Bitcoin Enters October Facing Four Pressures: Liquidity, ETFs, Iran and Mt. Gox
- —Stablecoin market cap has lost $14 billion since May, recovering only $4 billion to about $270 billion
- —Bitcoin ETF inflows totaled $51.25 million from September 28 to October 1, down from $2.39 billion the prior week
- —Wallets moving $1 million+ in stablecoins to Binance lifted 30-day inflows to $30.5 billion from $21.7 billion
- —Mt. Gox wallets hold 34,387.51 BTC worth $2.88 billion, with repayments due by October 31
Why it matters: Weak capital inflows and the Mt. Gox deadline could cap BTC upside despite October's historically strong seasonality.
Source: BeInCrypto