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

1. Market Observation

Trump made a series of optimistic statements ahead of the interest rate decision tomorrow at 2 AM, including an expected GDP growth of 4% next quarter and a commitment not to allow the Federal Reserve to raise interest rates, aiming to attract $21 to $22 trillion in investments into the U.S. economy during his second term. The market is holding its breath for this week's Federal Reserve interest rate decision, which is widely expected to result in a rate cut. However, strategists at JPMorgan pointed out that even if quantitative tightening ends, the Federal Reserve will still need to take additional measures to alleviate ongoing pressures in the financing market.

As the spot gold price fell below $4,000, Citibank subsequently lowered its short-term target price to $3,800, viewing $3,600 as a key support level, mainly due to a cooling of geopolitical risk expectations and potential selling pressure from significant market profits. Despite a bearish outlook in the short term, analysts generally believe that as the global trust system collapses and sovereign risks rise, gold's value as a long-term strategic hedge remains solid. The Federal Reserve's policy direction and the performance of the U.S. economy will be crucial for a rebound in gold prices.

In terms of Bitcoin, the market is showing signs of consolidation and correction ahead of the key FOMC meeting. Analyst Michaël van de Poppe believes this is a standard technical pullback and emphasizes the importance of Bitcoin holding the key level of $112,000. He expects that after this, the next round of increases will begin, targeting $150,000. Justin Bennett also expressed a similar view, predicting that Bitcoin could challenge $120,000 in early November after a pullback to the $112,000 area, provided the price can hold above $111,000 after the Federal Reserve's decision. However, there is downward pressure in the short term, with analyst Man of Bitcoin noting that Bitcoin has fallen below its upward trend line and is testing support at $111,242. If decisively broken, it may further drop to the range of $108,638 to $110,251, while the price is filling the CME futures gap between $111,150 and $113,480. Cheds Trading also observed that the price is retreating towards the logical support level of $110,000 after an initial resistance. Ash Crypto believes that the current Bitcoin price is severely suppressed by market manipulation, but with liquidity injection, a large-scale breakout is imminent, with a target price of $150,000 to $180,000 from November to December. Overall, Bitcoin needs to hold the support at $114,000, along with a rebound in spot trading volume, to confirm the potential for a breakout above $115,000 and sustain recovery. Looking ahead, analysts Michaël van de Poppe and Ash Crypto are optimistic, believing that with rate cuts, the end of QT, and capital rotation from assets like gold, the crypto market will see a large-scale breakout, likely achieving strong growth by the end of the year.

The Ethereum market is also facing volatility, briefly falling below $3,900 this morning. Analyst Man of Bitcoin provided two possibilities: if the price remains below $4,053, downward pressure will continue, potentially forming a corrective B wave; but if it can hold above the support of $4,057, there is still a chance to create a new high in the third wave. Similar to Bitcoin, Ash Crypto is also very optimistic about Ethereum's future, predicting that the price could reach $7,500 to $12,000 between November and January next year.

The Solana ecosystem is gaining attention due to the listing of the first spot ETF (BSOL) in the U.S., with JPMorgan predicting it could attract $3 to $6 billion in capital inflow in its first year. Technical analysis shows a bullish flag pattern on the SOL weekly chart, with a target price of $412 upon breakout, while analyst BitBull believes the target for this cycle is between $400 and $500. In the short term, analyst Man of Bitcoin pointed out that its pullback support is between $190 and $182, while on-chain data from Ali shows that a large amount of SOL has accumulated around $189, forming a major support area. Meanwhile, the previously popular x402 concept has cooled down, with the market caps of related tokens PING and PAYAI briefly dropping below $20 million and $40 million, respectively. However, in the Web2 AI and payment sector, PayPal announced it will integrate ChatGPT to support AI in-app shopping payments, driving its stock price up by 3.94%. Additionally, the Trump Media Group announced it will launch a prediction market feature on its social platform Truth Social through a partnership with Crypto.com, causing the related prediction market project Limitless to surge by 40% at one point, now narrowed to 20%. Notably, the stablecoin project Stable, accused of having a "mouse warehouse" during the $825 million pre-deposit event on October 24, also announced that its second phase of pre-deposit activities will start next week.

