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Bitcoin Falls Again: ETF Outflows Pressure Price
Consecutive outflows from spot Bitcoin and Ethereum ETFs in the US have deepened the selling pressure in the crypto market. Bitcoin fell below $112,000 on Tuesday, extending its two-day decline. Analysts say both ETF outflows and the reduction in positions in derivatives markets are dampening investors' risk appetite.Bitcoin Price FallsMarket data shows Bitcoin's daily loss exceeded 3%, with the broader market following a similar pattern. Among the top 10 cryptocurrencies, BNB, linked to the Binance ecosystem, suffered one of the sharpest declines, losing nearly double-digit value. At the beginning of the week, spot Bitcoin and Ether ETFs in the US recorded a total net outflow of $755 million. According to SoSoValue data, $326.5 million came from Bitcoin ETFs and $428.5 million from Ethereum ETFs. Grayscale's GBTC fund withdrew $145 million, Bitwise's BITB fund withdrew $115 million, while funds from Fidelity, Ark&21Shares, and VanEck also suffered losses. BlackRock's IBIT fund alone reported $60 million in inflows. On the Ethereum side, BlackRock's ETHA fund alone saw $310 million outflows—the fund's second-worst performance since launch."Monday's outflows reflect the cautious atmosphere following the massive liquidations," said Vincent Liu, investment director at Kronos Research. "Investors are currently awaiting clearer macro signals. Sentiment and risk perception, rather than fundamentals, are driving pricing."Last weekend, US President Donald Trump's announcement of 100% tariffs on Chinese imports triggered one of the largest crypto liquidations in history. Bitcoin tested below $105,000 as more than $500 billion in market value was wiped out. While prices later saw a partial recovery after Trump softened his rhetoric, institutional investors remain cautious.BRN research director Timothy Misir noted that ETF outflows accelerated and open interest plummeted: "Leverage has decreased, forcing the market to become defensive in the short term." According to DeFiLlama data, total open interest on derivatives exchanges fell from $26 billion to less than $14 billion; DEX trading volume hit a record $177 billion, and lending fees exceeded $20 million in a single day.QCP Capital emphasized that US-China trade tensions played a significant role in the recent decline. In addition to the 100% tariff decision, China's export restrictions also fueled panic selling. According to CoinGlass data, $511 million in long positions were liquidated on October 14th alone, sending Bitcoin down to $110,000.Risk aversion has also become evident in the options market. Derive founder Nick Forster reported that investors are turning to near-term put options, with a surge in put buying for October 31st at $115,000 and $95,000. The prominence of selling in call positions for October 17th at $125,000 suggests a negative outlook in the short term.According to Forster, the most important factor determining the future direction will be whether inflows in spot markets will strengthen again. "The market is currently lacking institutional demand. It's difficult to gain upward momentum without new inflows," he said.China's statement Tuesday morning that "we will fight the trade war to the end" has once again intensified market tensions. Bitcoin fell 3.25 percent to below $112,000, while Ethereum fell 3.39 percent to $4,030.
Strategy Continues Bitcoin Purchases: Reaches a Total of 640,250 BTC
Institutional Bitcoin investor Strategy (formerly MicroStrategy) continues to grow its Bitcoin holdings with a new acquisition. Between October 6th and 12th, the company spent approximately $27.2 million by purchasing an additional 220 BTC at an average price of $123,561. This brings the company's total Bitcoin holdings to 640,250 BTC.Strategy's Bitcoin AcquisitionMichael Saylor, co-founder and chairman of the board, stated that these acquisitions were made at an average cost of $74,000 per Bitcoin. Strategy's total investment amount is $47.4 billion, and at current prices, this portfolio is worth around $73 billion. This figure represents approximately 3% of the total supply of 21 million Bitcoin. The company carries approximately $25.6 billion in unrealized profits on this holding. The new acquisitions were financed with proceeds from the sale of Strategy's continuously issued preferred stock. These stock series, codenamed STRK, STRF, and STRD, were launched as part of the company's massive Bitcoin acquisition strategy. STRK, a convertible stock yielding 8% dividends, allows investors to share in the stock's growth. STRF, with its 10% dividend and non-convertible structure, offers a more conservative profile. STRD, with its 10% dividend but non-convertible structure, is considered the stock type with the highest risk-reward balance.These shares are part of the company's $84 billion capital increase strategy, known as the "42/42 Plan." Strategy aims to grow its Bitcoin holdings through both stock and bond issuances by 2027.Strategy Leads BTC Treasury CompaniesAccording to market data, 188 publicly traded companies worldwide hold Bitcoin as a reserve asset. Strategy tops this list; It is followed by Marathon Digital (52,850 BTC), Tether-backed Twenty One (43,514 BTC), Metaplanet (30,823 BTC), Bitcoin Standard Treasury (30,021 BTC), and Riot Platforms (24,300 BTC).The company generated $3.89 billion in unrealized profits from its digital asset portfolio in the third quarter. At the end of the same period, it recorded a $1.12 billion deferred tax expense and a total tax liability of $7.43 billion.The price of Bitcoin dipped below $105,000 after a sharp sell-off last week. However, it recovered at the beginning of the week, rising above $114,000. Saylor, in a social media post over the weekend, stated that the buying would continue, saying, "Don't Stop ₿elievin'" (don't stop believing). Strategy shares closed down 4.8 percent at $304.79 on Friday, down 13.1 percent for the week. Despite this, the company remains committed to its long-term strategy, aligning with Bitcoin's price.
