Market Close · after the US bell
Market Close — Mon, Oct 26, 2026
Anthropic IPO lights the AI trade · BTC sub-80K · chips rip, crypto stocks bleed
Tape as of 3:21pm CT · Hyperliquid perps & HIP-3 · 24h · Coinglass · Farside
📣The slate
- Anthropic said IPO. Nasdaq said thank you.
- Chips ripped. Crypto stocks got left at the door.
- BTC lost 80K on a green stock day. Embarrassing.
- Anthropic perp sold the news. Classic.
- Zcash and HYPE green again. Relative strength won't quit.
- Memes flat. Useless leading the way down.
- Everybody is flat into Fed Wednesday.
📉The tape
Stocks went up, crypto went down. S&P green, Nasdaq green, chips +3%, and BTC still slid back under 80K during US hours. ETH and SOL bled harder. HYPE and ZEC the only majors green.
| Perp | Price | 24h | OI | Funding/8h |
|---|
| BTC | 79,868 | −0.80% | $3.39B | 0.0100% |
| ETH | 2,313 | −1.55% | $2.59B | 0.0057% |
| SOL | 100.27 | −1.37% | $557M | 0.0100% |
| HYPE | 77.85 | +1.06% | $1.61B | 0.0100% |
| ZEC | 1,223 | +0.53% | $597M | 0.0100% |
Liquidations (24h): $206M total, $141M longs (68%). BTC $37M longs / $19M shorts, ETH $35M / $13M, SOL $5.4M / $1.4M. ZEC and HYPE: more shorts rekt than longs. Last 12h split dead even at $92M; last hour $1.8M. Nothing left to flush.
Mood: bored and bleeding. Funding pinned at neutral on every major, ETH funding under it. Nobody wants to be levered into Powell.
🏦Macro
Oil still running the show, the Fed gets its turn Wednesday. WTI $101.45 (−1.1%), Brent $110.30: the Iran war is on, so "down a dollar" is the good news. Gold holds $4,016, silver $53.92, copper $6.55 (+0.7%). Yields drifted lower into FOMC and the equity market took that plus an AI catalyst and ran. The Fed decides at 2pm ET Wednesday with $100 crude feeding straight into the inflation prints; anybody pricing a dovish surprise has not looked at a gas station.
📈Stocks
Cash close: S&P 500 7,676.77 (+0.7%) · Nasdaq Comp 26,169.38 (+0.82%) · Dow 52,361.58 (+0.28%). SOXX nearly +3%. Back-to-back losing weeks, and Monday shrugged them off.
| Group | Name | Price | 24h |
|---|
| Index | S&P (xyz) | 7,675 | +0.4% |
| Nasdaq-100 (xyz) | 29,313 | +0.9% |
| Nikkei | 62,695 | +0.4% |
| Korea EWY | 153.05 | +0.3% |
| Semis/AI | NVDA | 216.31 | +1.9% |
| AVGO | 332.32 | +2.8% |
| SKHX | 986.12 | +2.1% |
| MU | 906.33 | +1.4% |
| INTC | 90.86 | +4.0% |
| ARM | 223.79 | +5.8% |
| MSFT | 532.61 | +1.9% |
| TSLA | 391.06 | +4.8% |
| META | 630.78 | −1.9% |
| GOOGL | 317.36 | −1.2% |
| NBIS | 153.71 | −4.0% |
| Defense | PLTR | 198.69 | +1.0% |
| Crypto/cons. | CRCL | 79.85 | −6.5% |
| MSTR | 139.53 | −3.8% |
| COIN | 159.50 | −3.2% |
| HOOD | 92.87 | −3.0% |
| SPCX | 147.54 | −1.1% |
- Chips: everything green, SOXL +6.3%. The Anthropic filing told the market the AI money is real. Silicon bought it.
- Big tech split: MSFT and TSLA up, META and GOOGL red into Wednesday's prints. Positioning, not news.
- Crypto equities: CRCL −6.5%, MSTR −3.8%, COIN and HOOD −3%. On a green tape. Brutal.
₿Bitcoin
- 79,868. Traded around 80.3K into the US session, faded through the 80K line by the close. Third test of 80K in three days. The line is wearing thin.
- ETF flows: Thu −$635.6M (IBIT −254, FBTC −218), Fri −$137.9M. Monday's row not posted yet. October is net red.
- Positioning: HL OI $3.39B, funding 0.01%, $2.8B volume. Liq'd longs $37M vs shorts $19M. Leverage is not the problem; spot demand is.
- Map: 80K reclaim and this was another wick. Lose 79K and the June-lows crowd gets loud. FOMC Wed, monthly options expiry Fri.
