Bitcoin trading volume rises 18.6% to $74.5 billion

1258 ET - More investors are engaging with cryptocurrencies in trading -- although it appears to be investors selling into the risk-off slump that's hit crypto tokens. According to data from Coinglass, $74.5 billion in bitcoin has been traded over the past 24 hours, which is up 18.6% from the prior day. Many altcoins are seeing even bigger explosions in trading volumes -- nearly $4 billion in NEAR has been traded over the past 24 hours, nearly double the previous day. But the higher volumes appear to be in part holders of long positions getting liquidated - with $221.7 million in bitcoin long positions liquidated over the past 24 hours, according to Coinglass. (kirk.maltais@wsj.com) 1234 ET - Miners of bitcoin were operating in negative territory earlier this year, but with bitcoin's surge in September they've become profitable again, says analysts with CryptoQuant in a note. The firm says that miners turned positive in late August, which happened when bitcoin crossed $76,000. Since turning positive, miners are no longer dumping bitcoin to stay afloat, but are able to accrue supplies once again. "Miners flipped from 'extremely underpaid' to 'fairly paid,' and no extreme outflows have followed," says the firm. But a rebuilding in the balances of miners has yet to begin in earnest, says CryptoQuant. Bitcoin falls 2.6% to $81,272. (kirk.maltais@wsj.com) 1227 ET - Housing costs could hypothetically return to "normal" within the next five years if mortgage rates drop to 6%, Redfin says, and home-price growth holds steady around 2.1%. Alternatively, housing costs could return to normal in just a slightly longer timeline--within about six years--if mortgage rates stay where they are today, about 7.5%, and home-price growth flattens. Redfin defines "normal" as the mortgage-payment-to-income ratio returning to August 2018 levels. At that time, the typical U.S. homebuyer needed to spend 30% of their household income on their monthly mortgage payment. If mortgage rates were to drop to the lowest bounds of Redfin's expectations--6%--and price growth were to flatten, housing costs could return to "normal" by February 2029. (chris.wack@wsj.com) 1215 ET - The Seminole Tribe of Florida filed a lawsuit against DraftKings alleging the sports-betting platform's prediction markets app constitutes illegal gambling. The tribe says in its lawsuit that DraftKings' super app, which offers prediction markets in states where sports betting is illegal, is "functionally identical" to the company's licensed sportsbook offerings. There is no distinction between a bet placed through DraftKings' sportsbook and a trade placed on its prediction markets platform, the tribe claims. The tribe also notes that DraftKings' marketing for the prediction markets product includes a gambling addiction hotline and ads for bonus wagers. (katherine.hamilton@wsj.com) 1210 ET - PepsiCo CEO Ramon Laguarta says that some of the problems plaguing the company's North American business are externa