Bitcoin hits new ‘all-time high’ as Square announces payments & wallets solution
Key Takeaways
Why is that this essential information?
Sq.’s Bitcoin funds launch marks a significant step in Jack Dorsey’s years-long push to make the cryptocurrency mainstream.
How are Bitcoin’s buyers taking the information?
Knowledge revealed rising accumulation amongst buyers, with constructive ETF inflows too.
Sq. is within the information at present after it unveiled its first absolutely built-in Bitcoin [BTC] funds and pockets system. It would permit small companies to simply accept BTC instantly at checkout. This transfer marks a major milestone in Jack Dorsey’s long-term imaginative and prescient for Bitcoin.
The brand new Sq. Bitcoin suite, announced on 8 October, permits retailers to simply accept Bitcoin funds with zero processing charges for a yr. It would robotically convert gross sales into BTC and maintain or withdraw BTC inside Sq.’s dashboard.
It builds on Block’s broader dedication to Bitcoin — One which started years in the past with Money App’s BTC integration and Dorsey’s constant push to make Bitcoin the “native foreign money of the Web.”
By integrating Bitcoin funds with on a regular basis enterprise instruments, Sq. is attempting to rework BTC into usable enterprise capital. Somewhat than only a speculative retailer of worth.
ETF inflows spotlight institutional confidence
The timing of this replace is value noting right here. Particularly because it comes on the again of Bitcoin Spot ETFs recording seven straight days of inflows – Over $5.3 billion within the final 7 days.
Its newest surge has pushed the full BTC ETF belongings beneath administration to $164.9 billion – An indication of sustained institutional urge for food.
Supply: Sosovalue
Collectively, Sq.’s real-world integration and rising ETF inflows reveal Bitcoin’s rising maturity, from a retail asset to an asset worthy of institutional and industrial infrastructure.
Mid-tier buyers quietly accumulate
Lastly, on-chain knowledge from Glassnode revealed that addresses holding between 100 and 1,000 BTC (Shark wallets) climbed to an all-time excessive just lately.
They’re now holding over 5.1 million BTC. This mid-tier cohort, which frequently contains smaller establishments and crypto funds, has been steadily accumulating for the reason that center of Q2 in 2025.
Supply: Glassnode
Traditionally, such accumulation phases have preceded main value expansions – A sample final seen earlier than Bitcoin’s 2020–2021 rally.
Brief-term cooling amid bullish backdrop
Regardless of the aforementioned optimism, Bitcoin’s value has corrected by over 2% within the final 24 hours on the again of some profit-taking. Derivatives markets are additionally seeing a hike in Open Curiosity and funding charges, hinting at potential short-term overheating.
And but, RSI ranges round 60 appeared to allude to wholesome consolidation. This may hold the broader uptrend intact as adoption deepens throughout each institutional and retail layers.
