HashWhale

From November 1 to November 7, Bitcoin's overall trend showed a pattern of "sideways consolidation → rapid decline → low-level rebound and repair." The price mainly fluctuated between $111,000 and $101,000, with a significant drop during this period. On November 5, it briefly fell below the psychological level of $100,000, setting a new low for recent months. This was influenced by tightening macro liquidity and large-scale leverage liquidation.

From October 25 to October 31, Bitcoin overall presented a market rhythm of "first sideways consolidation → strong breakout → accelerated short liquidation surge → profit-taking pullback → wide fluctuations." The main price range was maintained between $106,398 and $116,000, with significant overall volatility, indicating that the short-term trend of the market is unstable and there are signs of capital speculation.

This week, Bitcoin's overall operating rhythm is characterized by "sideways consolidation → oscillating rise → short-term breakout → stabilization and rebound." The main price range is maintained between $106,000 and $114,000, with an overall fluctuation of about 7.5%, during which the forces of bulls and bears frequently alternate. The market has not yet completely escaped uncertainty and may still be affected by factors such as macro policies, exchange liquidity, and changes in capital flow in the short term.

From 121.40k to 105.88k, the "impact, repair, and reset" resulted in a hash rate of 1.240 ZH/s, with the hash price falling in the range of 47 to 49 USD.

Price fluctuations in intervals, elastic computing power, stable miner economy

This week, Bitcoin has consolidated downward from the 115–116k high to the 109k range; the inflow and outflow of spot ETF funds triggered two liquidation waves, and the wait-and-see attitude before macro data has weakened risk appetite. Network hash rate has fallen from the historical high on 9/20 to a stable range of about ~1.1 ZH/s, and as Hashprice dropped below $50/PH/s/day, miner profits have simultaneously tightened.

In the past week, Bitcoin has been trading in the range of $114,400–$117,910, transitioning from a sideways consolidation to a breakout attempt driven by the Federal Reserve's interest rate cuts. Market momentum primarily stems from changes in expectations regarding Federal Reserve policy, the 25 basis point rate cut on September 18, ongoing ETF inflows, and improved risk appetite.

In the past week, Bitcoin's overall performance has been characterized by "sideways consolidation → volatile ascent → sideways accumulation → upward breakout." Under the combined forces of macroeconomic easing expectations, continuous inflow of ETFs, and institutional accumulation, Bitcoin has transitioned from a phase of volatile consolidation to a breakout. The price has switched between the $110,000 – $116,000 range, accompanied by gradually increasing trading volume, and the market structure has shifted to a bullish bias.

This week, Bitcoin gradually recovered after experiencing a period of low consolidation and迎来了阶段性调整 before the release of key macro data. The overall market structure still appears fragile, and investor sentiment remains defensive. In the short term, there are still volatility risks in the market. Short-term operations should remain cautious, while in the medium to long term, it is still recommended to pay attention to the interaction effects of macro policies and institutional funds.

This week, Bitcoin entered a correction phase after a rapid surge, stabilizing around $110,000. Subsequently, the price gradually rebounded mid-week, showing a phased trend of "rally - pullback - bottoming - recovery." Meanwhile, funds began to flow from Bitcoin to Ethereum, with daily inflows into Ethereum nearing $900 million, approaching the inflow level of Bitcoin, indicating that market attention is gradually shifting towards Ethereum.