ChainCatcher news, Matrixport released today's chart stating that by mid-December 2024, the inflow of Bitcoin ETF funds and the open interest of Bitcoin futures contracts will both reach approximately $35 billion. After that, futures positions significantly declined, while the inflow of Bitcoin ETF funds remained relatively stable.This indicates that short-term traders are exiting, possibly selling their positions to long-term investors. Currently, both the funding rate and market trading volume are low, and unless new macro catalysts emerge, the likelihood of significant growth in Bitcoin ETF funds is relatively small.

ChainCatcher news, according to The Block, Standard Chartered's Head of Digital Assets Research Geoff Kendrick stated that the recent decline in Bitcoin's price is primarily influenced by the pressure from broader risk assets, rather than issues within the cryptocurrency itself. "From a volatility-adjusted basis, Bitcoin's performance is highly correlated with the 'seven tech stocks plus Bitcoin' portfolio," Kendrick noted in an email on Tuesday, "Tesla performed the worst, while Meta and Apple performed the best, with the rest being similar to Bitcoin."Kendrick believes that Bitcoin's rebound will depend on two main catalysts: a recovery in risk assets overall or Bitcoin-specific positive news (such as sovereign purchases). He pointed out that clearer tariff policies or a rapid rate cut by the Federal Reserve would help boost the market, "the probability of a rate cut in the May meeting rising from the current 50% to 75% could trigger a rebound." Although Bitcoin may quickly test the $69,000 support level if it falls below $76,500 in the short term, he still maintains a target forecast of $200,000 by the end of 2025.Next week's Federal Reserve interest rate decision will be a significant test for Bitcoin. Rohit Jain, Managing Director of CoinDCX Ventures, stated that if the Federal Reserve maintains the current interest rates as expected, it could lead to Bitcoin testing the $70,000 support level.

ChainCatcher news, Matrixport's latest report analysis believes that the White House crypto summit and the confirmation of the U.S. strategic Bitcoin reserves failed to ignite market sentiment, and the crypto market did not show a significant increase, with perpetual contract funding rates still hovering at single-digit levels.This indicates that retail investors' enthusiasm remains low, in stark contrast to April and December 2024, when funding rates soared to double-digit highs.Even the market momentum brought by Trump's official inauguration is relatively subdued, clearly indicating that Bitcoin needs more influential catalysts to usher in a new round of increases.

ChainCatcher news, crypto analyst Miles Deutscher pointed out that since the election frenzy, the inflow of funds into Bitcoin and Ethereum ETFs has noticeably slowed down. As the market is forward-looking, most ETF buyers have already positioned themselves for the potential benefits that a Trump presidency could bring. With this demand being pre-absorbed, the market is now waiting for the next catalyst that could drive prices up.

ChainCatcher news, Three Arrows Capital founder ZhuSu posted on social media, "The current market cycle has significant differences from 2020-2021: the Bitcoin funds flowing into ETFs and investment tools like MicroStrategy will not rotate into Ethereum, let alone other tokens. Unlike the previous market environment where Bitcoin, Ethereum, Solana, and other coins frequently rotated, other coins currently need substantial catalysts to drive movement.Without major events like Michael Saylor switching to other coins, simply claiming superiority over Bitcoin is no longer enough to attract Bitcoin holders to shift their investments. Existing holders must have faith in the project, and the underlying protocol must be able to perform its intended function."

ChainCatcher news, QCP Capital's latest analysis points out that Bitcoin recently faced $1.5 billion in long liquidations, with the price plummeting by 3,000 points before rebounding at the critical support level of $95,000, currently consolidating in the $97,000-$98,000 range. This round of correction has also affected many altcoins.In terms of institutional entry, Bitcoin and Ethereum spot ETFs recorded net inflows for 8 and 11 consecutive days, respectively. Mining company Riot Platforms announced it would follow MicroStrategy's strategy, planning to issue $500 million in zero-coupon convertible bonds to purchase Bitcoin, a plan that has already garnered strong market demand. Notably, Microsoft shareholders will vote today on incorporating Bitcoin into the balance sheet. Although the board recommends against it, approval could lead to an unexpected surge. Meanwhile, reports indicate that Amazon shareholders are also pushing for Bitcoin to be used as a reserve asset.QCP points out that with the political situation stabilizing in France and South Korea, and China's commitment to launching economic stimulus policies, macro market volatility has eased. Bitcoin and Ethereum's short-term volatility remains high and leans towards put options. Analysts believe that a breakthrough of the $100,000 threshold for Bitcoin still requires key catalysts.

