Crypto Fundraising Hits $3.5B Before Bitcoin 13.7% Crash
Crypto fundraising reached a record $3.5 billion across 28 rounds in the week ending October 8, driven by 12 blockchain services deals and six CeFi investments. Pantera Capital led with four funding rounds, while Coinbase Ventures maintained its yearly lead with 73 investments. The surge coincided with Bitcoin’s peak at $126,000 on October 6 before U.S. tariffs on China triggered a 13.7% sell-off, dropping BTC to $105,000 and liquidating nearly $20 billion. Despite volatility, robust crypto fundraising signals strong long-term growth potential in blockchain services and DeFi. Traders should watch sector funding trends and manage risks amid ongoing Bitcoin price swings.
Bearish
In the short term, the 13.7% Bitcoin sell-off and nearly $20 billion in liquidations create immediate bearish pressure, driving volatility and risk aversion. Although record crypto fundraising highlights long-term confidence in blockchain services and DeFi, the sharp price drop from $126,000 to $105,000 is likely to dampen trader sentiment and increase caution. Overall, the net effect on Bitcoin’s price is bearish, as the crash outweighs fundraising optimism in market impact.