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$COIN has reported GAAP losses for three consecutive quarters, with a loss of $1.36 per share in Q2. This figure is very likely to turn positive in Q3, around $2 per share. The business itself hasn't changed much; what changed is a separate line under operating income called “Losses (gains) on crypto assets held for investment, net.” Coinbase holds a batch of Bitcoin and Ethereum, claiming long-term holding, accounted for at fair value. At the end of the quarter, the coin prices fluctuate, and the difference goes directly into the income statement. From Q4 2025 to Q2 this year, coin prices have been declining continuously, resulting in a combined loss of $1.41 billion over three quarters in this line. How sensitive this line is was calculated by the company itself in the Q2 10-Q: A hypothetical 50% increase or decrease in crypto asset prices as of June 30, 2026 and December 31, 2025 would result in a $734.2 million and $1.0 billion impact, respectively, to the value of our Crypto assets held for investment and woulThis wave of big coin $BTC and second coin $ETH short positions really paid off! I said earlier that a hawkish pause doesn't mean a shift to dovish; the rebound should be seen as a correction, with the overall big picture still bearish. As a result, BTC once dropped below 80,000, hitting a low of 79,709, and ETH was even weaker, bottoming at 2,294. Yesterday's rebound was pushed back! Looking at tonight's US data, Q3 GDP annualized growth was 3.4%, higher than expected; September overall PCE year-on-year was 3.6%, core PCE year-on-year was 3.1%, roughly in line with expectations; initial jobless claims dropped to 194,000. The data didn't bring extra inflation scares, but the economy is strong enough, employment hasn't worsened significantly, and the Fed hasn't closed the door on a December rate hike. It's not that easy for the market to turn around based on macro news! On the last trading day, BTC spot ETF net inflow was $137 million, while ETH ETF saw a net outflow of about $21.4 million, showing clear divergence in capital flow. My judgment remains short-term bearish and overall bearish! BTC is expected to test 79,700–79,200, ETH around 2,300. Nearly $11.7 billion in BTC/ETH options expire tomorrow, so don't rush to bet on direction in the short term! Don't blindly short at support levels; wait for a confirmed break of key levels and failure to reclaim on a rebound before considering action! $SNDK Seeing the news about a whale making a large stop-loss exit, I wonder if anyone else feels as mixed as I do.
A big player had a long position in SNDK, holding on stubbornly for a full thirty days. Finally, in the early hours today, they couldn’t take it anymore and chose to liquidate everything. The entry cost was $1814, but the exit price dropped to only $1247, a loss of 31.3%. Just closing the last 5,000 contracts resulted in a loss of $2.83 million, with the entire trade totaling a $4.58 million loss—tens of millions in assets shrank like that, almost like a luxury home turning into vapor.
Since entering on September 23, the market trended downward all the way, and every day they had to endure the psychological torment of unrealized losses. The prolonged internal struggle eventually wore down their confidence in holding the position.
In the face of market trends, everyone is equal—even whales with huge capital have no privileges. Holding against the trend and refusing to admit mistakes won’t make the market go easy on you just because you have deep pockets. This incident serves as a reminder to all traders: set your stop-losses in advance and don’t stubbornly hold onto losing positions hoping for luck. #闪迪存储业务高增长能否延续？ 📊 US GDP Growth Accelerates, but BTC Pulls Back
🇺🇸 US Q3 GDP growth rose to 3.4% from 2.2% in Q2, yet BTC and ETH failed to sustain their post-data gains.
🔹 BTC: Holding near $80,000. Resistance at $80,275–$80,375; support at $80,015.
🔹 ETH: Trading around $2,321. Resistance at $2,331–$2,335; support at $2,317, then $2,305.
🎯 Outlook: The market remains directionless after the data release. Watch hourly closes for confirmation and avoid reacting to sudden wicks.🔥 Will the big players follow my script?
Main script (Main force first choice: fake rally to lure longs → surge then fall to crush the market)
1. First lure longs with a rise
Price first slightly rebounds from 2340 to 2390–2405, repairing indicators to trick retail investors into chasing longs and bottom-fishing.
Precisely pressured and crushed
Touches 2400–2410 resistance with a long upper shadow and then falls back.
🔺 Short position range: 2390–2405 Stop loss: 2425
• First target: 2280 break to sweep longs
Alternative script (Extremely weak trend: no rebound, direct slow decline)
Rebound fails to surpass 2350, directly breaks below 2280
🔺 Pullback 2275–2280 to chase shorts Stop loss 2305
• Target: 2230 → 2150
2. Deep liquidation
Break 2280 and directly drop to 2230, a dense leverage liquidation zone
3. Two possible follow-up trends
❤️🔥 Strong short: 2230 support fails, dips to 2150 for extreme shakeout and accumulation, this probability is very small 
❤️🔥 Bottom grinding: 2230 stabilizes, returns to 2280–2400 range with repeated double sweeps and oscillation
Alternative script (Extremely weak trend: no rebound, direct slow decline)
Rebound fails to surpass 2350, directly breaks below 2280.
🔺 Pullback 2275–2280 to chase shorts Stop loss 2305
• Target: 2230 → 2150
⚠️: BTC has not stabilized above 2423, all the rises are fake rallies to lure longs#SamsungQ3RecordProfit
Delivering KRW 107.4T in operating profit highlights staggering monetization of the AI boom. The net profit delta is just trailing noise—the real market signal is the rapid commercial volume in HBM4 architecture and solid multi-year supply visibility. Samsung has effectively secured premium pricing power well into the late-decade horizons.
$SAMSUNG Today, the market called you three times, and you didn't listen.
I reviewed today's market from start to finish, and the more I look, the more interesting it gets.
At 2 a.m., the first call. The Fed didn't raise rates, but 2 out of 12 members voted against, thinking it should have been raised this time; the statement changed the economy description from "solid" to "strong"; Waller openly said inflation is still far from 2%. This clearly tells you no move in October, December is uncertain.
Then during the day, the second call. BTC at 80,000, ETH at 2,320, no rebound all day, slowly grinding down. Good news landed but no rise, that itself is the answer.
At 8:30 p.m., the third call. Core PCE at 3.1%, seemingly meeting expectations, but the previous value was only 3.0% and is rising; overall PCE at 3.6%; initial jobless claims at 194,000, lower than expected. Inflation rising and strong employment provide all the reasons for a December rate hike, all gathered in one day.
After three calls, BTC is still 80,000, ETH still 2,324.
