ChainCatcher news, QCP Capital has released its latest market analysis report. The report indicates that Bitcoin is currently oscillating in the range of $62,000 to $64,000, while Ethereum's trading price is close to the low of $2,600. Micron Technology (MU) shares surged 16% due to an upward revision of its fourth-quarter revenue expectations, and the market anticipates that chip companies like Nvidia (NVDA) may follow suit, which could serve as a catalyst for Bitcoin to break through $64,000.Today's key macro events include U.S. GDP data and a speech by Federal Reserve Chairman Jerome Powell. The market will closely monitor Powell's speech for any changes in policy stance following last week's FOMC press conference. U.S. presidential candidate Kamala Harris has reiterated her support for cryptocurrencies, promising to position the U.S. as a leading force in "AI, quantum computing, and blockchain."QCP Capital believes that as global central banks begin to ease monetary policy, the expected increase in liquidity may drive cryptocurrency prices higher. The company suggests that investors consider going long on long-term options structures with unlimited upside potential to capture potential parabolic price increases.

ChainCatcher news, according to The Block, as the fourth quarter of 2024 approaches, some analysts predict that Bitcoin and the broader cryptocurrency market will continue to rise, primarily driven by institutional adoption and macroeconomic factors.Gabriel Selby, Chief Research Analyst at CF Benchmarks, stated in the report: "Against the backdrop of macro changes and institutional adoption, digital assets are expected to continue growing in the fourth quarter as sovereign balance sheets come under pressure, and investors will seek long-term hedging tools like Bitcoin."Selby noted that after the presidential election on November 5, there could be significant changes in the U.S. regulatory landscape, creating a favorable environment for cryptocurrency innovation. "We are seeing conditions that enhance investor confidence and drive capital formation."Ryan Lee, Chief Analyst at Bitget Research, is also bullish on Bitcoin's performance in the last quarter. He stated: "Bitcoin is expected to perform better in October than in September, with a target price range of $58,000 to $72,000."Lee pointed out several compelling signs in the derivatives market, including multiple instances of negative funding rates in Bitcoin futures in September, and the fear and greed index still hovering in the "extreme fear" zone. "Historically, these factors often herald the arrival of a significant rebound."

ChainCatcher news, according to The Block, FalconX research director David Lawant stated that the correlation between cryptocurrency prices and broader risk asset indices has been rising and may remain high for some time. The current lower interest rate cycle combined with a soft landing is the baseline for most investors and will create a new macro environment for cryptocurrencies. Favorable election outcomes and a liquidity environment more conducive to risk assets may trigger the next cryptocurrency bull market.

ChainCatcher news, according to CoinDesk, 10x Research founder Markus Thielen pointed out that the rebound in cryptocurrency prices is supported by the strong expansion of stablecoins, with the minting volume of stablecoins reaching $1 billion on a 7-day average.In addition, LMAX Group market strategist Joel Kruger stated in an analysis report released this Monday: "Technically, the market is increasingly resembling a bullish consolidation before the next significant surge. This would mean that Bitcoin will set a new high, and ETH may also break its annual high and challenge the historical high set in 2021."

ChainCatcher message, CryptoQuant posted on social media, "The total market capitalization of stablecoins has reached a historic high of $165 billion. This increase typically signals a rise in the prices of Bitcoin and cryptocurrencies."

ChainCatcher news, recently, researchers from Uniswap Labs, Copenhagen Business School, and Circle published a paper titled "Research on the Driving Factors of Cryptocurrency Prices." The article uses a structural vector autoregression model to study the factors influencing cryptocurrency returns.The model identifies the impact of monetary policy and risk sentiment on cryptocurrency prices by using the co-movement of asset prices in conventional markets. Specifically, the researchers decompose daily Bitcoin returns into three factors reflecting conventional risk premium, monetary policy, and cryptocurrency-specific shocks. By utilizing the co-movement of Bitcoin and stablecoin market capitalizations, the specific shocks to cryptocurrencies are further decomposed into changes in crypto risk premium and levels of cryptocurrency adoption.The analysis shows that cryptocurrency prices are significantly influenced by conventional risk and monetary policy factors. Notably, during the downturn of the cryptocurrency market in 2022, the factors related to tightening monetary policy accounted for more than two-thirds of the impact. In contrast, since 2023, the compression of crypto risk premium has been the main driver of cryptocurrency returns, independent of the active stock market backdrop.

