News
The day at a glance · 3 min read
Mood · Risk-Off
-65
Sentiment, −100 to +100
Bitcoin Price
$83,000
US Government BTC Transfer
$770M
Bitcoin ETF Outflows
$485M
Key driverRising oil prices, Treasury yields, and dollar strength pressure crypto assets as Bitcoin falls below $83,000
Daily briefCrypto & Web3· Money365.Market AI ·

Bitcoin Slips Below $83K Amid Macro Headwinds

US transfers $770M BTC to Coinbase Prime as ETF outflows hit $485M; ESMA orders stablecoin compliance crackdown

Bitcoin & Ethereum

Bearish

Bitcoin Monthly Inflows

$5B
COIN
Bitcoin slipped below $83,000 as rising oil prices, Treasury yields, and dollar strength pressured risk assets. Bitcoin monthly realized cap inflows neared $5B in the 30 days through October 5, though Glassnode data showed the increase came mostly from existing holders rather than fresh capital.
The US government transferred 9,261 Bitcoin valued at $770M to Coinbase ($COIN) Prime, including 2,456 BTC in newly discovered funds pointing to federal law enforcement seizures. The transfer to Coinbase Prime custody represents institutional infrastructure for seized digital assets.
US Bitcoin ETFs shed $485M in the largest daily outflow since June, erasing October's net inflows, while Ether funds logged a seventh consecutive outflow session. The ETF withdrawals coincided with broader crypto market weakness driven by macro factors.

Altcoin Activity

Neutral

Zcash Decline

30%-30%

Winklevoss ETF Interest

$100M

NEAR 30-Day Surge

140%+140%

NEAR Intents Volume

$31B
Zcash declined nearly 30% from its September peak as the broader crypto market selloff extended, though the move lacked Zcash-specific negative catalysts. Winklevoss Asset Services filed an S-1 on October 6 for a proposed spot Zcash ETF that would hold ZEC directly, with Winklevoss Capital indicating non-binding interest in purchasing up to $100 million of shares.
Zcash's NU7 network upgrade went live on public testnet this week, reducing target block times from 75 seconds to 25 seconds and introducing a Network Sustainability Mechanism. Developers are targeting November 5 for mainnet activation, with a final activation decision expected on October 20.
NEAR Protocol entered the top 20 cryptocurrencies by market capitalization following a 140% surge in 30 days. NEAR Intents surpassed $31 billion in cumulative transaction volume, supporting the token's climb into the top-tier rankings.

Regulation & Policy

Neutral

ESMA Compliance Window

3 months

Greece Crypto Tax Rate

10%
The European Securities and Markets Authority (ESMA) urged EU crypto firms to halt services involving non-MiCA-compliant stablecoins, giving firms 3 months to address existing exposures. The directive represents enforcement of the Markets in Crypto-Assets regulation's stablecoin provisions.
Greece is preparing draft legislation to impose a 10% capital gains tax on cryptocurrencies as it moves toward the country's first digital asset taxation framework. The proposed tax structure would establish formal treatment of crypto gains for Greek taxpayers.

Institutional Developments

Bullish

Samsung Galaxy Users

82 million

Citi Payment Network

$6T
COIN
Standard Chartered plans to expand institutional crypto custody services to Singapore, covering cryptocurrencies, stablecoins, and tokenized assets for institutional and eligible corporate clients. The expansion follows the bank's existing digital asset custody operations in other jurisdictions.
Samsung integrated USDC into Samsung Wallet for cross-border remittances, targeting 82 million Galaxy users. Eligible US Galaxy users will be able to send USDC to crypto wallets and transfer funds to bank accounts in more than 60 countries starting in October.
Citibank ($C) connected its $6 trillion payment network to stablecoin rails through an expanded collaboration with Coinbase ($COIN) announced September 28. The mechanism runs through Coinbase Virtual Accounts powered by Citi's Virtual Account Wallet, bridging traditional fiat and digital asset infrastructure for corporate and consumer clients.

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