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Wintermute said crypto is losing support from capital flows, while equities remain backed by earnings expectations. Last week, BTC fell 3.2% and ETH dropped 7.0%, with U.S. spot BTC and ETH ETFs recording $679M and $542M in net outflows, respectively. BTC ETF outflows were the largest weekly total since late June.
Wintermute said a sustained recovery requires long-term Treasury yields to stabilize and spot ETF flows to turn positive. Until then, BTC remains vulnerable to volatility and downside risks, while low-quality altcoin rallies should be approached cautiously. The firm remains constructive long term but would turn more cautious if the U.S. 30-year Treasury yield exceeds 5.64% or BTC repeatedly fails to break above $82,500.

Statistics compiled by the WuBlockchain team:
https://data.wublockchain.xyz/dashboard/exchange_volume
In September 2026, spot trading volume across major exchanges totaled about $696.7 billion, up approximately 36.5% from $510.4 billion in August 2026. The sample covers 14 exchanges, of which 14 rose and 0 fell month over month.
By notional volume, the top three were Binance $307.8 billion (44.2% share), OKX $65.8 billion (9.5% share), Coinbase $61.3 billion (8.8% share). On concentration, the largest venue held about 44.2%, while the top three combined for about 62.4%, down from 64.8% in August.
Note: The data may involve significant wash-trading or bot activity. Figures have been preprocessed, including outlier removal, calibration, and standardization.
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K33 Research reported that U.S. government-linked wallets transferred approximately 17,733 BTC to Coinbase Prime in early October, including 12,267 BTC tied to the Bitfinex hack. Labeled government holdings fell from 324,527 BTC to 306,795 BTC. Including suspected but unlabeled government wallets, total transfers may have reached 21,500 BTC.
K33 said most transfers likely involved custody arrangements rather than sales, as Coinbase Prime serves as custodian for the U.S. Marshals Service and the Bitfinex assets remain subject to a claims process. However, roughly 1,200 BTC linked to the FTX and HashFlare cases could potentially be sold to fund cash compensation for victims.

According to SoSoValue, U.S. Bitcoin spot ETFs logged a total net outflow of $65.40 million on October 12 (EDT), led by BlackRock's IBIT with a net outflow of $65.40 million. Meanwhile, Ethereum spot ETFs recorded a total net outflow of $85.39 million yesterday, extending their net outflow streak to 10 consecutive days.

Vitalik Buterin: Public-Key Cryptography May Still Need One or Two More Rounds of Parameter Upgrades
Ethereum co-founder Vitalik Buterin said in an October 9 interview with Balaji Srinivasan at the Network State Conference 2026 that he believes public-key cryptography will continue, but may still need one or two more rounds of upgrades, including further increases in key parameters. Vitalik compared the process to going through a few more "Y2K-like" upgrade moments. He added that cybersecurity is facing a similar situation: while there are still obstacles to navigate, he remains optimistic about where things will ultimately end up.

Bloomberg Strategist: Bitcoin Has Become a "Stock-Market Puppet"
Bloomberg Intelligence Senior Commodity Strategist Mike McGlone said in an October 1 interview with Wealthion that Bitcoin's high correlation with U.S. equities, combined with its greater volatility, has made it increasingly look like a "stock-market puppet." He noted that Bitcoin is down about 4% this year while the S&P 500 is up around 3%, and that Bitcoin has also lagged the stock market for nearly five years. McGlone added that he still stands by his view that Bitcoin could fall to $10,000 and sees no reason yet to abandon that call. He also said the broader crypto market remains in the process of a "purge."

South Korea's Financial Intelligence Unit (FIU) announced that the country's communications review authority has ordered domestic access restrictions on 27 unregistered overseas cryptocurrency exchange websites, including KuCoin, MEXC, Phemex, XT com, Bitrue, CoinW, Poloniex, BTCC, BingX and BitMart, according to Etoday.
The decision, made following reviews on October 6–7, expands existing restrictions on app downloads and updates to exchange websites. The FIU has referred 44 unregistered virtual asset service providers to investigative authorities and plans to seek additional blocks on alternative domains used to circumvent the restrictions. Authorities said they would also provide withdrawal guidance to affected users through DAXA.

According to SolanaFloor, an attendee filed a police report with the Singapore Police stating that organizers operating under the names “Apex Accelerator” and “Stone Venture” promoted a crypto security event called “Don’t Get Played” during TOKEN2049 week. They allegedly pressured attendees to install software that gave the organizers remote control of their computers.

