Bitcoin surged to $118,500, fueled by $204 million in liquidations (mostly shorts). Market cap climbed to $2.33 trillion with daily active addresses reaching 869,000.
Ethereum rallied 5.5% to $4,337, with $57.4 billion futures OI and bullish options positioning.
Spot ETF inflows supported majors: BTC +$270 million, ETH +$55 million on October 1.
The U.S. shutdown commenced while ADP private payrolls fell by 32,000, marking the worst decline since March 2023.
Altcoin sentiment is strengthening as Google search interest for “altcoins” spikes.
Geopolitical risks from Venezuela to Greenland are fading into the background as investors refocus on US data and Fed rate cuts, but turbulence in crypto markets shows risk appetite remains fragile.
The next phase of Bitcoin’s evolution is not about leverage or yield chasing, but about using BTC as credible collateral, security, and economic infrastructure.
