Although the price of $BTC is not friendly today and has even fallen below recent lows, Nvidia's third-quarter financial report is indeed good, which has boosted tech stocks and slightly pumped Crypto Assets. At least for now, the AI bubble has not burst, and it is unclear whether this will encourage users who recently exited tech stocks to come back, but indeed, the data in the weekly report also shows that institutions are starting to Build a Position.

Additionally, there is the Federal Reserve's September meeting minutes today, and the content in the minutes is much better than the market anticipated. Although Powell stated that he is not prepared to continue cutting interest rates in December, there is not a consensus within the Federal Reserve. Nearly half of the officials still supported a rate cut in December during September, although not all of these individuals are voting members. The focus remains on the choices of the voting members.

The main trigger for this fall is also due to the Federal Reserve not preparing to cut interest rates in December, combined with the U.S. government shutdown and concerns about the AI bubble. Monetary policy remains the biggest worry for the market, and employment data is the most important data for the Federal Reserve. It can be said that whether or not there will be a rate cut in December mainly depends on the employment data.

Looking back at Bitcoin's data, the turnover rate has slightly decreased, but it is still at a high level, indicating that the panic among holders has not completely dissipated. However, as the price of $BTC declines, the number of investors willing to sell will decrease. It is clearly noticeable that the sell-off of positions priced above 100,000 has begun to reduce, which indicates that the panic investors at high levels have mostly exited, similar to the situation with BlackRock's spot ETF investors reducing their holdings.

I estimate that with the decrease in price, many friends are starting to question the on-chain data support levels again. It's okay, this has happened too many times in the past few years. Currently, there are no signs of collapse at either support level, and at least the investors in loss are still maintaining an optimistic mindset for now.