As China's National Day holiday ends, traders begin to allocate capital positions. The crypto market, which saw net capital outflows last week, regains the favor of funds, prompting Bitcoin to rise from US$60,000 to US$63,500. Due to the bright US economic data last week, funds are very It is possible that China will begin to flow back to the United States, which will also drive up the price of the cryptocurrency market. Some funds have already begun to switch from stable coins to Bitcoin and other small and medium-sized cryptocurrencies.
Historically, Bitcoin has performed better in the fourth quarter. After experiencing the decline in September, October has become a good starting point. The focus this week includes the price index (CPI) and unemployment benefits on October 10. The number of claims and the consumer confidence index on October 11.
According to a report released by Cryptoquant over the weekend, they found that short-term holders (holding Bitcoin for less than 155 days) have recently increased their risk or increased their buying, indicating a surge in buying activity, indicating that investors are more optimistic about the market sentiment. Start buying Bitcoin again, and subsequent U.S. economic data will affect investors' bets on the U.S. economy. Although the current data looks good, it still depends on how the market interprets it.
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"MICA Daily｜Funds are in place in advance, Bitcoin rebounds to $63,500" This article was first published on (Block Guest).