2. Key Data (as of October 29, 13:00 HKT)

(Data source: Coinglass, Upbit, Coingecko, SoSoValue, Tomars, CoinMarketCap, GMGN)

• Bitcoin: $112,989 (YTD +20.71%), daily spot trading volume $65.45 billion

• Ethereum: $4,025 (YTD +20.53%), daily spot trading volume $33.06 billion

• Fear and Greed Index: 39 (Fear)

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

• Market share: BTC 59.2%, ETH 12.8%

• Upbit 24-hour trading volume ranking: XRP, ETH, BTC, VIRTUAL, KERNEL

• 24-hour BTC long-short ratio: 49.7%/50.3%

• Sector performance: L2 sector down 3.2%, DePIN sector down 2.8%

• 24-hour liquidation data: A total of 137,571 people were liquidated globally, with a total liquidation amount of $512 million, including $112 million in BTC, $156 million in ETH, and $58.26 million in SOL.

• BTC medium to long-term trend channel: upper line ($113,145.14), lower line ($110,904.64)

• ETH medium to long-term trend channel: upper line ($4,047.69), lower line ($3,967.54)

*Note: When the price is above the upper and lower lines, it indicates a medium to long-term bullish trend; conversely, it indicates a bearish trend. When the price is within the range or fluctuates through the cost range in the short term, it indicates a bottoming or topping state.

3. ETF Flows (as of October 28)

• Bitcoin ETF: +$202 million, continuing 4 days of net inflow

• Ethereum ETF: +$246 million, with Fidelity's FETH leading net inflow at $99.271 million

4. Today's Outlook

• Binance Alpha will launch BitcoinOS (BOS) on October 29

• Coinbase will delist MASK-USDT, MINA-USDT, and 6 other trading pairs on October 30

• Coinbase will release its third-quarter financial results after the market closes on October 30

• Strategy will announce its Q3 2025 financial results on October 30 local time

• MtGox's originally scheduled repayment deadline of October 31 has been extended to 2026

• The U.S. Federal Reserve interest rate decision (upper limit) as of October 29: previous value 4.25%, expected value 4.00% (October 30, 02:00)

• Federal Reserve Chairman Powell will hold a monetary policy press conference. (October 30, 02:30)

• Zora (ZORA) will unlock approximately 167 million tokens at 8 AM on October 30, accounting for 4.55% of the current circulation, valued at approximately $15.9 million;

• Kamino (KMNO) will unlock approximately 229 million tokens at 8 PM on October 30, accounting for 5.99% of the current circulation, valued at approximately $14.2 million

• Optimism (OP) will unlock approximately 31.34 million tokens at 8 AM on October 31, accounting for 1.71% of the current circulation, valued at approximately $14.2 million;

• Immutable (IMX) will unlock approximately 24.52 million tokens at 8 AM on October 31, accounting for 1.24% of the current circulation, valued at approximately $13.3 million;

The largest gainers among the top 100 cryptocurrencies today: Pi Network up 15.6%, Official Trump up 12.2%, Aerodrome Finance up 11.4%, Bittensor up 5.3%, MemeCore up 4.8%.

5. Hot News

• Binance will delist FLM, KDA, PERP

• The first Solana spot ETF in the U.S. saw a net inflow of $69.45 million on its first day, with net assets reaching $289 million

• Ripple-supported Evernorth has accumulated nearly 389 million XRP, valued at over $1 billion

• The AI trading competition Alpha Arena hosted by nof1.ai will end on November 4

• The L1 fee landscape has changed: Hyperliquid and BNB Chain's shares have risen to 40% and 20%, while Solana has dropped to only 9%

• Early Bitcoin investor Owen Gunden deposited 1,447.56 BTC into Kraken, valued at $163 million

• Western Union plans to launch a stablecoin USDPT built on the Solana blockchain in 2026

• Bloomberg: Prediction market Polymarket plans to return to the U.S. market by the end of November

• Animoca Brands announces a heavy investment in AERO and locks it as veAERO

• MetaMask's points program officially launched, distributing over $30 million in LINEA rewards in the first season

• OceanPal establishes SovereignAI with $120 million, partnering with NEAR to advance AI and crypto infrastructure

• French lawmakers suggest the country purchase 420,000 BTC over the next 7 to 8 years

• SharpLink plans to deploy $200 million in ETH on the Linea network

• Japanese payment giant TIS partners with Avalanche to launch a multi-token payment platform, initially supporting AVAX

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