随着市场情绪改善，粉丝代币人气飙升

OG Fan Token（$OG）是与欧洲电子竞技组织 OG 相关的加密货币，在过去一周经历了大幅价格波动。

OG Fan Token ($OG), a cryptocurrency linked to European esports organisation OG, displayed remarkable price movements last week. The token's value surged rapidly from $2.6 to a peak of $14.3 within just four days, before plummeting by over 50% to $6.6 in a single day. Despite this volatility, the token still managed to secure an impressive seven-day return of 178%. During this period, trading volume on Convert surged by over 350 times, as traders utilised the platform to execute large trades while mitigating market risks.

OG Fan Token（$OG）是一种与欧洲电子竞技组织 OG 相关的加密货币，上周显示出显着的价格走势。该代币的价值在短短四天内从 2.6 美元迅速飙升至 14.3 美元的峰值，然后在一天内暴跌超过 50% 至 6.6 美元。尽管存在这种波动，该代币仍然成功实现了 178% 的令人印象深刻的 7 天回报率。在此期间，Convert 的交易量激增了 350 多倍，因为交易者利用该平台执行大额交易，同时降低了市场风险。

Similarly, Santos FC Fan Token ($SANTOS) experienced a notable surge in trading activity on Convert, with trading volume increasing twelvefold compared to the previous week. The rise in demand for Fan tokens on the Chiliz blockchain was largely influenced by the activity surrounding the OG Fan Token.

同样，桑托斯足球俱乐部球迷代币 ($SANTOS) 在 Convert 上的交易活动显着激增，交易量比前一周增加了 12 倍。 Chiliz 区块链上粉丝代币需求的增长很大程度上受到 OG 粉丝代币相关活动的影响。

decentralised lending platform Wing Finance ($WING) also saw a significant uptick in interest. The platform's partnerships have allowed it to explore various lending markets, including under-collateralized and synthetic token lending. Last week, WING's trading volume skyrocketed by 33 times on Convert, resulting in a weekly gain of 20.3%.

去中心化借贷平台 Wing Finance ($WING) 的兴趣也显着上升。该平台的合作伙伴关系使其能够探索各种借贷市场，包括抵押不足和合成代币借贷。上周，WING在Convert上的交易量暴涨33倍，周涨幅达20.3%。

Prosper ($PROS) experienced a remarkable surge in value following an announcement from Animoca Brands, a blockchain and game software company, regarding its intention to acquire additional native tokens of the platform. This news captured the market's attention, leading to a price increase of over 55% within a week, accompanied by an 89.9% rise in trading volume on Convert.

区块链和游戏软件公司 Animoca Brands 宣布有意收购该平台的额外原生代币后，Prosper ($PROS) 的价值大幅飙升。这一消息引起了市场的关注，一周内价格上涨超过 55%，Convert 交易量上涨 89.9%。

Overall Market

整体市场

The above chart showcases BTC's price movement in the 8-hour time frame.

上图展示了 BTC 在 8 小时时间范围内的价格走势。

Last week, the overall risk sentiment in the financial markets showed signs of improvement, primarily driven by positive developments in both the China A-share market and the Hong Kong stock market. This uptick in sentiment was particularly evident during the closure of the China A-share market for the National Holiday, a period during which our team observed a significant influx of capital into the cryptocurrency sector. This surge in investment led to a remarkable increase in Bitcoin's price, which rose from $60,000 to over $64,000 over the weekend, reflecting heightened investor interest and optimism in the crypto space.

上周，金融市场整体风险情绪出现改善迹象，主要受到中国A股市场和香港股市积极发展的推动。这种情绪的上升在中国 A 股市场因国庆假期休市期间尤为明显，在此期间我们的团队观察到大量资金涌入加密货币领域。投资激增导致比特币价格显着上涨，周末从 60,000 美元上涨至 64,000 美元以上，反映出投资者对加密货币领域的兴趣和乐观情绪增强。

However, this bullish momentum was short-lived. On the first trading day following the reopening of the China A-share market, a significant drop in stock prices cast a shadow of bearish sentiment over the cryptocurrency market. The decline in the A-share market raised concerns among investors, leading to a cautious approach towards riskier assets like cryptocurrencies. Compounding this bearish sentiment was the release of robust labour market data from the United States, which indicated a strong economy and reduced expectations for aggressive interest rate cuts by the Federal Reserve. This development contributed to a strengthening of the US dollar, further pressuring Bitcoin and other cryptocurrencies.

