Bitcoin (BTC) has broken above the $120,000 mark for the first time since mid-August, driven by substantial inflows into Bitcoin ETFs and a bullish sentiment surrounding the cryptocurrency market. This surge is attributed to a combination of factors, including expectations of Federal Reserve interest rate cuts and the historical strength of October for Bitcoin, often referred to as "Uptober." The price reached $120,286, marking an 8% increase over the past week. On October 1, Bitcoin ETFs recorded their highest single-day inflows since mid-September, attracting approximately $675.8 million. BlackRock's iShares Bitcoin Trust led this influx with $405 million, signaling strong institutional interest and confidence in Bitcoin's upward trajectory.
This development highlights the growing acceptance of Bitcoin as a mainstream investment vehicle.
Institutional interest in Bitcoin is further underscored by the record open interest in BTC futures, which has reached an all-time high of $32.6 billion. This indicates a strong conviction among traders that Bitcoin will continue to rise. Additionally, the CME Group announced plans to launch 24/7 trading for its cryptocurrency futures and options by early 2026, responding to increasing demand for continuous trading opportunities. Meanwhile, the total value of Bitcoin held in ETFs has surged to $155.89 billion, representing 6.66% of Bitcoin's market capitalization.
The robust inflows and the anticipated launch of new ETFs could significantly influence market dynamics, potentially leading to further price appreciation as institutional investors seek exposure to Bitcoin.
As Bitcoin climbs, altcoins are also experiencing significant gains. For instance, Dogecoin (DOGE) has seen a nearly 3% increase, while XRP has surged above $3.00, confirming a short-term floor near $2.99. The broader crypto market capitalization has expanded to approximately $4.18 trillion, reflecting a bullish sentiment across various digital assets. Additionally, Zcash (ZEC) has exploded in price, doubling in value over the past week as demand for privacy coins rises amid the market rally.
This trend indicates that investors are diversifying their portfolios, seeking both established cryptocurrencies and emerging opportunities within the market.
The current market dynamics suggest a continuation of the bullish trend as Bitcoin and altcoins gain momentum. Analysts are optimistic about the potential for Bitcoin to reach new all-time highs, especially if it can maintain its position above $120,000. The upcoming decisions on ETF applications and macroeconomic factors, such as interest rate adjustments, will be critical in shaping market sentiment. Overall, the combination of strong institutional support, record ETF inflows, and positive macroeconomic indicators positions the cryptocurrency market for a potentially explosive end to 2025, with Bitcoin possibly targeting levels as high as $200,000 if current trends continue.
BTCC has launched a referral campaign worth 178,500 USDT in partnership with NBA superstar JJJ. This campaign was announced on October 2, 2025.
Canaan has secured a 50,000-rig Bitcoin mining deal, marking its largest agreement in over three years. This development indicates a renewed appetite for Bitcoin mining in the U.S., as stated by the company's CEO.
Bitcoin has recently shown remarkable price action, briefly surpassing $121,000 during early trading hours, marking a significant rally amid a broader bullish sentiment in the crypto market. This surge comes despite the ongoing U.S. government shutdown, which historically has not hindered the performance of digital assets. Ethereum also saw gains, approaching $4,400, while BNB reached an all-time high of over $1,000, reflecting a robust uptick in investor confidence across the sector.
Solana joined the rally, climbing above $224, contributing to the overall market capitalization, which now stands at approximately $4.18 trillion.
Meme coins are experiencing a resurgence, with Dogecoin leading the charge after a 9% overnight gain, bringing its market valuation to approximately $38 billion. Analysts are optimistic about Dogecoin's potential to reach a price target of $1.56, driven by bullish market sentiment and technical indicators suggesting a new upward wave. The overall market for meme coins has bounced back to an $81 billion valuation, indicating strong investor interest in this segment as the crypto community embraces the "Uptober" narrative.
BNB has seen a notable increase of over 3.5% as expectations of a Federal Reserve rate cut have fueled a rally past key resistance levels. The token's rise from a low of $1,017.44 to above $1,050 reflects a broader market movement, with traders reacting to a weak ADP report indicating job losses. Additionally, BNB Chain's recent reduction of its minimum gas fee to 0.05 Gwei has made it one of the most cost-effective networks, further enhancing its appeal among users and investors.
The introduction of Ripple's RLUSD, a U.S. dollar-backed stablecoin, is expected to inject $1.8 million into the market, potentially signaling a bullish phase for XRP. This development follows the approval of the GENIUS Act, which has provided a regulatory framework for stablecoins, further enhancing Ripple's position in the crypto landscape. As XRP has already demonstrated significant price movements, the influx of RLUSD could catalyze further gains, positioning XRP as a key player in the upcoming market cycle.
