Good morning! US stock indexes fell across the board overnight, with the Nasdaq down 1.01%, the S&P 500 down 0.76%, and the Dow Jones down 0.75%. The market has been volatile, leading to short-term contract liquidation. This rally was mainly driven by large inflows from ETFs, the proximity of the US presidential election, and the easing of selling pressure. Yesterday, the net inflow of US spot Bitcoin ETFs reached $556 million, with all ETFs except BTCW seeing inflows. US presidential candidate Kamala Harris announced her support for a "regulatory framework for cryptocurrencies and other digital assets" in her campaign speech, although she did not disclose further details, which has somewhat stimulated the market's growth. Now, with less than three weeks to go until the US presidential election, Harris’ change of heart means that no matter which candidate takes office, the likelihood of a strong negative impact on the crypto market is very low.

For Bitcoin, in yesterday's daytime trading session, the price maintained a narrow correction period, rising to 67950 at one point in the evening, then quickly falling to 64800 and starting to recover, with a fluctuation range exceeding 3000 points. In the cryptocurrency market, sharp price drops and money laundering frequently occur. From the perspective of technical analysis, a healthy uptrend will inevitably be accompanied by corrections, only then can the growth structure be solid and durable. Whether the October performance can break through the large price zone and create a historical high, the second half of this month will be the key moment. I still firmly believe that as long as Bitcoin can break through 70,000, it will not be a problem to create a historical high. Once such a development occurs, even if the price rises to 80,000 or even above 80,000, it is necessary to maintain rationality, short-term support can pay attention to the 64500 - 64000 zone. From the perspective of trend analysis, I mainly lean towards the uptrend, the second half of October is still firmly looking at the uptrend.

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