BitMart Market Report: The market has entered a high Fluctuation gaming period.

Odaily News According to BitMart's market report on November 4th, BTC has been fluctuating around 108,000, and has not effectively broken through 118,000, remaining in an uncertain game; as a policy-sensitive asset, the short-term focus is on observation, and if there is a significant pullback, the 70,000 range can be used as a reference for a long-term safety zone. In the past week, BTC spot ETF has seen a net outflow of about 800 million USD, while ETH spot ETF has slightly net inflowed; ETH has been weaker than BTC in the past two weeks, fluctuating around 3900, with options biased towards bearish, and most on-chain holdings are at a loss, but institutions are still increasing their positions. Altcoins overall are weak, with most breaking below the low points of 10/11, waiting for BTC trend confirmation before stabilizing. On the macro level, the global market is highly volatile but there is currently no systemic risk; PMI has contracted for eight consecutive months at 48.7, the supplier index has risen to 54.2 while the price index has declined, which is favourable information. The uncertainty of interest rate cuts in December remains, and only if non-farm payrolls remain below 30,000 for the next two months will the probability significantly increase; government shutdowns may cause the Fed to “pause and observe”. The U.S. stock market is supported by AI capital expenditure and earnings, but the high valuations may trigger a pullback if progress falls short of expectations. Pay attention to the 3.75% threshold of 10Y U.S. treasuries and the progress of the China-U.S. rare earth game. The above is a market observation and does not constitute investment advice.