NFT marketplace Blur announced it will shut down its frontend on November 12, 2026, while its onchain marketplace protocol will remain operational and BLUR will continue to control the protocol's fee switch. Its NFT lending protocol, Blend, will stop matching new loans on the same date. Borrowers have until then to repay their loans or allow them to default. Blur will subsequently provide a frontend tool for users to withdraw their assets from Blend. Following the announcement, BLUR plunged to a low of 0.01410 USDT before recovering to 0.01523 USDT, down 16.55% over 24 hours, per Binance data. Blur raised $11 million in a seed funding round in March 2022, with investors including Paradigm, eGirl Capital, and 0xMaki.

BitMine said it acquired 12,532 ETH over the past week, bringing total holdings to 6,028,946 ETH, or about 4.9% of Ethereum’s 122.1 million supply. The company said it is 99% of the way toward its 5% accumulation target, with 5.07 million ETH currently staked. In its forward-looking disclosures, BitMine also noted management’s statement that the company is “largely finished buying ETH,” suggesting future purchases may slow as it approaches the target.

Strategy said it acquired 250 BTC for $21.5 million at an average price of $86,194 between October 5 and 11, bringing total holdings to 848,250 BTC at an aggregate cost of about $64.0 billion. The company also repurchased 1.93 million STRC shares for $192.4 million over the same period. The bitcoin purchase was funded mainly with $21.0 million in proceeds from MSTR share sales, while USD cash stood at $640.5 million and the USD Reserve at $4.88 billion as of October 11.

According to The Block, Morgan Stanley now expects to support tokenized equities on its alternative trading system in Q1 2027, later than its previous H2 2026 timeline, digital asset strategy head Amy Oldenburg said. She said the bank is still preparing the required infrastructure, while client demand remains limited because tokenized equity products are not yet widely available. Oldenburg also said she expects the tokenized RWA market to reach $3 trillion to $10 trillion by 2030.

Singapore Gulf Bank said it has expanded USD payment access through BNY’s 24/7 USD Book Transfers service, allowing eligible payments to settle outside standard U.S. banking hours, including weekends and public holidays. The service can be used for account funding, payables and time-sensitive cross-border treasury transactions.

Editor | Wu Blockchain
Verified as of October 10, 2026 (ET) | Coverage period: October 12–18, 2026 (ET)
The key events to watch this week:
Monday, October 12, 8:30 p.m. and 8:45 p.m. ET | Broadcom and NVIDIA Keynotes at OCP
Broadcom and NVIDIA will discuss open AI networking and AI factory infrastructure, with subsequent sessions covering optical interconnects, 800 VDC power and liquid cooling. Watch for compatibility standards, deployment timelines and efficiency gains, while distinguishing technology demonstrations from customer deployments.
Wednesday, October 14, Before the U.S. Market Open | ASML Q3 Earnings
ASML previously guided to a third-quarter gross margin of 55%–57% and planned approximately 30% capacity increases for both low-NA EUV and DUV immersion systems in 2027. Orders, customer delivery schedules and updated guidance will indicate whether demand supports those expansion plans and sustained margins.
Wednesday, October 14, 8:30 a.m. ET | U.S. September CPI
August CPI rose 3.4% year over year and 0.4% month over month, with gasoline accounting for more than one-third of the monthly increase; core CPI rose 0.3% month over month. September’s report will show whether energy pressure persists and whether shelter and other core services also accelerate, potentially changing rate expectations.
Thursday, October 15, 8:30 a.m. ET | U.S. September PPI, Retail Sales and Weekly Jobless Claims
The simultaneous releases will update producer prices, consumer spending and labor-market conditions. Focus on cost pressures, retail spending beyond autos and gasoline, and the four-week average of initial claims to distinguish underlying changes from price effects or weekly volatility.
Thursday, October 15, Noon ET | EIA Petroleum Inventories
The Columbus Day holiday delays this report, which covers the week ended October 9. Crude, gasoline and distillate inventories should be assessed alongside refinery utilization and trade flows to distinguish supply adjustments from changes in end-user demand.
Thursday, October 15, 11:30 p.m. ET | Warsh’s Discussion with IMF Managing Director Georgieva
Fed Chair Kevin Warsh and IMF Managing Director Kristalina Georgieva will discuss forces reshaping the global economy. Following the inflation and spending releases, watch for changes in Warsh’s assessment of inflation, growth and the policy path; the official agenda does not promise discussion of a specific rate decision.
Bottom line:
The key question in this week’s U.S. data is whether prices, spending and employment point in the same direction. Persistent core inflation alongside resilient consumption could strengthen expectations for further tightening; weaker spending without easing price pressure would make the Fed’s trade-off more difficult. EIA inventories add context on energy supply and demand, while Warsh’s discussion may clarify how he interprets economic developments.
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According to official announcements, South Korea’s largest crypto exchange Upbit will list Gitcoin (GTC) with KRW and USDT trading pairs, while Bithumb, the country’s second-largest exchange, will add a KGEN/KRW pair, with trading scheduled to begin at 7:30 p.m. KST on October 12. Gitcoin is a decentralized community focused on funding open-source software and digital public goods through mechanisms including quadratic funding. KGEN is the native token of KGeN, a gaming and consumer network focused on user identity, reputation and engagement across Web3 applications.

