From its US success to the world, is Bitcoin’s “Uptober” about to begin?
What impact will the US government shutdown have on the cryptocurrency market?
The “Binance Dollar” has become a de facto currency in Venezuela, where inflation is at 229%.
The Governor of the Bank of England discusses the potential for stablecoins to reduce reliance on banks.
Robinhood is keen to expand its prediction market overseas.
Let’s analyze the news on the global economy and cryptocurrencies and consider economic trends together!
Thursday, October 2nd, we will discuss today’s cryptocurrency news and on-chain market conditions.
This program brings you the latest news to help you with your asset building. Let’s start by looking at 24-hour data headlines from the cryptocurrency market.
Has Bitcoin’s “Uptober” Really Begun?
Bitcoin has proven surprisingly resilient when faced with geopolitical turmoil. October in particular has shown strong performance in the past, giving rise to the term “Uptober.”
Many analysts are focusing on the fact that Bitcoin prices are beginning to show important signals. Prices have remained strong over the past few weeks, with trading volume and on-chain metrics also showing signs of activity. Since 2020, cryptocurrencies have risen an average of 37% in the 60 days following major events in October, sometimes significantly outperforming the S&P 500 during the same period.
These developments are driven by complex global macroeconomic and regulatory factors. In particular, how will the temporary shutdown of the U.S. government affect market sentiment?
U.S. Government Shutdown: Ripples to the Cryptocurrency Market
On October 1, 2025, the U.S. government officially shut down following a prolonged political stalemate. This resulted in the suspension of many federal agencies and affected some services.
This situation could have an impact not only on traditional financial markets but also on the cryptocurrency market. Some observers believe that investors may temporarily withdraw from risky assets amid growing uncertainty. On the other hand, others point out that the shrinking dollar supply caused by the government shutdown will increase interest in alternative assets such as Bitcoin.
The Binance Dollar Becomes a De facto Currency in Venezuela
Surprisingly, in Venezuela, where inflation is at an extremely high rate of 229%, the stablecoin known as the Binance Dollar (BUSD) is widely used as a de facto currency.
Due to declining confidence in the local fiat currency, the bolivar, demand for a stable digital dollar has skyrocketed. As a result, reports suggest that BUSD is being used for many everyday transactions and even salary payments. This is an interesting case study that demonstrates how cryptocurrencies can become a cornerstone of daily life during an economic crisis.
Bank of England Governor Proposes “Stablecoins Reduce Bank Dependence”
Bank of England Governor Andrew Bailey recently stated that “stablecoins have the potential to reduce reliance on banks.”
This statement reflects expectations that central bank digital currencies (CBDCs) and privately issued stablecoins will lead to greater efficiency and stability in the financial system. However, careful regulatory response is required, and market participants are closely monitoring future policy developments.
Robinhood Takes on New Challenge: Prediction Markets Overseas
Finally, we’re pleased to report that Robinhood, which has enjoyed success in the US, is considering expanding its prediction market service overseas.
Prediction markets are systems for betting based on future predictions of event outcomes and other factors, and are characterized by their ability to leverage the collective intelligence of market participants. Robinhood plans to further expand this model globally and provide services in emerging markets and regions with robust regulatory environments. This is expected to increase the diversity and liquidity of financial products.
A common theme emerging from the news we’ve covered this time is “uncertainty and change.”
First, interest in and use of cryptocurrencies and digital assets is growing, even amid political uncertainty and high inflation.
Second, while market participants and policymakers are still in the exploration stage, there is a mixture of excitement and caution regarding new financial technologies and services.
Third, this trend is not just speculation; it could lead to structural changes in the financial system itself.
That concludes today’s news. Our channel provides in-depth, expert coverage focused on valuable news in the cryptocurrency world. If you find this channel valuable, please share, follow, and turn on notifications.
See you tomorrow!
