Today's homework is more interesting. BTC has seen a rare sharp rise. There are constant voices in the market about a bull market, which has also led to a general rise in ALT (altcoins). So is this really a bull market return? Don't rush to draw conclusions. Wait until tomorrow. I will make a judgment tomorrow after reading the latest data on capital flows and trading volumes. Without data support, it is useless to say anything.

From a macro perspective, there has been no new progress recently, no key data has appeared, and liquidity has not changed fundamentally. Only the election sentiment is gradually heating up. However, it is important to know that we are gradually entering the earnings season, especially the earnings reports of technology stocks will be released one after another.

Financial reports of banks and other financial institutions have begun to be disclosed, with BlackRock's third-quarter revenue of $5.2 billion, up 15% year-on-year. BlackRock's assets under management reached a record high in the third quarter, up 3.63% as of Friday's close, and continued to rise after the opening today. BlackRock's business with the largest amount of funds in 2024 is the spot ETF of#BTCand #ETH, so it is possible that BlackRock's rise has driven the rise in BTC and ETH prices.

Looking back at the data of BTC itself, although the price increase has brought about a certain increase in turnover rate, the focus of turnover is still on short-term profit-making investors, among which investors with holding costs between US$60,000 and US$63,000 have left the market the most, while loss-making investors and earlier investors have no obvious signs of leaving the market.

In terms of support, the chip concentration area between $64,000 and $69,000 continues to expand and is very stable. Short-term investors below $60,000 have been almost cleaned out, and those who can remain can serve as a new round of support.

The data has been updated, address: https://docs.google.com/spreadsheets/d/1E9awSVwrVOxKOiaMdYT5YZvfveeFd9ENU-iO6dVcGj0/edit?usp=sharing

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