10月DeFi永续合约交易量首次突破1万亿美元，创历史新高。其中，Hyperliquid以3176亿美元领跑，Lighter和Aster分别录得2554亿美元和1776亿美元交易量。（Cointelegraph）

[Bitcoin Heat Macro Indicator Enters Accumulation Zone, Market Speculation Pressure Weakens] Cryptoquant analyst Axel Adler Jr stated that the Bitcoin Heat Macro Phase indicator has entered the bottom and accumulation zone, indicating a significant reduction in market speculation pressure. This indicator is typically associated with the accumulation phase during bull market cycles, suggesting the potential for a new round of price increases. The analysis points out that if the Bitcoin market rebounds, two key conditions must be met: further reduction in market volatility and no major negative events globally in the coming week.

**[Matrixport: Bitcoin Falls Below Bull-Bear Threshold for Two Consecutive Weeks, Momentum of Capital Inflows Weakens]** Matrixport released a market analysis indicating that Bitcoin's recent price performance suggests the market is transitioning from a bull phase to consolidation. Although the macro environment remains supportive, including the Federal Reserve's accommodative policies and stable liquidity conditions, multiple technical and on-chain indicators show signs of short-term market fatigue. Bitcoin has fallen below the 21-week moving average for two consecutive weeks, a critical technical indicator often regarded as the bull-bear threshold. Meanwhile, the growth of on-chain liquidity has slowed, and realized market cap data reflects weakening capital inflows. The flash crash on October 11 exacerbated market fragility, triggering billions of dollars in forced liquidations and a chain reaction that led to a decline in open interest. Long-term holders have started taking profits. The strengthening of the U.S. dollar, declining bond yields, and weak labor market data collectively suggest that global economic growth momentum may be weakening. Risk assets are likely to remain range-bound until market confidence recovers.

Bitget MYX/USDT perpetual trading volume surged 18 times in 10 minutes, with a turnover of 2.79 million US dollars in the past 24 hours, an increase of 8.61% A surge in trading volume generally indicates an increase in market trading activity or large-scale fund buying and selling operations, which may be caused by certain important market changes or news announcements. According to AiCoin data, the comprehensive ranking of Bitget contracts ranks fourth globally

Analysts see similarities to past Wyckoff accumulation phases, suggesting potential for further price increases if support holds above $0.194.