1. Macroeconomic and Regulatory Dynamics
1️⃣ CFTC launches digital asset collateral pilot.
The U.S. CFTC has launched a pilot program for digital assets, allowing BTC, ETH, and USDC to be used as collateral in the derivatives market.
This is the first time the U.S. has officially allowed major crypto assets to be used for derivatives settlement, indicating improved liquidity and increased institutional participation.
2️⃣ OCC (Office of the Comptroller of the Currency): will not resist crypto due to bank complaints.
The OCC has stated that it will not restrict crypto innovation due to bank complaints.
The future acceptance of crypto assets by the U.S. banking system is a positive signal.
3️⃣ Top U.S. bank CEOs will discuss crypto legislation with senators.
Signifies that the crypto regulatory framework may enter the legislative fast lane.
4️⃣ BIS: U.S. tariff policy raises global foreign exchange trading volume
Increased volatility of the dollar may affect global risk asset liquidity.
II. On-chain and institutional trends
1️⃣ Sovereign funds are buying on dips in the $80,000 range for BTC
BlackRock CEO Larry Fink reveals that multiple sovereign funds have bought BTC.
Further confirmation of national-level institutions' long-term allocation willingness for BTC.
2️⃣ BitMine: Invested $429 million to acquire ETH
Large institutions increasing their holdings provides substantial support for ETH.
3️⃣ Whales withdrew 5,000 ETH
Withdrawals from Kraken are mostly signals of 'long-term holding or participation in DeFi'.
III. Cryptocurrency and platform-related news
1️⃣ Ripple: Singapore expands licensing to provide XRP and RLUSD services
Strengthening its global payment layout is long-term bullish for XRP.
2️⃣ Coinbase includes Theoriq (THQ) in its listing roadmap
New potential cryptocurrency, short-term liquidity expectations may arise.
3️⃣ Hyperliquid announces a $30 million stock buyback plan
Favorable for platform confidence and market capitalization stability.
IV. Market conditions reminder
BTC fluctuates around $90,000;
Recently, multiple sovereign funds have been reported to buy, and institutional inflows are warming up.
ETH is close to the 3030–3041 main support area.
If it stabilizes, it is expected to rebound near the 3170 moving average resistance.
V. Other macro events
IBM will acquire data streaming platform Confluent for $9.3 billion.
(Greater impact on AI and big data industry, generally less correlated with crypto)
The U.S. Bureau of Labor Statistics will not release October PPI data.
(The market's short-term reference for inflation has decreased, which may increase volatility)
📌 Summary: The U.S. regulatory environment has clearly warmed up + institutional funds are flowing back + key support for ETH is approaching
The overall market is bullish, but there are still fluctuations affected by macro interest rates and dollar volatility.
