Uptober Forming Amid Rising Stablecoin Liquidity and Bitcoin Transactions
The latest developments in the crypto markets are covered in CoinDesk's daily newsletter, First Mover. The newsletter reports on the formation of an "Uptober" trend due to increasing stablecoin liquidity and Bitcoin transactions. Ether ETFs experienced significant outflows in September, while Bitcoin broke the $64K mark and gold prices rose. The ETH/BTC ratio hit its lowest point since April 2021, leading some to question whether Bitcoin's bullish momentum is waning. The CoinDesk 20 Index currently stands at 2,140.40, down 0.60%.
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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