Bitcoin reserves on exchanges (USD) remain at the same level as April 2022, expected to have little impact on price volatility.

The SSR index hit its lowest level this year, mainly due to the sluggish and less volatile altcoin market than Bitcoin.

The estimated leverage ratio increased as retail investors became more active in technical rallies from low prices.

The average purchase price of holders under 6 months ranged from 57,816 to 66,976 USDT, indicating that they invested at a fairly high price. The market is heavily influenced by high leverage investment and macroeconomic factors.

In Q4, Bitcoin needs to maintain the range of 49,000 ~ 53,000 USDT and create new momentum.