As the last day of National Day, Bitcoin once again approached 64,000 US dollars. It can be seen that the pressure nearby is still relatively strong. It was beaten back as soon as it was touched. The support has been raised to around 61,700. The rise in bottom prices can be said to have given the market enough opportunities to get on board!

The secondary market is also exciting, and the meme market is still hot. Among them, the SUI ecosystem has risen strongly. The market value of the on-chain meme project HIPPO (about 143 million US dollars) has surpassed the meme project MOODENG on Solana (about 135 million US dollars). In addition, tokens such as NEIRO, WIF, PEOPLE, SATS, PEPE and ORDI have performed outstandingly. In addition, the AI ​​sector is also overflowing with color. TAO continues to make efforts. World Coin will launch its own Layer 2 expansion network in October, called World Chain. He previously released a developer preview version in July. Now 3 months have passed, and many news indicate that he will release it in October. So you can pay attention to his token WLD!

On October 10, pay attention to the release of US CPI statistics

Last Friday's non-farm payrolls report significantly exceeded market expectations. Regardless of whether the data was overly beautified, the market will only focus on the results. The data further demonstrated the resilience of the US economy, and the probability of a 50 basis point interest rate cut in November naturally disappeared.

This report has rekindled the market's hope that the US economy can achieve a soft landing. The US job market performed well in September, the highest in six months, and the unemployment rate unexpectedly fell. This series of data once again proves that the US economy is still moving forward steadily.

The inflation data to be released this week, especially the US CPI data for September, may provide further guidance to the market. Specifically, the Fed meeting minutes will be released on Wednesday, the September CPI inflation data will be released on Thursday, and the September PPI data will be released on Friday. At the same time, the consumer confidence index will also be released on Friday.

The market currently predicts that the inflation rate will continue to decline, from the previous value of 2.5% to 2.3%. If the data meets expectations, it will be good news for Bitcoin. If the inflation data rebounds in September, the US dollar index may continue to strengthen, and Bitcoin and the US dollar index are uncorrelated.

The cryptocurrency market is recovering

The Chinese stock market will open tomorrow. As mentioned in the Kongbes report, China’s massive stimulus measures have indeed led to some capital inflows into the Chinese stock market, which will continue to affect Bitcoin prices in the short term.

The total cryptocurrency market capitalization has increased by $54 billion over the past day to $2.16 trillion as macroeconomic conditions improve. The recovery bodes well for the broader cryptocurrency market.

Currently, the total cryptocurrency market capitalization is hovering above the $2.11 trillion support level. A successful recapture of the $2.24 trillion support level would fuel further recovery and potentially erase some of the recent losses.

However, it is basically certain that we have entered a cycle of interest rate cuts. Whether the next rate cut is 50 basis points or 25 basis points, it may be good for the US stock market and the cryptocurrency market. In addition, with the election approaching, polls show that nearly half of American voters give priority to candidates who support cryptocurrency.

The big bull market is about to start, and the meme of the SUI public chain ecosystem is taking off. The recent hot coins are waiting for the layout to take off!

CFX

The reason why I mentioned it is that Hong Kong stocks successfully won the title of the best stock market in the world two days ago. On the fourth day of the A-share holiday, Hong Kong stocks reversed and became the best stock market this year. Who could have thought of this script? The A-share market will open tomorrow. Recently, domestic liquidity has entered the financial market. As the leader of domestic concepts, CFX is expected to stand out in this wave of speculation.

After experiencing such a long period of volatility, CFX is now rising at the hourly level. It is currently at the middle track of the Bollinger Band, and this support position is also relatively strong.

BABY

PEPE is a deflationary memecoin launched on the Ethereum network. Inspired by the Pepe the Frog meme, it pays homage to this famous internet personality from the early 2000s. The memecoin is designed to emulate other popular memecoins such as Shiba Inu and Dogecoin.

PEPE has seen a resurgence in popularity recently, partly due to community support and some new capital inflows. The price has firmly stood above the 200 EMA, showing a clear upward trend. Its relative strength index (RSI) also reveals the potential for an upward move, further strengthening confidence.

WIF

WIF, as the leading meme coin in the DWF field, occupies an extremely strong position. When the market enters the upward channel, WIF will undoubtedly become the most dazzling star in the night sky, far ahead of other currencies. In line with the market trend, we should avoid weak currencies in the downward trend and choose strong currencies in the upward trend.

It is a force that cannot be ignored in the future development of the Internet. Its project vision is very clear, which is to build a decentralized Internet. WIF has good technical strength and team background, and the market's attention is gradually increasing. It is a coin that can be deployed in the medium and long term, suitable for patient investors.

TON

TON is a practical coin. With a strong technical foundation and the driving force of the team behind it, TON is expected to go further in the future. The current price is still in a reasonable range, and it is appropriate to absorb funds. TON is more inclined to medium- and long-term layout.

It is uncertain whether TON chain is the next SOL, but as the fourth largest public chain, TON is a good long-term target with a strong technical foundation. Its ecosystem is expanding, not only in terms of trading functions, but also in terms of many DeFi and DApp projects being built on TON. Now the MEME on the TON chain is also gaining popularity.

SHIB

With the launch of Shibarium, Shiba will leave the memecoin stage and become a DeFi, NFT and DEX project. In addition to Shibarium, Shiba has also launched ShibaSwap to the public, a non-custodial exchange that allows token swaps, token holding and earning, and liquidity provision activities. SHIB is also one of the strongest and most active users in the field, with millions of loyal believers.