“Uptober” in Full Swing: Unpacking the $121B Crypto Surge, Bitcoin ETF Potential, and Ledger’s Latest Feature

Written by BTSE

October 25, 2023

“Uptober” in Full Swing: Unpacking the $121B Crypto Surge, Bitcoin ETF Potential, and Ledger's Latest Feature

Based on data from CoinGecko, the total transaction volume for the crypto market on October 24 reached US$121.506 billion, marking an impressive single-day surge of roughly 41.53% from October 23’s US$85.849 billion. With such momentum, “Uptober” could hold further surprises for traders. Stay tuned to news and price updates!

 

What to Watch Out for Today

 

1. Galaxy Digital’s Bitcoin ETF Projections: Galaxy Digital forecasts a 74.1% surge in Bitcoin’s price after the U.S. launches Bitcoin ETFs. Dive deeper and you’ll find the prediction is grounded on the trajectory of gold ETFs. What’s making waves? The estimates suggest Bitcoin could breach the $59,000 mark. But, always factor in potential delays or denials. What’s the takeaway? Investors, gear up for potential bullish runs but always be prepared for market dynamics and regulatory shifts. Long Bitcoin?

 

2. Global Bitcoin Fund Inflows Surge: Publicly traded crypto funds just got a $61 million boost, predominantly channeled into Bitcoin. The key players? Germany and Canada, who are already aboard the Bitcoin ETF train. Why is this crucial? The U.S. is still awaiting its golden ticket to spot Bitcoin ETFs. Stay tuned as the SEC reviews major applications. What should you do? If you’re mapping investment trajectories, keep an eye on the evolving ETF landscape. Anticipation is the name of the game. Long BTC funds?

 

3. Ledger’s Contentious Recovery Service: Ledger drops its latest feature, “Ledger Recover”, and it’s ruffling some feathers. The service offers an alternative recovery option but it’s also a potential lightning rod for government intervention. What’s the chatter? Critics warn of potential government access, while others flag security concerns. Ledger’s stance? It’s all secure and purely optional. What should you do? For crypto security enthusiasts, this is one to watch. Evaluate risks and keep your keys close. 

 

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Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.

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