The crypto market saw renewed investor activity today, as developments in stablecoins, Bitcoin ETFs, and ongoing market cycles attracted attention. A statement from Stripe’s CEO sparked conversation about banking competitiveness, while U.S.-listed Bitcoin ETFs recorded one of their strongest weeks to date.
Market participants also shared their views on whether Bitcoin’s historic price cycles are still valid in today’s market structure.
Stripe CEO Says Stablecoins May Pressure Banks to Offer Higher Interest Rates
Stripe CEO Patrick Collison commented on the growing popularity of yield-bearing stablecoins, saying that they could pressure traditional banks to offer better returns on customer deposits. According to Collison, most savings rates in the U.S. and Europe remain below 1%, which creates room for alternative financial tools to compete.
“Depositors are going to, and should, earn something closer to a market return on their capital,” said Collison.
He also noted that certain lobbying groups are attempting to restrict incentives tied to stablecoin holdings.
“The business imperative here is clear — cheap deposits are great, but being so consumer-hostile feels to me like a losing position,” he added.
As of early October, the stablecoin market cap has grown to $292 billion, based on figures from RWA.XYZ. This growth follows new regulatory clarity in the U.S. after a crypto-focused bill was passed into law. The stablecoin sector continues to evolve as both centralized and decentralized issuers explore yield-bearing models.
Spot Bitcoin ETFs Record Over $3 Billion in Weekly Inflows
U.S.-listed spot Bitcoin ETFs began October with $3.24 billion in net inflows, according to data from SoSoValue. This marks the second-best week for these investment products since their introduction, with the previous record set in November 2024 at $3.38 billion.
The recent inflows follow a week of outflows totaling $902 million. Analysts have linked the change to shifting expectations around U.S. interest rates. With another potential rate cut on the table, investors are showing renewed interest in Bitcoin and other risk assets.
A spokesperson from Nexo commented that “ETF absorption is accelerating while long-term holder distribution eases,” suggesting that Bitcoin is seeing a steadier demand base. The increase in inflows also briefly lifted Bitcoin’s price above $123,996 on Friday, the highest level since mid-August.
Institutional Buying Pushes Bitcoin Toward Historical Q4 Trends
The strong start to October has led some analysts to revisit the idea of “Uptober,” a term used in past years to describe Bitcoin’s usual performance during this period. Data shows that October tends to be the second-best month for Bitcoin historically, based on average returns.
ETF inflows have brought in nearly $4 billion over the past four weeks, according to analysts at Nexo. At current levels, these inflows could remove over 100,000 BTC from active circulation. This dynamic has drawn attention from market participants tracking Bitcoin’s liquidity and demand pressures.
The current quarter is expected to show higher engagement from institutional buyers, who are increasingly turning to ETFs as a regulated option to gain exposure to Bitcoin. With long-term holders slowing their distribution, supply-side pressure appears to be easing.
Bitcoin Market Cycles May Continue, Says Gemini Executive
Speaking at Token2049 in Singapore, Gemini’s APAC head Saad Ahmed said the idea of Bitcoin’s four-year price cycle remains relevant, even as the market matures. “It’s very likely that we’ll continue to see some form of a cycle,” said Ahmed, noting that market psychology still plays a strong role in crypto trends.
According to Ahmed, cycles occur because “people get really excited and overextend themselves, and then you kind of see a crash.” He acknowledged that institutional participation may reduce volatility, but does not eliminate patterns altogether.
“You’ll still see some sort of a cycle, because ultimately, it’s driven by human emotion,” he stated.
The rise of ETFs and stablecoins may influence future cycles, but recurring patterns tied to market behavior could continue. As investors become more informed and the infrastructure develops, the speed and shape of these cycles may shift, but not disappear.
