Crypto Today: Bitcoin Hits New High, Market Pullback, EU Eyes Oversight
1. Bitcoin Breaks Record, Then Softens
Bitcoin briefly topped $125,000, setting a new high.
In the next 24 hours, it retraced ~1.2%, trading near $123,745.
The rise is being attributed to strong ETF inflows (≈ $3.25B last week) and macro uncertainty pulling money into perceived safe havens.
2. Broad Market Pullback
Despite Bitcoin’s strength, most altcoins are under pressure.
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BTC is down ~1.1% to $123,375
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ETH fell ~1.2%, hovering around $4,535
Overall market cap is down ~0.9%, with only a few top 100 cryptos in the green.
3. EU Eyes Unified Oversight
The European Securities and Markets Authority (ESMA) plans to take greater supervisory control over crypto firms, stock exchanges, and clearing houses across the EU. The idea: reduce fragmentation, enforce consistent rules.
Some smaller states (Malta, Luxembourg) are pushing back — they fear loss of autonomy.
4. Grayscale Adds Staking to Spot ETPs
Grayscale launched new staking features for Ethereum and Solana in its U.S. spot ETPs—the first of their kind in the U.S. context.
This move brings more utility (and yield potential) into what’s often considered passive exposure.
Takeaway
Today shows how volatile strength can be. Bitcoin’s record is impressive, but retracements remind us markets don’t climb in straight lines. The weakening of altcoins suggests capital concentration in BTC for now. Meanwhile, regulation is catching up — deeper EU oversight may shift dynamics for exchanges and firms operating cross-border.
Sources
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MarketWatch – “Bitcoin hits new high above $125,000” MarketWatch
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Investors.com – “Bitcoin hits record above $125,000” Investors
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Economic Times – “Bitcoin dips after hitting record $125K” The Economic Times
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Financial Times – “EU watchdog prepares to expand oversight of crypto” Financial Times
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CryptoNews – “Why is crypto down today (Oct 6)” Cryptonews
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Invezz – “Grayscale launches staking spot crypto ETPs in US” Invezz