Despite the Crash, $3.17 Billion Inflows into Crypto Funds
Despite last Friday's major market crash, crypto investment products had a strong week. According to CoinShares data, digital asset investment funds recorded a total net inflow of $3.17 billion over the last seven days. This brings the total amount of money entering funds throughout 2025 to $48.7 billion, surpassing last year's record.US President Donald Trump's announcement of new tariffs on China was the driving force behind the sharp market fluctuations. This triggered a global sell-off, quickly liquidating over $20 billion in positions. However, James Butterfill, Head of Research at CoinShares, stated that Friday's panic selling had limited impact on funds: "Despite the sharp market correction, there was only a weak outflow of $159 million on Friday."Trading volumes hit recordsAnother noteworthy piece of data in the report was the record increase in trading volume. Weekly trading volume for crypto investment products reached $53 billion, with $15.3 billion in transactions on Friday alone. This figure is twice the 2025 average. However, total assets under management (AUM) decreased by 7% on a weekly basis, falling from $254 billion to $242 billion.Bitcoin funds took the leadThe highest inflows throughout the week occurred in Bitcoin-focused investment products. $2.67 billion flowed into Bitcoin funds, bringing the total inflow since the beginning of the year to $30.2 billion. However, this figure is still approximately 30% below the $41.7 billion total in 2024. Butterfill also emphasized that trading volumes reached an all-time high of $10.4 billion during Friday's price correction.Ethereum investment products also managed to close the week positively. ETH funds saw $338 million inflows, while Ethereum also experienced the largest individual loss of the week, with a single-day outflow of $172 million on Friday. Butterfill stated that investors considered Ether products "the most vulnerable asset" during the market crash. Altcoin funds slowedA significant slowdown was observed in leading altcoin investment products like Solana and XRP. Solana funds saw inflows of $93.3 million, while XRP funds saw inflows of $61.6 million. These figures were significantly lower than the previous week's massive inflows of $706.5 million and $219 million, respectively. Despite this decline, experts believe that the expected Solana and XRP ETF approvals in the US could generate new momentum in the market. However, as long as the current government shutdown continues, these approvals are likely to be delayed. Currently, at least 16 crypto ETF applications are awaiting approval from the US Securities and Exchange Commission (SEC). According to Nate Geraci, President of NovaDius Wealth Management, "a flood of spot crypto ETFs will be expected" as the government reopens.
Bitcoin and Altcoins Rebound After Historic $19 Billion Purge
Bitcoin and Ethereum have staged a remarkable recovery after the sharp decline over the weekend. The sell-off that began on Friday led to the largest liquidations in crypto history to date. However, analysts believe the bullish sentiment dubbed "Uptober" hasn't completely faded; the market is regaining its footing after a short-lived shock.$19.1 billion in cryptocurrency positions liquidatedAccording to Coinglass data, more than 1.6 million investors liquidated positions on Friday alone, closing a total of $19.1 billion. Bitcoin briefly fell below $105,000, while Ethereum fell to $3,500. This sharp decline was triggered by macroeconomic developments. China's new restrictions on rare earth exports and the US's retaliatory announcement of 100% tariffs on Chinese technology products have shaken global risk perception. This news, arriving just as markets were closed, combined with low liquidity over the weekend, led to a cascade of liquidations. Presto Research researcher Rick Maeda stated that the crash was “not a crypto-specific panic, but a macro-driven liquidation wave.” According to Maeda, the sell-offs amplified by low trading volumes over the weekend, leading to billions of dollars in forced liquidations. “A purge of this scale has de-leveraged the system. The rise we’re seeing now is a result of this mechanical process,” he said. He added that investors aren’t overly concerned about the US-China tariffs: “Polymarket data only prices in a 15% chance that these tariffs will take effect by November 1st. This suggests the market views these risks as limited.”Bitcoin at $115,000Bitcoin’s price has stabilized after the weekend’s sharp sell-off, trading at $115,220 at the beginning of the week. Ethereum is also trading at $4,163, up 0.3% in the last 24 hours. The rest of the market is also showing signs of a slight recovery; BNB rose 1.9 percent to $1.327, while XRP rose 8.2 percent to $2.59. Solana is trading around $196. The total market capitalization has risen again above $2.3 trillion, with trading volumes reaching $91.9 billion for Bitcoin and $60 billion for Ethereum. Analyst Vincent Liu interpreted this recovery as a sign of "recovering risk appetite following panic selling." According to Kronos Research's investment director, the reduction in leverage and easing of tariff concerns have "re-encouraged the market." Liu said, "Traders are currently monitoring factors such as tariffs, technical trend lines, and dollar strength to test whether Bitcoin can sustain this upward trend."Nassar Achkar, CoinW's strategy director, maintains that the "Uptober" trend is still alive. He believes investors are now focused on macroeconomic indicators, particularly the upcoming US Consumer Price Index (CPI) report and the Fed's interest rate decision, for direction. "ETF flows also indicate continued institutional interest in the market, suggesting a sustained recovery," he added.LVRG Research director Nick Ruck also noted the promising on-chain data. According to Ruck, whales have reaccumulated in many assets, particularly Ethereum. "Technical indicators are signaling a strong reversal from oversold territory. This confirms the bottoms for many altcoins," he said.Despite this, Maeda believes the scars of the market's "trauma" will not fade easily. "We are facing the largest liquidation event in crypto history. This will have a lasting impact on investor psychology. The market is now much more sensitive to macro shocks, especially the US-China trade tension," he warned.Looking at the overall picture, the crypto market is seeking stability again after a period of significant volatility. The "Uptober" sentiment has been dashed, but it hasn't completely faded. Deleveraging, on-chain buying, and institutional inflows from ETFs are creating cautious optimism in the short term. Bitcoin holding steady around $115,000 and Ethereum holding above $4,000 suggest investors are regaining confidence for now.
