Welcome back to the Chroma Newsletter. (4 min read)

War. Inflation. AI trade fears. Surging oil prices.

The past two weeks have been anything but quiet.

Yet through all of it, Bitcoin is still trading around $80k.

Not exactly the Uptober the bulls were expecting, but considering everything that has happened, it could have been a lot worse.

Let's dive in.

The last fortnight was rough.

On 22nd October, Meta fell 7% despite beating revenue expectations, wiping around $124B off its market value. Its quarterly report raised concerns over massive AI spending.

That same day, the Nasdaq dropped 2.6%, its worst session since June, while the semiconductor index lost 6.7%.

As stocks sold off, investors turned to Treasuries for safety. The US 10Y yield fell 17 bps to 4.94%, dropping below 5% for the first time since September.

Yields finally came down this time, but only because tech stocks were getting dumped. Not the kind of relief the bulls were hoping for.

Then came oil. On 23rd October, Brent crude settled at $116.72, its highest since April, after Houthi attacks on Saudi energy infrastructure. Reports of possible new US-Israeli strikes on Iran after the 3rd November midterms added to the uncertainty.

As for yesterday's FOMC meeting, the Fed held rates at 3.75-4.00%, as expected. But two officials voted for a hike, and the market is still betting on one in December.

Fed Chair Warsh also announced changes to the meeting schedule. Next year, one of the Fed’s eight annual meetings will focus on monetary policy strategy rather than rate decisions. By 2028, he expects to hold six rate-setting meetings and two strategy meetings a year.

Bitcoin didn't escape the selloff either.

It pushed towards $85k on 21st October, only to fall back below $80k three days later. Alts got hit even harder.

But look at the fortnight we've just had.

A war with no end in sight. Oil above $116. Fresh fears of an AI trade unwind. And the US midterms just around the corner.

After all that, BTC is still trading around $80k, despite several breakdown attempts.

The bears could still get the move they're waiting for. But given the amount of panic on the timeline, Bitcoin has held up better than you'd expect.

Maybe most of the FUD is already priced in. Or maybe the next headline finally sends it lower.

Either way, the next few weeks should give us a clearer picture.

Not everyone had a rough fortnight.

Chroma Analyst JONZi caught the entire move down on BTC, securing +11.5R and $40,000 in profit in a single trade.

He's now sitting in 3rd place on the Breakout Leaderboard, with $90,500 in verified payouts in October alone.

The setup was shared in advance, and several members caught the move alongside him.

One Chroma member made $24,000 in profit, calling it the biggest win of his life.

This is what we do inside Chroma.

Every trade you take, no matter the asset or timeframe, starts with the same two questions.

Where is price likely to react? And why?

Headlines won't answer that. Neither will CT. Price action will, if you know how to read it.

That's why Chroma has officially released Modules 5 and 6 of the new Trading Syllabus.

Inefficiencies. Support & Resistance.

Two of the most important topics when trading price action.

Learn which areas actually matter and how to trade them.

Three new additions. All started out as regular Chroma members, and now they're officially joining the team in November.

First up, Certa. He's been trading since 2020 and won the Chroma Trading Competition in August. Over the last three months, he has secured +28.27R with a 62.1% win rate.

Then there's Lemon. An altcoin specialist who has spent months sharing setups and helping other traders inside the server.

Both are joining the trading team, where they'll share their analysis, break down their approach and help members build their own edge.

And finally, Rik, who's joining the moderator team. He finished 6th on the August Breakout Leaderboard with $112k in payouts and has secured over $130k in prop firm payouts this year.

He'll focus on data analysis, news-based alpha and trading support for the entire community.

All three earned their spots by showing up and putting in the work.

Even after everything Chroma has built so far, Follis isn't slowing down. His goal for the rest of the year is simple:

Set the team and the entire Chroma community up for maximum upside in 2027.

October wasn't short on bearish headlines. Yet Bitcoin has held up better than many expected.

Whether the bottom is in or there's another leg down, nobody knows for sure.

But with two months left in 2026, there's still plenty you can do.

Review your mistakes. Refine your strategy. And stop letting every headline change your plan.

Play the next two months right, and you could set yourself up for your best year yet in 2027.

See you in two weeks.

~ The Intern