Overview

After six months of consolidation, Bitcoin’s price is approaching its all-time high without major resistance. Circle has announced a fee increase for redeeming USDC instantly. For daily redemptions exceeding $2 million, additional fees will apply, starting at 0.03% per transaction and gradually increasing to 0.1% for redemptions over $15 million. Some users have expressed concerns that higher fees may reduce USDC’s appeal in transactions.

Daily Macro

Bitcoin Market: Bitcoin surged to $72,600, nearing its all-time high. Meanwhile, gains in the altcoin market are modest, and Bitcoin dominance has increased further, surpassing 60%.

Bitcoin ETF: Preliminary reports on October 30 indicate a net inflow of $867.97million last day.

Ethereum ETF: Preliminary reports as of October 30 show a net inflow of $7.57million last day.

Macroeconomic Data: U.S. Treasury Secretary Janet Yellen is scheduled to speak tonight, followed by a monetary policy press conference tomorrow by Bank of Japan Governor Kazuo Ueda. Their statements may impact the yen-dollar exchange rate.

Daily Focus

LUCE

Reason for Focus: On Monday, the Vatican introduced a cartoon mascot named Luce. Meme enthusiasts quickly created a token under the same name on the Solana (SOL) blockchain, which has seen remarkable gains.

Related Token Performance (24H):

LUCE: +123%

Market Outlook: As a meme token, LUCE is not an official Vatican asset and has no intrinsic value. Investors are advised to approach the hype with caution.

Next Focus

BTC

Reasons for Focus: Bitcoin’s price is nearing its all-time high, with BTC’s market dominance now over 60% and sentiment indicators approaching extreme greed.

Market Outlook: Market capital is concentrated on BTC as it tests previous highs. Key macroeconomic data, including the U.S. October unemployment rate, could create resistance this week.

The Origin and Development of CET: Past, Present, and Future