$5.6 Billion in Bitcoin and Ethereum Options Expires Today
Volatility in the crypto market could rise again this weekend. According to Deribit data, a total of $5.3 billion worth of Bitcoin and Ethereum options contracts are expiring today. This development both increases uncertainty about price direction and suggests that sharp market movements are possible heading into the weekend.Critical level for Bitcoin: $118,000Bitcoin options account for the majority of this massive expiration volume. A total of $4.7 billion worth of contracts are set to expire today. According to analysts, the "maximum pain" level in the market before this expiration, or the price at which option buyers incur the most losses, is around $118,000. This level is also seen as a key short-term support level for Bitcoin. Deribit data shows that Bitcoin investors' positions are split in two: one group is focused on $110,000 worth of put options, while the other maintains bullish expectations with $120,000 worth of calls. This imbalance could pave the way for sharp price movements heading into the weekend.Bitcoin's put/call ratio in the options market is currently at 1.10. This ratio suggests that investors are seeking some downside protection, but the overall outlook remains balanced.More optimistic sentiment prevails on EthereumThe outlook for Ethereum is slightly more positive. Approximately $944.5 million worth of ETH options will expire today. Ethereum's put/call ratio is at 0.90, meaning there are more buy positions than sell positions. This suggests investors believe in short-term upside potential.The maximum pain level for Ethereum is $4,400. A price hold above this level could bolster market confidence for the weekend. However, a drop below $4,300 could increase the likelihood of a short-term correction.Liquidity decreases and volatility increasesLarge-scale option expirations can cause sudden directional changes in the spot market. This is because many investors are forced to close or rebalance their positions after expiration. This, in turn, increases price volatility with high volumes of transactions on both the buy and sell sides.Glassnode's latest data reveals that Bitcoin is still trading above its short-term investor cost floor. While this suggests continued upward momentum, it also poses the risk of market overheating. According to analysts, it is critical for the price to maintain the $118,000 support level; otherwise, liquidations in leveraged positions may occur.On the Ethereum side, the increase in open interest indicates that institutional and individual investors are reshaping their market expectations. This makes determining the direction in the short term even more difficult.With the expiration of a total of $5.6 billion in options, the price of both Bitcoin and Ethereum may experience short-term sharp price movements. Historically, the market has experienced high volatility for several days following such large expiration periods. Experts predict that Bitcoin could rally back to $120,000 and above if it manages to hold above $118,000, while Ethereum has the potential to rally toward $4,750 as long as it stays above $4,400. However, a breakdown of these support levels could see further selling pressure in the market throughout the weekend.
