The Glassnode report points out that when Bitcoin broke through $85500, the trading volume was low and the incremental funds were limited. The average daily trading volume of spot trading platforms and US spot ETFs is about 6.8 billion US dollars, which is lower than about 90% of trading days since January 2024. Within 30 days, ETF, stablecoin growth, and corporate treasury purchases brought in approximately $4.9 billion in new funds, which is less than 40% of the $12.8 billion realized market value increase during the same period. Short term holders who made profits on October 4th contributed approximately 86% of the trading platform inflows that day, setting a new one-year high. The ratio of open put to call options in the options market is approximately 0.56. Recently, the clearing level has been concentrated below the price, with large clusters ranging from 81700 to 83300 US dollars, and Binance's maximum buying range ranging from 81000 to 81250 US dollars. If it stabilizes above $85500, the bearish clearing cluster around $92000 may enter the touch range. If the $81000 buy order falls below, the clearing cluster below may be triggered.

Cryptocurrency trading and market making institution GSR has committed to investing $100 million to collaborate with liquidity distribution platform Turtle to build on chain credit business Hare, responsible for creating and managing on chain vaults. GSR will provide funds in the form of credit lines and invest its own funds as initial liquidity. Hare will launch Hare USD Earn and Hare Gold Earn products based on Aave, and Paxos Labs will participate in the gold product cooperation. Hare CEO Connor Milner stated that the funds promised by GSR will be deployed directly, providing liquidity to the issuer, and investors can see that GSR's own funds are in the same vault as its own funds.

Investors are paying attention to the upcoming FOMC meeting minutes in search of clues regarding the Federal Reserve's decision to raise interest rates last month. BMO strategist Ian Lingen stated that the Market Watch Committee has discussed the framework for Federal Reserve Chairman Kevin Walsh to raise interest rates in order to maintain policy credibility, as well as how the FOMC evaluates the risk balance faced in achieving its dual mission. (Source: Jin Shi)

An engineer has been sentenced to 32 months in prison for a Bitcoin extortion conspiracy against his employer.

Polymarket CEO Shayne Coplan stated that the pursuit of hundredfold tokens belongs to irrational exuberance and the game of passing the buck. Polymarket users tend to participate in event trading with predictable odds rather than searching for hundredfold tokens. Polymarket predicts a trading volume of 1.21 billion US dollars in the past 7 days, while Kalshi predicts a trading volume of 2.3 billion US dollars during the same period. Several states in the United States have taken legal action against Polymarket, Kalshi, or both regarding sports event contracts, and multiple countries and regions have restricted or blocked access to Polymarket. (Source: Cointelegraph)