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

1. Market Observation

Ahead of the release of key US CPI data tonight , market sentiment has significantly improved. Coupled with signs of easing trade tensions, the three major US stock indices have generally risen. On the macroeconomic policy front, China announced that its 15th Five-Year Plan will focus on emerging industries such as quantum technology, biomanufacturing, and hydrogen energy, and will further implement the "AI Plus" initiative , aiming to rebuild China's high-tech industry. Meanwhile, US bank reserves fell for the second consecutive week to $2.93 trillion, hitting a new low since the beginning of the year. The Federal Reserve faces a crucial decision on whether to halt its balance sheet reduction. JPMorgan Chase and Bank of America both predict that the Fed may halt its quantitative tightening policy, which has lasted for over two years, this month due to rising money market interest rates. Against this backdrop, the 10-year US Treasury yield has returned to 4%. Spot gold has hovered around $4,100 for three days after a 5% drop on October 21st. Goldman Sachs and JPMorgan Chase both expressed optimism about the outlook for gold, predicting it could reach $4,900 and $5,055 by the end of 2026, respectively.

In the gaming industry, an update released on October 23rd in the classic shooter game Counter-Strike 2 ( CS2 ) triggered significant volatility in its accessories market. The update allowed players to craft gold accessories, such as knives and gloves, by consuming five relatively common red-quality skins. Previously, these accessories were only obtainable through loot boxes with a very low probability. This change directly impacted the scarcity of high-end accessories, causing their market value to plummet. The market index plummeted from 1,660 yesterday to 510 today, a drop of nearly 70% . Popular items like the "Butterfly Knife" plummeted from approximately 21,000 yuan to around 4,100 yuan, triggering panic selling among players and investors holding high-value accessories, even temporarily paralyzing major trading platforms.

In the cryptocurrency sector, Bitcoin prices briefly rebounded to $111,000 after recent volatility, but remain consolidating between $104,000 and $112,000. Market sentiment is mixed: Galaxy Digital CEO Mike Novogratz predicts Bitcoin will likely remain between $120,000 and $125,000 by the end of the year, while Bitwise Chief Investment Officer Matt Hougan believes that gold's rally, driven by central bank purchases, offers a promising path for Bitcoin. With continued demand from ETFs and corporate investors, prices are expected to accelerate as sellers exhaust themselves. However, Standard Chartered Bank's Geoff Kendrick warns that trade war concerns could temporarily push the price below $100,000, but this would present a buying opportunity. On-chain analyst Murphy notes that a dense "defense wall" of 2.92 million BTC has formed between $104,000 and $112,000, but selling by long-term holders and weakening demand from ETFs and other sources remain in play. Technically, analyst Rekt Capital believes the price is forming an ascending triangle, requiring a breakout above $110,800. Options market data showed that the volume of open contracts hit a new high of US$63 billion, with bullish positions mainly concentrated between US$120,000 and US$140,000. However, in the short term, the market still faces the test of the expiration of US$5.1 billion in options, with the biggest pain point being US$114,000.

Meanwhile, Ethereum is exhibiting a potentially bullish structure. On-chain data shows that "whale" addresses holding 10,000 to 100,000 ETH are accelerating their accumulation, with their holdings approaching 28 million ETH, while the balances of small and medium-sized holders are declining. On technical charts, Ethereum has formed a "triple bottom" pattern around $3,750 to $3,800. If it can successfully break through the neckline resistance level of $3,950 to $4,000, it could theoretically trigger a rebound towards the target price of $4,280.

Despite analysts predicting a liquidity shift triggering an "altcoin season," various altcoin indices remain at bear market lows . A few coins, such as Solana, have outperformed the broader market, but the overall market lacks momentum for a broad-based rally. The stablecoin project Stable 's $825 million pre-deposit event today has drawn widespread community skepticism regarding insider trading, as approximately $500 million in pre-announcement deposits (60.6% of which were from a single whale or institution) were received. On-chain data indicates a connection between the funds and Bitfinex. Additionally, sources familiar with the matter reported last night that Trump announced a pardon for Binance founder Changpeng Zhao , citing sympathy for his "political persecution" and an end to the "war on crypto." This news sent BNB prices soaring, briefly exceeding $1,160, for a daily gain of nearly 6%.