ChainCatcher news, Binance CEO Richard Teng emphasized the strong interest in Bitcoin and other cryptocurrencies, noting that Bitcoin exchange-traded funds (ETFs) listed in the U.S. over the past six months have attracted over $14.7 billion in net inflows. Teng highlighted the strong long-term fundamentals of the industry and urged the community to stay focused and continue building despite market volatility.

ChainCatcher message, 10x Research published that one of the most important rules in the cryptocurrency space is that announcing new information takes precedence over everything else. When new catalysts are introduced, Bitcoin and other crypto assets experience significant volatility (mostly upward), but once the news becomes reality, a sell-off occurs. The key is to understand the importance of the news and react quickly. Traders should (at least) maintain a bullish position until the news becomes a fact.

ChainCatcher message, Matrixport posted on social media that Tether's minting activity shows an increase in the flow of fiat to cryptocurrency, which continues to support cryptocurrency prices. In the past 7 days, Tether's circulation increased by $2 billion, with the issuance rate even faster than at the beginning of January.In addition, Matrixport stated that it had previously criticized Ethereum's upgrade policy when analyzing the impact of each upgrade on ETH prices. With the completion of the Dencun upgrade, Ethereum's market share dropped from 19% to 16%. The institution suggests using an ETH short strategy as a hedge against a BTC long strategy.

ChainCatcher news, according to a report by Reuters, Goldman Sachs' head of digital assets Mathew McDermott stated that the recent rapid rise in cryptocurrency prices has been driven by retail investors, but institutions are also starting to join in, indicating a shift in market demand, with changes not only in the types of clients but also in their numbers.Although analysts point out that billions of dollars have flowed into the U.S. Bitcoin spot ETFs launched this year, no one knows for sure what has driven the latest surge in Bitcoin. McDermott stated that it is the ETFs that have triggered a "psychological shift."

ChainCatcher news, Meitu announced that it expects to turn a profit in the first half of the year, with a net profit between 220 million and 265 million yuan. The main reason for the expected turnaround is attributed to the market price of purchased cryptocurrencies being higher than the market price on December 31, 2022, resulting in a reversal of impairment losses on purchased cryptocurrencies of approximately 185 million yuan. Since the cryptocurrency purchases in March and April 2021, the group has not bought or sold any cryptocurrencies under its cryptocurrency investment plan.

ChainCatcher news, according to Lookonchain monitoring, the total assets of Binance have not significantly decreased based on the public address. In the past week, Binance's total assets decreased by about 13%, mainly due to the decline in cryptocurrency prices. Most assets have dropped between 6% to 38% over the past 7 days.Additionally, the "0x66b8" fund has been depositing and withdrawing stablecoins from Binance for the past 14 hours, seemingly engaging in some form of arbitrage activity, with a total transaction of 113 million USD in stablecoins. (source link)

ChainCatcher news, Grayscale's latest research report indicates that the Federal Open Market Committee did not hold a meeting in April and will meet again on May 3 to determine whether to implement a 25 basis point rate hike, with the market currently assigning an 80% probability to this outcome. While rate hikes have historically been detrimental to the prices of risk assets, if the Federal Open Market Committee's decision aligns with market expectations, cryptocurrency prices may benefit.Grayscale also stated that while the exact impact of future developments on Bitcoin prices remains uncertain, factors such as additional rate hikes and a decline in inflation rate (from 6% in February to 5% in March) are very much in line with a bullish outlook for Bitcoin in the future.Moreover, the failures of First Republic (FRC), Silicon Valley Bank (SVB), Silvergate Bank (SI), and Signature Bank (SBNY) indicate that investors continue to show interest in cryptocurrencies during periods of economic uncertainty. (Source link)

According to Chain Catcher news and Bloomberg, FTX founder Sam Bankman-Fried (SBF) stated at the SALT conference in New York that monetary policy and inflation are the main drivers behind the decline in cryptocurrency prices this year, with "the rise of the dollar this year" and "policy changes" having a significant impact.In addition, SBF expressed optimism about cryptocurrencies despite the price drop, as "more clear regulatory guidelines are coming soon," which will help "unlock the asset class" for many institutions looking to enter the industry. (Bloomberg)