Markets
Bitcoin trades near $85,307, up 0.9% on the week, after briefly reaching $87,000 when a softer-than-expected September jobs report (29,000 jobs added, unemployment at 4.2%) pushed bond yields lower. Ether sits around $2,701, up 0.4%, lagging bitcoin as dominance climbed toward 59.0%. Total crypto market capitalisation stands at $2.91T. Early gains reversed once yields stopped falling further, leaving bitcoin trapped in its familiar $82,000-$86,000 range for much of the week. Open interest rose $2.3B as traders paid up for bullish positions, and short liquidations topped $120M when bitcoin reached for $87,000. The Fear & Greed Index reads 68, in Greed territory.
Movers
Top gainers, 7 days
QNT▲ 40.2%
PUMP▲ 34.1%
SKY▲ 25.2%
Top losers, 7 days
ZEC▼ 15.7%
M▼ 14.6%
ENA▼ 13.7%
Top 50 coins by market cap, stablecoins excluded.
Quant (QNT) led gainers, up 40.2% on the week, followed by Pump.fun (PUMP) at +34.1% and Sky (SKY) at +25.2%. Zcash (ZEC) was the biggest loser, down 15.7% after pulling back 21% from a recent high even as Bitget hack proceeds flowed into its privacy pool, while MemeCore (M) fell 14.6% and Ethena (ENA) dropped 13.7%.
ETFs & institutional
US spot bitcoin ETFs opened October with a $134M inflow as 'Uptober' began, followed by a further $103M, extending a run that included a nine-day, $3B September streak and took Q3 inflows to $6.3B as bitcoin rose nearly 43% over the quarter. Evernorth shareholders approved a $1B XRP treasury deal, clearing the path to a Nasdaq listing backed by a 473M XRP holding. BNY is in talks with Kraken parent Payward over an infrastructure partnership, while BlackRock outlined how tokenization could reshape investment portfolios.
Regulation & policy
The Clarity Act remains stalled in Congress, though the SEC has pressed ahead with a proposed framework letting investment advisers and funds self-custody crypto. A banking group sued to block what it called crypto's 'side door' into the banking system via OCC trust charters, while the UK's FCA opened its crypto authorisation window ahead of the 2027 regime. The EU's MiCA review continues, with Circle pushing back on a bank-deposit mandate for stablecoins.
Stablecoins
Stablecoin market capitalisation stands at $285.3B, led by USDT at $184.0B and USDC at $74.1B. Tether's USDT is reported to be returning to the Bitcoin blockchain this month, over a decade after its debut there, while European issuer AllUnity launched a new USD stablecoin, USDAU.
What we’re watching
With no major scheduled data this week, attention turns to whether bitcoin ETF inflows extend their recent run and to progress on the EU's MiCA stablecoin review. Fallout from the NEAR Intents and Bitget hacks, including fund tracing through Zcash's privacy pool, also remains in focus.
For information only. Not investment advice, an offer or a solicitation to buy or sell any asset. Prices are approximate as of the date above.