Weekly Report: Bitcoin hits new high, Federal Reserve cuts interest rates by 0.1 basis point, Ethereum rebounds...

BTC reached a new high of $76,848 this week, and whether Trump's victory can drive a new round of market, the timing of the market sentiment change is worth observing. The following summarizes the important events of the week, on-chain data updates, and events to watch next week. (Background: Review of Trump's 'full support of Cryptocurrency' Favourable Information pledge: BTC strategic reserve, dismissal of SEC Chairman, no issuance of CBDC) (Background: Dynamic Zone Weekly Report: BTC long and short battles, surge in Intrerest Rate, collapse of the US stock market, CZ's high-profile speech in Dubai..) Important events this week (11/03-11/09) BTC dynamics: broke through the new high to reach $76,848 and refreshed history again, while Ethereum broke through $2900; Standard Chartered is optimistic about BTC reaching $125,000 at the end of the year and surging to $200,000 next year. The Fed's rate cut as expected: Powell stated that as new government policies take shape, the Fed will begin evaluating their impact on the dual goals of stable inflation and maximum employment. U.S. election: Trump's victory led to a general rise in US stocks, but analysts are also concerned about the risk of a resurgence of inflation. a16z senior executives urge Trump: 7 suggestions for the US government to seize the Web3 opportunity after the election. Binance founder: CZ counterattacks SEC, rejects the asset securitization accusation, and requests the court to dismiss the SEC's charges against Binance. Gold fell sharply, and the US dollar continued to strengthen after Trump's election, causing gold to fall. Buffett further reduces holdings in Apple: Berkshire continues to reduce its holdings of 100 million shares of Apple, with cash reserves reaching a record $10 trillion. Arthur Hayes: Solana is more promising, the key is the rate cut, the election has little influence, and the focus is on the Fed's Intrerest Rate policy. Changes in trading market data this week Emotions and zone 1. Fear and Greed Index This week's market sentiment index rose from 74 (greed) to 75 (greed), staying in the (greed) zone all week. 2. Funding rate heat map This week, the highest BTC funding rate reached 17.82%, and the lowest was 7.21%, indicating a continued strong bullish sentiment. The funding rate heat map shows the changing trend of funding rates for different Cryptocurrencies, with colors ranging from green for zero rates to yellow for 50% positive rates, and black representing negative rates; the white candlestick chart shows BTC price Fluctuation in contrast to the funding rate. 3. Zone performance According to Artemis data, the average increase in zone in the blockchain field this week was 10.8%, with stake services, data services, and Decentralized Finance accounting for 19.7%, 19.2%, and 18.3% respectively. BTC and Ether rose by 9.6% and 16.1% respectively this week. The three worst-performing zones are Non-fungible Token (0.4%), Utilities and Services (4.9%), and Bitcoin Ecology (5.3%). Market Liquidity 1. Total Market Cap of Cryptocurrency and stablecoin supply This week's Cryptocurrency total Market Cap data shows an increase from $2.37 trillion to $2.61 trillion, an increase of approximately 10.1%. The total supply of stablecoins, as an important indicator of market health and liquidity, increased from $163.26 billion to $166.05 billion this week, an increase of approximately 1.7%. 2. Significant increase in potential purchasing power within exchanges Data shows that this week, there was a net inflow of assets overall in exchanges, especially after the US election, with a large amount of USDT flowing in. This indicates that investors may be preparing for further market activities, with funds entering exchanges or indicating a potential increase in purchasing demand in the short term. BTC technical indicator 1. Significant net inflow of funds into BTC Spot ETF This week, the net inflow of funds into BTC ETF reached $1.2691 billion, setting a record single-day inflow of $1.36 billion on November 7th. 2. BTC Rainbow Chart The BTC Rainbow Chart shows that the current price of BTC ($75,000) is in the range of 'consider buying' to 'consider Auto-Invest'. 3. BTC realized P&L performance The BTC realized net P&L indicator shows that the market has warmed up, and the ratio of profits to losses is roughly similar to the end of February this year. 4. Long-term BTC holder reducing positions According to on-chain data, the net position change of long-term BTC holders continued the downward trend from last week, turning negative since mid-October. With BTC price breaking through $70,000, the behavior of reducing positions by long-term holders has significantly accelerated, showing a stable net outflow pattern, indicating that some long-term holders choose to take profits at high levels. The behavior of reducing positions by long-term holders has weakened the stable supply foundation, and if this trend continues, it may bring further downward pressure on the market. 5. Strong buying power on-chain for BTC According to on-chain data, the structure of long and short-term BTC holders shows a significant increase in market risk preference. The rise in open interest of short-term holders indicates that short-term funds inflow is driving the price up, strengthening market Liquidity; the increase in short-term holders also reflects investors' more optimistic expectations for short-term market rallies. This week's data reflects an increase in the activity of short-term investors, becoming the main driving force of the market, while the reduction of positions by long-term holders brings a certain degree of uncertainty to the market's future. It is necessary to continue following the dynamics of long-term holders in the coming weeks to judge the sustainability of the market trend. 6. BTC contract open interest hits a new high According to data, the contract open interest of BTC within exchanges showed a steady upward trend this week, rising from $40.55 billion to $46.53 billion, reaching a new high in BTC contract open interest, while BTC price also hit a new high. Important Ethereum technical indicators 1. Net inflow of funds into Ethereum Spot ETF This week, the net inflow of funds into Ethereum ETF was approximately $184.3 million. 2. BTC correlation This week's data shows that the correlation between BTC and ETH and SOL reached 0.97 and 0.99, respectively, indicating a further increase in Consensus among major Tokens, with most major Tokens' correlations stable at around 0.90, reflecting the consistency of market risk preference. However, the correlation between TON and other mainstream Cryptocurrencies remains relatively low, indicating that its price Fluctuation is relatively independent, providing the possibility of risk diversification for investment portfolios. 3. Total Value Locked (TVL) in the Decentralized Finance market This week's data shows that the total value locked in the Decentralized Finance market increased from $96.553 billion, as of last week, to $86.785 billion. Market analysis news this week 1. BTC breaks 76,800 to reach a new high, Ethereum surpasses 2900, the Fed cuts 1 point and the US stock market rises more and falls less BTC reached a new high of $76,848 this morning at around 4 o'clock, while Ethereum broke through $2900. Most U.S. stock indices rose as the Fed cut 1 point, in line with expectations. (Continue reading) 2. Gold sees the largest single-day fall in nearly six months, the safe-haven market disappears? Pay attention to the Fed's announcement of Intrerest Rate decision at 3 am After the election of Republican presidential candidate Trump, the US dollar index reached a 4-month high, while the price of gold fell to a 3-week low. After the election results were announced, the market followed the FOMC meeting decision, and the Fed is expected to cut 1 point in Intrerest Rate at 3:00 am Taiwan time on the 8th. (Continue reading) 3. Trump's first term BTC madness...