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Bitcoin price faces second straight ‘Downtober’ as US spot demand weakens

By Olivia Stephanie

Bitcoin faces a second straight losing October as CryptoQuant flags weak US spot demand, despite $176 million in ETF inflows ahead of the Fed decision.

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Federal Reserve

The central bank of the United States, which sets US interest rates and supervises banks.

Because the dollar is used worldwide, its rate decisions affect borrowing costs and markets in many other countries.

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Bitcoin

The first and largest cryptocurrency, created in 2009, with a fixed maximum supply and no central issuer.

Its price swings and adoption by funds and companies make it a bellwether for the whole crypto market.

More about Bitcoin
Exchange-traded fund

An investment fund that holds a basket of assets, such as the shares in an index, and trades on a stock exchange like a single share.

ETFs offer low-cost, diversified investing and are a fast-growing way people save.

More about Exchange-traded fund

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