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Crypto News | Trump's Mild Comments Boost BTC Back to $115,000, Market Leverage Drops to 2022 Bear Market Levels

3 hours ago

On October 13th, as monitored by the on-chain AI analysis tool Coinbob (available at https://t.me/CoinbobAI_bot), driven by political and liquidity factors, the crypto market witnessed a technical rebound following the epic liquidation on October 11th (with 191 billion USD in liquidations). Bitcoin surged to $115,000 within 24 hours, Ethereum broke through $4,150, and the total market capitalization rose to $4 trillion. However, the market's leverage ratio has dropped to the bear market level of 2022, and the risks of whale movements and institutional liquidations have not been eliminated. **Macro Triggers:** - Trump's mild statements led to a synchronous rebound in US stock futures and the crypto market. - The U.S. bipartisan government budget deadlock persists, and the Bureau of Labor Statistics has confirmed that the September CPI data will be delayed until October 24th. **Market Focus:** - The aftermath of the epic liquidation is not over. According to Glassnode data, the market's leverage ratio has dropped to the bear market level of 2022. - Former BitForex CEO Garrett Jin, who holds 46,000 BTC for the Hyperliquid platform, has sparked concerns about selling pressure through on-chain transactions. - Several hedge funds have warned of potential liquidation risks, with $100,000 being a key support level for Bitcoin. - Stablecoins like USDe still face residual anchoring risks, and caution is needed against collateral liquidation pressure. **Other News:** - Trump's youngest son Barron holds a 10% stake in World Liberty Financial, and this stake is expected to be worth $150 million. - U.S. President Trump indirectly holds around $870 million in Bitcoin, potentially making him one of the world's largest Bitcoin investors. BlockBeats reminds investors that the recent cryptocurrency market has been highly volatile, and investors need to pay attention to risk control.
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U.S. Stock Futures Rise, Nasdaq 100 Futures Up 2%

On October 13th, based on market data, the futures of the three major US stock indexes witnessed an upward trend. The Nasdaq 100 Index futures increased by 2%, the Dow Jones futures rose by 1.05%, and the S&P 500 Index futures advanced by 1.5%.

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Singapore High Court Approves Cryptocurrency Exchange WazirX's Restructuring Plan

On October 13th, the High Court of Singapore gave its approval to the restructuring plan of the Indian cryptocurrency exchange platform WazirX. WazirX had submitted a legal opinion to the Singaporean court on September 26th, aiming to expedite the restructuring plan and is currently awaiting further instructions. BlockBeats had previously reported that on July 18, 2024, the Indian cryptocurrency exchange platform WazirX suffered a hack. Its multi-signature wallet on the Ethereum network was compromised, and a total of 234.9 million US dollars was transferred to a new address. The origin of each transaction was concealed by Tornado Cash.

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BNB's market cap has risen to 109th place in the global asset ranking, reaching approximately $184 billion

On October 13th, according to 8MarketCap data, BNB has seen a 30-place increase in the global asset market cap ranking over the past 7 days. It now stands at the 109th position. The market cap has risen to approximately 184 billion US dollars, with a 24-hour price change of 15.74% and a 7-day price change of 9.32%.

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Hyperliquid Contract Market Trends Towards Conservatism, with Negative Growth Fee Rates for Some Shitcoins

On October 13th, as monitored by HyperInsight (accessible via https://t.me/HyperInsight), within the past 24 hours, the overall cryptocurrency market has witnessed a rebound accompanied by a significant increase in trading volume. The amount of short liquidations on the Hyperliquid platform amounted to 62.5 million US dollars. The total trading volume of the three major mainstream coins, BTC, ETH, and SOL, was 8.666 billion US dollars. It is worth noting that possibly due to the recent market fluctuations, the sentiment in the futures market is relatively cautious. When looking at the 24-hour trading leaderboard, the prices of coins such as SOL, DOGE, BNB, and ASTER have all seen a certain degree of increase. However, the funding rates remain negative. On the other hand, the 24-hour trading volume of ZEC and HYPE has respectively decreased by 23.87% and 18.77%, and their holdings have also exhibited relatively weak performance.

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Solana Synthetic Stablecoin Protocol Solstice TVL Surpasses $200 Million

October 13th: The Solana synthetic stablecoin protocol Solstice became live on the 12th with a TVL exceeding $200 million. Earlier in the month, it launched an interest-bearing synthetic stablecoin named USX and a native staking protocol. It attains delta-neutral returns through arbitrage and staking strategies, and is fully collateralized by USDT and USDC to maintain the peg. Holders can access the YieldVault protocol.

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Analysis: A sharp decline should not be seen as the beginning of a bear market, as whales continue to hold and "buy the dip."

October 13th. On-chain data analyst Murphy pointed out that during the period of decline from October 6th to 11th, the Bitcoin whale group still maintained a consistent pace of accumulation, demonstrating a clear "buy the dip" behavior. Although there was a sharp drop on October 11th, the psychological impact on large holders was much smaller compared to the two macro events in April of this year and August of last year. With the continuous inflow of major capital, the BTC market has become more mature as a whole, and the reaction to sudden events is no longer blind panic or mass liquidation. During the recent rapid decline, the outflow of capital was relatively moderate compared to previous occasions, resulting in even a slight "bullish divergence" in the "price and capital increment gradient" indicator. The long/short trading volume difference of perpetual contracts has returned to the 90-day median, and the sentiment of the most sensitive speculative group is returning to a neutral

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