Uptober Forming Amid Rising Stablecoin Liquidity and Bitcoin Transactions
CoinDesk's daily newsletter, First Mover, featured an article on the current state of crypto markets. The article highlights the formation of "Uptober" due to increasing stablecoin liquidity and Bitcoin transactions. Ether ETFs experienced significant outflows, while Bitcoin broke the $64K mark and gold prices soared. The ETH/BTC ratio hit its lowest point since April 2021, leading to speculation on whether Bitcoin is losing its bullish momentum. The CoinDesk 20 Index saw a decrease of 1.73%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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