Fidelity launches new BTC ETF in Canada, GS considers BTC lending, VanEck files for mining ETF, Jack pivots to BTC, India drafts new crypto regs, Korean Exchange head calls for crypto integration and Paraguay looks to legalize BTC mining

Consolidation

Bitcoin is on pace to finish the week fractionally lower and likely to post its third consecutive week of declines.

El Salvador announces $1B tokenized sovereign debt issuance with Blockstream and Bitfinex, Morgan Stanley funds add to BTC positions, Cathie Wood is still a net buyer of Bitcoin, and price gets hammered as options expiry triggers another ~ $173M in liquidations and covid worries spook markets

Black Friday Liquidation Sale

Bitcoin is on pace to follow up on last week’s -10% drop with another -8% this week.

BMN wraps up tranche 7, El Salvador connects volcanoes to Blockstream satellites, Fidelity becomes Canada’s first insto focused BTC custodian, Australia's biggest bank doesn’t want to get left behind, Mt Gox repayment gets final approval…was that the dip?

Uncorrelated

Bitcoin is on pace for its worst weekly drop in more than six months.

CPI pumps to a 30 year high, Bitcoin resets ATH, Taproot upgrade incoming, Blockstream Mining Note launches tranche 7, Russia moves to legalize mining, Kazakhstan becomes the second-largest BTC miner, and Samson Mow and Michael Saylor agree…Bitcoin is going up forever

Only transitory

Bitcoin looks set to end the week on the bottom end of its seven-day range, down off a near touch of the $70,000 mark earlier in the week, but probably good enough to squeak out the third weekly win in a row.

BMN tranche 7 out next Friday, Laos expects ~$200M from mining, Australian ETF breaks records, $400B Neuberger bullish on BTC, Bitcoin dominates Square’s quarterly revenue, Saylor sees trillions in ETF inflows and volatility drops as BTC coils for a big move.

Calm before the storm

Bitcoin is on pace to squeeze out its second consecutive week of gains.

Australia green lights Bitcoin ETFs, El Salvador adds another 420 BTC, MSTR buys 9k BTC in 3Q, India inching towards regulating Bitcoin as a commodity, Skybridge Capital reveals a billion-dollar BTC position, and Grayscale expects US spot ETFs by next summer.

Uptober

Bitcoin is on pace to finish October with the first monthly close above $60,000 ever.

Blockstream

Blockstream is the global leader in Bitcoin & blockchain technology, making financial markets more efficient by reducing reliance on trust.

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