Bitcoin dipped under $67,000 today after Mt. Gox transferred 32,000 BTC ($2.2 billion) to new wallets, part of its extended repayment plan, now set for completion by October 2025. Market volatility is already high, as US election voting and the FOMC meeting loom. Still, history suggests BTC often rallies after the election week, so current dips may just be noise.
US ETFs offloaded 7,376 Bitcoin in the second-largest sell-off ever, but BTC held up well, possibly weathering election-driven uncertainty. Meanwhile, BlackRock took advantage of the situation, adding 566 Bitcoin to its holdings. Ethereum marked 11 years since its initial white paper, but ETH/BTC dropped to a new yearly low. The State of Michigan’s pension fund is still holding steady with $7 million in Bitcoin ETFs and 460,000 Grayscale Ethereum Trust shares worth $11 million. Expect a rollercoaster week ahead.
