Overview

• Bitcoin slipped about 2% from this week’s record near $126,000 to trade around $120,000–$122,000, with the pullback knocking major altcoins down as much as 7%.
• U.S. spot Bitcoin ETFs drew $1.19 billion of inflows on Oct. 6 led by BlackRock’s IBIT at $967 million, followed by $23.81 million of outflows on Oct. 7, and have accumulated over $60 billion since January 2024.
• Exchange-held supply has fallen to roughly 2.83 million BTC, with about 170,000 withdrawn in the past month, and CryptoQuant reports the Fund Flow Ratio at its lowest since July 2023.
• Spot gold climbed above $4,000 an ounce to a record, reflecting investor interest in traditional havens during a volatile macro backdrop.
• Economist Timothy Peterson’s simulations suggest a 50% chance Bitcoin finishes October above $140,000 and a 43% chance it closes below $136,000, underscoring a wide range of near-term outcomes.