This week, the Bitcoin market has shown a typical trend structure of "rising and facing resistance, followed by a quick pullback," and we need to be cautious of technical corrections and potential mid-term trend reversal signals in the short term. On June 13, affected by fluctuations in geopolitical situations and risk aversion sentiments, Bitcoin, as a high-volatility risk asset, faced downward pressure. Meanwhile, on-chain transaction activity has been sluggish, compressing miners' fee income space. However, overall, the mining ecosystem is operating smoothly, and miners' income remains at a relatively robust level.

This week, Bitcoin showed a fluctuating upward trend, continuously breaking through multiple key resistance levels, demonstrating a strong performance. The price successively broke through the two major psychological barriers of $110,000 and $111,000, setting a new stage high with significant gains. The market is expected to further open up upward space. Meanwhile, the overall profitability of mining activities continues to improve, significantly expanding miners' profit margins.

In the past week, market volatility has unexpectedly surged. The price first dropped, and after the collapse of the $89,000-$91,000 support level that the market had relied on since the election, it fell all the way down to $79,000. However, interestingly, this volatility can be seen as the end of the correction and consolidation since last November-December, preparing for a new wave of market movement.

February 17-23 Blockchain Game On-chain Data and Industry Trends

In the third week of February 2025, the Bitcoin market experienced significant volatility, with price fluctuations ranging from $93,487 to $99,454, a swing of over $6,000. The combination of hawkish signals from the Federal Reserve and economic weakness in Central Europe suppressed market risk appetite, while Texas, Montana, and Utah accelerated the advancement of Bitcoin reserve legislation. Trump's signing of an executive order to end the "crypto war" fueled the rising narrative of sovereign reserves.

11.17 - 11.23 Web3 Game Industry Trends and Rankings

Cryptographic payment, the last and also the final major event.

The U.S. Labor Statistics Bureau released the latest CPI data yesterday, showing that the consumer price index growth rate in August fell to 2.5%, below the expected 2.6% and lower than July's 2.9%. This marks the fifth consecutive month of slowdown and is the lowest level since March 2021. The core CPI year-on-year growth rate for August, excluding food and energy prices, is 3.2%, matching both the expected value and the previous value. However, the month-on-month core CPI growth rate is slightly higher than expected at 0.3%, causing the month-on-month core CPI data to slightly exceed expectations, which reduces the likelihood of the Federal Reserve cutting interest rates by 50 basis points this year. After the CPI data was released, the market believes that the probability of the Fed cutting rates by 25 basis points this month has increased from 66% yesterday to 85%, while the probability of a 50 basis point cut has decreased to 15%.

Zytron Pioneer - Layer 3 network form of zk gaming infrastructure on Linea has entered the pre-mainnet phase.