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BTC’s value soared by $5K in a matter of hours, SHIB was predicted to launch a bull run, while PEPE hit a new ATH.
QCP Capital expects the bitcoin price to return to $74,000 after the latest CPI print saw risk assets surge.
BTC price action has its doubters after swiftly jumping to new May highs, but some see Bitcoin continuing upward momentum into price discovery.
The Chicago Mercantile Exchange (CME) Group is considering launching bitcoin spot trading, according to a report.Discussions have been ongoing with traders, though the plan for spot trading rollout has not been finalized.
Spot Bitcoin exchange-traded fund inflows have surged to a two-week high as the underlying asset pumped 7% on key US inflation data.
The U.S. state of Wisconsin has recently revealed that it invested in a Bitcoin exchange-traded fund leading to speculation that other states could follow.
- 05:29BlackRock's Ethereum ETF holdings have surpassed 440,000 ETH as of this weekAccording to official data, as of this week (October 25), the holdings of BlackRock's spot Ethereum exchange-traded fund have exceeded 440,000 ETH, reaching 440,525.0685 ETH, with a position market value of $1,090,061,660.87.
- 05:28Analysis: Sei EVM has added over 800,000 new users in the past 30 days, an increase of 34%According to on-chain data analyst Hess, who shared the data on X, Sei Network has attracted nearly 808,000 new users in just EVM aspect over the past 30 days, an increase of 34% in new user numbers. In addition, since the launch of Sei EVM, a total of 1.7 million unique addresses have made at least one transaction.
- 05:25QCP: This week, BTC retested the local high of $69,500 since July but failed to break through. It seems to be forming a consolidation patternQCP pointed out in its market analysis that the cryptocurrency market was relatively volatile this week. BTC retested the local high of $69,500 since July but failed to break through, eventually giving back gains and finding support at the $65,000 level. It now seems to be forming a consolidation pattern. This week's net inflow into BTC ETF reached $997.7 million, marking the third consecutive week of net inflows, indicating strong institutional demand. Bitcoin's dominance continued to rise this week, reaching a high point of 59.75%. Conversely, ETH/BTC broke below its key support level of 0.03850 and fell by 5.85% to a new low of 0.03625. Analysts believe that as Bitcoin approaches its all-time highs, the trend towards increased Bitcoin dominance may continue in the short term. Reports about alleged US government investigations into Tether caused USDT to briefly fall to a low point of 0.9965 before rebounding above 0.9980.Tether CEO Paolo Ardoino has so far denied these allegations; whether they are true remains to be seen as this is not Tether’s first time under such strict scrutiny.In Middle East tensions continue escalating due Israel retaliating against missile attacks earlier this month. On Friday,the Israeli retaliation and negative news related with USDT brought some selling pressure on markets.The Dow Jones Industrial Average (DJIA) and S&P500 index fell by respectively .61%and .03%. Cryptocurrencies subsequently dropped with BTC momentarily falling down to $65500 before bouncing back above $67000. As we approach end of this week focus now shifts onto non-farm employment data set for release next Friday which will provide further insights for Federal Reserve's next move.Currently there is a probability rate at95.%for November interest rates cut by25 basis points.Market does not expect any surprises.