You think this means it won't fall and is stabilizing? No, it means those who should leave haven't left yet. The market's best skill is to give you everything you've accumulated in one go when you relax.
I'm holding short positions, not chasing tonight, waiting for it to choose its own direction.
#美国9月核心PCE升至3.1%，加息预期仍高 Guys look at this price action, this sell-off is brutal, bulls just got completely wiped out! Any small bounce now is just a bull trap, anyone rushing to bottom-fish and go long will get instantly trapped. Want to flip bullish? It's not totally impossible, unless it suddenly rips and holds above, but right now selling pressure is pouring down like it's free — that would be as hard as climbing to heaven. A-Jiao's game plan is crystal clear — just follow the trend and short. Resistance around 81,2Google's Q3 earnings report disappointed the market greatly. AI has brought growth opportunities but has also started to disrupt the previously most profitable search advertising model. Search ad revenue fell short of expectations, while AI investments continue to increase, putting growing pressure on cash flow. The market's concerns are understandable, but the sell-off has been so brutal—could it be somewhat oversold? $GOOGL $BTC Bitcoin fell below 80,000, and the long-awaited shoe has finally dropped.
Before the interest rate meeting, the market had already adjusted for several days, and everyone was waiting for the moment the result came out. Today, all the negative news that needed to be revealed has been laid out. BTC dipped to just above 79,000, then was pulled back above 80,000 — at the 80,000 mark, there is clearly real money buying on the downside. The suspense is gone, and that is more important than anything else. Clearing out floating chips and sufficient turnover, fully discounting the bad news in one drop, often gets closer to a turning point than a grinding downtrend. Besides, there are only two days left in October, and in the past decade-plus, Bitcoin has mostly ended October with gains. This round of consolidation seems to be making room for the end-of-month rally. $ETH #Bitcoin has tested the 80,000 support level for 5 consecutive days. Whether this support holds depends on whether the funds cooperate! #The Federal Reserve keeps interest rates unchanged, with divergence on December rate hikes intensifying. On Wednesday, #BTC ETF data was released, showing a net inflow of 137.3 million in a single day, marking the third trading day of net inflow this week. The net inflow was slightly stronger but weaker than Tuesday's net inflow. The net inflow of funds mainly came from IBTI, followed by a small net inflow from BIBT. The optimistic buying sentiment from institutional users on Wednesday did not spread and still relied too much on IBTI as the main channel. Comparing the crypto market data with yesterday's, market cap share and trading volume showed no significant changes, but the total market funds had a net outflow of 500 million, with USDT net outflow of 819 million and USDC net inflow of 200 million. There is a clear divergence in fund flows between the Asian and US crypto markets. As I often say—price trends need data support. So far, within a week, $BTC has tested the 80,000 support level 5 times consecutively, and in the short term, the support is effective. However, the funds are not absolutely optimistic. ETF institutional users started to return funds from Monday this week, but net inflows slowed on Wednesday and did not continue to expand, showing a decline in optimism. Meanwhile, local crypto funds continue to have net outflows, and the magnitude of crypto fund outflows far exceeds ETF net inflows. Observing the data, Asian USDT funds have recently shown significant net outflows. Obviously, local crypto users and institutional users, Asian funds and US funds are in a tug of war, and the goalThis round's drop is not about interest rates, but about expectations. The interest rate is held at 3.75%—4.00%, with a vote of 10 to 2, and those two votes want a rate hike—the shadow of December's move still hangs overhead. Risk assets all let go together; oil and gas are at a five-month high, AI and tech stocks were hit first, crypto followed, with $651 million long positions liquidated in two days. I've seen this scene many years: the decision itself is never the killer, it's the expectation gap. Those who wanted to sell have already done so in these two days; next is a test of who can hold on. Let's review the last round. BTC long from 80,232.85 to 80,319.90 (+0.11% profit), take profit at 81,258.53, stop loss at 79,617.44, neither hit, successful. ETH long from 2,325.20 to 2,326.90 (+0.07% profit), take profit at 2,369.87, stop loss at 2,298.40, not triggered, successful. LINK long from 11.53 to 11.65 (+1.07% profit), take profit at 11.88, stop loss at 11.32, not triggered, successful. All three trades hit, but with small profits—the first leg of the rebound from oversold positions is a recovery, not a main rise, which I noted in the previous round. This round, three picks. 1. BNB long, entry at 744.60, stop loss at 735.87, take profit at 759.14. The whole basket fell 0.1% to 4.9%, it only moved 0.82 You enter the market according to plan, set reasonable stop losses, and have no issues with position sizing, yet you may still end up losing money. Conversely, you impulsively chase a trade, even stubbornly hold on when you should stop loss, and then the market suddenly reverses, resulting not only in no loss but also a profit.
Putting these two experiences together:
The first trade was done correctly in process but resulted in a loss; the second trade was done incorrectly in process but ended up profitable. If you only look at the money, it's easy to draw completely opposite conclusions.
The right actions are doubted because of losses; the wrong actions are reinforced because of profits.
This is one of the hardest things to learn in trading.
If someone stubbornly holds on several times and recovers each time, it's hard for them to truly believe in the importance of stop losses. Because in their experience, stubbornly holding on hasn’t been useless; it has repeatedly helped them solve problems. Until one time the market doesn’t come back, they realize that past successes might have just been risks not yet exposed.
Similarly, when someone just learns trend trading and experiences several consecutive stop losses, it’s easy to feel that this method simply doesn’t work. They don’t realize that some strategies inherently require enduring a series of small losses to wait for a few larger profitable moves.
Of course, consecutive losses may also indicate a problem with the method; not all losses can be explained as normal system behavior. The key is to have sufficient records and samples to distinguish normal fluctuations, execution errors, and strategy failures, rather than judging right or wrong based solely on the most recent result.#US Core PCE Rises to 3.1% in September, Rate Hike Expectations Remain High
"Sticky PCE on the Rise, Bitcoin Battles at the 80,000 Level"
US Core PCE rose to 3.1% year-on-year in September, with overall PCE rising to 3.6%. Although both met expectations, the inflation uptrend is clear.
The Federal Reserve maintained rates at 3.75% to 4.00% in October with a 10-2 vote, while Cook and Harnack advocated a 25 basis point hike. Futures markets still price in over an 80% chance of a 25 basis point hike in December.
Bitcoin spot is tugging around $80,358, with daily trading volume about $339 million. High rate hike expectations weigh overhead, marking a critical phase in market battles. $BTC Tomorrow, $11 billion worth of BTC options expire, and I think it's necessary to pay attention.
