Deep Tide TechFlow News, November 10th, QCP released a briefing stating that the U.S. Senate has voted to advance a funding agreement, a key step toward ending the 40-day government shutdown. The amendment will be sent to the House of Representatives and ultimately signed by Trump, a process that may take several days. Following this positive news, stock index futures rebounded, and risk asset sentiment improved.
Bitcoin recovered along with the market to $106,000, after falling below the $100,000 mark several times in the past week. Despite ongoing selling by early investors (OG) and outflows from spot ETF funds, Bitcoin has shown resilience.
Market analysts pointed out that the current scale and randomness of OG wallet sell-offs are similar to historical Silk Road and Mt. Gox events, but deeper liquidity and a more diversified market participation help absorb these supply shocks.
Options market activity indicates that investors are divided on Bitcoin’s trend before the end of the year. It is expected that Bitcoin will remain range-bound in the short term, with a breakout above $118,000 potentially facing a new wave of selling pressure.
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