Crypto markets were shaped by policy moves from Greece and the United States, large government transfers of seized Bitcoin, and volatile flows into spot Bitcoin ETFs, while geopolitical developments helped push Bitcoin back toward $82,000.
Greece proposes 10% tax on crypto gains
The Greek Ministry of National Economy and Finance has opened a public consultation on a bill that would tax individual capital gains from transfers of crypto assets at 10%, with an annual tax-free allowance of €500. Under the proposal, swapping one crypto asset for another would not trigger taxable capital gains, while returns from lending, liquidity provision and staking would be treated and taxed as interest at 10%. The draft does not introduce a Digital Transaction Tax. It also includes a voluntary disclosure window allowing taxpayers to declare past capital gains within 12 months without penalties. The consultation runs until October 22 and the government aims to take the bill to a vote in the first week of November.
US government moves seized Bitcoin but sale not confirmed
U.S. government wallets tied to Bitcoin seized in the Bitfinex hack moved a total of 12,267 BTC, valued at about $1.01 billion, to a new, unlabeled address, according to Arkham. Earlier the same day, transfers totaling roughly $770 million were recorded into a Coinbase Prime wallet; Coinbase Prime is a custody and execution service. Those transfers do not, on their own, confirm that the coins were sold. An executive order from March 2025 directs seized Bitcoin into a reserve that is not intended for sale. The government is reported to still hold around $24.85 billion in Bitcoin.
Spot Bitcoin ETFs suffer heavy outflows
Spot Bitcoin ETFs experienced significant redemptions on Wednesday, with total outflows of $484.9 million, the largest single-day outflow since June 25. BlackRock’s IBIT saw $207.7 million leave, while Fidelity’s FBTC recorded $105.1 million in outflows. That single session erased about 81% of the inflows recorded over the previous nine days and left net flows for October at negative $163.3 million. Despite the pullback, cumulative net inflows into spot Bitcoin ETFs remain positive at $57.8 billion.
Bitcoin price rebounds amid easing geopolitical fears
Bitcoin rebounded to around $82,000 after former U.S. President Trump stated the United States would not attack Iran before the November midterm elections, a comment that coincided with a decline in oil prices and reduced selling pressure near $80,300. Market commentators noted immediate technical support near $81,000 and resistance at $82,000; a move below $80,316 would, they say, raise the likelihood of further downside.
How these stories connect
The day combined regulatory and fiscal developments with on-chain movements and market flows. Greece’s proposed tax framework, if adopted, would create a clearer tax treatment for individual crypto holders and specify how different crypto activities are taxed. At the same time, large transfers of seized Bitcoin and outsized ETF outflows increased attention on supply dynamics and investor behaviour. Geopolitical statements that influenced oil and risk sentiment also fed into near-term price action for Bitcoin.
Taken together, the headlines underscore a market sensitive to policy signals, big custody moves and short-term macro and geopolitical news, with traders watching both regulatory calendars and on-chain transfers for direction in the weeks ahead.