Exchange inventory at record low as supply weakens again Physical 1K-10K addresses are starting to accumulate again after the distribution, physical 10K-100K addresses continue to accumulate and large accounts are in high demand Miners continue to accumulate The total volume of the contract market has rebounded to over $12 billion again, which may be a short-term negative for the coin price The chain data is stable, the big investors are absorbing stable chips, the market supply is low, the miners are accumulating steadily, the liquidity supply is low, the overall bullish Morphology, first of all, 4 Hour, signs of weakness, began to weaken, the market is likely to go at least 4hour level adjustment, strong words may be in the 55400 near the stage bottom, weakness to 53500 near to find support. The daily level choose to break through, but the demand failed to last, today's adjustment up to now the volume is not large, belongs to the normal breakthrough after the back pedal, at present still see the uptrend unchanged. Overall the large level intact, BTC lack of a full adjustment, so yesterday so directly step on the 5 day line after pulling up can not continue to rise, the market wants on or to adjust the storage, patience some. The day steady more than 55500 near, aggressive empty 57600 near

Bitcoin a single, all the money piled up inside the pie, at the same time we obviously see that the supply of bitcoin is still very small, has refused to pull back, which exceeded the previous expectations of the market judgment, this kind of over-expectation, often indicates that will continue to strengthen, at this time the 5 day line will become a better choice, as long as the daily daily closing does not fall below the 5 day line, we have to continue to be bullish, perhaps to continue to be bullish, perhaps before the end of this month, we can again see more than 60,000 bitcoin, more patience, give the market some time, the fourth quarter often have a surprise. The founder of Real Vision said his portfolio consists of 70% ETH and 5% BTC, and another 25% is other. His logic is that ETH will have more incremental volume and is still in the early stages of adoption, while believing that it is important to take some risks as much as possible during the bull market. This configuration is very worthy of your reference, not that it's not bullish on Bitcoin, just more bullish on the ETH/BTC exchange rate. In rising markets, coins with small market caps tend to rise faster than those with large market caps, and conversely, fall quickly. Switzerland plans to launch a new proposal to authorize central banks to hold gold and bitcoin as part of their currency reserves. Bitcoin is not only used as legal tender by some countries, but more countries will…

Figure 1 10k-100k national day increased 25w bitcoin, large investors crazy absorption Figure 2 Short-term holders have raised their heads, coin price rise is expected to continue. Figure three Figure four liquidity supply decreased, the exchange coin volume continues to be low, the market supply is not large. Morphology, yesterday's analysis to 2-3 days of sideways time, today still maintain the view of the oscillating market, the daily needs to wait for the MA5 to come up to step on, or even to go to insert the MA10, after all, is through the sharp pull up, there must be profit-taking discs appear, after absorbing these floating supply, before continuing upward. The big level is fine, after the breakthrough did not trigger a large-scale supply appeared, is a valid breakthrough. Intraday empty point 55000, more points on the 53000 near, depending on the small level trend to find more single advantage intervention position. In addition, the chain earnings entity hit a new 5-month high, the position will be a certain change of hands; 1k-10k coin holdings have not changed much, sustained selling pressure has not appeared. Conclusion: The coin price in this position, no matter horizontal or retracement, is to lay the foundation for the rise

SEC Chairman Gary Gensler has once again stated his support for ETFs based on bitcoin futures, which would invest in bitcoin futures contracts rather than bitcoin itself, after having said the same thing in August. Looking at this statement from him, it feels like it will be difficult to get a bitcoin ETF approved on November 14, instead, some ETFs applying for bitcoin futures are likely to be the first to be approved, which can't be good news because these futures contracts are not on a large pie standard, but on a dollar standard, which means that regulators only need to hold dollars to manipulate bitcoin prices through futures without actually holding bitcoin, such an ETF through does not help the bitcoin price much, which is also a means for the US SEC to suppress bitcoin from the side, and the bitcoin ETF we are looking forward to, seems to be difficult to achieve this year. The South Korean Financial Services Commission has said that cryptocurrency service providers are prohibited from trading tokens they issue themselves. A brighter future is that compliant exchanges will only be able to trade those compliant cryptocurrencies in the future, meaning the days of junk coins running rampant are gone and there will be a merging of funds back to the value coin circuit across the board in the future, a boost to the market itself. Billionaire Orlando Bravo says he holds bitcoin and believes in the ability to measure the rise in value in the unm years. Another billionaire surfaced, these people won't just…

The data on the chain has not changed much, the market trend is healthy and still in the oscillation range. The wave of retreat in China is still going on, even Imtoken has started to retreat Chinese users, I believe this wave will continue, there will be no more China in the cryptocurrency circle map, Chinese cryptocurrency circle bigwigs have retired, the cryptocurrency circle in China has become the secret game of very few people.

Figure 1: Short-term holders have fallen to historic lows, meaning that selling pressure is hard to continue. Once the number of short-term holders rebounds in the future, it will bring the market up. Figure 2: Long-term holders continue to grow, which is the basis for the rise of the coin price. Figure 3: The exchange balance continues to below, the market supply is low and it is hard to have a big fall. Figure 4: Liquidity supply continues to decrease, no basis for a crash. Overall still healthy, no big up or big down logic, continue to shake mainly.