1. India has approved a $5.4 billion plan to build two new nuclear-powered submarines, an effort to strengthen its naval capabilities amid growing tensions with the Qing dynasty. These submarines are said to be faster and stealthier than traditional submarines.

2. The death sentence of Fan Yifei, former vice president of the Bank of Qing, was commuted to life imprisonment. Because he accepted bribes of more than 386 million yuan, he was sentenced to death with a two-year reprieve. After the reprieve, his sentence will be commuted to life imprisonment without parole.

3. The global money supply has reached an all-time high of $107 trillion. In addition, the US #降息 50PB may disappoint us. A large interest rate cut will cause the market to worry about economic recession (inflation rose by 2.4% in September, and the number of initial unemployment claims soared to the highest level in more than a year, that is, inflation is too high and unemployment rate is rising)

4. Bitcoin $BTC funding rate is slightly above the 200-day moving average, and bulls are currently in the lead. Historically, during major market changes, funding rates will fall to negative numbers, which usually lays the foundation for the next surge (Figure 2)

5. The yield curve of government bonds began to steepen, with the 2-year bond yield falling by 5 basis points, while the 10-year bond yield remained flat. The steepening shows that people are confident in the interest rate cut cycle again, which is conducive to the strengthening of Bitcoin.

6. Bearish on #Bitcoin: I think this cycle will not create new heights, and the bulls will beat the bears in the next few months.

Back to the inflation data, inflation is generally on a downward trend. What is interesting is that the market reacts to the results for a short period of time instead of reacting to the actual trend (Figure 3)

7. The World Trade Organization#WTOsaid that global trade in goods will grow less than initially expected in 2025 as unstable factors increase pressure on economic activity and threaten to disrupt shipping

8. Bond investors raised bets that the Federal Reserve will cut interest rates by 25 basis points next month as initial jobless claims rose sharply and inflation data exceeded expectations.

Back to Bitcoin, in the past 6 months, whales have accumulated nearly 1.5 million BTC (Figure 4)

9. Latest news: Democrats have different views on Bitcoin, such as Senator Warren (who controls policy and agency appointments) is anti-crypto, while Congressman Ritchie Torres is a strong supporter

10. It is reported that @Uniswap will launch L2 based on Ethereum #ETH🔥🔥🔥🔥 $ETH, which is a layer 2 network designed specifically for#DeFiwith a block time of 250 milliseconds