According to BlockBeats, the market was relatively calm last week, with US stocks, US Treasury yields, US dollar exchange rates, gold and BTC prices approaching mid-term or year-to-date highs. US economic data was strong, with retail sales higher than expected and the number of unemployment claims remaining stable.

Earnings season was good, with US banks, Netflix and TSMC far exceeding expectations, and the SPX rose for six consecutive weeks, the best record this year. Investors are confident about the market and corporate earnings, and option implied volatility is about 5% below the recent average.

The recent focus is on the US election. Polymarket predicts that Trump has a 60% chance of winning, while traditional predictions are closer to 50/50. The trend of US bond yields is highly correlated with Trump's chance of winning.

BTC broke through the downward channel and the price exceeded $68,000. ETFs have received inflows of approximately $2.4 billion in the past six trading days. BTC futures open interest has surged, and new long positions have been established in the market.

The increase in BTC inflows coincided with an increase in CME derivatives trading activity, with CME futures open interest exceeding $11.5 billion, a record high. CME open interest growth was driven by direct participants, showing a healthy bullish structure and active buying bias.

The market is currently focusing on the US election. The most favorable outcome is that Trump wins and the Republicans sweep both the Senate and the House, giving the digital asset reform plan a chance to pass Congress. The second best outcome is that Trump wins but Congress is divided, and the reform plan may encounter resistance. Harris's election brings more uncertainty.