According to reports, the notional value of Bitcoin options expiring on October 30 is about $11 billion, accounting for about one-third of Deribit's open interest in options.
BTC has been fluctuating around $80,000 these days, so this timing is indeed worth noting.
However, I don't quite agree with directly judging that BTC will surge or crash just because of such a large options volume. The expiration of options itself does not determine the direction; the key is how the funds move and whether the price can hold at critical levels.
From my own trading experience, the more the market is like this, the easier it is to prematurely guess the direction. As a result, before the direction even emerges, positions have already been whipsawed.
So this time, I am more focused on BTC's actual movement around the expiration rather than betting in advance. It's not too late to consider opportunities after a clear breakout or breakdown occurs.
Sometimes, doing less in a market you don't understand is more important than chasing an uncertain opportunity.
$BTC $ETH $BTC is holding $80K, but the Fed could decide the next move. 👀
📊 BTC: $80,389 | ETH: $2,336
💥 $125M+ liquidated, mostly long positions
💰 $110M ETF inflows reported
📍 BTC range to watch: $79.5K–$81.8K
$XRP is testing support near $1.27.
With the Fed decision approaching, volatility could spike. I’m watching the key levels instead of chasing every move.
Will BTC break above $81.8K or revisit $79.5K first?
$BTC $ETH #OKXICETrade.xyzPerps 📊 BTC Evening Operation Suggestions｜$80,000 Threshold, How to Position Tonight?
BTC current price is about $80,330.
From the daily chart, BTC is still in an overall correction structure, MACD is below the zero line, RSI is around 43, indicating bears still hold some advantage, and there is no clear trend reversal signal for now.
On the 4-hour chart, the price rebounded from around $79,178 but fell back again; short-term rebound strength is limited, bulls and bears are still contesting the $80,000 level.
📍 Key levels for the evening:
Resistance above: $80,800—$81,400, further attention to $81,750.
Support below: $80,000—$79,650, if broken, watch around $79,200.
🎯 Trading ideas: ✅ Bearish bias: If price rebounds to around $80,800—$81,400 and shows a pullback with weakness on the 15-minute chart, consider light short positions.
✅ Bullish bias: If price effectively holds above $81,400 and retests support, watch for short-term rebound opportunities.
⚠️ Risk reminder: If price breaks below $79,650 and the rebound is weak, be cautious of further downside. Do not blindly short at support or blindly buy at resistance.
Personal view: Short-term oscillation is weak, prioritize waiting for rebound short signals; no rush to enter long positions.
💬 Do you think BTC will first rebound to $81,000 tonight or break below $80,000 directly? Feel free to share your thoughts! The market is a bit dull tonight... BTC is hovering around 80,000 again. The Federal Reserve held steady last night, but two members want to raise rates, instantly crushing most of the "year-end easing dream" in the market. ETH also pulled back, overall risk assets are collectively taking a hit.
Interestingly, spot ETFs are still attracting funds, with net inflows for three consecutive days—selling on the surface but buying with hands, a typical "denying verbally but not stopping in action".
Next, it depends on whether the inflation data can show some favor. Everyone, don’t stay up too late watching the market tonight~
#BTC #ETH #FederalReserve
#MarketDiscussion #CryptoMarket #Macro
Content is for discussion only and does not constitute investment advice $DUSK — Financial Applications Need Privacy and Compliance
Dusk develops blockchain infrastructure aimed at financial applications where confidentiality and regulatory requirements can both matter. This is a difficult balance: institutions need data protection without losing necessary oversight. The opportunity depends on practical deployments, reliable technology, and a workable compliance approach. For DUSK, monitor development milestones, ecosystem adoption, network activity, and liquidity iNOW left side reference weekly bull-bear dividing line at 112.58; as long as the weekly trend is not broken, it remains intact; right side entry above 121, suitable for friends worried about catching a falling knife to refer to.
Market: SPY opened lower below 770.43, consolidating around 768.06, with 759.57 being more important; QQQ is below 725.71, with 706.58 as key support. Intraday, SPY must hold and break above 770.43 to meet the criteria for adding positions. No significant sell-off data, only rotation and divergence, so keep a steady mindset. After hours, pay attention to AMZN, INTC, and SNDK earnings reports.Second Subject: Resilience, Volatility, and Sharpe Ratio
Volatility: $BTC 21.9% vs. $ETH 38.8%. The second brother’s daily routine is like riding a roller coaster—no advantage in direction, but full on the thrill. After risk adjustment, the gap narrows but rankings remain: Sharpe -6.34 vs. -6.57. With the same unit of volatility, the elder brother loses less; the risk-adjusted calculation still favors the elder brother. Average fees: $BTC +0.0074%, $ETH +0.0058%. Both longs pay taxes to support shorts; the elder brother’s tax bill is slightly higher but benefits from deeper liquidity and better absorption. In this subject, the elder brother scores 8 points, the second brother 5 points—reason for deduction: high volatility alone isn’t wrong, but high volatility combined with greater losses is.
Third Subject: Meal Card Balance, Funding Sentiment
This morning’s snapshot: $BTC contract positions at $2.53 billion, $ETH at $1.48 billion; the elder brother’s market size is about one and a half times larger. A regret must be noted first: the historical interface for daily net inflows on the position side went offline today (market data source blocked, no alternative data available publicly). This subject can only rely on fees and spot market sentiment—fees on both sides are +0.0089% and +0.0086%, sentiment almost identical; ETF side had net inflows last week, but spot demand was called out as weak this week with volume down 11%. The whole market is tightening funds to survive the winter. On days without incremental funds, deep products consume liquidity, shallow products consume volatility; $BTC is the deep one.Google (Alphabet/GOOGL) is not experiencing a "crash and delisting" this time, but rather a concentrated market repricing after the earnings report due to "AI burning money but returns not materializing." As of intraday trading on October 29 Eastern Time, GOOGL was around $286, down nearly 12% in a single day, wiping out over $500 billion in market value, marking one of the worst post-earnings reactions since its IPO. 1. Direct triggers: Several key metrics in the Q3 report missed expectations - Revenue of 127.58 billion (expected 128.2 billion), up 25% year-over-year but "not good enough" - Search advertising 63.35 billion, up only 12% year-over-year, the slowest in 5 quarters, below the expected 64.9 billion+ - Diluted EPS $2.12 (expected nearly $3), net profit down about 24% year-over-year - Free cash flow negative 9.1 billion, negative for two consecutive quarters (capital expenditure 51.4 billion) 2. The three real market fears 1. The search cash cow is slowing down AI query volume hit a 5-year high, but AI Mode/AI Overviews monetize less efficiently than traditional search—user behavior is changing, but ad dollars haven't kept pace. The market worries that ChatGPT and intelligent agents will "steal the entry point." 2. AI capital expenditure can't be curbed - 2026 full-year Capex guidance: $195–205 billion - 2027 expected to increase significantly again (rumored to possibly exceed $300 billion) - TPU inventory front-loading + data center leasing, cash burned first, profits to follow Wall Street is now looking not just at "growth rate," but free cash flow$CHR — Blockchain Gaming Needs Repeat Engagement
Chromia focuses on blockchain infrastructure for applications, including games that require more complex data handling. Gaming can introduce blockchain features to mainstream audiences, but players usually return for enjoyable experiences rather than token incentives alone. CHR deserves evaluation through active applications, player retention, development progress, and token utility. A growing list of game announcements matters less than productsThe first phase of USDG Cycle Earning has expired. With one click, you can "migrate" your position to the second phase for seamless continuation of earnings. Don't want to continue? You can redeem at any time.
