Bitcoin Nears $68K; US Non-Farm Payrolls Loom as Market Focus
Bitcoin reached its highest point at $68,344 early this morning (28th). Kraken analysts stated that as long as Bitcoin remains above $66,500, it is still in an uptrend, and it is expected to challenge the historical high of $73,679 set in March next.
Bitcoin (BTC) continued to fluctuate between $66,600 and $67,400 over the weekend, until a stronger increase began around 8 p.m. last night, reaching its highest at $68,344 early this morning (28th). As of the time of writing, it has slightly retreated to $67,780, with a 24-hour increase narrowed to 1.25%. Whether it has the potential to challenge the previous high of $69,500 set on the 21st last week remains to be observed.
Ethereum once broke through $2,500
Ethereum's trend is similar to that of Bitcoin, reaching its highest at $2,528 in the early morning, currently reported at $2,497, with a 24-hour increase of 1.25%.
A comprehensive recovery of the top ten tokens
Data from CoinMarketCap shows that most of the other top ten tokens have also increased in the past 24 hours, with SOL and DOGE being the stronger ones, increasing by 2.47% and 3.55%, respectively.
A single-day liquidation of $71.54 million across the network
Advertisement
Data from Coinglass shows that in the past 24 hours, the amount of liquidated cryptocurrency across the network is approximately $71.54 million, with more than 35,000 people being liquidated. However, the overall liquidation amount during the weekend is not too large, so it is expected that volatility may further increase.Can Bitcoin Break Through to New Highs?
Kraken analysts released a report on the 26th, analyzing that as long as Bitcoin stays above $66,500, it remains in an uptrend. Bitcoin is above all major moving averages, indicating that bulls continue to hold the upper hand. As long as the upward momentum continues, the next key stage will be the historical high of $73,679 set in March:
Breaking through this level successfully could open the door for new price discovery and further upward momentum.
Market Focus of the Week
10/29 (Tuesday)
United States: October Conference Board Consumer Confidence, previous value 98.7
United States: September JOLTS Job Openings, previous value 8.040M
10/30 (Wednesday)
Germany: Q3 GDP (quarterly环比), previous value -0.1%
Switzerland: Central Bank Press ConferenceUnited Kingdom: Autumn Budget
United States: October Non-Farm Payrolls Change, previous value 143K
United States: Q3 Gross Domestic Product (GDP) (quarter-over-quarter), previous value 3.0%
Germany: October Consumer Price Index (CPI) (month-over-month), previous value 0.0%
United States: Crude Oil Inventories, previous value 5.474M
10/31 (Thursday)
China: October Manufacturing PMI, previous value 49.8
Japan: Interest Rate Decision, previous value 0.25%
Hong Kong: Q3 Gross Domestic Product (GDP) (quarter-over-quarter), previous value 0.4%
Hong Kong: Q3 Gross Domestic Product (GDP) (year-over-year), previous value 3.3%Eurozone: October Consumer Price Index (CPI) (year-on-year), previous value 1.7%
United States: September Core PCE Price Index (year-on-year), previous value 2.7%
United States: September Core PCE Price Index (month-on-month), previous value 0.1%
United States: Initial Jobless Claims
November 1st (Friday)
United States: October Average Hourly Earnings (month-on-month), previous value 0.4%
United States: October Non-farm Payrolls, previous value 254K
United States: October Unemployment Rate, previous value 4.1%
United States: October ISM Manufacturing PMI, previous value 47.2
United States: October Manufacturing PMI, previous value 47.8Warm Reminder
Cryptocurrencies are highly speculative and subject to significant emotional fluctuations. To invest wisely, it is crucial to establish an independent risk management system. Valuing one's own investment philosophy over blind speculation is a key quality of successful investors.
Sharing of Cryptocurrency Intelligent Quantitative Trading Assistance Tools
What is Quantitative Trading?
Quantitative trading refers to the use of advanced mathematical models to replace subjective human judgment, leveraging computer technology to sift through vast historical data to identify various "high-probability" events that can generate excess returns, thereby formulating strategies. This greatly reduces the impact of investor emotional fluctuations and avoids making irrational investment decisions in extremely bullish or bearish market conditions.
CCR Robot, which started in 2018 with cryptocurrency-to-cryptocurrency trading, has been providing strategies for over six years with technical accumulation. It adheres to a policy of providing strategies only, without profit-sharing, no patterns, no restrictions on exchanges or cryptocurrencies, and insists on being the most professional third-party technical solution provider. For CCR Robot, there is no bull or bear market in the cryptocurrency circle; there are only waves. Fearless in any market condition, it follows the trend, makes no predictions, and stability is the ultimate strength.
Leave a Comment