Bitcoin News Today: Bitcoin ETFs Power $114k Rally as Shutdown Delays Altcoins, Brazil's Energy Magnet Attracts Miners

Bitcoin surged past $114,000 in early October 2025, defying the U.S. government shutdown that delayed approvals for altcoin ETFs and created regulatory uncertainty. The cryptocurrency's price resilience was attributed to sustained inflows into spot Bitcoin ETFs, which added $7.8 billion in Q3 2025, despite short-term volatility in late September. Analyst Eric Balchunas highlighted the ETFs' "two steps forward, one step back" growth trajectory, emphasizing their $21.5 billion year-to-date inflows and $57 billion since inception. Institutional demand, though temporarily cooling in late September, remained a critical driver, with BlackRock's iShares Bitcoin Trust (IBIT) alone attracting $128.9 million in a single day of renewed inflows.

The U.S. government shutdown, which stalled economic data releases and delayed regulatory decisions, intensified market jitters. However, Bitcoin's performance contrasted with historical trends from the 2018–2019 shutdown, where the asset fell 6%, as 2025's context included stronger institutional adoption and a bullish seasonal outlook for October. The shutdown also froze SEC reviews for ETFs tied to Litecoin, Solana, and XRP, pushing approval deadlines into November. Despite these delays, analysts anticipated eventual approvals, noting that Bitcoin ETFs retained a dominant market position despite competition from new altcoin products.

Meanwhile, Brazil emerged as a strategic hub for Bitcoin miners, leveraging its renewable energy surplus to offset chronic grid inefficiencies. At least six projects, including a $200 million initiative by Renova Energia, aimed to utilize wind and solar power to power mining operations in regions like Bahia and Piaui. Energy firms viewed crypto miners as ideal partners to absorb excess electricity, with one industry lawyer describing them as "diamonds" for their flexibility in scaling demand. This trend mirrored Laos' strategy of using hydropower to attract miners, contrasting with China's 2021 ban and Thailand's regulatory crackdowns. Brazil's energy surplus, driven by rapid wind and solar development outpacing grid infrastructure, allowed miners to access cheap power without straining the grid.

Market fundamentals for Bitcoin remained mixed in early October. On-chain data indicated a shift to distribution mode, with all wallet cohorts-from large holders to small investors-selling assets. The Accumulation Trend Score, a key metric tracking net accumulation, fell to 0.26, signaling persistent sell pressure. Short-term holders (STHs) faced losses, as the STH-SOPR ratio dropped below 1, reflecting panic selling. However, long-term investors remained optimistic, citing structural factors like ETF growth, institutional adoption, and potential U.S. government adoption of Bitcoin.

Looking ahead, October's outlook hinged on macroeconomic catalysts. Federal Reserve policy, U.S. jobs data, and corporate Bitcoin accumulation would shape investor sentiment. If ETF inflows resumed and rate cuts were priced in, Bitcoin could target $150,000–$200,000. Risks, however, persisted, including hawkish policy surprises, dollar strength, and political gridlock in Washington. Brazil's regulatory vacuum also posed challenges, with lawmakers scrambling to draft crypto rules even as miners rapidly expanded infrastructure.

Source: [1] How Well Did Bitcoin ETFs Actually Perform In Q3 2025? (https://beincrypto.com/us-spot-bitcoin-etfs-q3-performance-summary/) [2] Bitcoin ETF Flows [Table & Chart] (https://bitbo.io/treasuries/etf-flows/) [3] Bitcoin Near $114,000 as ETF Inflows Shape Price Outlook (https://www.analyticsinsight.net/bitcoin/bitcoin-price-holds-114000-as-etf-flows-shape-october-outlook) [4] Bitcoin ETFs Surge Back With Record $241M Inflows – ETH ETFs ... (https://finance.yahoo.com/news/bitcoin-etfs-surge-back-record-191735899.html) [5] Bitcoin Defies US Shutdown, Brazil Welcomes Miners: Global ... (https://cointelegraph.com/news/uptober-us-brazil-bitcoin-miners-global-express) [6] Clean energy glut draws cryptocurrency miners to Brazil (https://www.reuters.com/business/energy/clean-energy-glut-draws-cryptocurrency-miners-brazil-2025-09-30/) [7] Why Is the US Government Shutting Down? Crypto ... (https://coinpedia.org/news/why-is-the-us-government-shutting-down-crypto-market-impact-explained/) [8] Crypto Miners Target Brazil's Energy Surplus Amid Rule Doubt (https://www.cryptotimes.io/2025/09/30/crypto-miners-target-brazils-energy-surplus-amid-rule-doubt/) [9] All BTC Wallet Cohorts Now in Distribution Mode - CoinDesk (https://www.coindesk.com/markets/2025/08/19/all-bitcoin-wallet-cohorts-now-in-distribution-mode-glassnode-data)