BitMart Market Report: Market Enters a Period of High Volatility and Gameplay

According to BitMart's market report on November 4th, BTC fluctuated around 108,000, and the situation remains uncertain until it effectively breaks through 118,000. As a policy-sensitive asset, a wait-and-see approach is recommended in the short term. If there is a significant pullback, the area around 70,000 can be considered a long-term safe zone. In the past week, BTC spot ETFs saw a net outflow of approximately $800 million, while ETH spot ETFs saw a slight net inflow. ETH has underperformed BTC in the past two weeks, fluctuating around the 3900 level. Options are bearish, and most on-chain positions are losing money, but institutions are still increasing their holdings. Altcoins are generally weak, with most falling below the 10/11 lows, awaiting confirmation of the BTC trend before stabilizing. On the macro level, global markets are highly volatile but there is no systemic risk at present. The PMI at 48.7 has contracted for eight consecutive months, while the supplier index at 54.2 is rising and the price index is falling, which is a positive sign. A December rate cut remains uncertain; the probability would only significantly increase if non-farm payrolls fall below 30,000 for the next two consecutive months. A government shutdown could lead the Federal Reserve to pause its observation period. US stocks are supported by AI capital expenditure and earnings, but valuations are high; slower-than-expected progress could trigger a correction. Pay attention to the 3.75% threshold for 10-year US Treasury yields and the progress of the US-China rare earth dispute. The above is market observation and does not constitute investment advice.