After Bitcoin dropped to around 71400 yesterday, it started to rebound. Early this morning, it made another attempt to reach a new high but only touched 72900 before pulling back. The current price is around 72300. Looking at the intraday situation, Bitcoin is expected to fluctuate at a high level. Today is also the last day of October, and the monthly line will close tomorrow. The strong performance in October has already reversed the trend, and we are looking forward to the market in November. Today's operation will still focus on low long positions.

Key Points of Attention

Support Levels 71700 70800

Key Insights

(At 8:30 PM Beijing time tonight, the US will announce the year-on-year core PCE price index for September (expected to be 2.6%) and the number of initial jobless claims for the week ending October 26 (expected to be 230,000). If the core PCE exceeds expectations, it will indicate that inflation pressure remains significant, potentially triggering market expectations for a Federal Reserve interest rate hike, which would support the dollar and put pressure on the stock market and gold; conversely, if it is below expectations, it may indicate a moderation in inflation, supporting the stock market and applying pressure on the dollar.

Similarly, if the initial jobless claims exceed 230,000, it may suggest a weakening labor market, alleviating market worries about interest rate hikes; on the other hand, employment data that is below expectations will indicate market resilience, possibly leading the Federal Reserve to maintain a hawkish stance, thereby boosting the dollar and negatively impacting risk assets.