Bitwise: Bitcoin ETF Rally Fueled in Final Quarter of Year
US-based digital asset management company Bitwise predicts that spot Bitcoin exchange-traded funds (ETFs) will experience record inflows in the fourth quarter of the year. The company believes this momentum could even surpass the total in 2024.Bitwise Chief Investment Officer Matt Hougan predicted at the beginning of the year that Bitcoin ETF inflows in 2025 would surpass the $36 billion launch period in 2024. Approximately $22.5 billion has flowed into these products so far, and they are expected to reach $30 billion by year-end. However, in his latest investor note, Hougan stated that this figure could be much higher, with a particularly strong wave of inflows expected in the final quarter of the year.Three Key Factors Supporting the Fourth QuarterAccording to the Bitwise report, three main factors are fueling this expectation: Bitcoin ETF approvals by asset management firms, the recent surge in Bitcoin prices, and the "debasement trading" narrative.Morgan Stanley recently adopted a new policy allowing limited investments in crypto assets. The bank offered a 0% Bitcoin ETF allocation for cautious investors and a 2% to 4% allocation for those with a higher risk tolerance. Wells Fargo also offered its advisors access to Bitcoin ETFs. Major players like UBS and Merrill Lynch are expected to join the group. According to Bitwise, these moves signal significant pent-up demand among advisors and portfolio managers.The "value erosion" narrative is gaining tractionHougan noted that gold and Bitcoin have become the two strongest asset classes this year. While the US money supply has increased by 44% since 2020, investors are turning to assets that retain their value during periods when governments weaken their currencies. JPMorgan also highlighted this trend in its latest report. As year-end portfolio reviews approach, many financial advisors are reportedly aiming to capitalize on this performance by adding gold and Bitcoin to their clients' portfolios. Inflows increase as price risesBitwise noted that historically, when Bitcoin's price increases by double digits, billions of dollars also flow into ETFs. In early October, Bitcoin rose 9% to a new record high of over $125,000. Following a slight correction, it currently trades around $122,744. Hougan says this performance has rekindled investor interest and laid the groundwork for a strong final quarter.$3.5 billion inflows in the first four daysAccording to Bitwise data, $3.5 billion in net inflows into Bitcoin ETFs occurred in the first four trading days of the fourth quarter. This brings the total inflow since the beginning of the year to $25.9 billion. "We have 64 days until the end of the year. Another $10 billion needs to come in, and I think we'll go beyond that," Hougan said.As of Tuesday, ETFs added $875.6 million to this amount. BlackRock's IBIT fund led the day with $899.4 million in inflows. The day before, on Monday, ETFs had recorded their largest daily inflow since Donald Trump's November 2024 election victory: a whopping $1.21 billion.
Fed Member's Message That Could Guide Cryptos
US Federal Reserve (Fed) Board Member Stephen Miran reiterated the need for a more rapid and deep interest rate cut, sparking a new wave of optimism in the cryptocurrency markets. Miran's remarks reignited ongoing discussions within the Fed, which has long maintained a tight monetary policy. Investors, believing this stance meant liquidity could increase sooner than expected, fueled their appetite for buying crypto assets.Speaking at the "Managed Funds Association Policy Outlook 2025" event held in New York on Tuesday, October 7th, Miran stated that the "neutral interest rate" had fallen compared to last year. He noted that this situation made the current policy stance "more restrictive than expected," and warned that keeping interest rates high for an extended period could lead to an unnecessary slowdown. In his view, the appropriate interest rate range should be around 2.0–2.5 percent, well below the current 4.00–4.25 percent.What was the inflation statement? Miran stated, "I'm more optimistic than many others about inflation," arguing that the slowdown in the housing market and population dynamics would continue to reduce price pressures. He noted that he estimated the true neutral interest rate to be around 0.5 percent, but added that this rate cannot be measured directly, so policymakers should remain cautious. He also noted that artificial intelligence technologies could raise the neutral interest rate by increasing productivity in the long run, but current data does not yet reflect this effect.Miran's "dovish" approach contrasts sharply with last year's hawkish stance. Miran, who opposed interest rate cuts at the time, attributes this policy shift to the transformation of immigration, fiscal policy, and general economic dynamics. Rising public spending and expanding labor supply, in his view, now necessitate a more relaxed stance.The day before Miran's speech, Bitcoin reached $126,000. However, following the announcement, it fell 2.6 percent to $121,500. At the time of writing, it's trading around $122,800. Ethereum retreated to the $4,450 range after testing $4,750. BNB, on the other hand, rose 8%, becoming the week's standout altcoin. Despite short-term market fluctuations, analysts say Miran's statements could be supportive for crypto assets in the medium term. This is because a low interest rate environment typically weakens the dollar, increasing demand for risky, low-yield assets.If interest rate cuts are implemented, stablecoin yields and DeFi lending rates could decline; however, increased liquidity could offset this effect by stimulating on-chain activity. Furthermore, the $14 billion in institutional capital that entered spot Bitcoin ETFs in the third quarter of this year is expected to continue. This could rekindle interest in digital assets, particularly from large funds.Miran's remarks resonated within the crypto community, with comments like "Is the era of liquidity returning?" However, Fed Chair Jerome Powell and some members remain cautious. Powell notes that the risk of persistent inflation could delay interest rate cuts. Still, Miran's call for a more lenient monetary policy has bolstered expectations of a more comfortable macroeconomic environment by the end of the year. For crypto investors, this could mean a resurgence of both market confidence and risk appetite.
