The market sentiment has shifted positively in October 2023, fueled by rumors of a potential spot ETF approval from the SEC and indications that inflation may have peaked.

The SEC's approval of options trading for BlackRock's spot Bitcoin ETF has significantly heightened market interest, with these ETFs accumulating $60 billion in assets within just nine months.

Bitcoin ETFs now represent approximately 4.6% of the total Bitcoin supply, reflecting a growing interest from major financial institutions like BlackRock and Fidelity.

Currently, Bitcoin is trading around $62,000, facing resistance at $65,000, and requires stronger buying pressure for another attempt at that level.

In contrast, Ethereum's price saw a spike to $2,470 overnight before settling at $2,463.51, although it has recently decreased by 1.51%.

Despite a generally cautious investor sentiment, last week saw digital asset investment products experience outflows of $147 million, reversing a trend of three consecutive weeks of inflows.

Grayscale's GBTC and six other ETFs reported no new inflows, suggesting a potential shift in investor preferences amidst changing market conditions.

Investors are encouraged to explore altcoins like Rexas Finance and Ripple, which are seen as promising opportunities for potential gains.

Key macroeconomic data, including the consumer price index (CPI) and producer price index (PPI), is set to be released this week, which could further influence market dynamics.

Expectations for a less dovish Federal Reserve have contributed to market declines, with the probability of steady interest rates in November rising significantly.

A significant whale transfer of 4,000 BTC, valued at approximately $255 million, has sparked speculation and influenced recent market activity.

High levels of unrealized profits in the market could lead to selling pressure, as traders may seek to take profits, while negative Non-Realized Profits could indicate a market bottom and potential buying opportunity.