Operation path: OKX Wallet App > DeFi > Cycle Earning > USDG Cycle Earning > Migrate#OKX、ICE与Trade.xyz联手，推动永续合约进入美国合规市场 $BTC The US stock market has been open for an hour, with the Nasdaq leading the decline and tech stocks overall under pressure.
Google's earnings report fell short of expectations, reigniting market concerns about the return on AI investments. Crypto-related stocks are also weak. Coinbase and Strategy will release earnings after the market closes tonight, which may bring new volatility.
BTC hasn't found a clear direction either; it hit a low of 79,666 before rebounding and is currently oscillating above 80,000 but still below the EMA20.
The main focus now is the small range between 79,666 and 80,492. After testing the lower boundary, it bounced back, but the upper boundary has yet to be broken. Open interest has increased somewhat, and bulls and bears are still battling. A computing power commitment of 537 billion is like mortgaging an entire black soil field to a spring that hasn't been sown yet. Michael Burry squats at the edge of the field, counting on his fingers, saying the hidden dangers in this land run deeper than the soil moisture. What about Amazon and Google? They not only lend you seeds on credit but also collect your grain and run the market for you—this isn't partnership farming; it's like three melons on one vine. If the vine breaks, everything rots on the ground.
I've farmed half my life, and what I fear most is this kind of interconnected trap. You borrow my plow, I buy your fertilizer, he handles your sales; the books look lively, but when the autumn reckoning comes, you find only a few solid grains in the granary. Computing power is like fertilizer, irrigation, and tractors—you have to invest money and wait a season or two to see the harvest. But with over 500 billion invested, whether the yield can withstand such a large moisture deficit is a big question mark. Crops don't grow faster just because you invest more, and capital won't always shine just because your story sounds convincing.
What keeps me awake at night is hearing that this IPO plans to allocate 15% to 20% of shares to retail investors. What is that like? It's like bundling up seedlings that haven't even tasseled yet and selling them to passersby. City folks see a lush green field and reach for their wallets, but they've never crouched on the ridges and don't know how much hope a late spring frost can kill. Big players like Amazon and Google are shareholders, suppliers, and sales channels all at once; money moves between pockets faster than a waterwheel turns, but no matter how fast the waterwheel spins, only the well diggers know how much water is really in the pond.
$xMETA moves in tandem, like a weather vane on the neighboring plot; when the wind blows there, the leaves here sway too. But we old farmers watch the sky, not how others' flags flutter; we watch whether our own soil moisture is enough and if the roots are deep. In this market's four seasons, the worst thing during planting is rushing to see the harvest. If you bury the seeds and dig up the soil every day to check, the seedlings won't grow well. But if the seeds were shriveled and the soil compacted from the start, waiting until winter won't bring golden fields.
The most fatal word in this game is "cycle." You credit me, I owe you; the cash flow on the books is denser than the irrigation channels in the field, but if one section clogs, the whole channel dries up. Burry's eyes see the root system, not the leaves. No matter how green the leaves are, if the roots rot, one wind will topple them. The revenue growth channel must truly bring in fresh water to irrigate this 500 billion drought-stricken land. Otherwise, it's like mortgaging next year's harvest in advance—the deeper you plant, the harder it is to pull out.
The rules in the field are always simple: plant as much land, apply as much fertilizer, harvest as much grain—you have to have a clear account in your heart. No matter how strong borrowed fertilizer is, it must be repaid, and the interest grows faster than weeds. Right now, the seedlings aren't even all in, but the ledger has already turned to the third year. #anthropiccomputescrutiny$AIOZ — Decentralized Media Needs Reliable Performance
AIOZ Network explores decentralized infrastructure for content delivery, storage, and computing. These services could address demand created by streaming and AI workloads, but they must compete on speed, cost, and reliability. AIOZ's potential depends on real workloads using the network rather than simply participating for rewards. Track network utilization, customer adoption, developer integrations, and token economics to assess whether thPK Day | Verdict on $BTC
The results are out, let's start by naming names
Seven-day test window (from 10/22 to this morning's snapshot) results are in: $BTC return -2.30%, $ETH -4.22%, the big brother took only half the hit; max drawdown 2.3% vs 4.2%, volatility 21.9% vs 38.8%, Sharpe ratio -6.34 vs -6.57. Overall report card: $BTC barely passed all, this round's verdict is still $BTC, reigning champion. The judgment remains: in a bear market, it's not about who earns more, but who loses more gracefully — in this skill, the second brother has fallen behind twice in a row. $ETH camp, don't throw your phones yet, there are details on the back of the paper, let's look at each subject slowly.
First subject: Return rate, who slid less
Normalized curves plotted on the same chart: on 10/22 both stood shoulder to shoulder at this cycle's peak ($BTC 82,048, $ETH 2,417), then descended together, the slope is the entire difference — big brother gradually slid to 79,777, second brother slipped directly to around 2,305. Drawdown is more straightforward: big brother's deepest 2.3%, second brother 4.2%, same seven days, second brother's slide was twice as long. Their pace was basically synchronized, both took a hit on 10/23, bounced on 10/24, then slowly declined, the difference was this morning's drop — big brother closed down -0.92%, second brother -1.25%, who led the jump is clear at a glance.#AWS算力需求旺盛，亚马逊Q3财报有哪些看点？
AWS demand has been confirmed, pricing focus shifts to "realization speed and profit quality"
① Baseline: AWS growth at 38%-41%, profit margin 37%–39%, only confirming "in realization," hard to exceed expectations, stock price reaction is relatively neutral;
② Upside: AWS growth above 42%, and 2027 profit margin signals converge toward 46%, the "investing in the future" narrative is repriced;
③ Downside: AWS growth below 37% or profit margin compressed beyond expectations, CapEx and negative free cash flow quickly flip from "investment" to "eroding the present."
