Around the SEC and the CFTC

The rejection of the Digital Asset Market Clarity Act in the Senate on September 15, 2026 leaves the field open to federal regulators. The SEC and the CFTC are now redefining, through rulemaking, U.S. institutional investors’ access to crypto‑assets, with expected ripple effects worldwide.

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Coming up

29/10/2026 – Monetary policy decision by the European Central Bank, simultaneous release of the advance estimate of US Q3 2026 GDP, September PCE inflation data and weekly jobless claims, key elements for overall risk appetite, including for crypto‑assets. (SforNews Daily Digest October 28–29, 2026)
29/10/2026 – Expected adjustment of Bitcoin mining difficulty around this date, after several days when difficulty was indicated at 140,58 billions with a next anticipated adjustment on October 29, 2026, which alters the production cost of BTC and miners' profitability.
08/01/2027 – Deadline set by ESMA for EU crypto platforms to cease services related to stablecoins that do not comply with MiCA and to have wound down existing balances, which requires European actors to revise their stablecoin offerings over the next three months.
From 2027 – Progressive implementation of Implementing Regulation (UE) 2025/2263 on the automatic exchange of information relating to crypto‑assets between Member States, which obliges European platforms and custodians to adapt their tax reporting and data systems.