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The Wire — B.R.O.

Bitcoin Rockets to $118.5K as Shorts Squeezed & U.S. Shutdown Spurs Rate-Cut Bets

Your daily access to the backroom

,   and  Blockhead
3 min read

Key Takeaways

  • 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.

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