Sold-out computing power proves demand is not lacking buyers, but does not automatically prove supply-side investment can timely convert into profits. The real threshold on earnings night is whether AWS growth can cross the buyer psychological line of about 42%, and whether profit margin divergence can converge toward the optimistic side—merely confirming "demand still exists" is no longer enough. Brothers! The fifth wave of ETH's current rally is almost complete, and next, a larger-scale wave A or wave 1 is very likely to be brewing! $BTC $ETH $SNDK
The top divergence signal is very clear now! The price keeps hitting new highs, but the RSI indicator's peaks are continuously declining. After reaching the high point, the upward momentum is obviously weakening.
Once this correction lands, there is a high probability of another upward move in the subsequent structure, forming wave C or wave 3.
The current correction low has not been confirmed yet, so no need to rush into the market. Be patient and wait for the market to show its direction clearly before making a move!#美國9月核心PCE升至3.1%，加息預期仍高
US September core PCE rose from 3.0% to 3.1%, with overall PCE also reaching 3.6%. Although the data met market expectations, inflation remains stubbornly high, which is never good news for risk assets. The market's expectation of another 25 basis point rate hike in December has already exceeded 80%.
Here are the points I think are worth watching:
1️⃣ USD and US Treasury yields
If rate hike expectations continue to heat up, the USD and US Treasury yields may keep strengthening, putting pressure on US stocks and the crypto market.
2️⃣ $BTC liquidity resilience
Bitcoin is increasingly influenced by institutional funds, and the importance of ETF fund flows is growing. If funds continue to flow out, it will be difficult for retail sentiment alone to sustain a rally.
3️⃣ Altcoins may suffer more
In a high interest rate environment, capital usually prefers assets with better liquidity. If BTC shows no clear performance, it will be even harder for altcoins to have an independent rally.
However, I think the market's biggest fear may not be rate hikes themselves, but a sudden change in the originally expected policy path. Since rate hike expectations are already so high, any signs of cooling inflation data could instead become a catalyst for market sentiment reversal. At this stage, I will continue to watch the USD, US Treasury yields, and fund flows of $BTC and $ETH.
#美国PCE #美联储 #BTC #加密市场 #宏观经济Market Analysis for October 29
Last night, Sandisk peaked at 1421, then declined steadily, reaching a low of 1338 today.
Yesterday's rise effectively released the previous bullish momentum, and the market has returned to a normal rhythm.
For several consecutive days, the bulls have worked hard but with little success, clearly indicating that the current level is not the bottom, so a major drop must be guarded against. Trading strategy: short on rebounds, small rebounds for small shorts, big rebounds for big shorts, stay flat and watch if no rebound occurs; do not assume a rebound is guaranteed, focus on trend over price.$BTC has been consolidating around eighty thousand all day, with the highest and lowest prices only about a thousand apart, and the volume is so thin it feels like the whole market is holding its breath. Many people interpret this "unable to fall" as a sign of a rebound, but I understand it the opposite way: while the semiconductor sector in stocks is still partying and the Nasdaq is surging, crypto is not following at all. The divergence of stocks rising and crypto falling indicates this move is more like a retracement rather than a reversal, showing internal weakness. I've been holding the short position below, betting not on which candlestick will appear today, but on the fact that this valuation will sooner or later have to reconcile with cash flow. The difference between holding a position and stubbornly holding it is just a matter of life: as long as your line of admitting a mistake is still there, it's called holding; once it's gone, it's called stubbornly holding.When community banks put one-to-one reserves on the board, the stablecoin game is no longer a wild quick exchange but a king's wing pawn chain personally pushed by the rule makers. The regulatory first move landed on October 26: community banks can apply for stablecoin issuance qualifications directly or through subsidiaries, with capital, risk control, redemption, and reserves all weighed; yet the rules set the effective date on January 18, 2027. This is not a delay but a layout—giving traditional banks a time window to weave customer transaction flows, payment networks, and compliance frameworks into a pawn chain, while using the effective date clock to force crypto issuers to prematurely expose endgame weaknesses.
The real tactical point lies in the interest ban. Issuers cannot pay interest, effectively sealing off the rear wing pawn's exchange channel; the third-party compliance reward leaves a breath, an open line, and a restraint. Canada's October 24 draft similarly suppresses holder yields and caps redemption fees at one percent, effectively welding shut the backdoor during a run. The network effects of the two major USD stablecoins are ready-made pawn advantages, but banks don't need to race at the opening; they can treat deposit customers as the central square, payment networks as rooks and roads, first castle to protect the king, then use midgame exchanges to dismantle opponents' yield subsidies.
One-to-one reserves are not decoration but the baseline pulling stablecoins back from slogans to redemption capability; redemption rights are long-range pieces that can check at any time. Capital and risk control requirements will block issuers without endgame technology before promotion. Banks' true advantage is not issuing a new coin but existing account relationships and payment networks—this is the most solid pawn chain structure in the midgame. The bill seals off interest subsidies, forcing competition back to reserve quality, clearing speed, and compliance costs; the third-party reward, though left open, is like a pinned knight—able to jump but with limited routes. Canada's one percent redemption fee cap seems mild but actually drags fast attacks into endgames, preventing stampede-style runs.
$xSNDK's linkage is a tactical signal on the board, not the strategic whole. When liquidity is insufficient, it acts more like a restrained minor piece: when the bill's timeline moves, it wobbles; when banks' qualification applications land, it may be exchanged. Don't be fooled by single-day fluctuations into countdown reading; watch who controls redemption rights, reserve transparency, and payment entry—these three open lines. The stablecoin endgame is not about who has the loudest voice but who can maintain one-to-one redemption under capital constraints and turn customer payment flows into an irreversible pawn chain.
The real winning move is not the 2027 effective date but who first converts bank counter credit into on-chain payment initiative; by then, $xSNDK's linkage is just a restraint at the board's edge, not the king. #uscanadastablecoinpushAfter this surge and pullback of BTC, it has been grinding back and forth at a low level. On the larger time frame, the highs keep moving lower, indicating an overall weak trend. Don't easily interpret this as a bottom reversal.
