Overview:

Bitcoin ($BTC) surpassed $68,000 yesterday, indicating a strong upward trend and a notable boost in investor confidence. However, gains in altcoins were relatively limited, with most tokens unable to match Bitcoin's pace.

Daily Macro:

Bitcoin Market Performance:

Bitcoin displayed strong momentum after breaking through the $68,000 mark, signaling a resurgence in investor confidence. The previous resistance level at $66,000 has been decisively overcome, and the market is now setting up for further upward movement.

ETF Activity:

Bitcoin ETFs saw a net inflow of $458.7 million yesterday.

Ethereum ETFs saw a net inflow of $12 million yesterday.

Macroeconomic Data:

According to a16z crypto, there are approximately 617 million cryptocurrency holders worldwide, with active addresses and usage hitting all-time highs.

Tether reported 36.25 million new users in Q3 2024, marking the highest growth rate in its history.

Daily Focus:

TON Blockchain

Reason for Focus:

TON blockchain announced a partnership with Axelar to enhance interoperability, aiming to create more cross-chain interaction opportunities for the TON ecosystem.

Related Token Performance:

$TON: Up 1.2% over the last 24 hours.

Outlook:

This collaboration is expected to boost TON's use cases and market position, particularly as interoperability becomes a growing trend. Investors should keep an eye on upcoming ecosystem expansion initiatives.

Bitcoin

Reason for Focus:

Bitcoin's on-chain gas fees increased due to heightened activity driven by the OMB project. The price is encountering resistance around $68,000, suggesting the possibility of a short-term consolidation.

Related Token Performance:

$BTC: Up 3% in the past 24 hours.

Outlook:

If Bitcoin can maintain its position above $68,000, the next target would be $70,000. The $66,000 level now serves as a new support area that may attract further buying interest.

Next Focus:

Altcoin Market and Meme Token

Reason for Focus:

Despite Bitcoin's continued rise, the altcoin market has shown limited activity, with capital focusing mainly on on-chain meme projects. Investors are monitoring potential opportunities in altcoins listed on CEX.

Related Assets:

$ENA, $WLD, $BCH, and others have recently shown strong rebound signs.

How to Participate:

Investors should watch meme projects and on-chain trends, while also being alert to potential opportunities in CEX-listed altcoins. Diversifying portfolios may help mitigate risks.

CoinEx Daily: Bitcoin Surges Past $68,000, Market Sentiment Turns Upbeat