Bitcoin in China: Estimates put China national Bitcoin holdings at approximately 194,000 $BTC This refers to estimated national holdings, not individual investors. ๐
๐จ๐ณ Oct 2๏ฝCrypto Market Brief $BNB ๐ BTC reclaims $86K, the second day of Q4 continues to rebound
BTC is currently around $86.3K, briefly nearing $86.9K during the day; ETH is around $2.76K, SOL around $122.
Overall, the market has warmed up. Since the beginning of October, BTC has risen by about 3%. However, Treasury yields are still high, the dollar is strengthening, and macro pressure has not disappeared.
๐ฅ ETF inflows return as the core support
In September, the US spot BTC ETF recorded net inflows of about $2.65B, the second-strongest monthly performance since October 2025; ETH spot ETFs saw net inflows of about $832M in the same period.
On Oct 1, BTC ETFs again logged around $102.7M in net inflows, with the funds mainly flowing to BlackRockโs IBIT.
๐ฆ SEC: New framework for institutional crypto custody
The market is continuing to digest the SECโs Crypto Custody proposal released yesterday.
Under the new scheme, qualified investment advisers and regulated funds may, under certain circumstances, self-custody crypto assets, and state-level trust companies may also be used as custodians.
However, note that this is still a Proposalโnot the final rules. After the formal release, there will be a 60-day public comment period.
๐ฐ Citi raises its BTC target to $113K
Citi raised its 12-month BTC target from $82K to $113K, and its ETH target from $2,240 to $3,028.
The report attributes the forecast adjustments mainly to ETF capital returning, higher activity in the crypto market, and an improving macro environment.
This is an institutional view, not a price guarantee.
โก The real test today: US Non-Farm Payrolls
US September NFP employment data will be released today.
The market previously expected an increase of about 90K jobs, with the unemployment rate staying at 4.1%. The employment report will directly affect how the market assesses the Fedโs interest-rate path for October.
Meanwhile, Core Lightning reminds users running older versions of nodes to upgrade as soon as possibleโunupdated nodes are increasingly becoming targets of attacks.
๐ Market Snapshot
BTC โ $86.3K ETH โ $2.76K SOL โ $122 XRP โ $1.53 BTC Dominance โ 57% Fear & Greed โ 72 Market Cap โ $2.99T
๐ฏ On Day 2 of Q4, the marketโs logic is changing:
ETF inflows are back in, the institutional regulatory framework continues to move forward, BTC has reclaimed $86K,
But what will truly determine todayโs่กๆ is still US employment data.
If Non-Farm Payrolls give the market more room for rate cuts, $87K will become the key level again.
SEC Officially Approves 3x Leveraged Bitcoin and Ethereum ETPs!
๐จ Major news! The SEC has officially approved 3x leveraged Bitcoin and Ethereum ETPs! Wall Streetโs ultimate โbombโ has landedโhow should everyday people respond? Many retail investors thought that the earlier spot ETFs were the end point of being legalized. But the signal the SEC released today completely overturns the boundary between traditional finance and the crypto marketโdirectly approving the listing of 3x Leveraged BTC and ETH ETPs (exchange-traded products)! This is no longer just small-scale. This is the first time the U.S. regulator has put a high-leverage engine on crypto assets on a legitimate securities exchange (Nasdaq/NYSE).
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โ๏ธ Lawsuit Against OCC ๐น The ICBA has sued the U.S. OCC over national trust charters granted to crypto companies. ๐น Community banks argue crypto firms receive bank-like credibility without the same requirements as traditional banks.
๐ฐ Whatโs at Stake ๐น Trust charters allow firms to manage customer assets and process transactions, but not take regular deposits or issue loans. ๐น The OCC says its rules only clarify existing chartering powers.
๐ Growing Crypto Interest ๐น The OCC received 40 bank-charter applications in about 18 months, including 23 tied to digital assets. ๐น The lawsuit could influence how crypto firms access the U.S. banking system and affect future stablecoin regulation.
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Those with a risk-taking mindset might consider a short entry at 119.26 with a tight 1% margin, provided the 119.59 level holds. Alternatively, a breakout at 118.59 would confirm a major or definitive short position.
If the price breaks above the 119.59 level, conservative traders could consider entering new long positions. Mark my wordsโSOL is set for a sharp decline; the market is currently controlled by major players, and the trend is our best friend.