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>>Bitcoin is potentially driving a cryptocurrency market surge this October, boosted by unprecedented investment into funds and increased stablecoin deposits.

Bitcoin is potentially driving a cryptocurrency market surge this October, boosted by unprecedented investment into funds and increased stablecoin deposits.

crypthub

about 10 hours ago

October Crypto Rally

The crypto market is experiencing a rally, fueled by record-breaking inflows and increased buying power. Global crypto funds logged $5.95 billion in net inflows, with Bitcoin leading the way at $3.55 billion, followed by Ethereum at $1.48 billion. Large stablecoin deposits, exceeding $1.1 billion, further boosted buying power on Binance.

Investor Activity and Accumulation

Significant capital is flowing into Bitcoin, outperforming Ethereum during this period. A noteworthy $500 million in Bitcoin has been transferred to private wallets, indicating a shift towards longer-term holding and reduced exchange supply. This activity suggests an accumulation phase and potential price appreciation.

Key Metrics to Watch

Investors should closely monitor key indicators for sustained momentum. Tracking weekly fund flow reports, observing stablecoin deposits, and analyzing exchange reserves will be crucial. These factors provide insight into institutional demand, buying power, and overall market dynamics.