A breather after the rally, gold price breaches $4K, and more crypto ETF rumours

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🟠 BTC cools off - after hitting $126K earlier in the week.

📉 Crypto market cap - slips 2.2% amid profit-taking.

🏛️ ETF approvals delayed - by US government shutdown.

💰 Gold rallies past $4,000 - as investors seek safety.

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Crypto markets are broadly down this morning, with the total market cap retracing about 2.2% overnight. Profit-taking has sent Bitcoin (BTC) down to the mid-$121K range after cruising past $126K earlier in the week. Ethereum (ETH) has given back most of yesterday’s gains but remains up a healthy 7%+ over seven days.

Several crypto ETFs, including those for Hedera (HBAR) and Litecoin (LTC), are still awaiting approval from the Securities and Exchange Commission (SEC), but the ongoing US government shutdown has delayed these decisions. If approved, they could inject fresh momentum into the market.

Meanwhile, Monday saw the biggest inflows into Bitcoin ETFs since President Trump’s election victory, a move that previously triggered a broad crypto rally driven by renewed crypto regulatory optimism.

In traditional markets, US stocks are also flashing red, with Tesla and Oracle seeing sell-offs. Analysts cite continued uncertainty around the US government shutdown, which has pushed investors toward safe-haven assets like gold, now above $4,000, double its price from two years ago. Some analysts said the same about Bitcoin’s price pulse earlier this week, with investors possibly seeking a hedge in the original crypto amid macro uncertainty.

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🌍 Total crypto market cap ↘️

The global crypto market cap is approximately $4.25  trillion, down 2.2% from this time yesterday. 

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🟠 Bitcoin (BTC) ↘️

Price: $121,452 down 1.8% in the last 24 h.
Daily high: $125,108
Daily low: $120,702

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📈 S&P 500  ↘️

SPY is currently down 0.38% since yesterday’s close. 

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📈 Nasdaq 100 ↘️

The Nasdaq 100 is down about 0.55% overnight. 

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🤑 Fear & Greed Index

The Crypto Fear & Greed Index stands at 62/100, in Greed.

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*Data is correct as at 08 October 08:15 GMT. 

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Newsmaker

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HBAR and LTC ETF rumours swirl

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• A new filing for an exchange-traded fund tracking Hedera (HBAR) has revealed details that analysts say could signal a possible approval by the US Securities and Exchange Commission (SEC), The Block reports. 
  
  
• "With shutdown tho who knows but these docs look pretty finalized to me," Balchunas said in a post on Tuesday on X.
  
  
• Canary Capital has updated its registration for the Canary HBAR ETF, revealing its ticker symbol HBR. The firm is also developing a Litecoin ETF, which will trade under the ticker LTCC.

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*Investing in cryptocurrency may result in the loss of capital. This information should not be construed as a solicitation to trade. All opinions, news, research, analysis, prices or other information is provided as general market commentary for information purposes only and is not investment advice or recommendation. Luno always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

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