The crypto market is currently showing a negative trend, with Bitcoin reserves on exchanges remaining at the same level since April 2022. This is not expected to have a significant impact on price volatility.

The Bitcoin SSR index hit its lowest point this year, more due to the sluggish altcoin market and low volatility, rather than Bitcoin itself.

Retail investors have become more aggressive in recent months, especially during the technical rebound from the lows.

The average purchase price for Bitcoin holders with less than 6 months of holding time is between 57,816 and 66,976 USDT, indicating investment at a relatively high price level.

The key in Q4 is whether Bitcoin can maintain the 49,000~53,000 USDT price range and build new momentum.