Key facts
- Bitcoin traded at $82,161, down 1.4% for the week.
- Ethereum fell 5.3% to $2,415, with other major altcoins experiencing steeper declines.
- Combined outflows from Bitcoin and Ethereum ETFs reached $548.5 million for the week.
- Circle plans to expand stablecoin services into approximately 40 emerging markets.
- Papertrade generated $30.56 million in revenue, leading on-chain protocols for the week.
Bitcoin and other major cryptocurrencies saw a rebound, trading near $82,161 and showing resilience despite recent selloffs and fears of a 'Black Monday' market crash. However, many altcoins experienced steeper declines over the past week, with some losing over 20%. Spot Bitcoin ETFs experienced $228.4 million in net outflows, and Ethereum ETFs lost $320.1 million, contributing to a total of $1.86 billion in outflows for October. Circle announced plans to expand its stablecoin services into approximately 40 emerging markets, citing organic demand. On-chain protocol Papertrade led revenue among its peers, generating $30.56 million for the week. The unofficial trenches index, a measure of market sentiment, hit "cold" for the first time since April.