Oct 1: Bitcoin Holds $84K

Bitcoin remains around $84,000 even as the 10-year Treasury yield pushes above 5.3%, its highest level since 2002. August PCE inflation came in cooler than expected, while Bitcoin ETFs recorded roughly $139 million in net outflows. Citi nevertheless raised its 12-month Bitcoin target from $82,000 to $113,000 and its Ethereum target from $2,240 to $3,028. The Treasury's expanded long-duration bond buyback program is also feeding a larger debate about debt management, liquidity and the growing role stablecoin issuers could play as buyers of short-term government debt.

European regulators are scrutinizing Binance's operations under MiCA, while the Swiss National Bank is warning that large-scale stablecoin adoption could weaken traditional monetary-policy transmission. The prediction-market regulatory fight is also intensifying in Washington, MetaMask is precautionarily exiting affected Ethereum validators following misdirected block rewards, and DogeOS is developing an EVM-compatible environment that could expand Dogecoin into smart contracts, DeFi and other applications. Bitcoin itself remains stuck in the same basic structure, with $80K to $82K as the key floor and $87K as the next major level to reclaim.

Happy HODLing

Hosted on Acast. See acast.com/privacy for more information.