Global #Bitcoin

U.S. spot Bitcoin exchange-traded funds (ETFs) faced a notable setback on Wednesday, witnessing outflows totaling $91.76 million. This decline marks the continuation of a negative trend, with two consecutive days of net outflows that raise concerns among investors about market sentiment.

Argentina's Vice President, Victoria Villarruel, recently met with El Salvador's President, Nayib Bukele, during his visit to Buenos Aires, where the focus was largely on Bitcoin (BTC) and its implications for both nations.

As October dawned, analysts and investors were filled with optimism, expecting a repeat of the historical bullish trend known as “Uptober.” However, this optimism was quickly overshadowed by shocking market movements, leading some observers to dub the month “Rektober.”

In a surprising turn of events, Whale Alert, a platform dedicated to tracking blockchain transactions, reported that a dormant Bitcoin address holding 41 BTC—valued at over $2.6 million—has become active after nearly 11 years of inactivity.

Bitcoin (BTC) saw a brief rebound, rising above $61,500 in Asian morning trading on Wednesday, after a sharp decline that brought it down to as low as $60,300 late Tuesday.

Recent reports indicate that the depreciation of the U.S. dollar, coupled with strategic actions from major central banks like Japan and China, may signal a potential reversal of the economic downturn experienced in 2022 and 2023.