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Uptober on the Horizon as Stablecoin Liquidity and Bitcoin Transactions Rise

Uptober on the Horizon as Stablecoin Liquidity and Bitcoin Transactions Rise

CointimeCointime2024/11/01 12:33
By:Cointime

The CoinDesk daily newsletter, First Mover, featured an article discussing the current state of the crypto market. The article highlights the formation of "Uptober" due to increased stablecoin liquidity and Bitcoin transactions. Ether ETFs experienced significant outflows, while Bitcoin broke the $64K mark and gold prices soared. The ETH/BTC ratio dropped to its lowest point since April 2021, leading to questions about Bitcoin's bullish momentum. The CoinDesk 20 Index saw a decrease of 3.66%.

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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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