Crypto News Today: Bitcoin Hits $126K, U.S. Reserve Funding to Begin Soon, Traders Eye Altcoin ETF Decisions
Key Points
- Bitcoin hits $126K ATH, and cools down due to the profit-taking momentum.
- Bitcoin witnessed record ETF inflows, with BlackRock’s IBIT witnessing $3.22 billion inflow.
- Senator Cyntia Lummis signals that the funding of the U.S. Bitcoin Reserve can start anytime.
- ETH surges 5%, altcoins such as XRP, DOGE, LTC, & SOL await ETF decisions from the SEC.
Bitcoin continues its Uptober rally today, with the price entering a new all-time high of $126,198.07. The total crypto market capitalization touched $4.30 trillion, driven by the inflows into altcoins such as BNB, Chainlink (LINK), Pancakeswap (CAKE), and ASTER, along with BTC.
Ethereum witnessed a 5% increase, and the assets that await various ETF approvals this month, such as XRP, SOL, DOGE, and ADA, also exhibited increased trading activity and upward momentum.
The crypto market today extends the weekly surge that nears 10%, primarily driven by institutional demand through ETFs, and the Uptober rally frenzy. Market observers expect the trend to continue till the end of the month, despite the uncertainties regarding the U.S. government shutdown.
Bitcoin ETFs Surge, BlackRock’s IBIT Receives $3.2 Billion, Altcoin ETFs Next
BlackRock’s IBIT, the largest Bitcoin ETF globally, witnessed a significant $3.2 billion inflow, adding to the Uptober push. Started as one of eleven spot products that the Securities & Exchange Commission (SEC) approved in January 2024, IBIT now leads the largest ETF inflow in 2025. ETF analyst Eric Balchunas tweeted that IBIT is now the most profitable exchange-traded product of BlackRock so far. “It is a hair away from $100 billion,” he added.
$IBIT a hair away from $100 billion, is now the most profitable ETF for BlackRock by a good amount now based on current aum. Check out the ages of the rest of the Top 10. Absurd. pic.twitter.com/E8ZMI2wynx
— Eric Balchunas (@EricBalchunas) October 6, 2025
The surge in ETF momentum, a reflection of the institutional participation, is considered by many analysts as a reaction to the uncertainties in the traditional economy. Vugar Bayramov, the Azerbaijani economist and Member of Parliament, observes that the global economy is experiencing one of the most complex periods of recent decades. “Geopolitical shifts, structural imbalances in leading economies, and deepening uncertainty in financial markets signal the onset of a new and potentially prolonged crisis cycle,” he stated.
Global economic tensions and government-driven stressful situations, like the U.S. shutdown, force investors to shift into assets such as Bitcoin and Gold. Amidst the shutdown extending to its seventh day, market forecasters expect major altcoins also to join the Uptober rally, particularly the assets awaiting ETF approvals. Starting with Grayscale’s Litecoin ETF scheduled for October 10th, around 15 ETFs will meet the deadlines this month.
Senator Cyntia Lummis Reveals U.S. Bitcoin Reserve Funding ‘Can Start Anytime’
Senator Cyntia Lummis, a pro-crypto administrator who supports Trump’s vision to make America the crypto capital of the world, revealed that the fund acquisition process for the U.S. strategic reserve will begin anytime now. “Legislating is a slog, and we continue to work toward passage, but thanks to President Trump, the acquisition of funds for an SBR can start anytime,” Lummis stated in an X post on Monday.
This is a fabulous articulation of why the SBR and passing the BITCOIN Act makes so much sense.
— Cynthia Lummis 🦬 (@CynthiaMLummis) October 6, 2025
Legislating is a slog and we continue to work toward passage but, thanks to President Trump, the acquisition of funds for an SBR can start anytime. ⤵️ https://t.co/gUkeZBPQr4
The reserve will include altcoins such as ETH, XRP, ADA, and SOL, along with BTC, and the fund allocation and purchases will likely help these assets to continue the bullish phase, leading to the peak of the altcoin season. Various other nations have also started crypto accumulation to build their strategic reserves.
XRP, SOL, DOGE, & LTC Expect Breakout With Upcoming ETF Deadlines
While not yet arriving on the track of Bitcoin, assets that await ETF decisions this month are also expected to surge to new heights in the Uptober rally. However, a reversal is also possible if the U.S. shutdown continues till the end of October, which will make the SEC unable to finalize the decisions on the corresponding dates. The list of October crypto ETFs and the deadlines are given below.
- Grayscale Litecoin Trust – 10/10/25
- CoinShares Litecoin ETF – 10/23/25
- Grayscale Solana Trust – 10/10/25
- VanEck Solana Trust – 10/16/25
- 21Shares Core Solana ETF – 10/16/25
- Canary Solana ETF – 10/16/25
- Bitwise Solana ETF – 10/16/25
- Grayscale Dogecoin Trust – 10/18/25
- Grayscale XRP Trust – 10/18/25
- 21Shares Core XRP Trust – 10/19/25
- Bitwise XRP ETF – 10/22/25
- Canary XRP ETF – 10/23/25
- Wisdomtree XRP Fund – 10/24/25
- CoinShares XRP ETF – 10/23/25
Also Read: October 2025 Crypto ETF Approvals
Crypto Market Today: Bullish & Greedy
- Market Cap – $4.26 Trillion
- Fear & Greed Index – Greed (62)
- Bitcoin Dominance – 58.0%
- Ether Dominance – 13.3%
- Crypto ETFs Net Flow – + $306,040,000
- Altcoin Season Index- 60/100
The crypto market today is cooling down from the ATH, and the profit-taking momentum is live. However, the market is still bullish and greedy, generating both optimism and caution. Bitcoin’s dominance has decreased due to ETH’s 5% surge, indicating the surge of altcoins. BTC is now at $123.8K, ETH at $4.6K, XRP at $2.97, BNB at $1.24K, SOL $230, and DOGE $0.26.
Crypto & Blockchain Expert