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According to Bloomberg, the cryptocurrency market is experiencing a tug-of-war between bulls and bears, with analysts still leaning bullish, but the speculative market is shifting towards defense, putting pressure on risk appetite. Bitcoin briefly fell below $80,000 for the first time in nearly a month; affected by the sell-off in the U.S. stock market's AI sector, risk assets retreated, and the bullish sentiment that the cryptocurrency market was trying to rebuild was once again thwarted.Jeff Anderson, head of STS Digital in the U.S., stated that inflation data will "severely impact risk appetite," and the market is entering a quiet period before the Federal Reserve's interest rate meeting, with interest rate expectations still uncertain. Nick Forster, founder of Derive.xyz, mentioned that in the past 24 hours, the market's pricing of Bitcoin's probability of rising to $100,000 before Christmas has decreased by 2.8 percentage points to 9.7%; long-term bullish bets have quickly retreated, short-term hedging demand has surged, and institutions are reassessing macro risk exposure as the interest rate outlook becomes unclear again.

In September, the U.S. PPI annual rate recorded 6.3%, the highest since May 2026, exceeding market expectations of 5.3%.In September, the U.S. PPI monthly rate recorded 1.3%, significantly higher than the market expectation of 0.5%. In September, U.S. retail sales monthly rate recorded 0.8%, above market expectations.

According to Glassnode data, Bitcoin is currently near a support level, but there is a large cluster of long liquidations below. If the price drops further, it may trigger a chain liquidation, with another liquidation cluster around $75,000. In contrast, over the past week, there has been a continuous accumulation of short liquidation positions above $85,000, and the vulnerability of the long liquidation area below is higher than that of the short liquidation area above.

The co-founder of the decentralized perpetual contract platform Hyperliquid, Jeff Yan, stated in an interview with Bloomberg's "Odd Lots" podcast on October 15 that regulatory obligations should be imposed on financial service providers operating markets on the Hyperliquid blockchain, rather than on the blockchain network itself, to reduce the compliance burden for the platform entering the U.S. market.Yan likened this idea to internet infrastructure, believing that the blockchain, as the underlying liquidity and trading infrastructure, should not bear all the regulatory responsibilities of traditional trading platforms directly, but rather the service providers that actually operate the markets and hold relevant control should fulfill compliance obligations. He stated that Hyperliquid does not aim to replace traditional financial institutions on Wall Street, but hopes to provide them with underlying trading technology, similar to how Amazon Web Services provides computing infrastructure to businesses.Yan mentioned that the team is seriously advancing the development of Hyperliquid into an infrastructure covering various financial markets. Currently, Hyperliquid is still not open to U.S. users, but Kraken's parent company Payward has planned to offer derivative services to U.S. investors through a regulated trading platform, utilizing its technology.

According to the market information platform Liquid247.xyz, the current price of BTC is $81,452. The thickest order book is on Binance perpetual: sell orders amount to $48.2242 million, buy orders amount to $46.5586 million, with sell orders exceeding buy orders by $1.6656 million.The spot buy orders on Binance are thicker than the sell orders, but the scale is smaller than the perpetual. Since the sell orders on Binance perpetual are thicker, if a large buy or sell suddenly occurs, exchanges with thinner order books will be affected first, and price fluctuations will be more pronounced.

According to the market information platform Liquid247.xyz, the current price of ETH is $2,361.52. The thickest order book is on Binance perpetual: sell orders amount to $63.3768 million, buy orders amount to $49.6463 million, with sell orders exceeding buy orders by $13.7305 million.The buy orders on Binance spot and Coinbase spot are thicker than the sell orders, but the scale is smaller than that of Binance perpetual. If a large buy or sell order suddenly appears, exchanges with thinner order books will be affected first, and price fluctuations will be more pronounced.

