Altcoins rally across the crypto market, with SAND leading the gains by surging over 62% in 24 hours.

According to market data from BIT (Bit.com), NVIDIA (NVDA.O) hit an intraday all-time high, rising 2.4%.

According to BIT (Bit.com) market data, crypto-related stocks rallied collectively after the US stock market opened, with most optical module stocks rising, storage stocks seeing mixed performance, and Nvidia hitting an all-time high. Details are as follows: Crypto sector: Strategy (MSTR) traded at $169.410, up 5.55%; Circle (CRCL) at $87.150, up 5.11%; Bullish (BLSH) at $36.810, up 5.81%; Gemini Space Station (GEMI) at $5.300, up 4.54%; Bitmine Immersion (BMNR) at $28.085, up 5.07%; SharpLink (SBET) at $10.120, up 5.64%. Optical module sector: Seagate Technology (STX) at $806.035, down 14.76%; Marvell Technology (MRVL) at $279.050, up 4.09%; Nokia (NOK) at $10.455, up 0.82%; Applied Optoelectronics (AAOI) at $107.800, up 0.45%; Lumentum (LITE) at $1053.125, up 0.70%; Coherent (COHR) at $320.790, up 0.50%. Storage sector: Micron Technology (MU) at $1094.340, down 0.28%; SanDisk (SNDK) at $1732.670, down 3.08%; Western Digital (WDC) at $416.820, down 9.89%.

Bankless founder David Hoffman said in a post that a daily closing price of Bitcoin (BTC) above $86,600 would send a strong bullish signal, while a daily close above $87,400 would make him extremely bullish.

Bitcoin ecosystem firm Matador Technologies released a corporate update on October 2, noting it currently holds roughly 168 BTC and funds its Bitcoin treasury via common stock and secured convertible bonds. The announcement states Matador has issued senior secured convertible bonds with a total principal of $10.5 million under its $100 million secured convertible bond facility, with the remaining $89.5 million eligible for drawdown in tranches once regulatory approvals and other conditions are met. Separately, the company’s current average monthly cash operating expenditure stands at approximately CAD 125,000, and it plans to further cut this to around CAD 100,000 per month. Shareholders will vote on the creation of a new class of preferred shares on October 14.

According to market data from BIT (Bit.com), at the opening of U.S. stock markets, the Dow Jones Industrial Average rose 0.62%, the S&P 500 gained 0.9%, and the Nasdaq increased 1.2%. Storage chip stocks showed mixed performance: Seagate Technology (STX.O) fell 14%, Western Digital (WDC.O) dropped 9.8%, and Rambus (RMBS.O) rose 3%. Tesla (TSLA.O) climbed 2.3% as its third-quarter delivery figures exceeded expectations.

Annex Wealth Management chief economic strategist Brian Jacobsen noted that the U.S. labor market is not as strong as initially thought. July’s jobs data was revised to show negative growth; August saw a solid rebound, but that momentum abruptly halted in September, with only 29,000 jobs added. The employment diffusion index fell back below 50. Fed Chair Waller had previously expressed concern about the breadth of inflation, but now he will have to consider the lack of breadth in the labor market. This data supports a pause in interest rate hikes in October. (Jinshi)