There was a pullback in the crypto market today, with Bitcoin falling back to $64,200 and Ethereum falling back to $2,620.

Altcoins as a whole are following the market's correction, but FTT and ETHW are performing strongly, rising against the trend by more than 30%.



At the same time, the A-share market performed very well, with many stocks doubling in a short period of time. Domestic investors and Wall Street are pouring into the A-share market.

The government injects funds into the market through unlimited quantitative easing policies, and these funds are mainly used by listed companies to repurchase stocks.

Simply put, the government prints money, invests the money in the stock market, and encourages high-quality companies to repurchase stocks to make a profit.

This practice restored people's confidence in the market, and money in banks began to flow into the stock market in large quantities.

The stock market may replace the real estate market as a new investment hotspot, thereby driving consumption and economic recovery.

Therefore, those who entered the market early have already made a lot of money, while those who acted slower are still busy opening accounts.

Since there are still many retail investors who have not participated, this market trend may continue for some time.

However, there are many retail investors in the market who have no sense of risk and just follow the trend in investing.

Just like the real estate market in the past, the higher the price goes, the more people will buy, so you must pay attention to the risks.

In the short term, A-shares may attract funds from the cryptocurrency circle, and many people are currently selling USDT to increase the liquidity of A-shares.

In contrast, in the crypto market, overall liquidity is relatively low because institutions are closed on weekends.

You can pay attention to the trend of the U.S. stock market after it opens tonight. As long as there is no sharp correction in the U.S. stock market, Bitcoin may have another wave of increases.

In addition, this week, you can focus on the non-farm payrolls data released on Friday.

This is the first unemployment rate data after the interest rate cut, and the current market expectation is the same as before, which is 4.2%.

As long as the data is not higher than this expectation, market sentiment will not turn pessimistic.

In addition to the unemployment rate data, there will also be manufacturing PMI data next Tuesday, as well as Powell’s speech at 1 a.m., which are all worth paying attention to.

Next, let’s take a look at the important news that deserve attention:

1. CZ posted a message on X platform as "GM" confirming his release from prison

CZ posted a message from "GM" on the X platform, confirming that he had been released from prison.

He later tweeted: "The food tastes so good and it's a luxury to be able to eat more than one serving of fruit a day!" This sentence reveals his cherishment of a free life.



He said he knew everyone might have many questions, but he couldn't give all the answers at the moment.

He needs some time to calm down and think about his next plan. CZ believes that there are always more opportunities in the future than in the past, and thanks everyone for their support, which keeps him strong in the most difficult times.

He plans to continue investing in blockchain, decentralized technology, artificial intelligence, and biotechnology. He stressed that he is a long-term investor who cares more about impact than returns.

At the same time, he will devote more time and money to charity and education, and said he has some preliminary ideas.

In addition, CZ mentioned that he was writing a book and was about two-thirds done. Although writing the book was much more laborious than he expected, he would stick to it.

Finally, he said that Binance has been running just fine in his absence, which is a dream come true for every founder. He asked everyone to stay tuned and said he would see everyone during the conference.

2. Vitalik Buterin said: Ethereum’s main challenge is to combine decentralization and cooperation

Ethereum co-founder Vitalik Buterin talked about the challenges facing the Ethereum ecosystem in his latest blog post.



He noted that an important social challenge for Ethereum is how to find a balance between decentralization and cooperation.

The advantage of Ethereum is that there are many different people and organizations involved, such as client teams, researchers, second-layer teams, application developers, and local community groups.

They are all working towards realizing their respective visions for Ethereum.

The main challenge is to ensure that these projects can work together to build a unified Ethereum ecosystem, rather than turning into 138 incompatible domains.

Vitalik analyzed from the perspectives of open source, open standards, decentralization and security, and positive-sum game.

He hopes to see more entities like L2beat emerge to track how well individual projects meet these and other criteria that the community comes up with.

Projects should compete based on easily understood criteria, not on connections.

Recently, there is news that Vitalik has broken up with his current girlfriend and is currently focusing on the development of the Ethereum ecosystem. His remarks will help restore the market's confidence in Ethereum.

In addition, it is worth noting that recently, Ethereum's gas fee surged 116.89% to 13.36 Gwei in just 10 minutes, indicating an increase in activity on the Ethereum chain.

3. Zhu Guangyao, former vice finance minister of China, said: We should pay attention to the development of cryptocurrency

At the Tsinghua PBC Chief Economist Forum on September 28, 2024, Zhu Guangyao, former Vice Minister of Finance of China, delivered a speech.




He stressed that we need to pay attention to the development of cryptocurrency.

While cryptocurrencies do present some risks, such as potential harm to capital markets, they are critical to the development of the digital economy.

Zhu Guangyao reviewed the development history of cryptocurrency and mentioned that over the past decade, the United States has always believed that cryptocurrency poses a great threat to international anti-money laundering and anti-terrorist financing.


In addition, the price fluctuations of cryptocurrencies also have a huge impact on the international financial market.

However, this year there has been a significant change in US policy.

Trump explicitly mentioned cryptocurrencies in his campaign platform, and he publicly stated: "We must embrace cryptocurrencies, otherwise China will replace us."

The U.S. Securities and Exchange Commission (SEC) has also approved 11 Bitcoin ETFs to be listed on the stock and futures markets.

Meanwhile, emerging market countries and BRICS nations, such as Russia, South Africa, Brazil and India, have also taken action in the cryptocurrency space.


This shows that attention and investment in cryptocurrencies are increasing globally.

From the speech of former Vice Finance Minister Zhu Guangyao, it can be seen that the country may adopt a more open attitude towards cryptocurrencies. Is it possible that it will be gradually relaxed?

In general, liquidity in the crypto market is low as institutions are closed on weekends.


You can pay attention to the performance of the U.S. stock market after it opens in the evening. As long as there is no major correction in the U.S. stock market, Bitcoin will have another wave of rising prices.


The key data to watch this week are: manufacturing PMI data on Tuesday, service industry PMI data on Thursday, and non-farm payrolls data on Friday.

These will affect market sentiment and price trends in the short term.