In a post on platform X, Saifedean Ammous, the author of the 2018 academic work "The Bitcoin Standard," stated that Bitcoin already possesses monetary functions. Holding Bitcoin is equivalent to using Bitcoin as currency. Its limited use as a payment method does not prove that its monetization process will not continue to advance. He believes that as Bitcoin matures, its volatility will be lower than that of gold, and its market capitalization will surpass that of this largest precious metal globally.Ammous's viewpoint is a response to the relevant discussions in the work "Better Money: Gold, Fiat, or Bitcoin?" by American economist Lawrence H. White. White cited content from Chapter 6 of that book on platform X, stating that Bitcoin's supply is fixed and cannot respond to changes in demand, resulting in excessive price volatility, making it difficult to become the reliable medium of exchange that people need. This is also the reason why stablecoins have surpassed Bitcoin in trading volume.Similar judgments have been made in the industry previously. In May 2025, André Dragosch, the European research director at Bitwise, told Cointelegraph that their internal forecast predicts Bitcoin will reach $1 million by 2029, at which point its market capitalization could be comparable to gold. However, Bitcoin's current market capitalization of approximately $1.6 trillion needs to grow at least 18 times to exceed gold's nearly $29 trillion market capitalization and become the largest asset in the world.

According to Catcher Predict monitoring, in the market prediction on Polymarket for the event "LoL: BNK FEARX vs KT Rolster - Demacia Cup Global Invitation Playoffs," the "Over" option for the sub-market "Total Kills Greater than 24.5 in Game 4" has experienced a sharp fluctuation in winning probability, dropping from 69.5% an hour ago to the current 53.5% (a fluctuation of 16%). Please note the impact of related breaking news.

According to the market information platform Liquid247.xyz, the current price of BTC is $83,443. The thickest order book is on Binance perpetual: sell orders amount to $42.0836 million, buy orders amount to $32.5048 million, with sell orders exceeding buy orders by $9.5788 million.Coinbase's spot sell orders are also thicker than buy orders, but the scale is smaller than that of Binance perpetual. If a large buy or sell order suddenly appears, exchanges with thinner order books will be affected first, and price fluctuations will be more pronounced.

John Williams, the president of the New York Federal Reserve, stated that the supply of AI devices may take more than two years to catch up with demand, which could increase inflationary pressures. He made these remarks during an interview with Bloomberg on Tuesday, noting that the construction of AI infrastructure is driving up the prices of chips and goods that use chips. When asked whether the supply and demand for AI would balance out in the next two years, Williams said, "I think it will take longer. Assuming the demand impulse continues as expected, and that is a big assumption."Williams also reiterated his view that the Federal Reserve may need to raise interest rates once more this year to curb inflation. He stated, "I have not changed my view that we may need to raise rates again." However, regarding 2027, he said, "We need to observe," and added, "At this point, I see no reason to believe we need to do more." He also predicted that even with rising interest rates, AI investment will remain strong, as relevant investors are relatively insensitive to prices, believing that AI will bring significant productivity gains and economic transformation.The shortage of AI device supply may affect Bitcoin miners entering the field, as they need to compete for chips and power equipment. IREN signed a new $2.8 billion AI cloud contract in July, while Bitcoin miners face huge financing demands when advancing AI projects, and lenders are becoming increasingly picky.

According to K33 Research, the U.S. government transferred approximately 17,733 BTC to Coinbase Prime this week, including 12,267 BTC related to the Bitfinex hacking incident. After the transfer, the government's marked holdings decreased from 324,527 BTC to 306,795 BTC. If we include unmarked suspected government wallets, the total amount of BTC transferred to Coinbase Prime is about 21,500 BTC.Analysis suggests that this transfer is likely a custody operation rather than a sale—Coinbase Prime has been the custodian for the U.S. Marshals Service since 2024. The cryptocurrencies related to Bitfinex are still in the claims process, and the Department of Justice has requested that victims be compensated in BTC; the ban on the strategic Bitcoin reserve only covers cryptocurrencies that have been fully confiscated. Additionally, about 1,200 BTC from FTX and HashFlare were transferred simultaneously, which may be paid to victims in cash through compensation channels.It is noteworthy that approximately 15,000 BTC related to Bitfinex claims were transferred within two days, which may indicate that the distribution plan or related rulings are progressing.

