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## Crypto Daily Digest: BTC ETF net inflow exceeded $300 million, Bitcoin seasonal record shows bullish outlook in October
According to Farside Investor data, the US <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> spot ETFs had a net inflow of $364.71 million yesterday. BlackRock IBIT had a net inflow of $92 million, Ark ARKB had a net inflow of $113 million, and Fidelity FBTC had a net inflow of $74 million.

Yesterday, the US <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> spot ETFs had a net inflow of $43 million, including $9 million from BlackRock ETHA and $26 million from Grayscale Mini ETH.

**If Bitcoin breaks through $67,000, the mainstream CEX's accumulated short clearing strength will reach 1.36 billion**

According to Coinglass data, if Bitcoin breaks through $67,000, the mainstream CEX's accumulated short clearing strength will reach 1.36 billion. On the contrary, if Bitcoin falls below $62,000, the cumulative liquidation strength of mainstream CEX orders will reach 2.078 billion.

The liquidation chart does not display the exact number of contracts to be liquidated or the precise value of contracts to be liquidated. The columns on the clearing chart actually show the importance, i.e. strength, of each clearing cluster relative to its neighboring clearing clusters.

**Top trader Eugene: Bitcoin seasonal record shows bullish outlook in October**

Top trader Eugene Ng Ah Sio posted on social media that seasonality is often an important factor in determining animal spirits.

As the end of September approaches, since the BTC’s birth, the market has never experienced a situation where September rises and October closes down. In the previous 11 years, BTC only closed down twice in October, unrelated to the price trend in September. This data point itself has no meaning, but if enough people interpret it as a buy signal, self fulfilling prophecies will quickly spread.

**Federal Reserve Governor Cook: Supports the Fed's 50 basis point interest rate cut last week, confident in maintaining a robust labor market**

In his prepared speech at Ohio State University on Wednesday, Federal Reserve Governor Cook expressed "wholehearted" support for the Fed's 50 basis point rate cut last week, citing a slowdown in the labor market and easing inflation. “This decision reflects our increasing confidence that as long as we adjust our policy stance appropriately, we can maintain a robust labor market against the backdrop of moderate economic growth and sustained inflation falling to our goals.”

Cook's speech mainly focused on artificial intelligence and its significance for American workers. She said that this technology has the potential to provide a "huge and sustained" driving force for the growth of labor productivity. Although artificial intelligence may eliminate jobs, it may also create new ones.

## Market Trends: BTC broke through the $65,000 mark, with SHIB leading the mainstream meme coin up
### Mainstream Coins
Ton Chain's leading “click-to-earn” game Hamster Kombat token HMSTR has been launched on the trading platform, with a current price of $0.007 and a circulating market cap of approximately $420 million, lower than market expectations. The current circulating market cap of DOGS, which is also a Ton track game project, is approximately $450 million.

The on-chain meme market is doing well, with <a href="/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a>'s internet celebrity Hippo meme coin Moodeng rising over a thousand times in the past two weeks, with a circulating market cap of approximately $190 million as of the time of publication. Other memes on the Solana chain, such as Presto and Omochi, have also seen impressive gains, stimulating market demand for SOL and driving the rise of other memes projects in the Solana chain ecosystem, such as POPCAT and WIF.

The Meme sector led the market with gains, while SHIB, BONK, PEPE, BRETT, and others made up for the gains. Compared to previous rounds of market trends where the meme sector rose earlier than the overall market, the lagging rise of these veteran meme coins in this round may indicate a short-term frenzy in the market. The meme coin NEIROCTO, which led the gains earlier, rose and then fell back, making a short-term correction inevitable.

### Market Hotspots
BTC broke through the $65,000 mark, BTC ETFs saw large inflows of funds, and the market is stable and improving;

ETH's performance is sluggish, with almost no upward trend. The strong rise of the market has not attracted enough funds to ETH, and the ETH ETF's performance is sluggish;

Altcoins generally rose, with SHIB, PEPE, BONK and others experiencing a surge of over 20%.

## Macroeconomics: The three major US stock indices collectively closed higher, with foreign investors increasing their purchases of Chinese assets
The three major indexes of the US stock market collectively closed higher, with the S&P 500 index rising 0.40% to 5,745.37 points; The Dow Jones Industrial Average rose 0.62% to 42,175.11 points; The Nasdaq index rose 0.60% to 18,190.29 points. The benchmark 10-year Treasury yield is 3.79%, while the 2-year Treasury yield, which is most sensitive to the Federal Reserve policy rate, is 3.60%.

Trending Chinese concept stocks surged across the board, with the Nasdaq China Golden Dragon Index rising 10.85%, the largest daily increase since 2022. Alibaba, Pinduoduo, and JD.com all rose over 10%, with Fangduoduo rising nearly 110%, Gaotu Group rising over 27%, TAL Education Group rising over 23%, Beike rising over 20%, Xiaopeng Motors rising over 10%, Ideal Motors rising over 6%, and NIO rising over 2%.

### Conclusion
In the coming weeks, the <a href="/price" target="_blank" class="blog_inner_link">crypto market</a> may continue to be driven by inflows of Bitcoin ETF funds, and prices may challenge higher resistance levels. If Bitcoin successfully breaks through $67,000, market sentiment may further heat up, attracting more investors to participate. However, if there is a price correction, liquidation pressure may lead to drastic fluctuations in the short term.

In terms of macroeconomics, the Federal Reserve's policy adjustments will continue to affect market sentiment, especially investment decisions on risky assets. Investors should closely monitor economic data and the future policy direction of the Federal Reserve to assess their potential impact on the crypto market.

Finally, as the market's attention to meme coins increases, related projects may attract more capital inflows, driving the activity of the entire crypto ecosystem. Investors should monitor these trends and allocate assets reasonably to cope with possible market fluctuations.



<div class="blog-details-info">
<div>Author:**Icing**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>


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BTC ETFs had a positive inflow of over $300 million_ SHIB led mainstream meme coin gains_ HMSTR has been launched on Gate.io.

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Daily News | BTC Broke Through $65,000 Mark, Well-established Meme Coins Generally Rose