U.S. spot Bitcoin ETFs recorded a remarkable $1.19 billion in net inflows on October 6, marking the highest single-day total since July. This surge in demand coincided with Bitcoin trading near its all-time high of $126,000, reflecting renewed institutional confidence in the cryptocurrency market. BlackRock's iShares Bitcoin Trust (IBIT) led the charge, capturing $970 million of the total inflows, pushing its assets under management close to $100 billion.
Analysts note that this influx is indicative of a broader trend where institutional investors are increasingly viewing Bitcoin as a legitimate asset class, bridging traditional finance and digital assets.
Bitcoin's price has recently dipped to around $122,000, down 2.4% after reaching record highs earlier in the week. This pullback has been accompanied by significant whale activity, with reports indicating that short-term holders (STH) are sitting on approximately $10.1 billion in unrealized profits, raising concerns about potential profit-taking. Additionally, a notable $5.7 billion was observed moving from STH wallets into exchanges, suggesting that some holders may be looking to cash out. This selling pressure could impact market sentiment, especially as Bitcoin's price struggles to maintain its upward momentum amidst macroeconomic uncertainties.
The recent activity in Bitcoin ETFs and whale movements underscores a significant shift in market dynamics, with institutional investors now playing a pivotal role. The inflows into Bitcoin ETFs have reached over $70 billion since January 2025, reflecting a sustained interest from institutional players. As Bitcoin continues to capture investor interest, the broader crypto market capitalization has soared to $4.35 trillion. This growth is not only driven by Bitcoin but also by increasing institutional adoption of altcoins, as seen with Ethereum and other cryptocurrencies, indicating a maturing market landscape.
IREN (IREN) shares continued to rally after announcing new multi-year AI cloud service contracts with leading AI companies for NVIDIA Blackwell GPU deployments. The company remains on track to surpass $500 million in annualized run-rate revenue (ARR) by the end of Q1 2026 from 23,000 GPUs in operation or on order. Contracts covering 11,000 GPUs have already been signed, representing around $225 million in ARR expected to come online by the end of 2025. With average two-year contract terms and revenue payback periods, IREN is scaling across its British Columbia campuses and Horizon 1 and 2 data centers in Texas, which together can host over 100,000 GPUs supported by 2,910 MW of secured power capacity.
IREN, Co-Founder Daniel Roberts said, “Our ability to rapidly transition from ASICs to GPUs across our British Columbia campuses, and the speed at which we’re building Horizon 1 & 2, demonstrates how IREN is uniquely positioned to meet accelerating demand for AI compute." Miners Continue Surge The AI and high-performance computing (HPC) rally continued in early U.S. trading, with Bitfarms (BITF) up 12% after gaining 15% on Monday, while Hive Digital (HIVE) climbs another 10% following a 25% surge in the previous session.
Polymarket received a $2 billion investment from Intercontinental Exchange, owner of the New York Stock Exchange. The deal gave Polymarket a post-deal valuation of $9 billion, the prediction market startup said. Polymarket CEO Shayne Coplan said on Tuesday that the prediction-market platform will receive up to a $2 billion investment from Intercontinental Exchange, or ICE, linking the startup with the owner of the 233-year-old New York Stock Exchange. On X, Coplan said the deal gives Polymarket a post-money valuation of $9 billion, while a partnership with ICE will allow for the distribution of Polymarket’s data to “thousands of financial institutions around the world.”
Haun Ventures and Bain Capital Crypto co-led the new funding, with participation from Pantera Capital, Apollo and other investors. Backed by Bain Capital Crypto and Haun Ventures, Meanwhile aims to grow Bitcoin-based savings, annuities, and life insurance amid rising demand.
Developed with Dinari, the index requires minimum market caps of $100 million for equities and $300 million for cryptocurrencies.
European defence satellite group weighs new funding at $2.5bn valuation.