🔀Alts
MET +5.6%SPX +3.5%STRK +3.2%TRUMP +2.2%ONDO +1.6%UNI +1.4%ENA +1.1%MON +1.1%
ZRO −9.0%LIT −4.9%WLD −4.2%NEAR −1.9%VVV −1.9%SUI −1.7%XMR −1.5%TAO −1.5%
- ENA 0.2086 (+1.1%), top of the HL >$20M board for a second session. Shorts keep paying.
- LIT 3.04 (−4.9%). Perp-DEX token sold while HYPE went green. Lighter loses the relative trade.
- NEAR 4.47 (−1.9%) on $133M volume, negative funding. Shorts crowding it.
- XMR 595 (−1.5%) with funding 0.057%, longs paying 5x neutral to lose money. ZEC green. Privacy trade is one coin.
- ZRO −9%, worst on the board, no headline found. STRK +3.2%, MON +1.1%, VVV 25.04 (−1.9%).
🐸Memes
| Perp | Price | 24h | OI |
|---|
| SPX | 0.3720 | +3.5% | $5M |
| TRUMP | 1.70 | +2.2% | $8M |
| FARTCOIN | 0.1272 | +1.6% | $24M |
| DOGE | 0.0772 | +0.0% | $78M |
| PENGU | 0.00750 | −0.3% | $6M |
| kPEPE | 0.00431 | −0.9% | $37M |
| PUMP | 0.00422 | −1.4% | $114M |
| CASHCAT | 0.0902 | −5.8% | $19M |
| USELESS | 0.1521 | −10.5% | $7M |
Memes flat, Useless living up to the name. Second straight day at the bottom of the board. Fartcoin quietly green again, funding negative, so shorts are paying to fade it.
Launchpads: PUMP 0.00422 (−1.4%) with $114M OI and funding −0.016%: the most shorted meme on the venue. Bonk.fun vs pump.fun narrative unchanged; no fresh numbers today. Trenches: asleep until BTC holds 80K.
🛡Zcash
- $1,223 (+0.5%), green on a red crypto day. Again. Looks great.
- OI $597M, funding 0.01%, $380M HL volume, busiest alt on the venue after HYPE. Liqs: $3.5M shorts vs $2.8M longs. Bears still funding the rally.
- Zcon7 runs Oct 27–29 in Cancún, Zcash turns 10 on Fed day. Conference week with a bid already under it.
💧HYPE / Hyperliquid
- $77.85 (+1.1%), funding 0.01%, OI $1.61B, $515M volume. Green while BTC, ETH, SOL are red.
- HIP-3 is where the volume is: Nasdaq-100 $342M, S&P $313M, SK Hynix $229M, WTI $225M, SanDisk $192M, Brent $168M, MU $129M, SPCX $113M. Stock perps out-trading every alt but ZEC.
- HYPE liqs: $0.7M shorts vs $0.4M longs. Nobody is fighting it.
🤖AI & pre-IPO
- Anthropic IPO announcement drove the session: Nasdaq and S&P jumped on it, the AI trade back on. The Anthropic perp did the opposite: 1,882 (−1.5%). Sold the news.
- OpenAI perp 1,426 (+0.2%). The gap to Anthropic stays wide.
- SPCX (listed) 147.54 (−1.1%), still ~9% over the $135 IPO.
- Chip tape: NVDA +1.9%, AVGO +2.8%, ARM +5.8%, INTC +4%, SKHX +2.1%. Neoclouds split: CRWV flat, NBIS −4%. MSFT and GOOGL report Wednesday after the bell, same day as the Fed.
🗞Headlines
- Anthropic IPO filing lifts Nasdaq, S&P — AI fears soothed for a day. Bullish.
- SOXX +3%, SOXL +6% — chips lead the whole tape into earnings week. Euphoric.
- BTC back under 80K on a green stock day — decoupled the wrong way. Ugly.
- Spot BTC ETFs −$773M Thu–Fri — week still net positive, but the exit door is busy. Watch.
- Crypto stocks −3% to −6.5% — CRCL, MSTR, COIN, HOOD all red while chips rip. Rotation.
- Iran war keeps Brent at $110 — oil is the Fed's problem Wednesday. Sticky.
- Tesla +4.8%, Intel +4% — swept up in the chip bid, no single headline found. Momentum.
- Zcon7 opens tomorrow — Zcash's 10th birthday lands on FOMC day. Catalyst.
🌙Overnight & tomorrow (ET)
- Mon nightAsia open: Nikkei and Korea follow the chip bid? 80K is the BTC line · Monday's Farside row
- Tue 10/27FOMC day one · Zcon7 opens, Cancún
- Wed 10/282:00 FOMC decision + presser · GOOGL, MSFT after close · Zcash turns 10
- Thu 10/29GDP / PCE (per calendar)
- Fri 10/30Monthly crypto options expiry
- Tue 11/3Midterms
- Fri 11/68:30 jobs report
Sources