Today's summary of Bitcoin and Ether market: The bottoming rebound shows resilience, waiting for CPI data to break the deadlock.

The cryptocurrency market today shows a "bottoming out and rebounding" trend, with Bitcoin and Ether both rebounding strongly after hitting lows in the early morning, demonstrating short-term resilience. However, the market is still significantly affected by intertwined macro expectations and leverage risks, showing notable volatility.

The daily trend of Bitcoin first declined and then rose. In the early morning, it reached a low of 106,500, touching a key short-term support level before stabilizing. Subsequently, it gradually rebounded with buying interest, peaking at 110,200 in the afternoon, with the maximum intraday rebound exceeding 3.5%. However, after the high, it faced resistance and slightly retreated, stabilizing around 109,700 at present, with a slight increase of 3.2% in 24 hours. This fluctuation not only validates the effectiveness of the support at 106,500 USD but also reflects the selling pressure above the psychological level of 110,000 USD.

The trend of Ether corresponds with Bitcoin, rebounding after hitting an intraday low of $3,700 at 5 AM, climbing to a peak of $3,900 by 5 PM, with an intraday rebound of nearly 5.4%. It then retreated to around $3,860, remaining basically flat over 24 hours. As the second-largest cryptocurrency by market capitalization, Ether's rebound momentum benefits to some extent from the market's long-term expectations of its ecological value, although it still fluctuates in the short term with market sentiment.

From the market environment perspective, the intraday rebound is related to multiple factors: on one hand, the recent Fintech conference held by the Federal Reserve released positive signals, with Governor Waller mentioning "actively embracing payment innovation", even leaving room for cryptocurrency payment companies to access the central bank's payment system, which alleviated regulatory concerns to some extent; on the other hand, stablecoins saw an inflow of $6 billion within 24 hours, indicating that potential purchasing power is accumulating and providing support for the low price range. However, risk factors cannot be ignored either, as the total number of liquidations across the network reached 138,000 in the past 24 hours, with a total liquidation amount of $480 million, highlighting the dangers of high-leverage trading in a market characterized by both long and short liquidations. Furthermore, the upcoming US CPI data to be released this Friday remains a key catalyst in determining the subsequent market direction.

Overall, Bitcoin and Ether are in a critical range of "effective support but unbroken resistance." In the short term, attention should be paid to Bitcoin's support at 106500 and resistance at 111500, while Ether should closely monitor the support at 3700 USD and resistance at 3965 USD. Before the macro data is released, the market is likely to maintain a consolidation phase, and investors should be wary of leverage risks, waiting for clear directional signals.
#十月降息预测 #BTC #ETH