Evening Brief: Bitcoin Balances Macro Wobbles with Explosive Institutional Momentum
Fed cuts, ETF inflows, and strategic reserves: Is Bitcoin entering its most explosive phase yet?
I am on travel again so this was created a bit earlier than normal so I will miss some of the latest news coming out this evening…
💬 Quote of the Day
"All the capital in the world is gonna flow into the Bitcoin network." – Michael Saylor
🟠 Bitcoin Prices & Market Mood
Bitcoin traded around $113K, briefly dipping as U.S. job revisions rattled macro sentiment. Traders trimmed risk positions, though structural targets still point toward $120K in the near term. Analysts warn of heightened volatility reminiscent of summer 2023, but some see the Fed’s potential rate cuts as the catalyst for a renewed push higher.
📈 Bitcoin Analysis
Bitcoin’s correlation with gold is driving bullish projections. With gold at record highs, analysts at Tephra Digital and BeInCrypto suggest BTC could rally to the $167K–$185K range, with others calling for $150K or higher by year-end.
⚡ Adoption & Corporate Treasuries
Adoption is surging across both traditional finance and corporate balance sheets:
Cantor Fitzgerald unveiled a Bitcoin fund with gold insurance.
Altvest Capital (South Africa) to raise $210M for BTC purchases.
HashKey (Hong Kong) to launch a $500M digital asset treasury fund.
Metaplanet (Japan) upsized its raise to $1.4B, signaling more BTC buys.
Tether’s CEO rebutted rumors, confirming BTC holdings are rising.
SharpLink announced a $1.5B stock buyback linked to its Ethereum treasury.
Meanwhile, CleanCore Solutions spiked 38% after a $68M Dogecoin purchase.
🌐 Altcoins & Stablecoins
Solana (SOL) hit a 7-month high, though on-chain traction dipped.
Dogecoin (DOGE) climbed to $0.23 on whale accumulation but faces resistance.
A former Standard Chartered exec argued stablecoins must offer yield to stay competitive.
📊 ETFs & Institutional Products
Bitcoin ETFs saw $368M in inflows this week, the strongest since August. A DOGE ETF is set to begin U.S. trading Thursday, and Cboe will roll out continuous futures for BTC and ETH in November.
🏦 Exchanges & Infrastructure
Nasdaq will invest $50M into Gemini, bolstering exchange confidence.
Cboe expands derivatives access with new futures contracts.
🏛 Regulation & Politics
The SEC will host a public crypto roundtable on Oct 17.
A new U.S. appropriations bill directs the Treasury to study a Strategic Bitcoin Reserve.
Patrick Witt, the White House’s new crypto adviser, confirmed the reserve is now a top policy priority.
🗣 Voices Driving the Narrative
Michael Saylor: Bitcoin to $150K by Christmas; by 2028, every American with assets will own Bitcoin.
Larry Fink: Bitcoin could hit $700K.
Tom Lee: BTC will reach $200K by year-end.
Eric Trump: “Bitcoin is the greatest asset of our time.”
Julian Assange: Bitcoin can resist the “full might of a superpower.”
Jack Dorsey: Bitcoin must be used in everyday payments, not just as a store of value.
Eric Peters: Middle East sovereigns preparing to reveal large BTC reserves.
🚨 The Bad
A major NPM supply chain attack on crypto was contained, with “almost no victims.”
Germany failed to seize $5.6B in Bitcoin tied to the Movie2K piracy site.
❓ Question of the Day
If the U.S. follows through with a Strategic Bitcoin Reserve, do you think it will spark a global wave of sovereign Bitcoin accumulation?
WHAT TO WATCH
LISTEN TO THIS!