BNB has experienced a significant surge, with its price rising 27% over the past week, reaching an all-time high of $1,330. This rally has been bolstered by institutional interest, notably from CEA Industries, which disclosed it holds 480,000 BNB valued at over $600 million. Following this announcement, CEA's shares rose by 8%. BNB has now surpassed Tether, becoming the third-largest cryptocurrency by market capitalization, which currently stands at approximately $181 billion, reflecting a 28% increase in just a week.
Analysts are questioning the sustainability of this rally, given the overbought technical indicators present in the market.
CleanCore has significantly increased its Dogecoin (DOGE) holdings, now possessing over 710 million DOGE, valued at approximately $182 million. This addition has resulted in more than $20 million in unrealized gains for the firm, as DOGE's price has surged by 12% recently. The company is on track to reach its goal of accumulating 1 billion DOGE. Meanwhile, DOGE's trading volume has exploded, surpassing $4 billion in 24-hour trading, indicating a strong resurgence in interest for this meme coin.
Bitcoin recently reached a new all-time high of $126,080 but has since pulled back to around $121,200, reflecting a 3% decline. Despite this cooling, analysts remain optimistic about Bitcoin's trajectory, citing a robust support trendline. The potential for Bitcoin to break above $140,000 remains, contingent on overcoming resistance levels. Additionally, the SEC's ongoing efforts to formalize an "innovation exemption" could further bolster the crypto market, encouraging institutional participation and innovation within the sector.
Solana validators recently approved the Alpenglow upgrade, a significant technical enhancement aimed at reducing block times from 12 seconds to just 150 milliseconds. This upgrade positions Solana closer to real-time transaction speeds, which could facilitate greater adoption and usage in various applications, particularly as institutional interest in tokenization grows. With a current total value locked of $14.7 billion in stablecoins and tokenized assets, this upgrade could further solidify Solana's standing in the competitive DeFi landscape.
Cardano is experiencing increased institutional interest, highlighted by Hashdex's decision to add ADA to its Nasdaq Crypto Index U.S. ETF. This move is expected to enhance Cardano's credibility in traditional finance and improve liquidity. Additionally, the Cardano Foundation is launching a series of initiatives aimed at accelerating ecosystem growth, including a $10 million real-world asset project and a substantial increase in marketing spend by 12%.
These developments suggest a robust roadmap for Cardano's future, potentially leading to significant network participation and staking opportunities.
Matter Labs has launched the Atlas upgrade for its ZK Stack, which is designed to enhance throughput significantly and reduce finality times for a network of customizable blockchains. This upgrade introduces a new high-performance sequencer capable of processing over 15,000 transactions per second, which could greatly improve the efficiency and scalability of applications built on the Zksync platform. Such advancements are crucial for addressing the growing demand for faster and more efficient blockchain solutions.
Kazakhstan's financial authorities have intensified their crackdown on unlicensed crypto platforms, shutting down 130 operations suspected of facilitating money laundering. This enforcement action resulted in the confiscation of digital assets valued at $16.7 million. Additionally, financial monitors uncovered 81 underground cash-out networks that processed over $43 million, indicating a significant effort to combat illicit financial activities within the crypto sector.
In Singapore, the Monetary Authority of Singapore (MAS) clarified that the recent appearance of A7A5, a stablecoin backed by a sanctioned Russian bank, at the Token2049 conference did not violate local laws. The MAS stated that its sanctions apply only to licensed financial institutions, while non-financial entities are only obligated to comply with UN-mandated sanctions, which currently do not target Russia. This highlights the limitations of Singapore's sanctions regime and raises questions about the regulatory landscape for crypto events involving sanctioned entities.
The AFL-CIO, a major U.S. labor union, has expressed concerns regarding the Senate's proposed crypto framework bill, describing it as offering only a "facade of regulation." The union warns that the bill could expose workers' retirement funds to high-risk assets, indicating a need for more robust safeguards to protect investors and workers in the evolving crypto landscape.
The German government has decided to block the European Union's proposed "Chat Control" regulation, which aimed to enhance surveillance measures. This decision, influenced by public protests and advocacy from digital rights groups, effectively halts the planned vote on the measure, demonstrating the impact of civic engagement on regulatory processes within the EU.
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