Although the hourly chart shows a slow rise from the low of 79666, seemingly stabilizing, the key issue is the lack of volume. This kind of rebound is very fragile.
In the short term, focus on the 80700 level. Only if volume supports holding above this point will the short-term trend strengthen and attempt to test the previous high at 81700. If it fails to break this resistance, there is a high probability of a second dip to test lower support.
This stage is a consolidation phase with multiple possibilities. Only a breakout upward offers a chance to go long; if it faces pressure and falls back, weakness will continue. In a choppy market, the biggest mistake is to rush into heavy positions betting on direction.
$BTC $ETH $ZEC
#Strategy财报前瞻：BTC账面收益大幅反弹 $ZRX — Decentralized Trading Depends on Better Execution
0x provides infrastructure for exchanging digital assets across applications. Its technology addresses an important need in Web3: efficient token trading without relying entirely on a single centralized venue. However, competition is intense, and integrations must generate real activity to matter. For ZRX, evaluate current protocol usage, developer adoption, liquidity, and governance utility. Infrastructure success is measured by practicaBTC has fallen back near $80,000, ETH has dropped even deeper, and the market is not yet at a point where it’s safe to bottom-fish!
📊 $BTC — around $80,000 (24h -1.5%)
Short-term focus on the $79,600 support. Only if it climbs back above $81,000 is there a chance to recover from the decline; if it continues to break down, further pullbacks need to be guarded against.
📊 $ETH — around $2,324 (24h -1.8%)
Underperforming BTC, key to watch if $2,300 can hold. If it keeps lagging behind BTC, it indicates that risk appetite among investors remains low.
📊 $LIT — around $2.79 (24h -7.7%)
Significant short-term drop, selling pressure is worth noting. A bigger drop doesn’t mean the bottom is in; first observe if the decline can be stopped and whether buying interest returns.
Right now, I’m more focused on the market’s ability to absorb the selling rather than rushing to guess the bottom. If BTC fails to hold key support, high-volatility tokens often experience amplified drawdowns.
Do you think BTC will stabilize near $79,600, or continue downward to find support? #美国9月核心PCE升至3.1%，加息预期仍高 Even I, the "Line Drawing Hermit," am cautious about drawing lines too neatly and getting slapped in the face. 📈 When it comes to opening short positions, I focus on the price relative to moving averages, volume and price behavior near previous highs, and whether a pullback after a breakdown can reclaim the level—without prematurely scripting the market's story.
Core Trader 02 (0x9c062c…00560) recently opened or added to a short position on HYPE using 10x leverage, with a notional value of about $250,100. This entry feels like a proactive bet on a pullback, but I won’t treat a large short position as confirmation of a top.
The reason is straightforward: there’s no candlestick data to tell if this is a short opened on a rally meeting resistance or a short entered after a decline—each scenario offers different entry context; plus, 10x leverage amplifies the pressure from adverse moves. My guess is that only if the price breaks key structures and fails to reclaim them on a pullback will the bearish case become more convincing. I’ll wait for price confirmation and won’t substitute wallet size for judgment.No panic in the rates, no position fleeing, this is the worst news for a slow decline
$BTC Latest rate +0.009%, the bulls are still paying rent to the shorts point by point, sentiment is far from panic. Looking at the tax bills over seven days for details: on 10/22 it was only +0.0044%, on 10/27 it rose steadily to +0.0100%, last night it fell back to +0.0089%—sentiment started to warm up bit by bit after the 10/23 sell-off, but last night it was cooled down halfway by a bucket of cold water. Contract open interest is $2.53 billion, volume barely moved, indicating this round of decline is not a stampede caused by short squeezes; the market is most grueling but also best suited for shorts to hold their positions. Before the FOMC, total market volume shrank by 11%, spot demand was called out as weak by research institutions, and the $2.7 trillion total market cap also looks grim. Smart money was waiting for this morning’s result—once it landed, the first to run is respected. $ETH Open interest $1.48 billion, rate +0.0086%, sharing the same expression as the big brother.
$ETH: When diving, the second brother never misses
24 hours -2.29%, falling more sharply than the big brother’s -1.65%, this is the second brother’s etiquette: rebounds are slow and hesitant, but he leads the plunge. Bias: if you want to short, you can take the second brother along—short at 2,360-2,390 on the rebound, stop loss at 2,420 (just above previous high 2,417), target support at 2,281, but position size only half of the big brother’s is enough; the second brother’s “surprises” are always two-way.$PRCL — Bringing Real Estate Data On-Chain
Parcl explores blockchain-based real estate markets and property-related data. Connecting digital markets with real-world assets presents opportunities, but accuracy, liquidity, and regulatory considerations are essential. PRCL's long-term relevance depends on whether traders and developers continue using its products. Watch platform activity, data quality, product adoption, and token utility rather than assuming that a large property market guaranteesStrategy closed yesterday at 145.16, 5% lower than 153 at the end of September. After the U.S. Eastern market closes today, it will release its Q3 report, which corresponds to around 4 AM Beijing time tomorrow, with a live broadcast starting at 5 AM. There is basically no suspense about exceeding expectations. On October 5, the company itself announced that it earned $20.9 billion in Bitcoin on the books in Q3. Based on its shares, earnings per share are over $40, while Wall Street's average estimate is only around 18, and many haven't caught up with the end-of-quarter coin price. So tomorrow morning's headline will look very good, with earnings around $19 billion. But this headline is not very useful for the next day. In the past 8 earnings reports, the stock rose 3 times and fell 4 times the next day, with one day flat. Whether earnings per share exceed expectations or not basically has no relation to whether the stock rises the next day. Last July, earnings per share greatly exceeded expectations, but the stock fell 8.8% the next day. This February, there was a big loss, but the stock rose 26.1% the next day, and Bitcoin rose more than 10% that day. So what really determines the next day is still Bitcoin. Strategy holds about 848,000 coins, and normally MSTR's daily price change is about 1.5 to 2 times that of Bitcoin. Bitcoin is currently around 80,000, and was 83,500 at the end of September, so it hasn't recovered this quarter. Including bonds and preferred stock, the company overall is now only about 10% more expensive than the Bitcoin it holds, and the market is no longer willing to pay a premium. During the conference call, everyone will ask one thing. In Q3, it raised more than $5 billion through common stock issuance.Three hundred trillion dollars worth of rebar is being quietly welded into the financial foundation, while the acceptance report is still buried in the concrete, not yet demolded. The ground ring beam poured by DTCC on October 28 covers 34 stocks, ETFs, and government bonds, with 20 institutions—general contractors like JPMorgan and Citibank—already having signed construction access agreements. This is not about issuing a white paper for conceptual rendering; this is directly embedding steel into the existing load-bearing structure.
