Thailand’s Deputy Finance Minister recently announced that Thailand has no cap on the number of virtual bank licenses and hopes the central bank will speed up the issuance of licenses in the next six months. This news has aroused market attention to the further development of Thailand’s fintech industry.

From a regulatory perspective, Thailand’s policy is remarkably open and flexible. The traditional banking industry is often subject to strict supervision and quantitative restrictions, while the license for virtual banks has no upper limit, which means that the government hopes to promote the digital transformation of Thailand's financial services industry by introducing more market competitors. This is undoubtedly a good development opportunity for start-ups, technology companies and international financial technology companies.

However, market opening does not mean there is no risk. Although increasing the number of virtual banks can improve the coverage and innovation of financial services, too many virtual banks may also lead to excessive market competition, which in turn has an impact on traditional banks. How to ensure that these virtual banks maintain a sound risk management capability during rapid development is a topic that Thai regulators need to focus on in the future.

In addition, successful cases of virtual banks around the world provide Thailand with valuable experience. For example, Singapore and Hong Kong have already started issuing virtual bank licenses earlier and have ensured the stable development of the market through a strict regulatory framework. If Thailand can effectively learn from these experiences in policy design, the vigorous development of virtual banks will inject new vitality into Thailand's financial system and enhance its international competitiveness.

Recently, Zhu Su, co-founder of Three Arrows Capital, commented on the news that FTX's bankruptcy proceedings will inject $16 billion into the market. He mentioned that even if these funds fail to flow back into the cryptocurrency market in full, it will still be a highly influential incremental fund.

First, according to FTX's bankruptcy reorganization plan, creditors will complete the vote before the confirmation hearing on October 7. The allocation of the $16 billion fund is a key step in FTX's bankruptcy proceedings. Although more than 95% of creditors support the plan, we should recognize that these funds will not necessarily enter the crypto market entirely. Some funds may flow back to the traditional financial market or be used to repay other debts.

Secondly, the timing of the repatriation of FTX's bankrupt funds and the Fed's interest rate cut expectations and the global loose monetary policy form a clever superposition effect. With the Fed likely to cut interest rates by 50 basis points this year, the liquidity environment in the United States and the world will be further relaxed, which provides good support for Bitcoin and other crypto assets. At the same time, China is also releasing large-scale liquidity stimulus measures, and these policies together form the basis for the market's bullishness.

However, it should be noted that whether this wave of capital inflows can quickly boost the market depends on investors' risk appetite and changes in the global macro environment. Although Zhu Su is optimistic that these funds will push up the market, there is still uncertainty in the market. Crypto assets are highly volatile, especially when facing fierce competition from other risky assets such as the US dollar and the stock market, the market trend may not rebound as quickly as expected.

BTC: Bitcoin closed with a star line for two consecutive days on the daily level, indicating that market sentiment is relatively hesitant and the strength of buyers and sellers is relatively balanced. Star lines usually appear at key positions for trend continuation or reversal, especially after a period of large rise or fall, which can easily trigger market adjustments.

In terms of indicators, the MACD fast and slow lines are gradually converging, suggesting that market momentum is weakening, and the RSI indicator is around 52.64, which is in the neutral area, indicating that the market has not yet shown obvious overbought or oversold signals. The CCI is currently 60.04, which has not yet reached an extreme value, and market sentiment is relatively stable.

In summary: Bitcoin is currently in a state of high-level fluctuations and faces the risk of adjustment in the short term. If it fails to break through the strong pressure level of $66,000, the market may pull back to the strong support level of $62,000. Pressure reference: around 66,000; around 67,900;

ETH: Ethereum has closed with a small negative line in the last two trading days, which shows that the bullish force in the current market is gradually weakening and the bearish pressure has increased. In the MACD indicator, the fast line and the slow line are gradually tending to stick together, indicating that the market momentum is beginning to decline; the RSI is currently around 52.31, which is neutral and weak, indicating that the market is not in an extreme situation of overbought or oversold for the time being.

In summary: In the short term, the market may continue to adjust and fluctuate. Pressure reference: around 2868; around 3102;

Today's Fear Index: 61 (Greed) #非农就业数据即将公布 #美联储11月降息预期升温 #比特币走势分析