𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟴, 𝟮𝟬𝟮𝟰 US Spot Bitcoin ETFs boug | lucas_1987 on Binance Square

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𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟴, 𝟮𝟬𝟮𝟰
US Spot Bitcoin ETFs bought 17,009 BTC this week.
Miners only created 2,250 more BTC this week.
Supply shock is Coming… 🚀

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

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October 1, 2024 Dogecoin (DOGE) led losses among major tokens with an 8% haircut over the past 24 hours, CoinGecko data shows, with XRP (XRP), Solana’s SOL, BNB Chain’s BNB and ether (ETH) losing as much as 6%. Smaller tokens with a market cap under $2 billion fared worst, with Sei Network’s SEI, memecoin floki (FLOKI) and Starknet’s STARK falling as much as 16%.The CoinDesk 20, a measure of the most liquid digital assets, had its worst drop in weeks. Bitcoin (BTC) rose above $61,500 in Asian morning hours Wednesday after sliding to as low as $60,300 late Tuesday as a Middle East conflict grows, denting hopes for a rally in the asset’s historically most bullish month.

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October 1, 2024 Bitcoin Regains $61K in Worst Start to Most Bullish Month as Israel-Iran Tensions Rage On Global equities and risk assets such as bitcoin took a hit Tuesday as Iran launched missiles on key Israeli locations, with the latter threatening retaliation in the coming days.Tensions in the Middle East pushed down BTC during the first half of Asia trading hours Wednesday. BTC fell the most in over a month, while gold rose, with the drop reaching 6% at one point and 24-hour losses at 3.5%. That was the worst start for the asset’s historically most bullish month, Presto Research traders wrote in a note Wednesday. Polymarket bettors are giving a 49% chance that Israel will retaliate against Iran by the end of the week. “Historically, October has been a strong month for BTC with only two losing years out of the last 11,” Presto said. It pointed out gold’s outperformance in the past 24 hours as a measure of the different maturity levels of both assets. “Last night’s BTC price action (BTC -4% vs. gold +0.8%) in the aftermath of Iran’s attack in May puzzling, esp. considering BlackRock’s recent pitch for BTC as a risk-off asset similar to gold,” researchers led by Peter Chung wrote. “The reality is that the difference in these two assets’ short-term price actions reflects their different maturity phases.” The broad-based CoinDesk 20 (CD20) fell 4.7%, its worst drop in recent weeks. “Gold is a much more mature asset, with a 5,000 year history as a store of value, so there’s not much room left for incremental network effects. BTC, on the other hand, shares the same attributes that make gold a good store of value (better in many cases), but with only 15 15-year history. This means it’s in the early stages of mainstream adoption, and its narrative is still poorly understood,” they added.

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𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟭, 𝟮𝟬𝟮𝟰 📈 For the third consecutive week, there have been inflows into cryptocurrency-based funds. Last week, amid expectations of continued accommodative monetary policy in the U.S., the inflow amounted to $1.2 billion. Ethereum broke a streak of 5 negative weeks, recording an inflow of $87 million.

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𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟭, 𝟮𝟬𝟮𝟰 The Hamster Kombat token has dropped by 40% since it started trading on exchanges The price of the HMSTR token has mostly declined since its debut on exchanges on September 26. Other major coins on the TON blockchain are showing varied performance. 📌 Toncoin (TON) has increased by 10% over the past month, while Notcoin (NOT) grew by 20% just in the last week. 📌 The Catizen (CATI) game token and the DOGS token have both fallen by an average of 30% since their listing on exchanges.

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𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟭, 𝟮𝟬𝟮𝟰 🔥 The listing of EIGEN from the largest restaking protocol EigenLayer has taken place on major exchanges. On Binance, the asset is trading around $4.09. ✔️ Justin Sun claimed 5.24 million EIGEN tokens from EigenLayer across 5 addresses, with a total value of $21.5 million, and transferred all the coins to his HTX exchange within the first 20 minutes after the listing!

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