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Bitwise: Bitcoin's implied volatility has dropped to a three-year low, and long-term holders continue to distribute chips

Bitwise released a report indicating that Bitcoin is currently holding resiliently around $82,000, a price level close to the spot ETF holding cost. Key support levels below include the short-term holder cost price of approximately $74,800 and the real market average of about $77,600. The former can serve as a reference for judging the short-term market direction, while the latter corresponds to the price level at which half of the invested capital in the market is in profit or loss. The price range formed by these two points may become the dividing line between bulls and bears.The trading range for Bitcoin over the past 30 days and 60 days has narrowed to 1.8% and 3.0%, respectively, with the implied volatility at-the-money for each term also approaching the lower end of the distribution range over the past three years. Among them, the 3-month and 6-month implied volatility are at the 0.8 and 0.2 percentiles of historical distribution, indicating that the market's pricing for future volatility has dropped to extremely low levels.So far this week, net inflows into U.S. Bitcoin spot ETFs have reached $1.074 billion, rising in sync with the cumulative trading volume of the spot market, providing support for Bitcoin prices and offsetting some macro pressures. However, realized profits in the market have also increased, particularly among long-term holders. Meanwhile, the net position change indicator for long-term holders is negative, suggesting they may be in a distribution phase, which could be one reason for the ongoing consolidation of Bitcoin prices.

Wang Xingxing said he is afraid of wasting every day and expects breakthroughs in physical AI within two to three years

On October 22, at the 2026 World Physics AI Conference and Yushu Partner Ecosystem Conference, Yushu Technology founder Wang Xingxing stated, "I am really very afraid of wasting each day," demonstrating a strong sense of urgency regarding the acceleration of physical AI.Wang Xingxing believes that top AI models have already penetrated the mathematical world, and physical AI has also shown signs of being penetrated, with the breakthrough likely occurring in the next 1 to 2 years or 2 to 3 years. Live demonstrations showed that the Yushu robot equipped with GPT-6 could complete tasks such as painting, playing chess, and recognizing color palettes without additional training, indicating that the model can solve some planning problems. He expects that by the end of this year or next year, the robot is expected to complete tasks like organizing a room as instructed.In light of this time window, Yushu Technology officially launched the "Yuchuang Plan," opening recruitment for embodied intelligent entrepreneurs with core technologies, aiming to incubate over 200 ecological enterprises in the next five years. Wang Xingxing also pointed out that after the breakthrough point of physical AI, robot hardware needs to reach a scale of producing tens of millions of units annually, and emphasized the importance of core resources such as data, computing power, chips, and energy.
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