Uptober forming as stablecoin liquidity and Bitcoin transactions rise
The latest developments in the crypto markets are covered in CoinDesk's daily newsletter, First Mover. The current trends include a rise in stablecoin liquidity and Bitcoin transactions leading to the formation of "Uptober," while Ether ETFs have seen their biggest outflows since July. Bitcoin has broken the $64K mark, while gold prices have also surged. The ETH/BTC ratio has dropped to its lowest point since April 2021, leading some to question whether Bitcoin is losing its bullish momentum. The CoinDesk 20 Index currently stands at 2,055.12, a decrease of 1.52%.
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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