Regulation· ★★★★★· bullish·

Bitcoin Taps $87K as SEC Proposes Direct Crypto Custody for Advisors

  • —Bitcoin peaked at $87,219 before retreating to $85,188, up about 1% on the day
  • —$142 million in BTC shorts were liquidated versus $29 million in longs over 24 hours
  • —September nonfarm payrolls rose just 29,000 versus 90,000 expected; unemployment hit 4.2%
  • —SEC opened a 60-day public comment period on the new custody proposal
Why it matters: The SEC proposal opens the door to institutional participation without Congress, while weak jobs data strengthens the case for Fed rate cuts.
#BTC
Source: Bitcoin.com
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