Weekly report: BTC rebounds after falling below 66,000, US government Wallet hacked, SEC approves BTC ETF options.

BTC briefly surged above $68,500 earlier and then plummeted below $66,000, but quickly continued to Rebound, and the market's bullish sentiment seems to remain unchanged. The following is a summary of important events this week, on-chain data updates, and events to watch next week. (Background: Dynamic Weekly: BTC bullish sentiment is strong, Thai bank sets a precedent for stable coin remittances, A-share market rescue is ineffective) Important events this week (10/20-10/26) at a glance: U.S. Inrerest Rate on the rise despite the cycle of rate cuts, but various reasons continue to dampen market expectations for a Fed rate cut. Gold hits a historic high, sparking follow-up speculation on the performance of "digital gold" BTC. Japan's rate hike may lead to a wave of corporate bankruptcies: The Japanese Central Bank may raise rates again, pushing the number of bankruptcies to over 5,000, with a total debt of 138 trillion yen. Buffett Indicator breaks 200%: The market's overvaluation indicator hits 200%, reaching a historic high, and Citi analysts warn of the risk of a flash crash in the U.S. stock market at any time. Taiwan's FSC strengthens inspections: Will conduct anti-Money Laundering checks on 6 virtual asset service providers (VASPs) to strengthen supervision. U.S. government Wallet hacked: A U.S. government-controlled Cryptocurrency Wallet was reportedly hacked, losing $20 million in Cryptocurrency, but it was quickly returned. SEC approves BTC Spot ETF options: The U.S. Securities and Exchange Commission (SEC) has approved 11 BTC Spot ETF option applications, and the leverage effect is expected to drive BTC price Fluctuation. Taiwan's eighth wave of housing market cooling measures is coming: Experts predict that the lack of real-time housing price data may lead to a misjudgment by the Central Bank, prompting further cooling measures, with significant price declines expected. Market data changes this week: Emotion and zone 1. Fear and Greed Index: This week's market sentiment index rose from 72 (greed) to 72 (greed), staying in the (greed) range all week. 2. Funding rate heatmap: This week, BTC's funding rate reached a high of 14.81% and a low of 9.3%, indicating strong bullish sentiment. The funding rate heatmap shows the trend of funding rates for different Cryptocurrencies, with colors ranging from green for zero rates to yellow for 50% positive rates, and black representing negative rates; the white candlestick chart shows BTC price Fluctuation in contrast to the funding rate. 3. Zone performance: According to Artemis data, the average increase in zone in the blockchain field this week is (-2.3%), with DePIN, Perp DEX, and Decentralized Finance ranking in the top three with (5.1%, 4.9%, 4.2%) respectively. BTC and Ether's price changes this week are (-1.2%, -5.8%). The three worst-performing zones are RWA (-10.5%), AI (-8.6%), and Social (-8.5%). Market Liquidity: 1. Total Cryptocurrency Market Cap and Stablecoin Supply This week's Cryptocurrency total market cap data shows a decrease from $2.4 trillion to $2.38 trillion, a decrease of $20 billion, with a total market cap increase of approximately 0.83%. The total stablecoin supply is an important indicator of market health and Liquidity, which decreased from $163.05 billion to $162.62 billion this week, a decrease of $430 million, or approximately 0.26%. 2. Potential buying power within exchanges Data shows that there was a net outflow of assets from exchanges this week. BTC technical indicators: 1. Large net inflow of funds into BTC Spot ETFs this week, totaling $869.7 million. 2. BTC Rainbow Chart: The BTC current price is in the "consider buying" range ($68,000), between the "consider Auto-Invest" stage ($70,000) and the "special price dumping" stage ($52,000). 3. BTC realized net profit and loss performance: The BTC realized net profit and loss indicator shows that the market situation has improved, with the profit and loss ratio similar to that of January this year. 4. Long-term BTC holder selling: According to on-chain data, since mid-October, the net position data has gradually turned negative, and has continued to decline over the following days, indicating that long-term holders have begun to significantly reduce positions. The current dumping intensity has not further intensified, however, the relatively stable BTC price may indicate that the market's demand is sufficient to absorb this dumping pressure, or it may indicate that the market is about to change. 5. Strengthened buying power of BTC on-chain: According to on-chain data, there is a clear behavioral difference between short-term and long-term holders in the BTC market this week. The stable growth of long-term holders indicates that the market's long-term investment confidence still exists. 6. BTC contract open interest hits a new high: According to data, the open interest in BTC contracts within exchanges has shown a stable rising trend, decreasing from $40.38 billion to $39.24 billion this week, still above the key level of $39 billion at the end of March. This rise in open interest indicates active Margin Trading activity in the market, with a significant increase in investor risk preference. Ethereum important technical indicators: 1. Ethereum Spot ETF net outflow of funds this week is approximately $3.5 million. 2. BTC correlation: This week's data shows that the correlation between BTC and ETH and SOL is 0.52 and -0.15 respectively. BTC's overall correlation with other Cryptocurrencies remains stable, maintaining a high level of positive correlation with Cryptocurrencies such as USDT and BNB, at 0.87 and 0.82 respectively. Compared to last week, BTC's correlation in the overall market remains stable. The correlation between mainstream Cryptocurrencies remains at a relatively high level this week, especially the strong correlation between BTC, ETH, and BNB. 3. Total locked value (TVL) in the Decentralized Finance market: This week's data shows that the total locked value in the Decentralized Finance market has increased from $87.93 billion. Market analysis news this week: 1. U.S. Inrerest Rate continues to rise, "hitting expectations of rate cuts" Dow plunges 400 points, Goldman Sachs: S&P 500's golden decade is over. BTC hit a low of 65,251 USD this morning, the lowest in a week. However, it quickly rebounded back above $67,000, is this a healthy pullback or a Dead Cat Bounce? It remains to be seen. (Continue reading) 2. Gold breaks through historic high of $2,722! Will the opportunity for "digital gold" BTC remain distant? This year, the price of gold has been steadily climbing, breaking through the $2,700 mark yesterday and reaching a historic high of $2,722 per ounce today. In the background of gold's continuous rise, can BTC, known as "digital gold," replicate the high trend of gold? (Continue reading) 3. 7 valuation models for BTC: from $500,000 to $24 million. Analyzing 7 BTC valuation models and the potential value of BTC under each model. (Continue reading) 4. Japan's rate hike effect: Zombie companies collapse on a large scale this year, with bankruptcies exceeding 5,000 and debts reaching 138 trillion yen. The Japanese Central Bank is set to hold a monetary policy meeting at the end of this month, and there is currently a high level of attention on whether Japan will continue its policy from July and announce a rate hike again. However, a recent report by Reuters pointed out that the probability of the Japanese Central Bank raising rates again this month is not high. (Continue reading) 5. Big dump in U.S. bonds! 10-year Inrerest Rate surges to 4.2% ...