First, look at the reinforcement logic: securities held in DTC custody are mapped one-to-one with tokens, with rights intact and transferable 24/7. Translated into construction terms—the original cast-in-place slab is to be converted into prefabricated assembly, but the load path must not change, and the rebar anchorage length cannot be reduced. Canton and private Besu are the pioneers, equivalent to building two model units first; the subsequent public chain integration is the real general contractor expansion. The model units focus on node construction, not exterior wall coatings.
But the real structural risk lies in the node area. The 30 trillion in qualified assets is the blueprint's floor area, not the actual usable area after completion acceptance. Efficiency improvements in settlement and collateral management depend on whether the construction team can align reserved holes and prevent embedded parts from shifting. The 20 institutions signed construction permits, not completion settlement sheets. After pouring the ring beam, there is a curing period; the honeycomb and rough surface after demolding is where the supervisor must sign off.
Now about $xLLY, this linked asset. Next to this 30 trillion giant foundation pit, it is just a thin layer of fine stone concrete protective coating. Market linkage essentially is stress transmission—the large base slab settles, and adjacent independent foundations tilt slightly, but this does not change the reinforcement ratio of the independent foundations themselves. If the load transfer path of tokenized securities can truly enable continuous 24-hour pouring, then the liquidity gap during non-US trading hours is the original expansion joint, now to be filled with elastic sealant. The question is whether the sealant has aging test data; currently, the blueprint does not specify this.
My judgment is straightforward: this is a foundation reinforcement project, not the topping out of the main structure. The first batch of Canton and Besu networks are test piles; before the test pile report is out, no one should treat it as a completion drawing for construction reporting. The real structural safety factor is hidden in settlement failure rates, collateral discount rates, and cross-chain bridge bearing displacements. The tokenization of 34 assets and whether the reinforcement ratio is sufficient depends on crack width under extreme loads—not on the flying buttresses shown in the renderings.
As for the public chain integration plan, that is the phase two expansion design disclosure. If phase one hasn't even properly handled the post-cast joints, adding floors in phase two is just joking with structural redundancy. The entry of 20 institutions is construction organization design, not a building user manual. The completion filing form still lacks the tripartite seals of the survey unit, design unit, and supervision unit.
In this structural system, $xLLY's market linkage is like a short-leg shear wall, capable of bearing local loads but don't expect it to withstand seismic conditions. The real load-bearing system lies in the custodian banks, collateral pools, and the accuracy of on-chain and off-chain account reconciliation. If the concrete curing time is insufficient, the day of demolding is when the honeycomb and rough surface defects appear. This building is currently just at zero level, the tower crane has just been erected, and the main structure acceptance is still far off. #dtcctokenizationliveThe earnings report showed a profit of 20.9 billion, but the "whales" are hitting the brakes.
Strategy is releasing its earnings report tonight, with an extremely impressive paper profit, but what’s more worth watching is its moves: the whale holding 848,000 BTC has recently not only slowed down its accumulation but also repurchased $176 million worth of STRC preferred shares. This sends a clear signal — at the current rebound peak, the largest obvious bulls are choosing "defense" rather than continuing a reckless charge.
Back to the market, this explains why the market is so tangled. After BTC surged, there is a lack of incremental funds to take over, heavy selling pressure above, and it can only digest through high-level oscillation. Without whales leading the ignition, the funds in the market are all engaged in short-term speculation, warning of the risk that a prolonged plateau will lead to a drop.
ETH shows even more fatigue. As a higher-risk asset, once BTC stalls, ETH easily becomes a cash-out machine. Its trend is not only constrained by macro liquidity but also depends on BTC’s performance. Currently, the rebound strength is obviously weak, and the support below will face repeated tests.
In tonight’s earnings call, if Strategy’s executives cannot confidently express continued optimism and plans to increase positions, the market will likely use this opportunity for a shakeout in the short term. In terms of operations, don’t be blinded by paper profits; manage risk well on rallies and wait for the whales to make their move. $BTC $ETH #Strategy财报前瞻：BTC账面收益大幅反弹 ICE might be the OTC buyer of 3.75 million HYPE, with 625,000 HYPE transferred to TradeXYZ as part of ICE's investment
On October 29, X platform KOL MLM (@mlmabc) posted that out of the 3.75 million HYPE traded OTC last month, 3.125 million were staked to a single wallet, with validators being Hyperliquid Strategies and Unit; the remaining 625,000 were transferred to another HyperEVM wallet and remained idle for nearly three weeks. Yesterday, 1 HYPE was sent to a new wallet, which on the same day received multiple transfers funded by wallets associated with TradeXYZ's purchases on Hyperliquid. Currently, the 625,000 HYPE have been transferred into this new wallet and moved from HyperEVM to Hypercore. MLM speculates that ICE is the buyer of these 3.75 million HYPE, though this has not been confirmed; the 625,000 may have been transferred to TradeXYZ as part of ICE's investment, with on-chain links indicating this portion of HYPE likely belongs to TradeXYZ. #美国9月核心PCE升至3.1%，加息预期仍高 $BTC $ETH $HYPE On October 25th, when BTC's closing price settled at $80,086, the PSIP (Profit Supply Percentage) was 64%.
I once mentioned in a tweet (see quote) that historically, a PSIP below 50% corresponds to the bottom range of bear market cycles. During the bear-to-bull transition period, a PSIP below 65% indicates that the pullback has entered a reasonable range.
So, based on the most recent data point on October 25th, this corresponds to a BTC price of 80k or below.
Relatively speaking, BTC at 80k now is equivalent in cost structure to BTC at 75k on September 15th; because on that day, the PSIP was also 64%.
Of course, if you ask "Where is the lowest point of the pullback starting from 87k this time?" probably no one knows, and I certainly don't know either.
But what I do know is that everything below this point is worth paying attention to—the lower, the better the cost-performance ratio. If the PSIP can reach the 60-55% range, that would naturally be best, but who can guarantee it will definitely get there.
