10.31 Market Analysis 📊
🔍 On-chain Data Insights:
Stablecoins have continued to flow in from October 24 to 30, but have not broken the two-month high.
Funds are pouring into BTC, while altcoins have yet to benefit.
Since October 28, over 10,000 BTC have flowed out of exchanges.
📈 BTC Trend Prediction:
The upward trend of BTC is obvious, but the correction point is unknown.
Whales and ETF cost lines are at £55,000, current price is £72,000, already profiting 30%.
Referencing the S&P 500's annual average increase of 12%, BTC reaching £82,000 would yield over 50% profit, potentially triggering profit-taking.
As it approaches £82,000, BTC may face a significant correction.
Current on-chain data shows BTC continues to flow out, with risks relatively controllable.
🗳️ U.S. Election Dynamics:
This presidential election is tight, with two candidates evenly matched.
Polls in seven swing states are closely contested, making the outcome uncertain.
💼 Economic Data Impact:
The small non-farm payroll data was released, with 233,000 new jobs added, the highest since July 2023.
Slight bearish: Strong employment may affect the Federal Reserve's interest rate cut decision.
Tonight at 8:30 PM, PCE data will be released, and tomorrow night at 8:30 PM, non-farm data will be out.
📊 Market Outlook:
If there are no significant bearish factors in the non-farm data over the next two days, BTC is expected to break through £74,000 after consolidating.
Stay tuned and invest rationally!
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