3x Leveraged ETFs for XRP, SOL, ETH, and Bitcoin Are Coming
The crypto market is heating up again. This time, GraniteShares is taking the stage. The US-based investment company has launched a plan for 3x leveraged exchange-traded funds (ETFs) for XRP, Solana, Ethereum, and Bitcoin. This means investors will now be able to take leveraged positions on both upside and downside of these major crypto assets with up to three times the leverage. 3x leveraged ETFs are coming for four cryptocurrenciesUS-based investment company GraniteShares is taking a new step to whet the appetite of crypto investors. The company has applied to offer 3x leveraged exchange-traded funds (ETFs) based on XRP, Solana, Ethereum, and Bitcoin. These products will be designed for both long (bullish) and short (bearish) positions.GraniteShares already offers similar leveraged products for Bitcoin, Ethereum, and Solana. However, the new application promises investors much higher returns (and, of course, risk) by offering up to 3x leveraged trading, particularly for XRP. Interest in XRP ETFs ContinuesIn recent months, 2X leveraged XRP ETFs have gained significant popularity among investors. GraniteShares aims to take this trend a step further. The company's planned 3x version is designed for risk-averse investors looking to maximize price fluctuations.However, this move comes at a time when the overall outlook for the crypto market is pessimistic. The XRP price has fallen below $2.90, while Bitcoin and Ethereum are also in the red. This has dampened enthusiasm for ETF applications in the short term.Approval Process Stalled by Government ShutdownThe U.S. Securities and Exchange Commission (SEC) has temporarily suspended review of new ETF applications due to the federal government shutdown. This has led to the indefinite postponement of approval for many altcoin products, including XRP ETFs.Nevertheless, GraniteShares' persistence is noteworthy. The company was one of the first institutions to champion crypto ETFs in the past. This move could create a leadership opportunity in the "high risk, high return" segment.Leading XRP lawyer Bill Morgan responded to GraniteShares's application with humor: "I will continue to panic-buy XRP in the face of this overwhelming demand for an XRP ETF," he said. Morgan also emphasized that the application demonstrates that XRP remains among the top four cryptocurrencies, alongside Bitcoin, Ethereum, and Solana.GraniteShares's move signals continued interest in XRP from institutional investors, even as the market declines. Despite regulatory uncertainty and price weakness, leveraged ETF offerings have brought XRP back into the headlines.The market's calm comes amidst a growing influence of traditional finance (TradFi). However, if these 3X leveraged products are approved, a renewed surge of volatility and renewed retail investor interest is expected in the crypto market.In short, if GraniteShares's move is approved, it could usher in a new era for risk-averse investors—a bold step bridging the gap between crypto and traditional finance.
VanEck Sets $644,000 Target for Bitcoin
Bitcoin's role as "digital gold," long dubbed "digital gold," has once again become a hot topic in the financial world. According to investment giant VanEck, the leading cryptocurrency could reach half the market value of gold by the next halving in 2028. Matthew Sigel, the company's head of digital asset research, predicts that the "equivalent value" for Bitcoin will be $644,000 during this period, when gold is reaching record highs.Gold futures have reached a record high of over $4,000 per ounce. This rise reflects the continued shift towards traditional safe havens. According to Sigel, this record high for gold also demonstrates Bitcoin's long-term potential: "At half the current price of gold, it would translate to a price of $644,000."Bitcoin price is currently trading around $124,000, with a total market capitalization of $2.48 trillion. Market data shows a 12% increase in the past month. However, VanEck analysts emphasize that this target could be achieved gradually over a period of five to 10 years, rather than in the short term. Derek Lim, manager of Caladan Research, said, “Reaching half of gold’s market capitalization requires an increase of approximately 5.6 times from current levels. Bitcoin is no longer parabolic as in the past, but exhibits more consistent growth. Therefore, achieving this target may take several years, not just one cycle.”These predictions coincide with gold outperforming Bitcoin this year. According to TradingView data, gold rose 49 percent through 2025, while Bitcoin’s return remained at 31 percent. However, analysts believe this gap will close in the long term. Ryan McMillin of Merkle Tree Capital said, “Even JPMorgan described gold and Bitcoin as ‘hedges against loss.’ It makes sense to consider the two together; first, half-value, then parity is possible.” VanEck predicts that Bitcoin could conduct 10% of global trade and 5% of local transactions on blockchain in the long term. According to a report published by the company in July 2024, central banks could hold an average of 2.5% of their assets in Bitcoin in the future. In this scenario, Bitcoin's market capitalization could reach $61 trillion and its price $2.9 million by 2050.Will history repeat itself?On the other hand, the market is cautious about whether historical cycles will repeat themselves. In the past, Bitcoin peaked 500–550 days after the halving. However, this cycle could be different. Experts note that spot ETFs and institutional participation have reduced volatility and made growth more sustainable.According to Derek Lim, “This time, we may see a more sustained upward trend, not a short-lived peak like in the past. The Fed's interest rate cut cycle has just begun, meaning Bitcoin has the wind at its back.”
Record Inflow into Global Crypto Funds: Strong Rise in Bitcoin and 6 Altcoins
Crypto asset investment products saw a record inflow of $5.95 billion last week. According to CoinShares data, this figure marked the highest weekly inflow ever measured for digital asset funds. This surge in investor interest is believed to be driven by the delayed response to the US Federal Reserve's interest rate cut, weak employment data, and concerns about the risk of a government shutdown.US-based products led the week by a large margin with $5 billion in inflows. Switzerland broke its own record with $563 million, while Germany saw its second-highest weekly inflow with $312 million. This strong performance brought the total asset value under management (AUM) of digital asset investment products to an all-time high of $254 billion.Strong inflows led by Bitcoin and EthereumThe lion's share of investment inflows went to Bitcoin. With $3.55 billion in weekly fund inflows, BTC reached its highest level in history. Despite this, investor interest in short-term instruments remained extremely low. This suggests that the overall bullish outlook in the market remains strong. Ethereum saw a strong inflow of $1.48 billion. This brings ETH's total fund inflow since the beginning of the year to $13.7 billion, almost triple the level of 2024. Spot Ethereum ETFs traded in the US reportedly received $1.3 billion, with BlackRock's ETHA product leading the way with an inflow of $691.7 million.Records for Solana and XRPSolana (SOL) saw its highest weekly inflow in history with $706.5 million. This figure brings Solana's total fund inflow for 2025 to $2.58 billion. XRP also attracted attention with a strong inflow of $219.4 million. However, other altcoins did not see the same momentum; Sui saw $3.4 million, Chainlink $1.5 million, and Litecoin $1.2 million. In contrast, multi-asset products saw $23.5 million in outflows. CoinShares data shows that investors preferred to concentrate on specific assets rather than diversify their portfolios during this period.US Dominance of ETF ProvidersAmong fund providers, iShares (BlackRock) ETFs topped the list with a massive inflow of $2.5 billion. Fidelity's Bitcoin fund saw inflows of $692 million, Grayscale's $305 million, and Bitwise's $295 million. CoinShares XBT products experienced a limited outflow of $12 million.Total inflows since the beginning of the year have reached $45.5 billion, with $35.7 billion of these flows coming from iShares products. This chart clearly demonstrates that US-based ETFs clearly dominate the market dynamics.Weakening global employment data has reinforced investors' tendency to reduce risk in traditional markets. This has fueled demand for liquid assets, particularly Bitcoin and Ethereum. According to CoinShares analyst James Butterfill, market movements indicate that the search for a “digital safe haven” has regained momentum due to both the delayed impact of the interest rate cut and political uncertainties in the US.
Bitcoin Reclaims Its Throne: Breaks New Record at $125,000
Bitcoin is making headlines again. Having reached a new all-time high of $125,750 over the weekend, BTC began the new week with a slight correction and is trading at $123,886.21 according to the latest price data. Following September's volatile run, the rally, which exceeded 9% in October, has gained technical strength as the $120,000 level transitioned from resistance to support. This threshold strengthens the position of buyers while limiting selling pressure for now.US Government Shutdown Impacts BitcoinThe market's story isn't just about the charts. The possibility of a slowdown in data flow due to the US government shutdown has fueled expectations that global central banks will remain cautious, reviving the "safe haven" narrative. Demand for spot Bitcoin ETFs is supporting this narrative on the price side. Indeed, the rally came over the weekend, a day when liquidity is generally shallower; This suggests that the move was fueled by spot demand and ETF inflows rather than a single-day squeeze. The cryptocurrency's total market capitalization rose to approximately $4.07 trillion, while the Fear & Greed Index stood at 64, a region devoid of excessive enthusiasm but still open to risk appetite.The altcoin picture is mixed. While the market retreated, profit-taking was prominent in some majors; however, weekly divergences continue. BNB closed the week on a high note and maintains its momentum; its latest price was $1,212.01. Ethereum is at $4,568.31. While October's performance wasn't as aggressive as Bitcoin's, institutional demand and the staking narrative are keeping ETH strong. Solana is off its yearly lows at $233.68; developer interest in the ecosystem and accelerating DeFi activity are providing support below the price. XRP is at $2.9935; increasing open interest in the derivatives market suggests the search for a catalyst in spot continues. TRX is at $0.3438 and DOGE is at $0.25695; while short-term fluctuations continue on the memecoin side, sharp movements have become intermittent thanks to deep liquidity. The health of the stablecoin front is also noteworthy: USDT is at 0.99992116; USDC is at 0.9995. The approximately $45 billion expansion in stablecoin supply in the last quarter suggests that ammunition is accumulating for new buying waves. In the technical picture for Bitcoin price, the focus is once again on the $125,000 range. This level is no longer merely psychological; it is also a region where long-term investors have been selling from time to time since July. A rapid approach and unsuccessful attempt in the short term signal that supply is still the dominant force; a climb under gradual and calm funding conditions increases the likelihood of a break above the resistance. Below $120,000 remains a current "quality test"; staying above this level is critical for maintaining the trend without tiring. It is beneficial to seek confirmation on volume during the week. From a macroeconomic perspective, two themes stand out: the "expectation of monetary easing" and the "erosion of the dollar's value." The simultaneous rise in the price of gold reinforces this framework; these periods, when risk assets and safe havens rise together, generally coincide with phases where the possibility of easing monetary conditions is priced in. ETF inflows into institutional structures, news of companies adding BTC to their balance sheets, and the recovery in crypto-related stocks are other links in the chain.In summary, there's no clear answer to the question "is the bull run over?"; however, the data suggests the run is taking a break and we're in the early stages of the marathon. $125,000 is a short-term magnet; it's likely to be tested. A break above suggests new exploration territory; a decline below suggests a reactionary force in the $120,000–122,000 range. Within this framework, risk management, leverage discipline, and the direction of stable liquidity flow will again be decisive in portfolio management.
Samsung and Coinbase Partner to Provide Cryptocurrency Services to 75 Million Galaxy Users
Samsung has announced a partnership with Coinbase, taking one of its biggest steps into the cryptocurrency world. According to the announcement, 75 million Galaxy device users in the US will now have access to Coinbase's premium transaction service through Samsung Wallet. This move marks Coinbase's largest individual user rollout to date and Samsung's strongest move into crypto assets.Samsung Wallet will offer Galaxy owners the Coinbase One service directly from their phones. This service includes zero transaction fees and increased staking rewards. Users will be able to easily buy and sell crypto without having to download a separate app or transfer funds to other platforms. This will unify the crypto experience with smartphone payment and identity management features.Samsung Pay integration will also be implementedAnother aspect of the partnership is Samsung Pay integration. Galaxy users will be able to use their crypto assets directly through Samsung Pay as a payment tool. This will make cryptocurrencies more important not only for investment or staking, but also as a part of everyday life. Users will be able to store their credit cards, public transportation passes, and IDs within the same digital wallet, while also accessing their crypto accounts.Coinbase's Head of Business Development, Shan Aggarwal, stated that their vision is to "transfer over a billion people onto blockchain," emphasizing that the path to achieving this goal is through the devices people already use. Aggarwal emphasized that making it easier to participate in the crypto ecosystem will accelerate global adoption.On the Samsung front, Drew Blackard, Senior Vice President of Mobile Product Management, stated that adding crypto features to Samsung Wallet, which Galaxy users already use securely, will make the experience more functional and engaging. Blackard stated that such collaborations enrich users' digital lives.While the program will initially launch in the US, it will expand to international Galaxy markets in the coming months. This will allow millions of Galaxy users in Europe and Asia to access Coinbase services directly from their devices.
$4.3 Billion in Options Expiration on Bitcoin and Ethereum: What Awaits the Markets?
The cryptocurrency market is passing a critical juncture on the last day of the week. A total of $4.3 billion worth of Bitcoin and Ethereum options contracts will expire today. This volume has the potential to both increase price volatility and cause investors to reconsider their positions.According to options data, $3.36 billion of the expiring contracts belong to Bitcoin. Ethereum accounts for $974 million in volume. According to information from the Deribit exchange, the "maximum pain" level for Bitcoin is $115,000. This level is known as the point at which the most options contracts become worthless, and market participants are closely monitoring the possibility of a price pullback to this level. Bitcoin is currently trading above $119,000. While this strengthens the position of bullish investors, it also raises the possibility that options sellers will push the price down. A total of 27,962 Bitcoin options contracts are expiring, with a put-call ratio of 1.13. This ratio indicates that there are more put contracts than call contracts, and the market trend is slightly negative.The picture is slightly different for Ethereum. The total value of contracts expiring is $974 million. The maximum pain level in this market, which includes 216,210 contracts, is calculated as $4,200. The put-call ratio of 0.93 indicates a more neutral outlook compared to Bitcoin. However, analysts note that volatility on the Ethereum side has decreased significantly in recent weeks, and investor interest has shifted to Bitcoin.$21 billion was on the agenda last weekLast week, the record $21 billion monthly options expiration significantly shook the markets. While this week's figures remain well below that level, they still have the potential to create volatility. Bitcoin's price, in particular, being just above the critical $120,000 level, indicates that the price is vulnerable to sharp fluctuations in the short term. Options analytics platform Greeks.live describes the current market environment as "extremely volatile and difficult to determine direction." According to analysts, intraday movements exceeding 3% are frequently observed, catching many investors off guard. It has become particularly common for short-term options contracts, which experienced 80% losses in the morning, to reverse course in the afternoon, leaving investors in the wrong position.Ethereum, on the other hand, is notably low in volatility. Consequently, many traders are aiming to capitalize on short-term sideways movements by selling ETH puts and buying Bitcoin calls at $120,000. This strategy is based on the expectation that the market will not make a significant breakout.In short, today's $4.3 billion options expiration will test Bitcoin's ability to sustain the $120,000 level. For Ethereum, the price is expected to remain relatively calm due to low volatility. However, it's important to remember that maximum pain levels for both assets can act as a "center of gravity" in the market.
JPMorgan's Record Bitcoin Prediction: Is $165,000 Coming?
As cryptocurrency markets enter the final quarter of the year, Wall Street giant JPMorgan has released a striking report. The bank stated that Bitcoin is significantly undervalued compared to gold, setting an ambitious year-end price target of $165,000.Bitcoin and gold comparisonUS banking giant JPMorgan stated that Bitcoin is significantly "cheap" compared to gold, setting a year-end price target of $165,000. The bank's analysts highlighted the volatility-based valuation gap between Bitcoin and gold.In their report, a team led by JPMorgan senior manager Nikolaos Panigirtzoglou highlighted that the Bitcoin-gold volatility ratio has fallen below 2. Accordingly, Bitcoin's risk capital consumption has fallen to 1.85 times that of gold. Analysts stated that Bitcoin's current market capitalization of $2.3 trillion would need to increase by approximately 42% to approach the $6 trillion level of private investment in gold. This theoretically points to a Bitcoin price of $165,000.At the end of last year, the bank calculated that Bitcoin was $36,000 overvalued compared to gold, but now reports that it is $46,000 undervalued. This rapid change, according to analysts, indicates significant upside potential for Bitcoin.The "Debasement Trade" EffectA JPMorgan report stated that investors are increasingly turning to a strategy called "debasement trade." This concept describes a shift to alternative value-preserving instruments due to factors such as inflation, government debt, geopolitical risks, and a decline in confidence in fiat currencies. Significant increases in inflows into both gold and Bitcoin ETFs have been observed in the past year.While spot Bitcoin ETFs saw strong demand, particularly in the first half of 2025, momentum slowed somewhat during the summer months. In contrast, inflows into gold ETFs accelerated, narrowing the gap between the two assets. JPMorgan noted that this process was driven primarily by the participation of individual investors, while institutional investors primarily held positions in CME futures. Rising gold prices may be making Bitcoin more attractiveAccording to analysts, the recent surge in gold prices is making Bitcoin relatively more attractive. JPMorgan, which announced a year-end target of $126,000 in August, revised its new price target upwards for Bitcoin following the gold rally.JPMorgan's forecast comes at a time of increasing bullish expectations in the market. In recent weeks, various analysts and financial institutions have begun talking about a $200,000 price target for Bitcoin. Currently trading around $119,000, Bitcoin's ability to reach $165,000 before the end of the year will depend on continued investor interest and a strengthening of the "debasement trading" trend.
Bitcoin and Altcoins Rise: Is Uptober Coming?
As the US federal government shutdown continues into its second day, cryptocurrency markets are exhibiting a strong recovery. Historically, government shutdowns have led to a surge in stocks; this time, a similar effect is being seen in Bitcoin and Ethereum. Bitcoin tested $121,000 on Thursday, reaching its highest level since mid-August. Ethereum, meanwhile, traded above $4,500, reaching a three-week high. Experts emphasize that the correlation between crypto assets and stocks will increase significantly by 2025. Since 1990, the rise in the S&P 500 index during every government shutdown has boosted investors' risk appetite. In this context, Bitcoin is reportedly benefiting from the same wind.The record-breaking rise in the gold market is also providing additional support to Bitcoin. Gold has reached an all-time high of over $3,900 per ounce. JPMorgan analysts predict that Bitcoin remains relatively cheap compared to gold at volatility-adjusted valuations and could rise to $165,000 by the end of the year. The recent shift by individual investors toward both gold and Bitcoin suggests that the pursuit of protection against inflation and currency depreciation, known as "debasement trading," is gaining traction.Cryptos Also Have Institutional SupportOn the institutional front, spot Bitcoin ETFs have begun to play a significant role in the market. On October 1st, the daily trading volume of spot Bitcoin ETFs in the US surpassed $5 billion. BlackRock's iShares Bitcoin Trust (IBIT) fund alone attracted $405 million in inflows and currently holds 773,000 BTC, reaching a size of approximately $93 billion. Fidelity also added a $179 million position by purchasing 1,570 BTC in a single day. This brings the total assets under management of spot Bitcoin ETFs to $155.9 billion. This figure corresponds to 6.6 percent of Bitcoin's total market capitalization.Another development that has increased investor interest has come from traditional giants. Vanguard, which has long distanced itself from crypto, is considering offering Bitcoin and Ethereum ETFs to its clients. New CEO Salim Ramji's background at BlackRock signals a possible softening of the company's approach. Even just 1 percent of Vanguard's 50 million clients accessing ETFs could mean half a million new investors entering the market.On the macroeconomic front, the probability of another Fed rate cut at its October meeting is priced at 98 percent. Both stocks and crypto assets began to rally after the first rate cut in September. A new rate cut could reinforce the markets' upward momentum.All these factors combined further strengthen expectations for October, known within the crypto community as "Uptober," historically the strongest month for Bitcoin. Bitcoin, which has risen by over 14 percent on average in October since 2013, may be no exception this year. According to analysts, the technical outlook opens the door for a potential move to $128,000.
