Evening Interpretation
Today's market performance was quite unexpected, especially during the Asian session when Bitcoin (BTC) rose from 62,500 to 64,500. As tensions between North and South Korea intensify, South Korea faces the risk of won depreciation, which may drive funds into the crypto market, and crypto assets become a safe-haven tool. At the same time, the domestic situation is not calm, and the Eastern Theater Command issued a notice of island-encircling exercises. Although the situation is tense, the domestic main line is still economic stimulus policies. On October 12, the Ministry of Finance hinted that there will be a large-scale release of water, and the market expects that up to 5 trillion funds will flow in, including the stock market, the property market and the crypto market, driving Bitcoin up.
In addition, the United States has no heavy economic data this week, and the only focus is on Thursday's unemployment data. Trump used the "assassination attempt" incident to win voter sympathy, combined with Musk's SpaceX success, it seems to help Trump's election. At present, the market expects Trump's chances of being elected to increase, which may further promote the growth of the crypto market.
In terms of the global situation, North Korea issued a shooting combat preparation instruction, and South Korea also responded militarily. At the same time, the conflict between Israel and the UN peacekeeping force in Lebanon escalated, and the US military supported Israel. These geopolitical tensions could exacerbate global risk aversion and drive more money into crypto assets such as Bitcoin.
In terms of domestic policy, steel companies' price increases show that the government is stimulating the economy by creating inflation. The increase in large infrastructure projects and government spending indicates that more money will flow into the market. Due to the uniqueness of Bitcoin as a global asset, this part of the money may enter the crypto market and drive prices up.
Over the weekend, the altcoin market remained active, especially the meme track. $GOAT, the AI meme coin supported by a16z, exceeded $100 million in market value in just 5 days. The meme coin track attracted a lot of funds, and new generation players such as @ansem and @MustStopMura gradually emerged. Similar to meme coins, the rune and inscription sectors have performed strongly recently, providing investors with a good choice.
Overall, today's Bitcoin rise is the result of multiple factors: domestic expectations of water release, rising global risk aversion, and funds looking for safe haven assets. This wave of rise may just be the beginning, and the crypto market may usher in more positive news in the future.
