Good morning!
ETF flow
*Top Bitcoin ETFs net inflow today: FBTC 123.6M, IBIT 106.8M, GBTC 25.25M, HODL 10.76M, EZBC 5.72M, BTCO 2.54M
*US BTC ETFs see 19M outflows, Bitwise leading with 9.67M.
*ETH ETFs net inflow today: ETHA 10.99M, QETH 4.15M, ETH 2.2M, ETHV 1.9M.
*US ETH ETFs see 10.28M outflows, all from Grayscale Ethereum Trust.
News:
*We’ve officially entered "Uptober," a historically bullish month for Bitcoin. In 8 of the last 9 Octobers, BTC has seen an average gain of 22.9%. A similar rise this month could push the price above $78k, breaking its all-time highs.
*A global bond rally gained momentum amid fears of an escalating conflict between Israel and Hamas. Treasuries advanced following reports from the White House that Iran is preparing to attack Israel, with the 30-year yield dropping by over 7 basis points.
*The S&P 500 fell 0.7% after the index hit its 43rd closing record on Monday, marking a third-quarter rally and the longest winning streak since 2021. Tuesday ushers in a historically favorable, though often volatile, period for equities.
*BlackRock CEO Larry Fink cautioned that markets are factoring in too many Federal Reserve rate cuts, considering the ongoing growth of the US economy.
*The US has indications that Iran is preparing to imminently launch a ballistic missile attack on Israel, according to a senior White House official.
*US job openings increased in August to a three-month high, contradicting other data that suggests a weakening demand for workers.
*In contrast, US manufacturing activity contracted in September for the sixth consecutive month, driven by weak orders and declining employment. The prices-paid index dropped by 5.7 points to 48.3, marking the first time this year it has signaled a decrease in overall costs.
Price Action:
*In the past 24 hours, both Bitcoin and Ethereum have seen slight price declines, accompanied by notable trading volumes at current levels. Technical indicators offer a mixed outlook: while short-term oversold conditions suggest the potential for a rebound, both assets are trading below key moving averages, signaling a broader bearish trend. Additionally, negative sentiment is reinforced by the Chaikin A/D Oscillator, reflecting caution in the market.