2. Key Data (as of 13:00 HKT on October 24)

(Data sources: Coinglass, Upbit, Coingecko, SoSoValue, Tomars)

• Bitcoin: $111,262 (+15.51% YTD), daily spot trading volume $1.89 billion

• Ethereum: $3,974 (+15.68% YTD), with a daily spot trading volume of $1.907 billion

• Fear and Corruption Index: 32 (panic)

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

• Market share: BTC 59.1%, ETH 12.8%

• Upbit 24-hour trading volume rankings: ORDER, ETH, BTC, XRP, F

• 24-hour BTC long-short ratio: 48.59%/51.41%

• Sector gains and losses: AI sector rose 17.85%, NFT sector rose 5.4%

• 24-hour liquidation data: A total of 114,974 people were liquidated worldwide, with a total liquidation amount of US$247 million, including US$66.61 million in BTC, US$70.44 million in ETH, and US$5.42 million in BNB.

• BTC medium- and long-term trend channel: upper channel line ($111,805.35), lower channel line ($109,591.38)

• ETH medium- and long-term trend channel: upper line of the channel ($4003.39), lower line ($3924.11)

*Note: When the price is higher than the upper and lower edges, it is a medium- to long-term bullish trend; otherwise, it is a bearish trend. When the price is within the range or repeatedly passes through the cost range in the short term, it is in a bottoming or topping state.

3. ETF flows (as of October 23)

• Bitcoin ETF: +$20.33 million

• Ethereum ETF: -$128 million, with no net inflow across all nine ETFs

4. Today's Outlook

• Binance to Support Shentu (CTK) Network Upgrade and Hard Fork on October 24

• Binance Alpha will list APRO (AT) on October 24th . Binance Alpha and Futures will list Orochi (ON)

• Binance will remove A/FDUSD, AXS/BNB, GALA/BTC, and PNUT/BRL spot trading on October 24th

• Coinbase will suspend services on October 25th for a technical system upgrade, which is expected to take 4 hours.

• The U.S. Bureau of Labor Statistics will release the September CPI report : expected value is 3.1%, the previous value is 2.9% (October 24, 20:30)

• Plasma (XPL) will unlock approximately 88.89 million tokens at 8:00 PM on October 25th, representing 4.97% of the current circulating supply and valued at approximately $36.9 million.

• Humanity (H) will unlock approximately 62.5 million tokens at 8:00 AM on October 25th, representing 3.01% of the current circulating supply and valued at approximately $7.3 million.

• Venom (VENOM) will unlock approximately 59.26 million tokens at 4:00 PM on October 25th, accounting for 2.23% of the current circulating supply and worth approximately $6.2 million.

The biggest gains among the top 100 cryptocurrencies by market capitalization today: ChainOpera AI up 77.2%, Aster up 13.9%, World Liberty Financial up 13.4%, ASI Alliance up 12.3%, and Pump.fun up 11.1%.

5. Hot News

• BlackRock's BUIDL deploys $500 million to Polygon

• Only 274 addresses successfully participated in the Stable pre-deposit of $825 million

• Solmate shares surge 50% as it plans to build the first Solana validation node center in the Middle East and launch an aggressive M&A strategy.

• Clanker joins Farcaster ecosystem, launching $CLANKER buyback and deflation mechanism

• Coinbase Lists aPriori (APR) and Meteora (MET)

• Spark transfers $100 million in stablecoin reserves to Superstate crypto arbitrage fund

• A single entity is suspected of claiming $10 million worth of MET airdrops

• Three addresses associated with Trump's team received $4.2 million worth of MET airdrops

• Wall Street Journal: US President Trump pardoned convicted Binance founder

• BNB continued to rise and broke through $1,122, up 3.81% on the day

• Arthur Hayes withdraws 2.16 million WILD tokens from Kucoin and Gate, worth $463,000

• The MANTRA community proposed changing the token abbreviation from OM to MANTRA and implementing a 1:4 token split.

• MegaETH: The total amount of tokens retained in the ecosystem accounts for 70.3% of the total supply, of which the team and advisors account for 9.5%

• Hyperliquid Strategies Files S-1, Intending to Raise Up to $1 Billion, Possibly for Purchasing HYPE Tokens