Bitcoin once reached a new high of $93,265 this week and then fell back. However, the most popular track after Trump was elected was the MEME meme coin. In addition, market sentiment seems to have changed this week due to concerns that inflation will revive after Trump takes office. The following is a summary of this week’s important events, on-chain data updates, and events that need attention next week. (Preliminary summary: Bauer said there is no rush to cut interest rates. Bitcoin fell by $86,600, US stocks collapsed, and October PPI showed that inflation is still sticky) (Background supplement: Dynamic Zone Weekly Report: Bitcoin hits new highs, joint venture The interest rate will be cut by 1 code, and Ethereum will recover) A quick look at the important events of this week (11/10-11/16) Bitcoin dynamics: Ball said there is "no rush to cut interest rates", the price of Bitcoin once fell back to $86,600, and the market value exceeded Silver has become the 8th largest asset in the world. The meme sector is hot: the Memecoins track has seen an average increase of 60% this week, significantly ahead of other tracks. The progress of the Federal Reserve's interest rate cuts: Soros's comrades said that it is too early to declare victory over inflation, and inflation may resurgence. Market buzz: Upbit’s cryptocurrency trading volume surpasses the South Korean stock market; Glassnode reports that Bitcoin has entered the “euphoria phase.” Financial Supervisory Commission: The virtual asset service provider (VASP) registration system will be launched by the end of the year. Arthur Hayes: Prediction of Bitcoin rising to $1 million due to unlimited quantitative easing (QE) policy. 18 states in the United States jointly sued the SEC for unconstitutionally exceeding its powers and unfairly cracking down on the cryptocurrency industry. Trump appoints Musk to lead the Department of Government Efficiency DOGE: Musk’s resurgence has sparked a craze for related meme coins. Changes in trading market data this week Sentiment and sectors 1. Fear and Greed Index This week’s market sentiment indicator rose from 75 (greed) to 88 (extreme greed), and remained in the range of (greed) and (extreme greed) throughout the week. 2. Funding rate heat map This week, Bitcoin’s funding rate reached a maximum of 58.59% and a minimum of 6.13%, indicating that the bullish sentiment continues to be strong. The funding rate heat map shows the changing trend of funding rates for different cryptocurrencies. The color ranges from green with zero rate to yellow with 50% positive rate. Black represents negative rate; the white K-line chart shows the price fluctuation of Bitcoin. , in contrast to the funding rate. 3. Sector performance According to Artemis data, the average increase in the blockchain sector this week was (7.2%), among which MemeCoin, Store of Value, and Gen 1 smart contracts occupy the top three with (60.9%, 36.0%, and 21.1%) respectively. This week’s gains for Bitcoin and Ethereum were (15.3%, 3.8%). The three worst performing areas are: Staking (-12.4%), Data Availability (-10.2%), and Bridge (-6.4%). Market Liquidity 1. Total Cryptocurrency Market Cap and Stablecoin Supply This week’s data on the total cryptocurrency market cap shows that it rose from US$2.68 trillion to US$3.06 trillion, an increase of US$380 billion, and a total market value increase of approximately 14.2%. BTC’s market share is 55.42%, and ETH’s market share is 12.21%. The total stablecoin supply, an important indicator of market health and liquidity, increased by $9.33 billion, or approximately 5.6%, this week from $167.81 billion to $177.14 billion. 2. The potential purchasing power in the exchange has increased significantly. Data shows that exchange assets have shown a net inflow trend this week, especially the large inflow of USDT after the US election. This phenomenon may be investors preparing for upcoming market fluctuations, and the inflow of funds into exchanges may mean increased buying demand in the short term. In addition, the highest single-day net inflow reached US$7.5 billion, surpassing the highest single-day net inflow of US$6.7 billion in the previous bull market, showing ample market liquidity. 3. Gains among the top 100 by market capitalization. The crypto market rose strongly this week, with PNUT leading a rise of +1,426%. DOGE, PEPE, etc. also rose sharply, indicating that investors' risk appetite increased and a large number of MEME coins rose. According to Blockchaincenter data, the current altcoin seasonal index is 27, indicating that the market is still dominated by Bitcoin and the popularity of altcoins is relatively low. Bitcoin technical indicators 1. Bitcoin spot ETF has a large net inflow of funds. Bitcoin ETF funds have inflowed US$2.3215 billion this week, and the net inflow is nearly twice that of last week. Nov. 11 saw the second-highest single-day inflow on record, reaching $1.12 billion. 2. Bitcoin Rainbow Chart The Bitcoin Rainbow Chart shows that the current price of Bitcoin ($87,000) is in the "consider fixed investment" range. 3. Bitcoin’s net profit and loss performance Bitcoin’s realized net profit and loss indicator shows that the current market conditions are recovering, and the proportional structure of profits and losses is similar to the situation in early March this year, when the price of Bitcoin reached a high in mid-March.The increase in this indicator reflects the increase in profits realized by investors and the turn to positive market sentiment, which may indicate that prices may rise further in the future. However, be wary of the risk of a potential pullback, especially profit-taking in the market after a rapid rise. 4. Long-term Bitcoin holders reduce their holdings. According to on-chain data, the net positions of long-term Bitcoin holders have dropped significantly, and the red bar chart shows a gradual increase in selling pressure. Since mid-October, the change in the net position of long-term holders has turned from positive to negative, indicating that some long-term investors have begun to gradually take profits. This phenomenon is especially obvious when the price of Bitcoin rises to near new highs, indicating that a part of the capital in the market chooses to make profits at high levels. The dynamics of long-term holders are worthy of attention, especially changes in positions when the market is at a high, which may indicate a potential market correction or capital rotation. 5. The purchasing power on the Bitcoin chain is strong. According to on-chain data, this week’s data on Bitcoin’s long- and short-term holders shows that as the price rises, the positions of short-term holders (red line) increase significantly, while long-term holders (blue line) Line) positions decreased. This trend shows that short-term investors actively enter the market during the upward price stage, further boosting market vitality; in contrast, some long-term holders choose to take profits at this time. Increases in short-term holders' positions often reflect optimism in market sentiment, as short-term funds are more susceptible to market news. The reduction in positions of long-term holders may reduce market stability, and attention should be paid to potential short-term correction risks. 6. Bitcoin contract positions hit a new high According to data, Bitcoin contract positions on exchanges rose rapidly this week, climbing from US$46.53 billion to US$56.3 billion. Not only did it set a new record high for contract positions, but it also At the same time, the price of Bitcoin also hit a new high, breaking the open interest record in March this year. The market's enthusiasm for Bitcoin investment continues to rise; however, investors are also reminded that volatility may rise further. 7. Coinbase Bitcoin Premium Index This week, the Coinbase Bitcoin Premium Index turned positive from negative last week, indicating that the demand for Bitcoin in the US market has increased, driving the premium upward. The positive premium differential may suggest that U.S. investors have greater purchasing power in the market than global investors. 8. Short-term on-chain cost benchmark band This week, Bitcoin's short-term on-chain cost benchmark band shows that the price is close to the upper track (red line) of $96,800, reflecting high market sentiment and short-term investors...

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