Yesterday’s Crypto Market News Roundup
1. BTC Breaks $87,000, Risk Appetite Rises. On October 2, Bitcoin briefly surged past $87,000, reaching the highest level in about a month; as of intraday trading, it was around $86,700. ETH was near $2,670. After BTC broke above $85,000, sell-side pressure above the breakout level reportedly eased noticeably.
2. US September Employment Data Falls Far Below Expectations, Rate-Cut Odds Rebound. September’s nonfarm payrolls added only 29,000 jobs, while the unemployment rate rose to 4.2%. Market expectations for an October rate hike cooled significantly, and Bitcoin subsequently held around $86,000.
3. US Spot BTC ETFs See Net Inflows of About $2.65 Billion in September. Data from The Block shows that US spot Bitcoin ETFs recorded approximately $2.65 billion in net inflows in September— the second-highest monthly inflow since October 2025—indicating that institutional demand remains active.
4. US Community Bankers Group Sues the OCC, Challenging a Contested Crypto Trust-Bank License. Independent Community Bankers of America filed a lawsuit against the US Office of the Comptroller of the Currency, arguing that the OCC granted trust-bank charters to crypto companies beyond its statutory authority. Regulatory competition between crypto financial institutions and traditional banks is thus escalating further.
5. Ethereum L2 Blast Announces Shutdown, Cutting a Former ~$2 Billion Network Asset Base by About 98%. Blast said continuing operations no longer makes economic sense because operating costs exceed revenue. Current TVL is about $32 million. Users need to withdraw assets through the official interface by October 26.
1. BTC Breaks $87,000, Risk Appetite Rises. On October 2, Bitcoin briefly surged past $87,000, reaching the highest level in about a month; as of intraday trading, it was around $86,700. ETH was near $2,670. After BTC broke above $85,000, sell-side pressure above the breakout level reportedly eased noticeably.
2. US September Employment Data Falls Far Below Expectations, Rate-Cut Odds Rebound. September’s nonfarm payrolls added only 29,000 jobs, while the unemployment rate rose to 4.2%. Market expectations for an October rate hike cooled significantly, and Bitcoin subsequently held around $86,000.
3. US Spot BTC ETFs See Net Inflows of About $2.65 Billion in September. Data from The Block shows that US spot Bitcoin ETFs recorded approximately $2.65 billion in net inflows in September— the second-highest monthly inflow since October 2025—indicating that institutional demand remains active.
4. US Community Bankers Group Sues the OCC, Challenging a Contested Crypto Trust-Bank License. Independent Community Bankers of America filed a lawsuit against the US Office of the Comptroller of the Currency, arguing that the OCC granted trust-bank charters to crypto companies beyond its statutory authority. Regulatory competition between crypto financial institutions and traditional banks is thus escalating further.
5. Ethereum L2 Blast Announces Shutdown, Cutting a Former ~$2 Billion Network Asset Base by About 98%. Blast said continuing operations no longer makes economic sense because operating costs exceed revenue. Current TVL is about $32 million. Users need to withdraw assets through the official interface by October 26.