Gate Research: Fed Rate Cut Expectations Weaken, BTC Continues to Fluctuate, EigenLayer Users Lose $5.7 Million in Theft

Gate Research Weekly Review and Outlook: BTC and ETH prices fluctuated this week. Bitcoin ETFs saw a net inflow of $196 million, while Ethereum ETFs experienced a net outflow of $3.9 million. On October 9, Bitcoin mining difficulty rose by 4.12%, potentially leading to a price rebound. The FTX restructuring plan received approval, with payouts set to begin in late October. Hackers hijacked an EigenLayer investor's email, stealing over 1.6 million EIGEN tokens, though some funds were frozen. Upcoming speeches by Federal Reserve officials on key economic issues may influence future monetary policy.

Market Analysis: BTC's price showed a volatile pattern, initially climbing from $60,500 to $64,461 before retreating to the $60,500 range. The meme coin market showed remarkable strength, with cat-themed, perpetual contract, and privacy sectors surging by approximately 15.7%, 11.5%, and 10.6%, respectively over a seven-day period.

Weekly Spotlights: The U.S. SEC, FBI, and DOJ jointly filed lawsuits against four fraudulent crypto companies, including Gotbit Consulting. The FTX bankruptcy restructuring plan received court approval, with payouts expected to begin in late October.

Data Highlights: U.S. economic data for September was robust, while the options market showed cautious expectations for October volatility. Bitcoin and Ethereum contracts across the network were predominantly long positions, reflecting investors' bullish outlook on these two major cryptocurrencies.

Market Opportunities: This week's noteworthy airdrop project is Sunrise Layer. Sunrise is a modular data availability layer focused on Proof of Liquidity (PoL) and fee abstraction. It supports Rollups and Layer 2 solutions in the Ethereum ecosystem, achieving efficient data transfer through Blob Tx and BlobStream.

What to Watch Next Week: On October 12, European regulators will conduct consultations on crypto asset market regulatory guidelines, with the deadline for comments on the consultation document closing on this day. On October 16, multiple cryptocurrency industry summits such as ETHShanghai 2024, Pragma San Francisco, and Blockchance 2024 will be in full swing.

Deep Dive into This Week's Review 👉🏻 Gate Research: Fed Rate Cut Expectations Weaken, BTC Continues to Fluctuate, EigenLayer Users Lose $5.7 Million in Theft

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Gate Team
October 11th, 2024