Bitcoin Price Surges to $97,000

U.S. Democratic Senator Elizabeth Warren has submitted a series of inquiries to Treasury Secretary Scott Bessent regarding the U.S. Treasury Department’s recent "unprecedented and chaotic" interventions in the U.S. Treasury market. Warren asked Bessent to clarify how the Treasury plans to fund Treasury repurchases by reducing its cash balance, and what measures it will take to lower long-term U.S. Treasury yields. She also questioned whether the Treasury has evaluated the impact of rising long-term U.S. Treasury yields on consumer borrowing costs, including auto loan and mortgage rates.

As the market drops, Machi(@machibigbrother)'s 39,025 $ETH ($99.8M) long is close to liquidation, with a liquidation price of $2,501.38.

Oct 7 Update: #Bitcoin ETFs: 1D NetFlow: +1,268 $BTC(+$105.43M)?? 7D NetFlow: +1,714 $BTC(+$142.56M)?? #Ethereum ETFs: 1D NetFlow: -75,628 $ETH(-$193.41M)?? 7D NetFlow: -149,200 $ETH(-$381.56M)??

According to HTX market data, Bitcoin has fallen below $83,000, with a 4.02% decline over the past 24 hours.

According to BIT (bit.com) market data, as US stock markets opened, optical communication concept stocks led the declines. Astera Labs (ALAB) fell 6.46%, Applied Optoelectronics (AAOI) dropped 5.77%, Coherent (COHR) down 4.98%, Nokia (NOK) down 4.06%, and Credo (CRDO) down 3.97%. Neocloud stocks all trended lower: Hut 8 (HUT) fell 4.99%, Galaxy Digital (GLXY) down 4.94%, Nebius (NBIS) down 4.64%, TeraWulf (WULF) down 4.48%, Applied Digital (APLD) down 4.34%, and CoreWeave (CRWV) down 2.88%. Most semiconductor stocks declined: Lam Research (LRCX) down 2.99%, Arm (ARM) down 2.63%, Marvell Technology (MRVL) down 1.99%, and AMD down 1.16%. All storage stocks fell: SK Hynix (SKHY) down 2.60%, Western Digital (WDC) down 2.32%, Micron Technology (MU) down 2.04%, and Seagate Technology (STX) down 1.46%.

According to BIT (bit.com) market data, US stocks opened, with the Dow Jones Industrial Average down 0.62%, the S&P 500 index down 0.45%, and the Nasdaq down 0.61%. The storage sector fell across the board, with Micron Technology (MU.O) down over 3% and SK Hynix (SKHY.O) down over 2%.