According to Bloomberg, European venture capital firm Sprints has completed the fundraising for its fifth fund, totaling 725 million euros (approximately 810 million dollars). Henrik Persson, co-founder and managing partner of the firm, stated that the fundraising took about a year, and more than half of the funds have already been deployed for investments in new companies and the existing portfolio, with investors including endowment funds, foundations, pension funds, and family offices.Sprints made early investments in Revolut and is the largest shareholder of the second-hand trading app Vinted, as well as investing in Flightradar24 and payment company Checkout.com. Its invested AI customer service company Fin was acquired by Salesforce this year for 3.6 billion dollars. Persson mentioned that the firm has not invested in any foundational AI companies, as most of these companies have not yet developed a business model.

According to the market information platform Liquid247.xyz, the current price of BTC is $83,384. The thickest order book is on Binance spot: buy orders of $13.407 million, sell orders of $12.9884 million, with buy orders exceeding sell orders by $418,700.OKX perpetual buy orders are also thicker than sell orders, but the scale is smaller. If there are large buy and sell orders, exchanges with thinner order books will be driven first, and price fluctuations will be more pronounced.

According to the market information platform Liquid247.xyz, the current price of ETH is $2,463.31. The thickest order book is on Binance perpetual: buy orders amount to $56.6135 million, sell orders amount to $54.3143 million, with buy orders exceeding sell orders by $2.2991 million.The spot buy orders on Binance are also thicker than sell orders, but the scale is smaller than that of the perpetual. If a large buy or sell suddenly occurs, exchanges with thinner order books will be affected first, and price fluctuations will be more pronounced.

According to Gate market data, spot gold has dropped more than 10 dollars in the short term, currently reported at 4,160.17 dollars/ounce.

According to the market information platform Liquid247.xyz, the current price of BTC is $83,765. The thickest order book is on Binance spot: buy orders at $13,993,600, sell orders at $9,694,300, with buy orders exceeding sell orders by $4,299,300.OKX's perpetual buy orders are also thicker than sell orders, but the scale is smaller. If a large buy or sell order suddenly appears, exchanges with thinner order books will be affected first, and price fluctuations will be more pronounced.

According to the market intelligence platform Liquid247.xyz, the current price of ETH is $2,534.93. The thickest order book is on Binance perpetual: buy orders at $43,650,900, sell orders at $43,608,300, with buy orders exceeding sell orders by $42,600.The buy orders on Binance spot, OKX perpetual, and Hyperliquid perpetual are also thicker than the sell orders, while Coinbase spot has thicker sell orders. If a large buy or sell order suddenly appears, exchanges with thinner order books will be affected first, and price fluctuations will be more pronounced.

The International Monetary Fund (IMF) stated that the liquidity of tokenized stocks is lower than that of traditional stocks, and their volatility is also higher.Watcher Guru cited the IMF's relevant statement, saying that compared to traditional stocks, tokenized stocks "have lower liquidity and greater volatility." This statement points to the IMF's assessment of the market structure of tokenized assets, involving comparisons of trading depth, price fluctuations, and traditional securities markets.

According to the market information platform Liquid247.xyz, the current price of BTC is $83,074. The thickest order book is on Binance spot: buy orders amount to $42,401,600, and sell orders amount to $6,496,000, with buy orders exceeding sell orders by $35,905,600.Binance perpetual sell orders are thicker than buy orders, with a net difference of $13,455,300. Other exchanges also have thicker buy orders than sell orders, but on a smaller scale. If a large buy or sell order suddenly appears, exchanges with thinner order books will be affected first, and price fluctuations will be more pronounced.

According to the market information platform Liquid247.xyz, the current price of ETH is $2,510.44. The thickest order book is on Binance spot: buy orders amount to $8.2185 million, sell orders amount to $6.0449 million, with buy orders exceeding sell orders by $2.1736 million.The sell orders on Binance perpetual, Coinbase spot, OKX perpetual, and Hyperliquid perpetual are all thicker than the buy orders. If a large buy or sell order suddenly appears, exchanges with thinner order books will be affected first, and price fluctuations will be more pronounced.