According to 21st Century Business Herald, Beijing police have opened a criminal investigation into companies linked to CreditEase, one of China’s largest former P2P lending groups, with founder Tang Ning and other suspects placed under criminal compulsory measures. CreditEase had previously halted redemptions on fixed-income-like products and said the group may be insolvent, with a significant repayment shortfall. CreditEase and its affiliated investment funds have also been active in crypto and fintech investments, with publicly disclosed portfolio exposure including Circle, Matrixport, Figure, Archax and Poko.

Kraken parent Payward has received full market approval from Dubai’s VARA, allowing regulated virtual-asset services for retail, professional and institutional investors. Kraken plans to launch in the UAE within weeks, with AED-denominated spot and margin trading, direct AED deposits and withdrawals, onchain staking and tokenized stocks via xStocks. Institutional clients will also get OTC spot and Kraken Prime. Crypto derivatives and other products are planned for late 2026 into 2027, subject to further approval. Payward received preliminary VARA approval in May.

Solana treasury company SkyAI (Nasdaq: SKYA) said it plans a cash tender offer at $3 per share and per pre-funded warrant, for up to 95% of its outstanding common stock and related warrants, with a maximum purchase price of about $201 million. It expects to fund the offer with cash on hand and proceeds from selling SOL, and to launch it around Oct. 15. The board also rejected Forward Industries’ unsolicited, non-binding all-stock proposal to exchange 0.306 FWDI shares for each SkyAI share, saying it undervalued the company.

Editor | Wu Blockchain
Verified as of October 10, 2026 (ET) | Coverage period: October 12–18, 2026 (ET)
The key events to watch this week:
Monday, October 12, 8:30 p.m. and 8:45 p.m. ET | Broadcom and NVIDIA Keynotes at OCP
Broadcom and NVIDIA will discuss open AI networking and AI factory infrastructure, with subsequent sessions covering optical interconnects, 800 VDC power and liquid cooling. Watch for compatibility standards, deployment timelines and efficiency gains, while distinguishing technology demonstrations from customer deployments.
Wednesday, October 14, Before the U.S. Market Open | ASML Q3 Earnings
ASML previously guided to a third-quarter gross margin of 55%–57% and planned approximately 30% capacity increases for both low-NA EUV and DUV immersion systems in 2027. Orders, customer delivery schedules and updated guidance will indicate whether demand supports those expansion plans and sustained margins.
Wednesday, October 14, 8:30 a.m. ET | U.S. September CPI
August CPI rose 3.4% year over year and 0.4% month over month, with gasoline accounting for more than one-third of the monthly increase; core CPI rose 0.3% month over month. September’s report will show whether energy pressure persists and whether shelter and other core services also accelerate, potentially changing rate expectations.
Thursday, October 15, 8:30 a.m. ET | U.S. September PPI, Retail Sales and Weekly Jobless Claims
The simultaneous releases will update producer prices, consumer spending and labor-market conditions. Focus on cost pressures, retail spending beyond autos and gasoline, and the four-week average of initial claims to distinguish underlying changes from price effects or weekly volatility.
Thursday, October 15, Noon ET | EIA Petroleum Inventories
The Columbus Day holiday delays this report, which covers the week ended October 9. Crude, gasoline and distillate inventories should be assessed alongside refinery utilization and trade flows to distinguish supply adjustments from changes in end-user demand.
Thursday, October 15, 11:30 p.m. ET | Warsh’s Discussion with IMF Managing Director Georgieva
Fed Chair Kevin Warsh and IMF Managing Director Kristalina Georgieva will discuss forces reshaping the global economy. Following the inflation and spending releases, watch for changes in Warsh’s assessment of inflation, growth and the policy path; the official agenda does not promise discussion of a specific rate decision.
Bottom line:
The key question in this week’s U.S. data is whether prices, spending and employment point in the same direction. Persistent core inflation alongside resilient consumption could strengthen expectations for further tightening; weaker spending without easing price pressure would make the Fed’s trade-off more difficult. EIA inventories add context on energy supply and demand, while Warsh’s discussion may clarify how he interprets economic developments.