TL;DR

Markets:

• BTC is up & ETH is up

• BTC over-performed ETH this week 

• Bitcoin dominance is down

• The hot coin we look at this week is $KUJI

Airdrops:

• $SMASH

• $MYTH

• $GUN

• $FORM

News:

• South Korean SEC Advances Bitcoin ETF Discussions

• Supreme Court Clears Silk Road Bitcoin Sale

• $5.5M Eigen Token Heist Linked to Email Breach

• Bison Launches Insured Ethereum Staking Service

• TeamKujira Rebrands to RujiraNetwork

• Andromeda Partners with Sherlock for Security Audits

• World Liberty Financial Plans $300 Million Token Sale

• Ripple Co-founder Donates $1M in XRP to Kamala

And much more!

BTC & ETH Market Update 📈

Crypto is up this week, with BTC being up 0.9% and ETH up 0.7%:

Bitcoin dominance has decreased over the week, starting from 54.5% to a peak of 54.7% and ending at 54.4%. Investor sentiment, regulatory changes, technological advancements, and the overall growth of the cryptocurrency sector shape Bitcoin's market dominance. Its reputation as "digital gold" also enhances its position, making it a key player in the market.

It’s going to be interesting to see whether this trend will continue in the short term, as capital in crypto tends to flow initially to BTC and then further out on the risk-curve, starting with altcoins like ETH and then into mid- or low-cap coins.

Bitcoin showed resilience following the release of the latest U.S. Producer Price Index (PPI) report, which revealed higher-than-expected inflationary pressures.

The PPI for September increased by 1.8%, surpassing the forecasted 1.6%, adding to concerns about rising inflation alongside the Consumer Price Index (CPI). Despite this, Bitcoin rebounded from a dip below $59,000, recovering by 4% and reaching as high as $61,500.