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Phemex Crypto Market Daily: Bitcoin Hits New All-Time High Above $123K as ETF Inflows Surge (Oct 06)
Key Takeaways:
1. Macro Environment The ongoing US government shutdown has delayed key economic data, increasing market uncertainty and volatility. The US dollar's decline has fueled demand for gold and Bitcoin, highlighting their inverse correlation. Strong US economic data and surging stablecoin adoption are driving capital inflows into crypto and DeFi. 2. Crypto Market The crypto market rallied, with Bitcoin hitting $123,774 (+1.24%) and Ethereum at $4,518.76 (+0.95%), both reaching new highs on strong ETF inflows and institutional demand. Altcoins outperformed, led by SPX6900 (+11.5%), Mantle (+7.6%), and Injective (+5.2%), driven by meme coin momentum, Layer 2 growth, and DeFi activity. 3. Today's Outlook No major token unlocks or high-impact events are scheduled for today. Market participants should monitor routine project updates and ongoing macroeconomic uncertainty, as these factors may influence short-term volatility and sector rotation.