Hyperliquid continues to command approximately 62% of the perpetual decentralized exchange (perp DEX) open interest market, despite a significant drop in its trading volume share from 45% to 8% in recent weeks. This metric indicates a strong liquidity position, as open interest reflects the total number of outstanding contracts, which is often considered a more stable measure of market health compared to trading volume.
The DoubleZero Foundation has launched its mainnet-beta, designed to improve communication efficiency among blockchain validators. By utilizing dedicated fiber routes instead of the public internet, DoubleZero aims to reduce lag and enhance transaction processing speed. Currently, 22% of staked SOL is integrated into the DoubleZero network, indicating early adoption and potential for increased performance in blockchain operations.
Mantle has launched a Tokenization-as-a-Service platform aimed at facilitating the integration of real-world assets (RWAs) into blockchain ecosystems. This platform includes compliance services such as KYC tools and smart contract deployment, which are essential for ensuring regulatory adherence in traditional finance. The initiative is part of a broader strategy to capture a share of the projected $26 billion RWA market, which is expected to grow significantly by 2030.
Stellar's XLM experienced a 4% increase in price, supported by a surge in trading volumes that more than doubled the daily average. This activity established a support level at $0.40 and resistance near $0.41, indicating a potential consolidation phase. The heightened trading volumes during the breakout, particularly with spikes reaching 90.15 million, reflect robust market engagement and bullish sentiment.
Ethereum is preparing for a significant upgrade, the Fusaka upgrade, which will increase its gas limit threefold. This change is expected to enhance transaction throughput and reduce congestion, potentially improving user experience and lowering fees for network participants.
Avalanche Treasury Co. is set to merge with Mountain Lake Acquisition Corp. in a $675 million deal, which includes a strategic partnership with the Avalanche Foundation for a $200 million initial purchase of AVAX at a discount. This initiative aims to accumulate $1 billion in AVAX to support ecosystem growth through investments and partnerships.
New York State Senator Liz Krueger has introduced a bill aimed at taxing crypto mining operations based on their electricity consumption. The proposed tiered excise tax could charge miners up to 5 cents per kilowatt-hour (kWh), with exemptions for those using renewable energy. Mining firms consuming less than 2.25 million kWh annually would be exempt, while those consuming between 2.26 and 5 million kWh would pay 2 cents per kWh, escalating to 5 cents for those exceeding 20 million kWh. This bill follows a two-year moratorium on non-renewable-powered mining that ended in 2024, highlighting the state's focus on energy consumption in the crypto sector.
Nomura Holdings is seeking to enhance its presence in Japan's digital asset market through its subsidiary, Laser Digital Holdings, which is in pre-consultation talks with Japan's Financial Services Agency for a trading license. This move comes as Japan's crypto trading market has seen a significant increase, with transaction values doubling to approximately ¥33.7 trillion (around $230 billion) in the first seven months of 2025. The anticipated regulatory changes, including tax cuts and new rules for crypto-focused funds, are expected to further boost market participation.
Members of the Sweden Democrats have filed a motion urging the government to explore the creation of a national Bitcoin reserve. The proposal, submitted on October 1, 2025, seeks to investigate the feasibility of establishing a strategic reserve and the appropriate authority to manage it. This initiative aligns with similar efforts in other nations to secure Bitcoin reserves as a potential response to shifts in the global financial infrastructure.
The European Central Bank (ECB) has announced agreements with seven entities to develop components for the digital euro, with a potential launch date set for 2029. This initiative reflects the ECB's ongoing efforts to explore central bank digital currencies (CBDCs) as part of its strategy to modernize the financial system and enhance payment efficiency across the Eurozone.
Bitcoin's price surged above $120,000, continuing a bullish trend that began in September and is characterized by a historical pattern known as "Uptober." This increase occurred despite the US government shutdown, which has furloughed over 90% of SEC staff and left the CFTC operating with minimal personnel. Analysts note that Bitcoin's resilience is indicative of its structural strength, as the market adapts to seasonal patterns and liquidity improvements typically seen in Q4.
A dispute over a $1.4 million loss has gripped Crypto Twitter after a trader claimed to have been scammed in an over-the-counter (OTC) deal. The controversy began when trader 0x_Leo_ shared the incident in a post on X (Twitter), lamenting, “…just got scammed for 1.4mil on an OTC deal. They transferred money out to KuCoin.” On-chain data shows the transfer of 1.40 million USDC (≈ $1.399 million) on Ethereum from an unspecified address.
A former Singapore Armed Forces diver stole $1.7 million in USDT after photographing the victim’s seed phrase in their bedroom. Teo Rong Xuan, 34, admitted to charges including housebreaking and dealing with ill-gotten gains in court on October 1. He spent the stolen funds on luxury watches, gambling, and mortgage payments.
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