Viewpoint: Bitcoin Reclaims Support Level, Market Momentum Poised to Build Up Again

On October 20th, as per official channels, the Web3 education protocol Open Campus announced the completion of a $5 million strategic financing round. This financing round was spearheaded by Animoca Brands, YZi Labs, Sequoia, Shima Capital, Polygon, Caladan, Kingsway Capital, and GameFi Ventures. The Open Campus Foundation will utilize this funding for the following purposes: · Carry out open market purchases of the EDU token to enhance key price support levels; · Provide support for on-chain student loan business through the Pencil Finance protocol; · Expedite the deployment process of the Open Campus Identity System, OC Wallet, and the EDU mainnet.

On October 20th, as monitored by Onchain Lens, a certain Bitcoin ancient whale address has increased its short position in BTC by a factor of 10 and by 200 BTC (approximately $22.1 million). Currently, this address holds a short position of 900 BTC, with a value of $99.6 million, and has a floating loss of $1.1 million. The specific statistics are as follows: · Position Size: 900 BTC · Position Value: $99.6 million · Entry Price: $109,521 · Liquidation Price: $141,072

October 20th: In spite of the continuous U.S. government shutdown, the postponed September inflation data will be made public this Friday. Analysts at Goldman Sachs released a report over the weekend and stated that the bank anticipates that both the overall CPI and the core CPI will increase by 0.3% month-on-month in September, maintaining the core inflation annual rate at approximately 3.1%. Goldman Sachs pointed out that the influence of car prices on inflation is diminishing, and airfare prices may also experience a decline. Meanwhile, the contributions of the labor market and the housing market to inflation may also be moderating. However, Goldman Sachs noted that tariffs could exert upward pressure on "specific exposed industries such as communication, home decoration, and entertainment." The bank forecasts that the full-year core inflation rate as of December will remain at 3.1%. (FXStreet)

On October 20th, according to GMGN market data, it is possibly due to the Binance futures launching of "Binance Life" that Chinese Meme coins on BSC witnessed a general increase. These include: - "Binance Life" with a 24-hour price increase of 105% and currently valued at $336 million; - "Cultivation" with a 24-hour price increase of 47.42% and currently valued at $16.38 million; - "Customer Service Xiao He" with a 24-hour price increase of 33.17% and currently valued at $16.54 million; - "Hakimi" with a 24-hour price increase of 61.38% and currently valued at $64.03 million.

On October 20th, according to the latest weekly report issued by Coinshares, there was a capital outflow of $513 million from digital asset investment products last week. Since the events on October 11th, the total net outflow has reached $668 million. This indicates that ETP investors have responded relatively calmly to this, while on-chain investors are more pessimistic. The data shows that the capital outflows were almost entirely concentrated in the US market (reaching $621 million). In contrast, investors in Germany, Switzerland, and Canada regarded the price pullback as a buying opportunity, with inflows of $54.2 million, $48 million, and $42.4 million respectively. Bitcoin was the only major asset to experience significant outflows, with a net outflow of $946 million last week. Its year-to-date cumulative inflow is $29.3 billion, still lagging behind the $41.7 billion during the same period in 2024. Investors saw Ethereum's price weakness as a good opportunity to take positio

On October 20th, as per official channels, Evernorth Holdings Inc. (referred to as "Evernorth") announced today that it has officially started its operations and reached a business merger agreement with the publicly listed special purpose acquisition company Armada Acquisition Corp II (Nasdaq: AACI). The company is dedicated to facilitating the institutional-level scalability of XRP. Upon the completion of the transaction, the merged entity will continue to use the Evernorth name and is scheduled to be listed on the Nasdaq Stock Exchange, subject to meeting the listing requirements, under the stock symbol "XRPN." This transaction is anticipated to raise a total of over $1 billion in funding. This includes a $200 million investment from SBI, as well as a joint investment from prominent digital asset and fintech institutions and investors such as Ripple, Rippleworks, Pantera Capital, Kraken, GSR, and others. Ripple's co-founder, Chris Larsen, also participated in the investment. The net