[Coinbase Hacker Repurchases 9,240 ETH at an Average Price of $4,269] According to monitoring by Lookonchain, on October 14, the Coinbase hacker who had stolen over $300 million purchased 9,240 ETH at an average price of $4,269, with a total value of $39.45 million. Previously, the hacker panic-sold 8,638 ETH during a market crash at an average price of $3,764, incurring a loss of approximately $5.5 million.

[Dubai's New Financial Strategy Positions Virtual Assets as a Core Pillar] Dubai has unveiled a new financial sector strategy, aiming to increase the scale of virtual assets to 3% of GDP, approximately 13 billion AED. As of this year, institutions regulated by the UAE Virtual Assets Regulatory Authority have achieved a cumulative transaction volume of 2.5 trillion AED, with asset management scale growing to 9.6 billion AED.

[The Crypto Market Loses $380 Billion in a Week, Altcoin Market Cap Shrinks by $131 Billion] According to data from 10x Research, the cryptocurrency market lost approximately $380 billion in market capitalization over the past week, with altcoins contributing $131 billion to the decline. This round of market collapse has sparked widespread doubts about the future of the altcoin ecosystem. Traders and market makers have pointed out that the structural support for altcoins is crumbling, with fewer market buyers and heightened risk aversion. Morten Christensen, a trader at (AirdropAlert.com), stated that while altcoins may offer higher potential gains, their volatility is extreme, with single-day drops of up to 50% and weekly plunges of as much as 90%. Needham & Co. analyst John Todaro added that altcoins carry significantly higher risks compared to large-cap crypto assets, but deliver lower returns. Wintermute CEO Evgeny Gaevoy bluntly remarked that the altcoin market may shrink further.

[Surge in Demand for Bitcoin and Ethereum Put Options as Market Hedges Downside Risks] Following last Friday's liquidation cascade, the options market indicates that investors are preparing for potential further declines in Bitcoin and Ethereum. Sean Dawson, Head of Research at Derive.xyz, pointed out that short-term market volatility sentiment is heating up, with traders heavily purchasing Bitcoin and Ethereum put options to hedge against potential risks. Data shows a surge in demand for Bitcoin put options with strike prices of $115,000 and $95,000 expiring on October 31, while call options with a strike price of $125,000 expiring on October 17 have shifted from buying to selling, reflecting bearish short-term market sentiment. Additionally, traders are also focusing on Ethereum options with strike prices of $4,000 (expiring October 31) and $3,600 (expiring October 17), while a significant amount of put options with a strike price of $2,600 expiring on December 26 have been purchased. Nic Puckrin, co-founder of Coin Bureau, stated that although the recent crash has cleared excessive leverage, Bitcoin must break through key resistance levels to achieve a new all-time high.

OKX-BTC/USDT is currently trading at $113980, with a 5-minute decline of 0.09%. Please pay attention to market fluctuations.