According to Lookonchain, the U.S. government appears to have been given the freedom to sell the 69,370 bitcoins seized from Silk Road. On October 7, the U.S. Supreme Court refused to hear Battle Born Investments' case regarding the ownership of the bitcoins, which means the government will have full control over the funds. Currently, the market value of these 69,370 BTC is about $4.33 billion, indicating its potential market influence.

It is worth noting that the last time the U.S. government moved Bitcoin was two months ago, when it moved 29,800 BTC worth approximately $2.02 billion, of which 10,000 BTC were transferred to Coinbase Prime. These government actions could have a significant liquidity impact on the Bitcoin market, especially given the current high market volatility.

Investors need to pay close attention to the future actions of the US government, as this will directly affect market sentiment and the supply and demand of Bitcoin. If the government decides to sell these Bitcoins on the market, it may cause price pressure in the short term.

Canary Capital's application for a spot XRP ETF submitted to the SEC is great news for the crypto market! As the second company to apply for such a product this month, it shows that market demand for XRP is rising, especially against the backdrop of growing attention to blockchain solutions.

Steven McClurg's speech emphasized the progress of the current regulatory environment, which supports the legitimacy and acceptance of XRP. Through this ETF, investors will be able to participate in the XRP market more conveniently through traditional brokerage accounts, avoiding the risks of directly holding XRP. This not only lowers the barrier to entry, but also opens the door to more traditional investors.

Although the custodian has not yet been determined, this does not affect our optimism about the market outlook. With the participation of more institutions and the improvement of the regulatory environment, the crypto market will become more and more mature. We have reason to believe that such an ETF will drive up the price of XRP and create rich returns for investors!

The market value of BlackRock's IBIT Bitcoin holdings exceeded $23 billion, marking the growing confidence of institutional investors in Bitcoin. As of October 7, BlackRock held 368,957.4988 BTC, a figure that not only demonstrates BlackRock's ambition in the crypto market, but also injects a shot in the arm for the entire industry.

As more large financial institutions join the ranks of Bitcoin investment, the crypto market is gradually maturing. This trend will undoubtedly attract more retail investors to pay attention to Bitcoin, pushing its price up further. BlackRock's participation shows that the traditional financial community's recognition of Bitcoin is increasing, and more funds may flow into this market in the future.

The upcoming payment of FTX creditors is undoubtedly a positive sign for the cryptocurrency market. K33 analysts estimate that about $2.4 billion in compensation funds will enter the market in the next few months. Although this process may be carried out in batches, it still injects strong liquidity into the market.

Of the $14.4 billion to $16.3 billion in compensation, $3.9 billion has been purchased by credit funds and cannot return to the market, but 20% to 40% of the remaining $8 billion is expected to flow into the crypto market, which means that about $1.6 billion to $3.2 billion will inject new vitality into the market. In particular, FTX's user base is mainly composed of aggressive cryptocurrency investors, which will bring more investment opportunities to the market.

The U.S. spot Ethereum ETF saw a net outflow of 3,345 coins yesterday, worth $8.1 million.

The U.S. spot Bitcoin ETF saw a net outflow of 936 coins yesterday, worth $58.2 million.

BTC: From the current trend, although a tombstone line was closed yesterday, the price still remained above $62,000 and did not experience a sharp correction. The resilience of the bulls still exists, but they are facing pressure near $63,000. Breaking through this level will be the key to launching the subsequent market.

Despite the heavy selling pressure from above, the overall bullish trend of the market remains intact, especially when the strong support level of $60,000 has not been lost. There is no need to be too pessimistic. The recent shock consolidation will help digest the previous gains and accumulate energy for further breakthroughs. Although MACD has flattened, it has not formed an obvious death cross, and RSI is also in the neutral zone, which shows that the long and short forces are relatively balanced. Once long funds enter the market again, the price is expected to break through $63,000 and open up upside space.

Overall, although the market may continue to fluctuate in the short term, the long-term trend is still bullish. We should remain optimistic and patiently wait for the emergence of breakthrough signals. Pressure reference: around 66,000; around 67,900;

ETH: Linked to Bitcoin trend. Pressure reference: around 2868; around 3102;

Altcoins: In terms of altcoins, the trend of high-quality projects is still stable, and some projects have already bottomed out or are building a bottom. Altcoins will have to wait for Bitcoin to strengthen before they can enter the next round of increases.

Today's panic index: 49 (neutral) #你认为PeterTodd是中本聪吗？ #币安LaunchpoolSCR #FTX赔偿计划