Weekly Recap | Bitcoin Pulls Back Toward $80K, Institutional Outflows Rise, Echobit Launches October
2026.10.13
Weekly Recap (October 5–11)
Last week, the crypto market faced a pullback amid institutional outflows and mounting macroeconomic pressure. Bitcoin encountered resistance around $86,000–$87,000 early in the week before declining steadily, briefly falling to approximately $80,400 midweek and posting a weekly loss of around 3.2%. Ethereum underperformed, declining approximately 7%. Meanwhile, the S&P 500 hit a new high, supported by corporate earnings expectations, but the crypto market failed to follow suit, highlighting the diverging drivers behind the two asset classes under current market conditions.
This week, the key market drivers will be U.S. inflation data, the Federal Reserve’s future policy path, and whether ETF inflows resume. U.S. September CPI is scheduled for release on October 14, followed by PPI and retail sales data on October 15. Markets will assess whether recent energy price increases are feeding into core inflation and whether persistent price pressures could prompt the Fed to tighten policy further before year-end. While an immediate rate hike in October is generally considered unlikely, markets remain alert to the possibility of another hike later this year.
This article provides a quick review of the key developments across the crypto industry over the past week, along with a preview of the major trends and events to watch in the week ahead.
Market Pulse
- Bitcoin reversed after briefly approaching $87,000, subsequently falling back below $84,000.
- U.S. spot Bitcoin ETFs recorded approximately $487 million in single-day net outflows, including around $208 million from BlackRock’s IBIT.
- Addresses associated with the U.S. government transferred approximately $670 million in crypto assets to Coinbase within roughly 32 hours.
- MARA Holdings sold 996 BTC, while Strategy, Strive, and Metaplanet disclosed additional Bitcoin purchases.
- Robinhood disclosed Bitcoin holdings worth approximately $25 million for the first time.
- Data showed that the global number of stablecoin holders had surpassed 300 million.
Funding & M&A
The industry saw 11 funding deals last week, with a combined value of more than $219 million, primarily focused on infrastructure and DeFi:
- Spiko, an issuer of tokenized cash funds, announced a $90 million Series B round.
- Navra completed an oversubscribed $19 million Series A round led by Ribbit Capital.
- Stablecoin payment infrastructure provider Noah announced a $38 million seed round.
- OKX completed a new funding round at a $25 billion valuation, with participation from Standard Chartered, Circle, and other investors.
Policy & Compliance
- The U.S. CFTC proposed its first set of crypto market regulatory rules.
- Hong Kong plans to submit draft legislative amendments before year-end to establish a licensing regime for virtual asset trading and custody services.
- The U.S. Treasury withdrew proposed surveillance rules concerning non-custodial wallets and cryptocurrency mixing services.
- Thailand’s SEC introduced a regulatory framework scheduled to take effect on October 16, initially covering Bitcoin and Ethereum ETFs.
- The Moscow Exchange plans to open cryptocurrency trading from December 1.
Echobit Highlights
- Echobit Earn continued offering investment products with rates of up to 50% APR.
- Echobit October Futures Trading Competition officially launched, driving trading engagement and market activity.
- Echobit October Trading Carnival went live, bringing users more trading incentives and participation opportunities.
- Echobit HOOD/USDT TradFi Futures Trading Campaign launched, expanding trading opportunities in TradFi assets.
- Echobit BRKB/USDT TradFi Futures Trading Campaign continued, broadening users’ diversified trading experience.
- Echobit Crypto Emoji Challenge launched, using an Emoji-based format to encourage community interaction.
- Echobit Feature Hunt invited users to explore product features and deepen their product knowledge.
- Echobit Candlestick Challenge launched, adding a candlestick-based guessing game to trading-themed activities.
- Echobit Hot Topics Discussion continued to encourage community conversations and sharing of market views.
- Echobit Trading Mission launched, using task-based activities to increase user participation and trading engagement.
Next Week Preview (October 12–18)
- The U.S. cash Treasury market will be closed on October 12, while U.S. stock markets and Treasury futures will remain open.
- Evernorth, an XRP treasury company, completed its business combination and plans to list on October 12.
- Fables plans to conduct its FABLES token generation event (TGE) on October 20 and will publish its claim guide on October 12.
- Paradigm’s annual conference, Frontiers, will take place in San Francisco from October 12–14.
- Kalshi may end its trading volume incentive program on October 13.
- New USDC minting on Noble through Circle Mint will stop on October 13.
- Monad launched the Metropolis Global Hackathon, featuring a prize pool of more than $250,000.
- Arc launched a $10,000 USDC micro-grant program, with applications closing on October 14.
- The deadline for filing an extension for the 2025 U.S. tax year is October 15. Crypto traders should review their reporting information before the deadline.
- Thailand’s SEC crypto ETF regulatory framework is scheduled to take effect on October 16.
- The Monetary Authority of Singapore is considering new stablecoin rules covering cross-border recognition and a prohibition on interest payments.
Echobit will continue tracking global crypto developments, with a focus on market movements, regulatory trends, and funding opportunities—helping you navigate every market cycle and stay ahead of what’s next.