Odaily reports: Crypto analyst Darkfost stated on X that Bitcoin spot trading volume has seen a moderate rebound since hitting a low in July, but the overall recovery remains limited. Among major exchanges, Binance's spot trading volume rose to over $50 billion in September, up from $42 billion in July; Bybit's spot trading volume increased from $14 billion in July to $19 billion; Kraken rose from $4 billion to $8 billion.
Darkfost noted that when Bitcoin hit its phase low in July, spot trading volume also fell to its lowest level since the last bear market, reflecting the weakest market interest in BTC in nearly 3 years. Since then, spot trading volume has picked up somewhat, but no significant recovery has yet emerged. Typically, moderate growth in spot trading volume accompanies a new round of upward momentum for Bitcoin, but if BTC wants to challenge new highs, the market still needs further increases in spot trading volume, especially new demand.
Odaily reports: Crypto analyst Darkfost posted on X that Bitcoin's price volatility around the "Power Law" trendline is gradually decreasing, with market cycle fluctuations converging. As of October 3, the model's oscillator indicator stood at +34.5, with Bitcoin priced at approximately $84,700. Based on the model parameters for that day, the Bitcoin price corresponding to an oscillator reading of +100 is approximately $157,800, about 86% higher than the current price.
However, Darkfost also noted that $157,800 is not a fixed target price, but rather a reference level calculated based on current regression parameters. If the Power Law trendline continues to rise in the future, this reference price will also increase accordingly.
Odaily reports: US Securities and Exchange Commission (SEC) Chair Paul Atkins stated that the SEC will continue advancing regulation of cryptocurrencies and digital securities, and will introduce more rules to ensure the digital asset market stays in the United States.
On October 2, Paul Atkins said the SEC's proposed crypto asset custody regulatory framework aims to update rules established in 1940 that only apply to traditional asset custody and safekeeping. The move comes after the US Senate failed to pass the CLARITY Act last month.
He noted that the framework is part of the SEC's efforts to build a comprehensive crypto asset regulatory system starting in 2025, following earlier proposals including Regulation Crypto Assets and the Innovation Exemption, the latter of which would establish a 5-year sandbox allowing US equities to be traded on decentralized exchanges and with liquidity providers.
John Reed Stark, former head of the SEC's Office of Internet Enforcement, believes the regulatory push exceeds the SEC's authority and bypasses congressional power. Paul Atkins stated that more regulatory proposals are coming and that he will continue to assist President Trump in promoting the US as the global capital of cryptocurrency. (Bitcoin.com News)
Odaily News: The U.S. Securities and Exchange Commission (SEC) has approved a rule change by Cboe BZX Exchange to allow investment management firm Volatility Shares LLC to issue a 3x Bitcoin futures ETF and five other leveraged commodity products.
The product suite also includes a 3x Ether ETF, as well as gold, silver, crude oil, and natural gas products. The Bitcoin strategy aims to achieve 3x the benchmark's daily futures performance, before fees. A 1% increase in the benchmark corresponds to a 3% target gain, while a 1% decline corresponds to a 3% target loss.
The products gain exposure through futures contracts rather than directly holding Bitcoin, and daily compounding may cause long-term performance to deviate from the benchmark's cumulative return. Trading of the products must commence after the registration statement becomes effective, with each product issuing at least 100,000 shares at market open and calculating the net asset value per share daily. (Bitcoin.com News)
