A week ahead.

This week's market has been running above the middle line of the downward parallel channel as previously anticipated in the last two weeks; and has broken through the upper edge of the parallel channel in the past 4 days; currently running normally above ma30 and 60, with a healthy trend; in the coming week, Bitcoin faces resistance at the previous high of 70000-74000, and the market may have a short-term pullback demand.

One week macro.

In the new week, three important economic data points will be released, which may have a significant impact on market volatility.

  • 10/23 20:30 US EIA crude oil inventory for the week ending October 18.

  • 10/24 4:00 Japanese Bank Governor Ueda Kazuo speaks at the IMF-hosted 'Presidents' Dialogue'.

  • 10/24 20:30 US initial jobless claims for the week ending October 19.

  • 10/25 22:00 US Michigan University Consumer Confidence Index final value for October.

Regarding the interest rate decision on 11/7:

The probability of a 25 basis point rate cut is: 92.3%, and the probability of a 50 basis point rate cut is 0.

Macro-wise, there haven't been many changes this week.

Weekly data.

On the data front, I have observed quite a bit; today we mainly look at the following four:

1, stablecoin data.

2, changes in Bitcoin balance in CEX.

3, comparison of public chain TVL performance.

4, Bitcoin market capitalization share.

  • Stablecoin data.

In the past week, stablecoins have still seen a slight increase (as shown in the white box in the above image);


  • Changes in Bitcoin and Ethereum balances in CEX (centralized exchanges).


Bitcoin balances continue to decline, indicating that more Bitcoin is being transferred from exchanges to wallets.

Ethereum exchange balances have increased in recent rises, and overall they are at a relatively high level compared to the past 3 months.

  • Performance of public chain TVL.




In terms of changes in public chain TVL, there isn't much difference from last week, with the incremental order being: SUI > BASE > Solana > ETH.


  • Bitcoin market capitalization share.



From the first chart, it can be seen that Bitcoin's market capitalization share continues to be in an upward phase, still maintaining a dominant position.

From the second chart, it can be seen that the market capitalization of the top 10, top 50, and top 100 is on a downward trend, indicating that the altcoin market has not truly begun to surge and has not formed an offensive.

The above are the current data highlights for this week.

The bull market is beginning to emerge. If you’re not suitable for holding Bitcoin, but want to invest in altcoins for higher returns but don’t know which coin to choose, then observe the leaders and plan your layout for the entire bull market.
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