CoinShares: Bitcoin Shows Resilience, but US Inflation Pressure Still Limits Market Upward Space BlockBeats News: On October 23rd, CoinShares released a report stating that Bitcoin has performed relatively well this week against the backdrop of renewed volatility in the risk asset market, mainly due to the recovery of spot buying, improved stock market sentiment, and partial short covering. Overall, the market is gradually reducing its pursuit of AI concept narratives and focusing more on whether corporate profits can meet expectations. The poor performance of some US companies' financial reports has led to drastic fluctuations in stock prices, and Bitcoin has also been affected to some extent, but overall it still shows strong resilience. At the same time, macroeconomic signals in the United States remain divided, and the housing market continues to weaken. In terms of interest rates, the market generally expects the Federal Reserve to maintain interest rates unchanged at its meeting on October 28th. The market still has high expectations for the Federal Reserve to raise interest rates again in December, with a probability of nearly 83%. The sluggish housing market has provided some room for the Federal Reserve to temporarily postpone interest rate hikes, but last week's higher than expected consumer price index (CPI) and producer price index (PPI) data means that inflation remains a key factor limiting policy shifts. If the Federal Reserve unexpectedly raises interest rates next week, it may trigger more significant financial market volatility due to exceeding market expectations; In contrast, keeping interest rates unchanged and continuing to release hawkish signals is more easily digested by the market. Overall, the current market is still in a state of mixed long and short factors. The improvement in spot demand, the increased tolerance of Bitcoin to stock market fluctuations, and the cooling of the housing market have all provided certain support for the market; However, inflationary pressures have not yet subsided, limiting the space for the Federal Reserve to relax its policies. The subsequent trend of Bitcoin is expected to be highly influenced by interest rate expectations and the overall liquidity environment, and the importance of single industry or market catalytic factors is relatively limited. [Original link]