Overview

• Bitcoin climbed to nearly $124,000 on Friday, its highest since August, while Ethereum held above $4,500 as the week’s advance extended.
• U.S. spot funds logged another strong session on Oct. 2 with $627 million into Bitcoin ETFs and $307 million into Ethereum ETFs, capping four straight days of net inflows.
• Derivatives activity intensified with taker buy volume outpacing sells by about $1.8 billion since the monthly open, and roughly $380–$401 million in leveraged positions liquidated over 24 hours, largely shorts.
• Forecasts were lifted as JPMorgan set a $165,000 year-end target for Bitcoin and Standard Chartered flagged a near-term move toward $135,000, citing persistent ETF-driven demand.
• Macro tailwinds include elevated odds of an October Fed rate cut and a softer dollar, while on-chain and exchange data point to robust U.S. buying even as overbought signals keep near-term volatility risks high.