CryptoQuant analyst Darkfost stated that Bitcoin is approaching the average cost price of the two major holding groups, with a cost price of approximately $88350 for 18 month to 2-year investors and $89200 for 6 to 12-month investors. Darkfost pointed out that the cost price is the group average holding cost, and as the price approaches this range, the selling or buying behavior of related investors may affect the upward momentum of Bitcoin.

Standard Chartered Bank predicts that the European Central Bank will cut interest rates by 0.25% in the first quarter of 2028.

Cboe Global Markets is considering launching perpetual futures based on the VIX index to meet customers' demand for VIX spot exposure. Rob Hocking, Global Head of Derivatives at Cboe, stated that perpetual futures are a solution for obtaining VIX spot exposure, and options have advantages such as non-linear returns compared to perpetual futures. He called on regulators to provide clearer guidance on the regulation of perpetual contracts. (Source: Bloomberg)

During the parliamentary debate in the Netherlands, the Secretary of State placed cryptocurrency on par with cognac, gold, silver, and Pok é mon cards, and explained the reasons why cryptocurrency was not included in the proposed tax amendment. The discussion involves the possibility that cryptocurrency ETFs may be subject to different tax rules than directly holding cryptocurrencies. (Source: Bitcoin News)

According to QCP Capital analysis, BTC has broken through the range of 82500 to 85700 US dollars, hitting 86913 US dollars during trading and currently trading at 85900 US dollars, up 14.6% from the low of 74968 US dollars. This round of increase is driven by spot funds, with an annualized funding rate of only 5.4% for perpetual contracts. The US Bitcoin spot ETF had net inflows of $3.5 billion and $2.6 billion in August and September, respectively. The nominal amount of the options market yesterday was about $250 million, involving 54 block trades exceeding $5 million. A client sold 4000 call options with an exercise price of $90000 expiring on October 30th, for a nominal amount of $346 million, and bought an option with the same price expiring on November 27th. QCP Capital believes that the market is driven by capital flows and positions, and macro risks have not yet been eliminated. (Source: QCP Capital)