然而，这种看涨势头是短暂的。中国A股市场重新开市后的第一个交易日，股价大幅下跌，给加密货币市场的悲观情绪蒙上了阴影。 A股市场的下跌引起了投资者的担忧，导致对加密货币等风险较高的资产持谨慎态度。美国公布的强劲劳动力市场数据加剧了这种看跌情绪，该数据表明经济强劲，并降低了美联储大幅降息的预期。这一发展导致美元走强，进一步给比特币和其他加密货币带来压力。

As a result, we witnessed notable sell-offs in Bitcoin during the US trading sessions in the past three out of four days as investors reacted to the changing economic landscape. Our analysis revealed a consistent pattern: Bitcoin's price typically declined by over 2% during US trading hours, while it tended to stabilise during the Asian and European sessions. This trend suggests that market dynamics and investor behaviour during different trading hours play a crucial role in Bitcoin's price movements.

因此，随着投资者对不断变化的经济形势做出反应，我们在过去四天的三天美国交易时段中目睹了比特币的显着抛售。我们的分析揭示了一个一致的模式：比特币的价格在美国交易时段通常下跌超过 2%，而在亚洲和欧洲交易时段则趋于稳定。这一趋势表明，不同交易时段的市场动态和投资者行为对比特币的价格走势起着至关重要的作用。

Interestingly, despite the S&P 500 index reaching a new all-time high, Bitcoin faced considerable selling pressure. One potential explanation for this phenomenon is that investors in Bitcoin spot ETFs may be reallocating their capital towards the US stock market, seeking to capitalise on the bullish momentum in equities. This theory is further supported by the ongoing capital outflows observed in 11 Bitcoin spot ETFs, indicating a shift in investor sentiment and strategy. As investors navigate the evolving market landscape, the interplay between traditional equities and cryptocurrencies will continue to shape the dynamics of both asset classes.

有趣的是，尽管标准普尔 500 指数创下历史新高，但比特币仍面临相当大的抛售压力。对这一现象的一个可能解释是，比特币现货 ETF 的投资者可能会将其资金重新配置到美国股市，寻求利用股市的看涨势头。 11 只比特币现货 ETF 中观察到的持续资本外流进一步支持了这一理论，表明投资者情绪和策略发生了转变。随着投资者应对不断变化的市场格局，传统股票和加密货币之间的相互作用将继续影响这两种资产类别的动态。

On Thursday, the US Consumer Price Index (CPI) data indicated a rebound in the declining inflation rate for September, effectively diminishing the prospects of a 50 basis point interest rate cut by the Federal Reserve in November. Following this news, Bitcoin experienced a swift sell-off during the US trading session but managed to recover most of its losses before the Asian markets opened.

周四，美国消费者价格指数（CPI）数据显示，9月份通胀率下降，出现反弹，有效削弱了美联储11月份降息50个基点的前景。此消息发布后，比特币在美国交易时段经历了迅速抛售，但在亚洲市场开盘前成功收复了大部分损失。

Our analysis maintains the view that the $58,000 to $59,000 range will serve as a support level, from which we anticipate a rebound in Bitcoin's price. Should this support level be breached, we expect Bitcoin to revisit the $50,000 to $52,000 range. If that scenario plays out, we do not foresee the price reaching the $100,000 mark until the first quarter of 2025.

我们的分析坚持认为 58,000 美元至 59,000 美元区间将作为支撑位，我们预计比特币价格将在此反弹。如果这一支撑位被突破，我们预计比特币将重新回到 50,000 美元至 52,000 美元的区间。如果这种情况发生，我们预计价格要到 2025 年第一季度才会达到 10 万美元大关。

Options Market

期权市场

The above chart depicts the implied volatility of at-the-money BTC options.

上图描绘了平值 BTC 期权的隐含波动率。