Daily market key data review and trend analysis, produced by PANews.

1. Market Observation

Despite the Federal Reserve's decision last week to cut interest rates by 25 basis points, the indication that it may pause rate cuts in December led to an increase in long-term Treasury yields, with the 10-year and 30-year Treasury yields rising to three-week highs of 4.1% and nearly 4.7%, respectively. More critically, the Fed announced it would end its previously planned quantitative tightening policy, which was set to last until 2026, starting December 1. This move is seen by some market participants as a form of "implicit rate cut." FHN Financial macro strategist Will Compernolle pointed out that this will guide private capital towards risk assets like stocks and enhance the Treasury's ability to bolster cash balances. Bill Adams, chief economist at Dallas Fed, also believes that the end of QT will bring more liquidity to financial markets.

However, market giants are cautious. Berkshire Hathaway, led by Warren Buffett, has seen its cash reserves soar to a record $381.7 billion and has net sold stocks for 12 consecutive quarters, reflecting that it sees far more selling opportunities than buying in the current market. Meanwhile, the U.S. government shutdown is nearing its longest historical record, with Congress planning a new round of voting on the evening of November 3 to try to break the deadlock.

The Bitcoin market has recently experienced significant volatility, with analysts showing clear divisions in their views. Analyst Ted Pillows noted that while there is buying support on Binance and Coinbase, Bitcoin needs to break through $112,000 with strong trading volume to maintain its upward momentum; otherwise, it may face a larger correction. He also warned that if the weekly close is below $100,000, it will confirm a downward trend. Analyst Rekt Capital emphasized that reclaiming the 21-week EMA around $111,230 is crucial. Murphy, based on chip structure analysis, believes there is substantial capital support in the $105,000 to $112,000 range, which should not be the cycle peak. However, bearish sentiment persists, with analyst BitBull observing that an early whale has sold $650 million worth of Bitcoin since October. CryptoQuant analyst Cas Abbe believes that historically, Bitcoin may have bottomed at the 38.2% Fibonacci level above $100,000. Trader CrypNuevo thinks the market is in a difficult consolidation phase and pointed out significant support around $101,000. Analyst EliZ noted that Bitcoin's structure remains intact above $107,000, but the declining OBV indicator shows weakness; if it falls below $107,000, it may retest the macro demand zone of $88,000 to $90,000. He believes the price needs to break through $121,000 to initiate a bull market expansion. Sigma Capital CEO Vineet Budki predicts that while Bitcoin may reach $1 million in the next decade, it could still see a drop of up to 70% in the next market correction.

The altcoin market has been active recently, with several projects experiencing significant volatility due to news stimuli. In the ZK sector, influenced by Vitalik's endorsement, ZK tokens surged threefold, and although there was a subsequent pullback, it drove up projects like STRK, SCR, and MINA within the ecosystem. Binance founder CZ revealed on social media that he has bought ASTER and is holding BNB long-term, which directly stimulated the rise in ASTER's price. The privacy coin sector remains hot, with Zcash (ZEC) nearing $450 under the influence of KOLs like Arthur Hayes, and DASH also rising close to $100. Besides the celebrity effect, weekend x402 concept tokens PING and PAYAI also experienced a surge, although they have since retraced. Notably, the related concept token KITE will launch today, currently fluctuating around $0.13 pre-market.

2. Key Data (as of November 3, 13:00 HKT)

(Data source: Coinglass, Upbit, Coingecko, SoSoValue, CoinMarketCap)

• Bitcoin: $107,419 (YTD +15.77%), daily spot trading volume $43.99 billion

• Ethereum: $3,723 (YTD +11.23%), daily spot trading volume $24.59 billion

• Fear and Greed Index: 36 (Fear)

• Average GAS: BTC: 1 sat/vB, ETH: 0.1 Gwei

• Market share: BTC 59.6%, ETH 12.5%

• Upbit 24-hour trading volume ranking: XRP, BTC, ETH, SOL, VIRTUL

• 24-hour BTC long/short ratio: 47.7%/52.3%

• Sector performance: L2 sector down 9.88%, DePIN sector down 8.78%

• 24-hour liquidation data: A total of 164,763 people were liquidated globally, with a total liquidation amount of $409 million, including $77.73 million in BTC, $89.33 million in ETH, and $37.54 million in SOL.

*Note: When the price is above the upper and lower bounds, it indicates a medium to long-term bullish trend; conversely, it indicates a bearish trend. When the price is within the range or fluctuates through the cost range in the short term, it indicates a bottoming or topping state.

3. ETF Flows (as of October 31)

• Bitcoin ETF: -$191.6 million

• Ethereum ETF: -$98.2 million

• SOL ETF: +$44.48 million

4. Today's Outlook

• Binance Alpha will launch THORWallet (TITN) on November 3

• Binance Launchpool will list Kite (KITE), with KITE spot trading starting on November 3

• Monad has opened MON token airdrop, ending on November 3

• The U.S. Second Circuit Court of Appeals plans to hold a hearing on the SBF retrial motion on November 4

• The AI trading competition Alpha Arena hosted by nof1.ai will end on November 4

• Binance Alpha will list Dino Tycoon (TYCOON) on November 4

• Memecoin (MEME) will unlock approximately 3.45 billion tokens at 3:30 PM on November 3, accounting for 5.98% of the current circulating supply, valued at approximately $5.4 million;

Today's largest declines among the top 100 cryptocurrencies by market capitalization: SPX6900 down 14.9%, Virtuals Protocol down 13.9%, ASI Alliance down 13.3%, DoubleZero down 13.2%, Pump.fun down 12.2%.

5. Hot News

• Data: ENA, MEME, BB and other tokens will see large unlocks, with ENA unlocking valued at approximately $67.1 million

• This Week's Macro Outlook: Non-Farm "Disappears," Tariff Case Under Review, Gold Enters Strong Seasonal Period

• This Week's Preview | KITE Token Will Open for Claiming and Launch on Binance; Hong Kong FinTech Week Begins

• Binance Will Delist KDAUSDT, AXSUSD, and THETAUSD Perpetual Contracts This Week

• CZ: Bought BNB in the first month of BNB TGE eight years ago and has held it ever since

• Total ZK Contract Open Interest Across the Network Exceeds 2 Billion Tokens, Valued Over $100 Million, Setting a New Historical High

• Cathie Wood's ARKK Discloses Top 15 Holdings, Including Several Crypto-Related Companies like Coinbase and Circle

• Berkshire Hathaway's Top Five Holdings in Q3: Apple, Bank of America, Coca-Cola, American Express, and Chevron

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