🗓️ October 4｜Crypto Daily
The weekend market saw a mild rebound, but total market cap is still contracting: BTC is steady, while ETH and SOL are slightly stronger—nothing close to a full-scale bullish reversal.
As of 09:01 Beijing time:
BTC $84,770, 24h +0.16%
ETH $2,692.69, 24h +0.65%
SOL $120.15, 24h +1.06%
Total market cap is about $2.90 trillion, down 2.20% over 24h; 24h trading volume is about $45.7 billion. BTC’s market share is 58.6%. Funds are still holding onto BTC, and altcoins as a whole haven’t broken out into independent momentum. Price data is from CoinGecko, cross-checked with market terminals.
What’s truly worth watching today:
1) The latest complete trading day for the U.S. spot BTC ETFs is Oct 1. Total net inflows are about $102.7 million. Don’t call weekend data that didn’t trade “today’s inflows.” On Sep 30, there was a net outflow of $148.7 million, suggesting institutional funds are still there, but the pace has started to flip around.
2) U.S. employment data for September came in below expectations. Market bets that the Fed will keep rates unchanged in October rose to about 83.9%. This gave risk assets a breather, but U.S. Treasury yields later rebounded—liquidity dynamics haven’t fully turned favorable yet.
3) On Sep 24, Bitget suffered an attack of about $387 million. The preliminary investigation points to a zero-day vulnerability in a third-party security device, with North Korean hackers listed as the main suspect. It’s claimed that cold wallets and private keys were not affected, but this incident once again reminds everyone: exchange security can’t rely solely on “proof of reserves.”
4) In mid-September, the U.S. Senate blocked progress on the crypto market structure bill. The regulatory framework remains stuck in political bargaining. In the short term, it’s not a blow to sentiment, but it will prolong institutions’ compliance-related capital in a wait-and-see mode.
Next, watch three time points:
• Oct 5: U.S. Services PMI/ISM—first assess economic resilience
• Oct 7: Fed September meeting minutes—focus on disagreement over rate hikes
• Oct 8: U.S. Initial Jobless Claims and Michigan Consumer Confidence initial reading
My take: this is a sideways structure where “macros provide some relief expectations,” but the crypto space itself lacks enough incremental demand. If BTC holds near $84,000, there’s room for ETH and SOL to keep catching up; but if BTC breaks down, this altcoin bounce would be fragile.
Trading strategy: don’t chase the small green candles from the weekend. Wait for key levels to confirm before adding; reduce leverage for futures and scale in spot orders.
Risk warning: The above is for market observation only and does not constitute investment advice. Crypto assets are highly volatile—please manage position size and protect your private keys.
The weekend market saw a mild rebound, but total market cap is still contracting: BTC is steady, while ETH and SOL are slightly stronger—nothing close to a full-scale bullish reversal.
As of 09:01 Beijing time:
BTC $84,770, 24h +0.16%
ETH $2,692.69, 24h +0.65%
SOL $120.15, 24h +1.06%
Total market cap is about $2.90 trillion, down 2.20% over 24h; 24h trading volume is about $45.7 billion. BTC’s market share is 58.6%. Funds are still holding onto BTC, and altcoins as a whole haven’t broken out into independent momentum. Price data is from CoinGecko, cross-checked with market terminals.
What’s truly worth watching today:
1) The latest complete trading day for the U.S. spot BTC ETFs is Oct 1. Total net inflows are about $102.7 million. Don’t call weekend data that didn’t trade “today’s inflows.” On Sep 30, there was a net outflow of $148.7 million, suggesting institutional funds are still there, but the pace has started to flip around.
2) U.S. employment data for September came in below expectations. Market bets that the Fed will keep rates unchanged in October rose to about 83.9%. This gave risk assets a breather, but U.S. Treasury yields later rebounded—liquidity dynamics haven’t fully turned favorable yet.
3) On Sep 24, Bitget suffered an attack of about $387 million. The preliminary investigation points to a zero-day vulnerability in a third-party security device, with North Korean hackers listed as the main suspect. It’s claimed that cold wallets and private keys were not affected, but this incident once again reminds everyone: exchange security can’t rely solely on “proof of reserves.”
4) In mid-September, the U.S. Senate blocked progress on the crypto market structure bill. The regulatory framework remains stuck in political bargaining. In the short term, it’s not a blow to sentiment, but it will prolong institutions’ compliance-related capital in a wait-and-see mode.
Next, watch three time points:
• Oct 5: U.S. Services PMI/ISM—first assess economic resilience
• Oct 7: Fed September meeting minutes—focus on disagreement over rate hikes
• Oct 8: U.S. Initial Jobless Claims and Michigan Consumer Confidence initial reading
My take: this is a sideways structure where “macros provide some relief expectations,” but the crypto space itself lacks enough incremental demand. If BTC holds near $84,000, there’s room for ETH and SOL to keep catching up; but if BTC breaks down, this altcoin bounce would be fragile.
Trading strategy: don’t chase the small green candles from the weekend. Wait for key levels to confirm before adding; reduce leverage for futures and scale in spot orders.
Risk warning: The above is for market observation only and does not constitute investment advice. Crypto assets are highly volatile—please manage position size and protect your private keys.