Todays Top Stories

HBO | Institutions are in, now Government FOMO hits!

Now that we’ve seen institutions firmly embrace Bitcoin for over half a year with their Spot Bitcoin ETFs, Bitcoin commercials, ever-expanding financial Bitcoin services, and fund CEOs promoting Bitcoin on a near-weekly basis, the question arises: What’s next?

Since the acceptance of Spot Bitcoin ETFs, we’ve not only seen its price go up but also its legitimacy—not without resistance, of course, on both fronts. This combination of traits has seemingly increased the appetite for Bitcoin from another wealthy group of entities: nations, governments, and governmental institutions. They have massive reserves to protect from the perpetual inflation cycles they themselves have created. Recently, we’ve seen countries across the globe warm up to crypto adoption. Will this be a classic “slow at first, then all at once” moment? And if so, what will this mean for Bitcoin?

Let’s just review a few of the recent developments from the last few weeks:

• Japan is reviewing the crypto sector and could be opening the door to lower taxes and dedicated ETFs.

• Hong Kong is gearing up to approve more cryptocurrency exchanges.

• Taiwan is set to trial crypto custody services through local banks in 2025.

• Bhutan is reshaping its economy with a heavy focus on Bitcoin mining.

• Dubai removes its VAT on crypto transactions and is seeing increasing acceptance for crypto salaries.

• And last but not least, we have the rumor of Donald Trump instating a Bitcoin Strategic Reserve if he wins the elections, something proposed by Senator Cynthia Lummis this summer.

It’s well-known that many countries and government back corporations are trying to adopt Bitcoin in their own way, and not all of them are equally efficient or successful. But once they find the right model, this could spark a whole new type of bull run—especially when the first of the larger global economies, who are usually the slowest to innovate, makes its move.

I repeat: “slow at first, then all at once”

This article was inspired by two speakers during Bitcoin Amsterdam, linked below. Let the global nation and government FOMO commence!

Daily Alpha | Inside Bitcoin Amsterdam

XO News Lead, PhoenixxDown, co-hosted one of the hottest side events in Amsterdam last night—the 10K Ordinals party.

The event, a celebration of all things Ordinals, with a special focus on early inscriptions, was organised by Ordinal Penguins, Punks on Bitcoin, Ordinal Rabbits, Pizza Ninjas, and Liquidium.

Phoenixx was part of a panel discussion about the early days of Ordinals, reflecting on a time when spreadsheets were the main tool, and the risk of being scammed in an OTC deal was high.

His closing statement? In response to others cautioning with “not financial advice,” he boldly advised: “Bet more… This is actually financial advice. For once, you’re early. Your bloodline depends on you.

Daily Alpha | A Quick Reminder: STAY SAFE!

We want to remind our readers to be mindful when displaying wealth and to stay vigilant during events like Bitcoin Amsterdam. With the upcoming bull run, resist the urge to flex too much, or at least be very aware of the associated risks.

Daily Alpha | Wow… Just wow!

We want to congratulate Cath Simard on inscribing this 24.6M pixel, 3.78 MB masterpiece:

“the largest landscape photography artwork on BTC.”

Always happy to see a genuine artist choose the best possible data preservation medium to immortalise their beautiful art! Hats off to you, miss 🫡.

Unchained Art | Todays Editors Pick

Once again Beehiiv rugs on of our X-links so it’s just an image, but this one from bzEus is worth sharing.

Daily Bites

Todays Markets

Landy.degen Chart of the day

Our interpretation: Ranging in the recovery zone… Could this be the rebound we need before the blast-off?

Ordinals

After a grim day yesterday with just one green number on the board, today shows a more balanced Ordinal Collection market. Puppets, which have been consistently taking the top spot by volume among the OG collections, are once again on top, accompanied by a 3% price increase. Notably, Puppets were also the only winner yesterday and seem to be slowly solidifying their position as king among the OGs, for now. Congrats to anyone who held or, better yet, bought during the “It’s all over” summer period.

Frogs reclaimed some of their major loss from yesterday with a healthy 6.3% gain, and Bitmap also shows some strength after a few fluctuating days.

The big winner today, however, is Bitcoin Wizards with a 25.6% move upwards!

Sadly, the overall volume for collections is still lagging behind Runes in a big way, which have increased even more on that front today.

Runes

Runes seem to be unstoppable, hitting new all-time highs across the board! Massive volume boosts all winners with considerable power! Green, green, green—except for RSIC, which lost for the second day in a row. Whether this is just speculation around Runes listing on major exchanges or something bigger is hard to say, but based on its gradual increase before yesterday’s Coinbase news, I think most of this is organic and reflects sustainable growth in interest in the BTC memecoin ecosystem.

While Peter Todd vanished from the chart as quickly as he entered, as we speculated yesterday, Billy sets a massive new ATH well above 130 sats. Saiko similarly bursts through its old all-time high, now at 523 sats.

Many other Runes, like Pups and Pengu, are closing in on their ATHs, but haven’t quite hit them yet.

The recently launched Ribbit and Panda both find and retain their positions at their highs.

Many other lower volume runes all saw rises in their price today. Let’s see how long this massive volume sustains, or better yet, how far we can rise from here, because in general memecoin terms, almost all Runes are still tiny in Market Cap.

Todays Opportunities

ExtraOrdinals Whitelisted mints this week

This weeks list of hyped mints for our ExtraOrdinal giveaway winner.
If you won, and you’re feeling bullish, load up those wallet but always stay safe while minting!

Giveaways

• Uncoded (GTD) - Ends Thursday 10th Oct 20:06 UTC

• Uncoded (FCFS) - Ends Thursday 10th Oct 20:08 UTC