The sharp declines in BTC and ETH for two consecutive days look to me like the beginning of a bear market, not a bull market at all
As someone in the cryptocurrency industry, this isn’t what I want to see either, but we still need to analyze things calmly
The sentiment is there, and the setup is there; this cycle hasn’t seen a black swan yet
Compared with the peak, although the last drop to 60k was already substantial, it still falls short compared with previous cycles
I feel a bigger drop is still coming
First, watch for BTC to fall below 70k and ETH below 1,800
#美国10月CPI全面超预期 ‌

📊 Gate’s October Transparency Report Is Out, Marking Further Progress Toward an All-in-One Financial Ecosystem
From crypto trading to global stocks, wealth management, and everyday payments, Gate is accelerating the expansion of its diverse financial services.
Several figures in the latest report are worth noting:
💰 Total reserves reached $8.688 billion, with an overall reserve ratio of 118.49%
📈 Cumulative gStocks trading volume surpassed $8.4 billion, covering over 12,800 global stocks and ETFs
🎯 Cumulative prediction market trading volume exceeded $900 million
🌍 Gate Money officially launched, further connecting bank accounts, digital assets, investing, and payment scenarios
From trading growth to financial service innovation, Gate is building a more complete all-in-one financial ecosystem.
💬 If you could choose just one area, what are you most looking forward to Gate making a breakthrough in next?
Global stock trading, wealth management and asset management, or the everyday payment experience brought by Gate Money?
Bring #Gate10月透明度报告 to Gate Square to share your thoughts, and feel free to talk about any new Gate features you’ve tried recently.
📖 View the full report:
https://www.gate.com/announcements/article/102746