Overview

• Spot Bitcoin ETFs drew roughly $2.25 billion in net inflows this week, the strongest since mid-September, according to SoSoValue.
• Bitcoin is hovering near key levels flagged by analysts, with resistance around $123,300 and support near $117,200, and a potential retest of the prior record near $124,474.
• Corporate buyers continued to add to reserves, as Metaplanet purchased 5,268 BTC to reach 30,823 BTC and MicroStrategy added 196 BTC for a total of about 640,031 BTC.
• Private payrolls from ADP showed a 32,000 job loss in September, bolstering expectations for easier policy, with CME FedWatch putting the probability of a 25 bp cut on October 29 above 97%.
• A partial U.S. government shutdown risked delaying the official jobs report, focusing attention on private data, while broader crypto prices edged higher with Ethereum near $4,500 and select altcoins up 2% to 4%.