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🇨🇳 October 6 | Crypto Market Brief
$BNB 🧧
📊 BTC’s third attempt at $87K gets pushed back again

BTC is currently around $85.6–86.0K, after touching near $87K again yesterday before pulling back; ETH is around $2.71K, and SOL around $120.5.

BTC has faced selling pressure near $87K for the third time in a row, but the lows are gradually rising. The market is waiting for a decisive move. Total crypto market capitalization is around $2.93T.

🔴 ETF flows cool again

On October 5, U.S. spot BTC ETFs saw net outflows of around $89.9M, ending two consecutive days of net inflows. ETH ETFs saw net outflows of around $51M, marking their fifth consecutive day in the red.

SOL ETFs saw around −$9.3M, and ZEC ETFs around −$3.6M.

Institutional funds haven’t disappeared, but they have clearly slowed down in the short term.

🏦 Companies continue buying BTC and ETH

In its latest disclosure, Strategy said it had bought another 334 BTC, bringing its holdings to around 848,000 BTC.

Meanwhile, Strive bought around 2,000 BTC, while BitMine added around 15,112 ETH.

Prices are moving sideways, but corporate treasuries are still steadily absorbing spot supply.

🔥 HYPE faces a major unlock today

Hyperliquid is releasing 3.75M HYPE today, worth around $340M and representing about 1.69% of the circulating supply.

However, these tokens are not being sold directly on the open market. The team is selling them over the counter to a single institutional buyer, so the actual short-term selling pressure may be lower than the headline figure suggests.

🌡️ Another conflicting macro signal

The U.S. September ISM Services PMI fell to 54.9, indicating that the economy is still expanding; however, Prices Paid rose to 74, its highest level since July 2022.

The economy hasn’t clearly lost steam, but price pressures are heating up again. This is also an important reason why Treasury yields and the U.S. dollar continue to weigh on BTC.

⛓️ Ethereum: Glamsterdam enters a critical testing phase

Ethereum is testing the Glamsterdam upgrade on the Sepolia testnet today.

This is an important test ahead of the mainnet upgrade, but it is not a mainnet launch. An official date has not yet been set.

📊 Market Snapshot

BTC ≈ $85.6–86.0K
ETH ≈ $2.71K
SOL ≈ $120.5
BTC Dominance ≈ 58%
Fear & Greed ≈ 73
Market Cap ≈ $2.93T

🎯 Today’s market is actually pretty simple:

$85K is holding, $87K hasn’t been broken, ETF flows are cooling, but corporate treasuries are still buying.

There’s resistance above, and buyers are stepping in below.

What BTC needs most right now isn’t a story,

but a decisive move that holds above $87K.

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