# The big show is coming next week, is the crypto world going to move?

**Macroeconomic Perspective**: The CPI data explosion is imminent on Friday, but Wall Street is betting that the Federal Reserve will continue to cut rates by 25bp. Interestingly, the Federal Reserve is holding a meeting this week specifically to discuss stablecoins and tokenization. What signal does this send?

**Policy Reversal?** SEC Chairman suddenly states: The U.S. crypto world is 10 years behind and needs to catch up. Hearing this from an American regulatory body is quite a revelation. The Treasury Department is also quietly accumulating Bitcoin as a strategic reserve, with its scale increasing by 64% overnight, now equivalent to 3.5% of the U.S. gold reserves. This move is quite aggressive.

**International Follow Suit**: The Bank of Japan wants banks to directly hold and trade BTC, and the European Central Bank is also eager to establish its own digital asset market. It feels like major global economies are all rushing to seize a place in the crypto world.

**On-Chain Data Speaks**: The rebound of Bitcoin depends on whether the funds are real or not; just an increase in price without new open positions is meaningless. Currently, the market is recovering from the major cleanup, but a sustained reversal requires retail investors to enter the market with real cash.

**Sentiment**: Tom Lee said that 22% of fund managers are underperforming the benchmark, and they need to chase performance by the end of the year. This guy is optimistic about buying on dips. October has always been a ghost month, but it could also be a prelude.