Reposted from MurphyZachXBT: Axis Robotics insiders sold over 76 million AXIS tokens, with the token dropping about 40% in 24 hours
On October 29, according to on-chain detective ZachXBT, Axis Robotics (AXIS) insiders obtained over 76 million AXIS tokens from a multi-signature wallet, valued at over $12 million, then sold them through decentralized exchanges and transferred some tokens to Bitget. In the past 24 hours, AXIS price dropped about 40%. One insider sold 42 million AXIS tokens that day, with their 8 wallet addresses holding over $5.04 million in USDC. #美国9月核心PCE升至3.1%，加息预期仍高 $BTC $ZEC $SOL Hyperliquid Founder Jeff: Never Expected ICE to Build on Hyperliquid's Technology and Realize It Within Just One Year
On October 29, Hyperliquid founder Jeff posted that ICE, trade[XYZ], and Hyperliquid have jointly opened a new chapter. He introduced that ICE started in 2000 as a power trading platform, and 13 years later acquired the NYSE, becoming a key infrastructure provider for the US energy, bond, and mortgage markets; trade[XYZ] is the first HIP-3 deployer, launching the first RWA perpetual market a year ago. According to the announcement he quoted, the cooperation structure is: Hyperliquid provides the underlying technical infrastructure through HIP-3*, trade[XYZ] is responsible for designing and implementing the market, ICE operates the regulated market and clearing structure, the existing trade[XYZ] HIP-3 market remains unchanged, and trading still requires regulatory approval. Jeff also said that about a year ago when he spoke with ICE CEO Jeff Sprecher, he asked me what success meant in my view. I thought for a moment and joked that it was seeing ICE build based on Hyperliquid's technology. I never expected Hyperliquid to make such huge progress in just one year and ultimately achieve this goal. Looking forward to creating more brilliance together moving forward. #$HYPE #US September Core PCE rises to 3.1%, rate hike expectations remain high Today's show stars the Federal Reserve, with BTC just a collateral bystander.
The FOMC held steady as expected, but the aftermath was full of drama: out of 12 officials, 2 actually want a rate hike, Chair Powell's speech was flawless, and the market filled in the blanks with "a hike in December," pushing the rate hike probability to 79.8%. The 10-year Treasury yield topped 5%, and Bitcoin weakened accordingly—at 14:14 it was quoted at $80,133, down 0.9%, erasing yesterday's one-day rebound; altcoins fared worse, with ETH and SOL both down over 1.5%. The position landscape is filled with a "lying flat" mood: the long-short ratio is 49.99:50.01, as precise as if both sides signed a ceasefire; the 24-hour total liquidations across the network were only $145 million, indicating leverage has long been tucked away.
Forecast: The $80,000 level will continue to be contested tonight, with the MSTR earnings report as a hidden wildcard. If it breaks down, look for support between $78,000 and $79,300; to rebound, we need the "December rate hike" narrative to cool off. Strategy: keep low leverage and avoid catching flying knives.
$BTC A single reconnaissance balloon rises to an altitude of three thousand meters, and all the clouds without tethering will be exposed on the spot: the one-to-one reserve requirement is exactly the balloon released over the North American continent today.
On October 26, the currency regulatory authority issued a launch permit to community banks: they can directly apply for stablecoin issuance qualifications or declare through subsidiaries; the premise is a one-to-one reserve, smooth redemption channels, and compliance with capital and risk control standards, with the effective date locked on January 18, 2027. Almost simultaneously, a draft from Ottawa pressed down from the north, regulating holder earnings and capping redemption fees at one percent. The two airflows align, merging into a frontal system spanning North America.
Having worked in meteorology for many years, what I fear most is never heavy rain, but the kind of weather that seems mild on the surface yet has been trapped in an inversion layer for three days. The key this time lies in the inversion layer: issuers are not allowed to pay interest. The surface is held down, moisture cannot rise, but the draft leaves a boundary layer gap for compliant third parties to receive rewards. The width of this gap determines who ultimately bears the brunt of this rain.
Looking at timing again. January 18, 2027, to me, is not an imminent warning but a model forecast beyond seventy-two hours. The longer the forecast, the greater the divergence in ensemble predictions. What you can be sure of is the trend: the pressure gradient is increasing, and the wind is about to rise. What you cannot be sure of is the landing zone: which bank will launch first, which payment channel will fill up first.
Community banks hold decades of accumulated moisture channels: deposit customers, clearing networks, local merchants. In contrast, Tether and USD Coin have long been entrenched in the subtropical high-pressure zone at low latitudes—stable, steady, and widely covering. New convective cells trying to break through the high pressure rely not on volume but on continuous moisture transport.
Observation must also be tight. That triple-leveraged long target essentially places an anemometer in the updraft of a thunderstorm cell, amplifying readings threefold while the direction remains unchanged. When the parent pressure field moves, it jumps first.
I am more concerned about system movement speed. From announcement to effect, fourteen months remain, during which several rounds of pressure field changes and liquidity jets will pass. Historically, fronts delayed this long often land with strength differing significantly from the initial model field.
Visibility is declining. When visibility drops, the first to fail is never the instrument. #uscanadastablecoinpushHassett's one statement has once again poured cold water on the market's rate cut fantasies.
White House National Economic Council Director Hassett publicly stated that the US GDP growth rate is moving toward 4%. It sounds good, but for the crypto world, this signal needs to be carefully considered.
First, with such a strong economy, the Federal Reserve has no urgent reason to cut rates. The market's originally expected easing pace may be pushed back again. Without rate cuts, the dollar remains strong, and the valuation ceiling for risk assets continues to be suppressed.
Second, money doesn't disappear out of thin air; it just moves places. Some is absorbed by the US stock market, and the remainder goes to crypto. So you'll see this contradictory market: the better the macro data, the more hesitant the coin prices.
Third, the real turning point lies in the expectation gap. If 4% is just talk and later data contradicts it, that’s an opportunity for reversal; if it truly holds at 4%, the main theme of this cycle won't be a liquidity-driven bull but a profit-driven bull, depending on who has real use cases and cash flow.
Looking at the market, BTC is currently in an awkward position, pressured above and supported below, oscillating back and forth. ETH follows the broader market with slightly more volatility. Altcoins only have localized opportunities, so don’t chase highs recklessly.
My view: in a macro environment leaning strong, it’s not suitable to go all-in betting on direction; it’s better to hold cash and wait for a correction. Only when prices truly drop is it time to accumulate chips.
Don’t be blinded by the phrase "economic improvement"; the crypto world has never profited from good news but from expectation gaps.