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.
The uptake follows a launch pitched to Bitget's 125 million users as institutional-grade yield without leaving the exchange, where USDC depositors can earn up to 18% APY and BTC holders around 3%.
Tokyo and Washington's first joint currency intervention in 15 years is designed to do the one thing that would remove the entire premise behind Metaplanet's bitcoin treasury.
Spot HYPE funds led every non-bitcoin crypto ETF category by inflows relative to assets in May and June. JPMorgan says that lead disappeared in July and hasn't come back
