Global #crypto market

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.”

Japan is currently navigating a challenging economic landscape marked by rising prices and subdued consumer spending. In response, Prime Minister Shigeru Ishiba is proposing a strategy centered on increasing wages to stimulate economic activity.

South Korea's Financial Services Commission (FSC) has approved the establishment of the Digital Asset Protection Foundation, a nonprofit organization aimed at safeguarding crypto assets and blockchain belongings.

Despite a 2021 ban on cryptocurrency trading, China's over-the-counter (OTC) crypto market continues to flourish. A new report from Chainalysis reveals that these platforms have seen significant inflows of $20 billion per quarter on average through June, totaling $75.4 billion for the nine months.

Shiba Inu (SHIB) is poised for a potential parabolic rally this October, following historical trends that suggest monthly positive returns. According to CryptoRank, the meme coin has consistently performed well in October, notably surging by 833% during the 2021 bull run.

In a significant development, cryptocurrency exchange Bybit has announced its exit from the French market due to regulatory pressures from the Autorité des Marchés Financiers (AMF).