Bitcoin Surpasses $119,000
According to Darkex data, BTC climbed to $119,015 with a 1.35% increase during the day, rising above the psychological threshold once again. Market momentum appears to be strong.
US Treasury Secretary Bessent: Fed Chair Interviews Progressing
Treasury Secretary Bessent announced that more than half of the interviews for the next Fed chair have been completed, with the first round set to conclude next week. Three to five strong candidates are expected to be recommended to Trump.
Donald Trump Jr.: Trump Not Interested in Stablecoins
Trump Jr. stated that his father has no interest in stablecoins or blockchain ledger transactions. He said that WLFI ventures are not related to profiting from the Trump administration and operate on a completely independent business model.
Metaplanet Q3 Results
Japanese Bitcoin treasury Metaplanet reported third-quarter revenue of 6.8 billion yen (+100%) and operating profit of 4.7 billion yen (+88%). BTC revenue reached 2.438 billion yen, an increase of 115.7% compared to the second quarter of this year.
Stablecoin Duopoly Weakening
Castle Island Ventures partner Nic Carter noted that USDT and USDC’s combined market share fell from 91.6% to 84%. The reason is the rise of interest-bearing stablecoins and new competitors entering the market. Ethena’s USDe, in particular, became the year’s biggest launch with a supply reaching $14.7 billion.
JPMorgan: Bitcoin Target $165,000
JPMorgan, which manages $3.6 trillion in AUM, announced that Bitcoin is still undervalued compared to gold. Bank analysts predict that BTC’s price could reach $165,000.
Proposal for a National Bitcoin Reserve in Sweden
Two members of parliament affiliated with the Sweden Democrats party submitted a proposal to parliament to add Bitcoin to national reserves as “digital gold.” The proposal aims to diversify the country’s foreign exchange and gold reserves and protect against potential disruptions in the global financial infrastructure.
BlackRock IBIT ETF Records Strong Inflows
BlackRock’s spot Bitcoin ETF reached $90.7 billion in AUM and entered the ranks of the world’s 20 largest ETFs. The net inflow on October 1 was $405.5 million, the largest daily inflow in recent months. All spot Bitcoin ETFs recorded a total inflow of $676 million.
Petra Vault Launch from Aptos Labs
Aptos Labs announced Petra Vault, a new multi-sig solution focused on enterprise security. The solution is compatible with existing vaults such as MSafe, provides risk control through transaction simulation, and offers distributed signature options via Ledger/Google/Apple accounts.
Tether’s New Stablecoin Plan: USAT
According to Bloomberg, Tether plans to launch a new stablecoin called USAT on the Rumble platform to expand its US market. This move is part of Tether’s strategy to gain direct access to its US user base.
China Emphasizes Digital Currency Ecosystem
An article in the Chinese press stated that the digital RMB and on-chain payment infrastructure will contribute to the diversification of the global monetary system. China aims for a multilateral cooperation and “win-win” based digital currency ecosystem.
Ethereum and Bitcoin ETF Flows
- Bitcoin ETFs: Recorded a total inflow of $676 million on October 1. BlackRock IBIT led with $405 million.
Ethereum ETFs: Saw a total inflow of $80.79 million on the same day. Fidelity’s FETH saw $36.7 million, while BlackRock’s ETHA saw $26.1 million.
