The homework for Sunday will be a bit simpler. Originally, today's price movement was almost stagnant, with no activity throughout the day. However, starting from 21:00 Beijing time, there was a gradual upward trend. I checked at that time and didn't see anything noteworthy happening. I wonder if Cook's holdings in $BTC and $ETH have sparked some interest. I did notice that many friends in the Chinese community viewed Cook's cryptocurrency holdings from 2021 as a recent interview.

Of course, in my personal understanding, there is still a probability that Cook continues to hold, at least Bitcoin. However, if this is considered a short-term positive, it might not be the case. Starting tomorrow, the challenges of October will begin. There are a few troubles in October: one is the theory that Token2049 always drops during the event, another is the U.S. labor data starting mid-week, and there are also a bunch of Federal Reserve officials who will start speaking.

Some friends asked if the upcoming short holiday in China next week would affect the market. My personal view is quite simple: the liquidity in the Asian time zone is inherently low. Even South Korea and Japan haven't contributed much trading volume for Bitcoin in the Asian time zone. The domestic holiday in China may indeed lead some market makers to enter a holiday state, but the impact on liquidity should be quite limited.

Looking back at Bitcoin's data, the turnover rate continues to decline, but it still differs from the data I mentioned about going below 50,000. It is above 50,000, indicating that the sentiment of ordinary investors has not completely calmed down. Let's first take a look at the U.S. stock futures data on Monday morning.

I think everything else is fine. The URPD data still shows that long-term investors are not exhibiting obvious panic. The price sorting is still very healthy, and even those investors who are currently at a loss have a strong willingness to hold, with no signs of large-scale selling. Therefore, I think the current market is relatively stable; we just need to see if there will be any new negative news.

This article is sponsored by #Bitget ｜ @Bitget_zh

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