Uptober forming with rising stablecoin liquidity and Bitcoin transactions
CoinDesk's daily newsletter, First Mover, featured an article discussing the current state of the crypto market. The article highlighted the formation of "Uptober" due to increased stablecoin liquidity and Bitcoin transactions. Ether ETFs experienced significant outflows, while Bitcoin broke the $64K mark and gold prices soared. The ETH/BTC ratio reached its lowest point since April 2021, leading to questions about Bitcoin's bullish momentum. The CoinDesk 20 Index closed at 1,997.20, down 0.53%.
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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