🥛 Why October could be huge 💪

GM. This is Milk Road, the newsletter delivering your monthly crypto forecast at a glance.

Here’s what we got for you today:

✍️ What to look out for this month
🎙️ The Milk Road Show: The One Crypto Investment Strategy That Could Crush Q4 2025 w/ Slava
🍪 SWIFT is adding a custom blockchain with ConsenSys

Houdini Swap is a DEX aggregator that just launched a brand-new, one-of-a-kind incentive program. Join the POINTLESS incentive program here.

Prices as of 12:00 PM ET, provided by CoinGecko.

WHAT TO LOOK OUT FOR THIS MONTH 📆

Rektember is out. Uptober is in!

…almost.

Don’t let last week’s short-term self off ruin your medium-term outlook – from where we’re standing, October is showing a whoooole lot of potential.

Here’s what we’re seeing:

1/ Macro 🌎

October’s macro event schedule goes something like this:

August JOLTS Job Openings data – Tuesday – How many new job openings were listed in August?
CB Consumer Confidence data – Tuesday – A gut check with US consumers
Potential US Gov. Shutdown – Wednesday – If government funding legislation isn’t passed by Congress on Tuesday, many government offices will shutdown temporarily
September’s ISM Manufacturing PMI data – Wednesday – Are US manufacturers buying more goods in preparation for economic expansion?
Initial Jobless Claims data – Thursday – How many people recently filed for unemployment for the first time?
September Jobs Report – Friday – A monthly summary of US employment
FOMC Meeting – Wednesday, Oct 29 – The Fed’s rate cut decision is announced
PCE Data – Friday, Oct 31 – This is the Fed’s preferred inflation metric, and a decrease in PCE could increase chances of another rate cut in December.

Here’s what we’re keeping a keen eye on in particular this week…

Employment: If the job market continues to show weakness, we can expect an increase in likelihood of an October rate cut (which would stimulate both the economy, and crypto).

Government shutdown: A shutdown could delay the release of certain economic data, which could in turn muddy the Federal Reserve’s view of the market and affect their rate cut decisions.

ISM PMI: When PMI breaks 50 (marked in white below) and continues to climb, we usually see a spike in crypto prices – especially across alts. We’re currently at 48.7. 👇

Source: TradingView

And of course, we’ll be glued to our screens come Oct 29, when the Fed announces its rate cut decision.

P.S. Keep your eyes peeled for this month’s Milk Road Macro PRO Report – it goes out this weekend and is set to be an all-time banger!

(Go Macro PRO or PRO All Access here to get it straight to your inbox.)

2/ Charts 📈

ICYMI: October is historically one of the strongest months of the year for $BTC, averaging 21.89% returns.

First off: Hell yeah.

Second: Historically, it’s just the beginning – November tends to be even stronger , with double the average returns of October. 👇

Source: Coinglass

The cherry on top? These net gains typically continue throughout all of Q4, starting this week:

Source: @MilkRoadDaily

So what potential catalysts do we have on the horizon that could get the ball rolling?

Scroll down to the next article to find out. 👇

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WHAT TO LOOK OUT FOR THIS MONTH (P2) 📆

Alright, where were we?

Ah yes, catalysts that could kickstart the historical trend of consistent weekly gains throughout Q4…

3/ Events 📆

Let’s start with this…

Source: @coinbureau

$5B of potential buy pressure…not bad!

Still not sold? Check out October’s ETF deadline schedule. 👇

Source: @chevycassar

If these ETFs get approved, they could help to attract a whole bunch of fresh TradFi dollars into crypto.

Plus – we’ve got the potential to see a handful of other market moving announcements at:

Token2049 in Singapore – one of the biggest crypto conferences in the world – Oct 1-2.

Some of our team will be there, hit up Raul for hangs.

And…

Zebu Live 2025 in London – the UK's flagship web3 crypto event – Oct 21-22. Our Head Of Research, Kyle Reidhead will be speaking, go say hi!

4/ Podcasts 🎙️

Yep. Another stacked week across the Milk Road podcast ecosystem:

Tuesday Sep 30: Jamie Coutts – Chief Crypto Analyst @ Real Vision / Australia's #2 export (2nd only to Coal) – Milk Road Macro Podcast
Wednesday Oct 1: Bcheque – Co-Founder + CEO @ Modern Market – Milk Road Degen
Thursday Oct 2: Nick Ducoff – Head of Institutional Growth @ The Solana Foundation – The Milk Road Show
Friday Oct 3: Kevin Kelly – Co-Founder @ Delphi Digital – The Milk Road Show

And that’s just this week!

We’ve got the likes of Bitwise, Murad, Etherealize, and more joining us later in the month – so make sure you’re subscribed across our Daily, Degen, and Macro channels.

Alright, that’s it. That’s everything we’re looking at right now!

If anyone needs me, I’ll be doing jumping jacks in the corner.

(Need to burn off some of this nervous excitement. I’m gettin’ twitchy over here.)