Texas State Representative Reintroduces Bitcoin Reserve Bill, Expanding to Include Other Cryptocurrencies

According to market data from BIT (bit.com), SanDisk and Micron Technology rallied intraday to turn positive. SanDisk’s gain widened to 2.5%, while Micron Technology rose more than 1% after earlier dropping over 3%.

Prominent trader Killa said Bitcoin once again failed to break the $87,000 level, and his previously established 10x leveraged long position was stopped out at the break-even price. This position was an aggressive trend-following trade, with the original expectation that BTC would break through during its second test of the high point, but after the breakout failed, the price returned to the entry level. Killa added that he will next monitor the $80,000 to $82,000 range to look for opportunities to re-establish this 10x leveraged long position. He currently holds long positions opened at $62,600 and $76,400 respectively, and sees no reason to rush into adding new long positions for now. He emphasized that risk management is critical, and his existing BTC holdings are sufficient. Regarding the future trend, Killa maintains his bullish outlook, expecting prices to continue rising. He noted that the current market is in a short-term consolidation phase, and he primarily trades based on longer timeframes.

According to Lookonchain monitoring, amid the market downturn, the 39,025 ETH long positions (valued at approximately $99.8 million) held by the address of prominent crypto investor "Big Brother Ma Ji" (Huang Licheng) are nearing liquidation, with a liquidation price of $2501.38.

U.S. Democratic Senator Elizabeth Warren has submitted a series of inquiries to Treasury Secretary Scott Bessent regarding the U.S. Treasury Department’s recent "unprecedented and chaotic" interventions in the U.S. Treasury market. Warren asked Bessent to clarify how the Treasury plans to fund Treasury repurchases by reducing its cash balance, and what measures it will take to lower long-term U.S. Treasury yields. She also questioned whether the Treasury has evaluated the impact of rising long-term U.S. Treasury yields on consumer borrowing costs, including auto loan and mortgage rates.

As the market drops, Machi(@machibigbrother)'s 39,025 $ETH ($99.8M) long is close to liquidation, with a liquidation price of $2,501.38.

Oct 7 Update: #Bitcoin ETFs: 1D NetFlow: +1,268 $BTC(+$105.43M)?? 7D NetFlow: +1,714 $BTC(+$142.56M)?? #Ethereum ETFs: 1D NetFlow: -75,628 $ETH(-$193.41M)?? 7D NetFlow: -149,200 $ETH(-$381.56M)??