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<p>After the US and China indicated that they are close to completing a comprehensive trade agreement, US stock index futures rose, as US President Trump is visiting the region for a series of diplomatic meetings. The overall market capitalization of the crypto market has risen to $3.88 trillion, with a 24-hour increase of 2.86%. Bitcoin (BTC) surged to 115K this morning, and Ethereum (ETH) has returned above $4,200. According to Glassnode data, 62,000 bitcoins have flowed out from long-term inactive wallets, which may limit BTC's upward momentum.</p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/76b249393bdb46eea4f906c3ae596060.png">
<h2 id="header-0">US-China Trade Talks Make Progress, Stocks Rise Across the Board</h2>
<p>At the ASEAN Summit on October 26, progress in US-China trade talks eased concerns about a full-scale tariff war. The US agreed to postpone imposing 100% tariffs on Chinese goods, while China postponed restrictions on rare earth exports.</p>
<p>The overall market capitalization of the crypto market has risen to $3.88 trillion, with a 24-hour increase of 2.86%. Bitcoin (BTC) surged to 115K this morning, and Ethereum (ETH) has returned above $4,200.</p>
<h2 id="header-1">62,000 Bitcoins Flow Out from Long-Term Inactive Wallets, May Limit BTC's Upward Momentum</h2>
<p>According to Glassnode data, the illiquid bitcoin supply has begun to decline, with approximately 62,000 bitcoins flowing out from long-term inactive wallets since mid-October. When the illiquid supply decreases, the amount of bitcoin available for trading increases, which, without strong new demand, will limit bitcoin's price movement.</p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/f934170a18764c66881836b54adfbfd5.png">
<p>Illiquid supply has been a major driver of this cycle, but the recent pullback has broken this trend. Historically, similar downward trends in supply returning to the market have led to weakened market momentum, and there have been larger outflows in the past, such as 400,000 BTC in January 2024.</p>
<p>However, whale wallets have actually been accumulating. Over the past 30 days, the holdings in whale wallets have increased, and since October 15, they have not engaged in large-scale selling.</p>
<p>The ongoing outflows are coming from wallets holding 0.1-10 BTC (approximately $10,000 to $1 million), which have been continuously selling since November 2024. This indicates that momentum buyers have largely exited, while dip buyers have failed to provide sufficient demand to absorb the supply. This imbalance is putting pressure on prices until spot demand rebounds.</p>
<h2 id="header-2">Focus on Fed Interest Rate Decision and Tech Giants' Earnings This Week</h2>
<p>Traders will be watching a slew of central bank announcements this week, including interest rate decisions from the Federal Reserve, the European Central Bank, and the Bank of Japan. The Fed is expected to cut rates by 25 basis points, while the ECB and BOJ are expected to keep rates unchanged.</p>
<p>Earnings reports from major tech companies should not be missed. Alphabet, Amazon, Apple, Meta, and Microsoft will release their third-quarter results this week, and MicroStrategy will announce its earnings after the US market close on October 30.</p>
<p><em><strong>Disclaimer: None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.</strong></em></p>

[Bitop Review] US-China Trade Talks Make Progress, Bitcoin Surges to 115K, Over 60,000 BTC Flow Out from Long-Term Holder Wallets

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