Key Takeaways
Why is this important news?
The launch of Square for Bitcoin payments marks a major step in Jack Dorsey’s years-long push to take the cryptocurrency mainstream.
How are Bitcoin investors taking the news?
Data pointed to growing accumulation among investors, with positive ETF inflows also seen.
Square is in the news today after unveiling its first fully integrated Bitcoin [BTC] payments and wallet system. This allows small businesses to accept BTC directly at checkout. This move marks an important milestone in Jack Dorsey’s long-term vision for Bitcoin.
The new Square Bitcoin suite, announced On October 8, merchants will be able to accept Bitcoin payments without processing fees for a year. It will automatically convert the sales into BTC and hold or record BTC in Square’s dashboard.
It builds on Block’s broader commitment to Bitcoin – a commitment that began years ago with Cash App’s BTC integration and Dorsey’s consistent effort to make Bitcoin the “internet’s own currency.”
By integrating Bitcoin payments with everyday business tools, Square aims to turn BTC into usable business capital. Instead of just a speculative store of value.
The inflow of ETFs underlines institutional confidence
The timing of this update is worth mentioning here. Especially since this is because Bitcoin Spot ETFs are recording seven consecutive days of inflows – more than $5.3 billion in the last seven days.
The latest surge has brought total BTC ETF assets under management to $164.9 billion – a sign of continued institutional appetite.
Source: Sosowaarde
Together, Square’s real-world integration and rising ETF inflows demonstrate Bitcoin’s growing maturity, from a retail asset to an asset worthy of an institutional and commercial infrastructure.
Mid-market investors are quietly accumulating
Finally, on-chain data from Glassnode revealed that addresses holding between 100 and 1,000 BTC (Shark wallets) recently rose to an all-time high.
They now own over 5.1 million BTC. This mid-market cohort, which often includes smaller institutions and crypto funds, has been growing steadily since the middle of the second quarter of 2025.
Source: Glassnode
Historically, such accumulation phases have preceded major price increases – a pattern last seen before Bitcoin’s 2020-2021 rally.
Short-term cooldown in a bullish backdrop
Despite the aforementioned optimism, Bitcoin’s price has corrected by more than 2% in the past 24 hours thanks to some profit-taking. The derivatives markets are also seeing a rise in open interest and funding rates, signaling potential short-term overheating.
And yet, RSI levels around 60 seemed to hint at healthy consolidation. This could keep the broader uptrend intact as adoption deepens across both institutional and retail tiers.