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Bitcoin popped back above $82,000 on Monday, rebounding with risk assets as oil prices declined.

The original cryptocurrency climbed as much as 2.3% in early Asia trading and was hovering around $82,400 at noon in Singapore. Smaller tokens also advanced. Ether was up as much as 3.7%, while Solana gained more than 4.6%.

MARA Holdings Transferred 1,000 BTC to Exchanges Within 5 Days, Suspected of Selling

Bitcoin mining company MARA Holdings appears to be selling BTC. Over the past 5 days, wallets associated with MARA have deposited a total of 1,000 $BTC into Binance and Gate, worth approximately $82.8 million.

Michael Saylor: Bitcoin Is Returning to a Bull Market, and Bitcoin-Backed Stablecoins May Emerge in the Future

Strategy founder Michael Saylor stated in a recent interview that Bitcoin is returning to a bull market, and within the next 12 to 24 months, banks accelerating the provision of Bitcoin custody and related credit services, as well as security tokenization, will become key drivers.

Previously, Strategy repurchased approximately $1.5 billion in STRC to stabilize the STRC price, and currently holds cash reserves sufficient to cover about 3.5 years of dividends. Additionally, he indicated that a stablecoin backed by Bitcoin, pegged to the US dollar, and offering annualized returns of 6% to 8% may emerge in the future.

Bitcoin Spot ETF Saw Net Outflows of $229 Million Last Week, with BlackRock's IBIT Recording Net Outflows of $165 Million

During the previous trading week (U.S. Eastern Time, October 12 to October 16), Bitcoin spot ETFs experienced a net outflow of $229 million.

The Bitcoin spot ETF with the largest net outflow last week was BlackRock's ETF IBIT, with a weekly net outflow of $165 million; IBIT's cumulative net inflows to date have reached $65.57 billion. Next was Fidelity's ETF FBTC, with a weekly net outflow of $60.2797 million; FBTC's cumulative net inflows to date have reached $10.45 billion.

BlackRock Sees Tokenized Funds Moving Into Wall Street Plumbing

Wall Street’s embrace of blockchain technology is moving beyond merely creating digital versions of stocks, bonds and money-market funds toward a bigger goal: changing how those assets move through the financial system.

BlackRock Inc., which helped bring cryptocurrencies into mainstream investment portfolios while putting traditional funds on blockchains, sees opportunities for tokenized assets to serve as collateral, move between investors around the clock and reduce the need to redeem holdings when transferring ownership.

Strive CEO: Bitcoin's Long-Term Performance Is Expected to Surpass Gold

Strive CEO Matt Cole posted on X that prolonged currency devaluation will continue to drive the appreciation of scarce assets. Bitcoin, as digital gold, remains in its early stages, and with market maturation, its long-term performance is expected to surpass that of gold. Cole also listed the annualized growth rates of gold and U.S. M2 during different periods: 9.0% and 6.7% since 1970, 9.5% and 6.3% since the global financial crisis, and 18.3% and 6.5% since the pandemic.

He believes that as the debt crisis worsens, the long-term outperformance of scarce assets relative to the U.S. dollar may further expand. For Strive, whether it can outperform Bitcoin depends not merely on reducing financing costs, but on maintaining a high Bitcoin exposure multiplier and sufficient liquidity; establishing and sustaining a high Bitcoin exposure while avoiding financial risks is highly challenging. Its core investment philosophy is to reduce U.S. dollar exposure over the long term and increase Bitcoin allocation.

Bitcoin Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF last Friday was $82.39 million. The total net asset value of Bitcoin spot ETFs is $104.29 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.35%.

The Bitcoin spot ETF with the highest net inflow on October 16 was iShares Bitcoin Trust, with a net outflow of $71.78 million, according to SoSoValue.