Hey crypto enthusiasts! September had its ups and downs, but October? It’s called Uptober for a reason – the month of upward surges! According to CoinDesk’s latest Americas Daybook, Bitcoin and gold are stealing the spotlight. Let’s dive into the action and see what’s cooking in the crypto world.
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🔥 What’s Happening in the Market?
Bitcoin (BTC): Up nearly 3% in the last 24 hours, now around $116,400.
CoinDesk 20 Index (CD20): Jumped 3.5%.
Ethereum (ETH): Gained 3.25%, trading at $4,313.90.
Gold: Surged 3.75% last week, now near $3,890/oz as investors hedge against a potential US government shutdown.
📊 European markets ticked up slightly (STOXX 50 +0.3%, FTSE 100 +0.7%), but S&P 500 and Nasdaq futures slipped. Meanwhile, the Fed is 85% likely to cut rates by 25 bps this month, making risk assets like crypto even more attractive.
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💰 Crypto ETFs See Huge Inflows
September 30 saw massive ETF inflows – over $550M net in a single day!
Bitcoin ETFs: $429.9M net inflows (cumulative $57.72B)
Ethereum ETFs: $127.5M net inflows (cumulative $13.81B)
👀 With the SEC set to decide on 16 spot crypto ETF applications this month, we might see another wave of bullish momentum.
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🌍 Highlights: BlackRock, Banks & Bitcoin DeFi
BlackRock’s IBIT Dominates: iShares Bitcoin Trust’s open interest nears $38B, overtaking Deribit as the top player in Bitcoin options trading.
Swiss Bank’s BTC Fund: Signum Bank launched BTC Alpha Fund, designed to generate Bitcoin yield without price volatility.
Bitcoin DeFi Boom: Dom Harz (BOB Gateway co-founder) says:
