PANews October 19th news, QCP released a weekly summary, this week is an exciting week for cryptocurrencies. BTC rose 10.48% to a high of 69,000, bringing the psychological level of 70,000 into view. There is no major macro data as resistance next week. BTC ETF has seen a large inflow of funds throughout the week. At the close of Friday, the inflow was US$203.3 million, rising for 6 consecutive days. The continued inflow of ETFs highlights that institutional demand remains strong. With the SEC approving BTC ETF options to be listed on the New York Stock Exchange this morning, it is believed that this will provide the ETF with the liquidity needed to attract sustainable capital inflows. Bitcoin's dominance is currently at a multi-year high of 58%, a level last seen in April 2021. As it approaches the key resistance level of 60%, it is believed that this will lay the foundation for a strong recovery of L1 tokens.

In Japan, inflation remains subdued, with headline inflation at 2.5%, down from 3.0%. Market expectations suggest that the Bank of Japan is unlikely to raise rates anytime soon, which has led to a rebound in USD/JPY, which is now trading below 150. With US stocks near record highs, the yen is showing a renewed weakening trend, and risk appetite will only get stronger as the US election approaches. This will drive risk assets higher and support the Uptober narrative.