Last Week’s Crypto Market News Roundup
1. BTC surges above $87,000 then pulls back: On October 2, BTC briefly touched around $872,000, before retreating; weaker-than-expected U.S. employment data lowered U.S. Treasury yields, providing support for risk assets, but resistance near the $87,000 level remains evident.
2. Bitcoin ETF inflows continue: U.S. spot Bitcoin ETFs recorded roughly $2.7 billion in monthly net inflows at the end of September, signaling a clear rebound in institutional demand; the previous week also saw about $2.4 billion in net inflows.
3. SEC proposes easing institutional crypto custody limits: The SEC put forward a new framework for crypto asset custody that, under certain conditions, allows investment advisers and funds to self-custody, and permits state-level trust companies to act as custodians. This further clarifies a compliant path for institutions to directly hold assets such as BTC.
4. Tether brings USDT back to the Bitcoin network: Tether-supported Utexo enables USDT to re-enter the Bitcoin ecosystem via technologies such as RGB, supporting private transfers, exchanging BTC and USDT, and BTC-collateralized borrowing.
5. Blast announces shutdown of its Ethereum L2 network: Blast, which at one point held more than $2 billion in assets, announced it will stop operations and asked users to migrate their assets, reflecting that the current L2 space is entering a phase of elimination under pressure from users, revenue, and costs.
1. BTC surges above $87,000 then pulls back: On October 2, BTC briefly touched around $872,000, before retreating; weaker-than-expected U.S. employment data lowered U.S. Treasury yields, providing support for risk assets, but resistance near the $87,000 level remains evident.
2. Bitcoin ETF inflows continue: U.S. spot Bitcoin ETFs recorded roughly $2.7 billion in monthly net inflows at the end of September, signaling a clear rebound in institutional demand; the previous week also saw about $2.4 billion in net inflows.
3. SEC proposes easing institutional crypto custody limits: The SEC put forward a new framework for crypto asset custody that, under certain conditions, allows investment advisers and funds to self-custody, and permits state-level trust companies to act as custodians. This further clarifies a compliant path for institutions to directly hold assets such as BTC.
4. Tether brings USDT back to the Bitcoin network: Tether-supported Utexo enables USDT to re-enter the Bitcoin ecosystem via technologies such as RGB, supporting private transfers, exchanging BTC and USDT, and BTC-collateralized borrowing.
5. Blast announces shutdown of its Ethereum L2 network: Blast, which at one point held more than $2 billion in assets, announced it will stop operations and asked users to migrate their assets, reflecting that the current L2 space is entering a phase of elimination under pressure from users, revenue, and costs.