ChainCatcher news, according to The Block, JPMorgan analysts have pointed out several key factors that may affect the cryptocurrency market in the coming months, mentioning technologies, geopolitical issues, and structural events that could drive price volatility. In a research report released on Monday, analysts discussed the seasonal "Uptober" trend, the Federal Reserve's interest rate cuts, the approval of Bitcoin ETF options, and the upcoming Ethereum upgrade known as Pectra.One key conclusion of the report is that October has historically shown strong performance, often referred to as "Uptober," with over 70% of Octobers yielding positive returns for Bitcoin. The analysts wrote, "Although past performance is not indicative of future results, we believe the popularity of 'Uptober' could influence behavior and lead to positive Bitcoin performance this October." Despite the recent interest rate cuts by the Federal Reserve, the analysts noted that the broader cryptocurrency market has yet to see the anticipated positive effects; while a rate-cutting environment typically supports risk assets, the correlation between total cryptocurrency market capitalization and the federal funds rate remains weak at 0.46. Since the Fed's rate cut on September 18, we have not seen a significant rise in cryptocurrency prices due to the cuts, and the market may be waiting for more sustained stability before making a decisive shift.Additionally, the analysts acknowledged that it is difficult to accurately predict how cryptocurrencies will respond to interest rate cycles due to a lack of historical data. Another potential catalyst is the recently approved spot Bitcoin ETF options trading. The analysts expect this could deepen market liquidity and attract new participants. This development could initiate a positive feedback loop, enhancing market structure and making digital assets more accessible to institutional investors. The upcoming Ethereum upgrade, referred to as "Pectra," is also seen as a significant development.The analysts stated, "While Pectra is expected to have a transformative impact on Ethereum's functionality, we believe this upgrade is more structural than a direct price catalyst. The long-term impact of Pectra will be to improve Ethereum's operational efficiency and adoption rates, but it is unlikely to trigger a short-term surge in Ether prices."The analysts concluded that the cryptocurrency market is currently in a wait-and-see mode, looking for clearer macroeconomic or structural catalysts to drive sustained growth. They stated, "We continue to see the crypto ecosystem becoming increasingly sensitive to macro factors, so we are waiting for the next major catalyst to drive the ecosystem's development and enhance retail participation for long-term growth."

ChainCatcher news, according to CoinDesk, NYDIG pointed out that there are fewer "catalysts" driving the recent rise in Bitcoin. September is typically a month of weak performance for Bitcoin prices, but on the bright side, October is usually one of the strongest months for Bitcoin prices.Market data shows that Bitcoin is currently fluctuating around $57,000, having risen over 3% in the past 24 hours.

ChainCatcher message, Matrixport released a chart today stating that the Bitcoin Greed and Fear Index has once again reached "extreme fear" levels. We developed this index to provide a more strategic and timely sentiment reference than the widely cited "Fear and Greed Index."Historical data shows that Bitcoin typically rebounds in such situations. Key catalysts for this week include the presidential debate between Harris and Trump on Tuesday, and the U.S. CPI report on Wednesday.

ChainCatcher news, JPMorgan (JPM) noted in a research report on Friday that as of the end of last month, the total market capitalization of the cryptocurrency market was $2.02 trillion, a 24% decline from the peak in March, and stated that it is waiting for the next development catalyst and "increased retail participation."Analysts led by Kenneth Worthington wrote, "Overall, we continue to see a lack of significant catalysts in the crypto ecosystem, so we expect cryptocurrency tokens and asset prices to be more sensitive to macro factors."

ChainCatcher news, QCP Capital's latest report points out that despite increased volatility in Bitcoin during Trump's speech, the market did not experience the dramatic fluctuations that options traders expected. Bitcoin remains in the range of $67,000 to $70,000, with volatility significantly decreasing. The market may need a more significant catalyst to achieve a major breakthrough, which could occur as the U.S. elections approach. Given that Bitcoin has failed to break through its all-time high, despite Trump's optimistic remarks, it is expected that Bitcoin will continue to trade within this range.