BTC reached as high as $70,332 around 6 AM this morning (29th), the highest in three months. It has since pulled back slightly and is currently trading at $69,890, up 3.15% in the past 24 hours, also breaking the downtrend line since March, making investors excited again and hoping BTC can challenge the all-time high of $73,679 set in March.
However, the author would like to remind that according to Coinglass data, the total open interest in BTC futures contracts has reached a new all-time high of 586,000 BTC (about $40.9 billion). When the open interest is high, it is often a sign of a potential top, so investors should be cautious about the possibility of increased volatility.
Over $170 million in crypto liquidations across the network in the past 24 hours
According to Coinglass data, in the past 24 hours, the total amount of crypto liquidations across the network was around $172 million, with over 67,000 traders being liquidated. However, the liquidation volume over the weekend was not too high, so the volatility is expected to increase further.
For Ethereum, it has also risen along with BTC, approaching $2,600. However, in the long run, it has only reached the highest level in the past week, which is much weaker compared to BTC.
Top 10 tokens across the board
According to CoinMarketCap data, other top 10 tokens have also mostly risen in the past 24 hours, with Doge being the strongest, up 17.12%. The other tokens, except for TRX, have also increased by 1-2%.
Market Highlights This Week
10/29 (Tue)
- US: October Consumer Confidence, previous 98.7
- US: September JOLTS Job Openings, previous 8.040M
10/30 (Wed)
- Germany: Q3 GDP (QoQ), previous -0.1%
- Switzerland: Central Bank Press Conference
- UK: Autumn Budget
- US: October Nonfarm Payrolls, previous 143K
- US: Q3 GDP (QoQ), previous 3.0%
- Germany: October CPI (MoM), previous 0.0%
- US: Crude Oil Inventories, previous 5.474M
10/31 (Thu)
- China: October Manufacturing PMI, previous 49.8
- Japan: Interest Rate Decision, previous 0.25%
- Hong Kong: Q3 GDP (QoQ), previous 0.4%
- Hong Kong: Q3 GDP (YoY), previous 3.3%
- Eurozone: October CPI (YoY), previous 1.7%
- US: September Core PCE (YoY), previous 2.7%
- US: September Core PCE (MoM), previous 0.1%
- US: Initial Jobless Claims
11/1 (Fri)
- US: October Average Hourly Earnings (MoM), previous 0.4%
- US: October Nonfarm Payrolls, previous 254K
- US: October Unemployment Rate, previous 4.1%
- US: October ISM Manufacturing PMI, previous 47.2
- US: October Manufacturing PMI, previous 47.8
