TL;DR

Markets:

• BTC is down & ETH is down

• BTC over-performed ETH this week 

• Bitcoin dominance is up

• The hot coin we look at this week is $OM

Airdrops:

• $RWT

• $DIBS

• $ULX

• $BYBIT

News:

• HBO Documentary Proposes Bitcoin Creator's Identity

• Spot Bitcoin ETFs Face Largest Outflows Since September

• Vitalik Proposes Ethereum Alignment Metrics

• Fidelity Ethereum ETF Sees Record Outflows

• Levana Partners with THORChain and Kujira

• LAVA Expands to PancakeSwap and Osmosis

• SEC Wins Case Against Rivetz's $18M ICO

• PayPal Completes First PYUSD Business Transaction

  And much more!

BTC & ETH Market Update 📈

Crypto is up this week, with BTC being down 5.3% and ETH down 10.2%:

Bitcoin dominance has increased over the week, rising from 53.9% to a low of 53.56% and ending at 54.6%. Investor sentiment, regulatory changes, technological advancements, and the overall growth of the cryptocurrency sector shape Bitcoin's market dominance. Its reputation as "digital gold" also enhances its position, making it a key player in the market.

It’s going to be interesting to see whether this trend will continue in the short term, as capital in crypto tends to flow initially to BTC and then further out on the risk-curve, starting with altcoins like ETH and then into mid- or low-cap coins.

Bitcoin has regained the $62,000 level, rising 2.4% after retesting the $59,900 support on October 3.

This surge is driven by macroeconomic factors, including robust US employment data, Japan's potential economic stimulus, and heightened concerns over the US financial system.

Despite a historically inverse relationship between Bitcoin and the US Dollar Index (DXY), both assets are rising due to the "Milkshake Theory," which suggests that the US dollar is absorbing global liquidity.

Traders are expecting heightened volatility for Ethereum (ETH) as the U.S. presidential election approaches, with analysts predicting significant price swings between October 25 and November 8.

Derive founder Nick Forster notes that traders anticipate more extreme movements for ETH compared to Bitcoin (BTC), largely due to Ethereum's exposure to potential regulatory scrutiny tied to its role in decentralized finance (DeFi).

Ethereum (ETHUSD) Analysis:

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