Bitcoin News Today: Institutional Bitcoin Security Upgrades Signal Stabilizing Crypto Confidence

Bitcoin finally escapes 'fear' as confidence tiptoes back into crypto

The crypto market showed signs of stabilization this week as Bitcoin (BTC) edged higher ahead of the U.S. inflation data release, with prices climbing 1.3% in the past 24 hours to $111,000. The Fear & Greed Index, a key sentiment indicator, stood at 32, reflecting lingering caution among investors despite the recent uptick. Market participants are now turning their attention to the September CPI report, expected to show a 0.4% monthly increase in inflation, which could influence the Federal Reserve's policy trajectory and short-term crypto volatility, according to Coinpedia's live CPI updates.

Meanwhile, institutional confidence in Bitcoin remained evident as SpaceX transferred $133.68 million worth of Bitcoin to new wallets, signaling a security upgrade rather than a sale. The aerospace company moved 1,215 BTC—split into 300 BTC and 915 BTC—into fresh addresses, a move tracked by blockchain analytics firm Arkham Intelligence. SpaceX's holdings now total 6,970 BTC, valued at approximately $772 million, underscoring its long-term commitment to the asset, as Coinotag reported.

Market dynamics were further shaped by ETF activity, with U.S. spot Bitcoin ETFs recording $20.33 million in inflows on October 23, led by BlackRock's IBIT with $107.78 million, according to Coinpedia's report on ETF trading. Conversely, Ethereum ETFs saw outflows of $127.51 million, reflecting divergent investor sentiment between the top two cryptocurrencies. Bitcoin's price hovered near $111,300, though it remained 2.3% below its monthly open, raising concerns about a negative "Uptober" performance—a pattern last seen in 2014, as CryptoNews reported.

The Federal Reserve's upcoming rate decision added another layer of uncertainty. Historical data suggests that early rate cuts often trigger crypto rallies, as seen in the 6.6% surge in Bitcoin and 13% jump in Ethereum following the September 2024 cut; however, subsequent cuts in late 2024 and 2025 saw muted or negative responses, as markets priced in policy easing in advance, according to a CryptoNews analysis. Analysts warned that the next rate cut, expected in October, might not replicate earlier gains due to overlapping macroeconomic risks, including U.S.-China tensions and regional banking concerns.

Despite the recent $19 billion liquidation event on October 10—driving Bitcoin to a four-month low of $104,000—some analysts view the crash as a buying opportunity. Standard Chartered's Geoff Kendrick suggested Bitcoin could still reach $200,000 by year-end, though the lack of ETF inflows and geopolitical headwinds remain challenges, as TradingView reported.