ChainCatcher message, Coinbase analysts David Duong and David Han stated, "Despite the lackluster price movement of Bitcoin this week, market sentiment has remained largely unchanged, as evidenced by the stable perpetual contract funding rates and open interest over the past week." Coinbase analysts pointed out that the macro factors influencing cryptocurrency performance are shifting from monetary policy to the results of the U.S. elections. Despite the recent rise in CPI and core PPI, market expectations for interest rate cuts remain broadly stable.

ChainCatcher news reports that the market suddenly dropped after the Friday employment report was released, with over $220 million in cryptocurrency long positions being liquidated. Presto Research analysts Peter Chung and Min Jung stated in today's report, "Bitcoin is severely undervalued, and recent macro factors have dominated the price discussion of BTC, while the market has overlooked one of the key fundamentals supporting Bitcoin's value—network security." "Hashrate has reached a historic high of 679 EH/s, making it the most secure network to date."They added, "If you believe this trend will continue (in fact, the emergence of spot ETFs means our environment is much better than ever), then BTC currently seems to be severely undervalued."Metalpha senior analyst Lucy Hu stated, "It seems that the lower-than-expected employment data is currently dominating market sentiment, as broad assets have declined since the data was released on Friday." "We expect the cryptocurrency market to remain highly volatile before the next Federal Reserve meeting."