1. đ¨ On-Chain Data Movements & Whale Alerts (Whales in Action)
âETF inflows kick off âUptoberâ: Bitcoin ETFs just recorded inflows of $103 million. This is an early signal of accumulation for October.
â$XRP Liquidity surge: XRP trading volume unexpectedly jumped to $7.4 billion. On-chain data points to a large-scale âshort squeezeâ sweeping through short positions on the CME as the main cause.
âInstitutional capital continues to expand: South Africaâs Absa Bank has officially launched Bitcoin custody services for institutional clients. Traditional banks providing custody infrastructure could pave the way for major TradFi funds to invest in the market with confidence.
â2. đ° Macroeconomic & Market News Affecting Price Trends
âBitcoin swings sharply on jobs data: $BTC surged close to $87,000 after the U.S. released a weak Nonfarm Payrolls report, showing just 29,000 jobs added in September, while also revising Julyâs data downward. The price is now temporarily stabilizing around $85,200. Total crypto market capitalization remains at $2.9 trillion, with BTC dominance at 58.98%.
âThe collapse of Layer-2 Blast: Ethereum L2 network Blast, which once reached $2 billion in TVL, announced it will shut down because operating costs far exceed revenue. The announcement is triggering a wave of outflows and asset migration to competing Layer-2 networks.
âUpdate on the $387 million Bitget hack: Bitget has reopened withdrawals following the security incident. Analytics firm Chainalysis confirmed that the stolen funds are directly linked to North Korean hacker groups.