Oct.8-Oct.14(BTC)Weekly market recap

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Last week, the U.S. CPI data for September was released. Although the CPI figure was higher than expected, it was still lower than the previous value. We believe that once the Federal Reserve enters a rate-cutting cycle, as long as the CPI data does not deviate significantly from expectations, the market will not price in a recession or an inflation rebound. It will generally be a positive outcome. After experiencing an aggressive rate-hike cycle, moving into a rate-cutting cycle means that capital will no longer need to worry about liquidity changes. At the early stages of rate cuts, investors will need to think about which markets to enter to achieve high returns.

We have observed the performance of the Chinese stock market at the end of September, and yesterday, the BTC ETF saw an inflow of over $500 million, marking the largest inflow in the past three months. Capital is beginning to return to the cryptocurrency market, and the continuous inflow of funds is providing support to prices.

BTC began rebounding last week and climbed above 65,000 yesterday, nearing recent highs. On a larger scale, it remains within the previous consolidation range. Therefore, the ME indicator does not give a clear signal and still shows a consolidation trend. From the WTA indicator, we see that large whales have not participated in the recent rebound.

In summary, we believe the probability of BTC moving upward is greater than downward. We maintain the previous resistance levels of 68,000 and support levels of 52,500.

Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.

Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.