According to the U.S. government website, initial jobless claims for the week ending October 18 were 232,000; continuing jobless claims were 1,957,000, an increase from the previous week's 1,947,000. Meanwhile, initial jobless claims for the week ending September 20 were revised upward from 218,000 to 219,000, and the four-week moving average was revised upward from 237,500 to 237,750. Continuing jobless claims for the week ending September 13 were revised downward from 1,926,000 to 1,916,000. The U.S. government website has not yet released initial jobless claims data for the weeks ending September 27, October 4, October 11, October 25, November 1, and November 8. If the government had not shut down, these six sets of data should have been released. (Jinshi)

Maximiliaan Michielsen, an analyst at 21Shares, a cryptocurrency ETP issuer, analyzed that while Bitcoin's price falling below $100,000 has triggered market concerns about a bear market, he believes this decline is a short-term correction, not the start of a deep or long-term bear market. Although volatility and consolidation may continue until the end of the year, the fundamental factors driving this cycle remain solid, supporting its long-term positive outlook. The recent weakness in Bitcoin is mainly due to three factors: forced liquidations, selling by investors holding large amounts of Bitcoin, ETF outflows, and liquidity tightening caused by macroeconomic events. Since October, the market has experienced a total deleveraging process of $32 billion, including $3 billion in liquidations in the past week. Large investors are also taking profits, selling approximately $12 billion worth of Bitcoin since October. Meanwhile, the spot Bitcoin ETF saw an outflow of $866 million last Thursday, the second-highest single-day outflow in history. Furthermore, the US government shutdown led to the Treasury withdrawing approximately $150 billion in cash from the financial system, exacerbating liquidity constraints. Despite this, positive signals remain in the market. Selling pressure from long-term investors has significantly eased, and assets are shifting to new, more stable holders. Meanwhile, liquidity conditions are expected to improve, with the US quantitative tightening projected to end in December and government spending resuming. Additionally, the continued expansion of the global money supply typically supports Bitcoin. Against this macroeconomic backdrop, increased investor demand to hedge against fiat currency devaluation enhances Bitcoin's appeal as a store of value. While Bitcoin is currently technically in a short-term bear market, analysts believe this decline is more of a valuation reset than a deep bear market with a drop exceeding 80%. Crucially, no classic bear market catalysts have emerged: no securities defaults, systemic fraud, regulatory shocks, or macroeconomic tightening cycles. Historical data shows that corrections of this magnitude typically end within 1 to 3 months and often mark a consolidation phase before the next upward move. In the long term, Bitcoin's fundamentals remain solid, and the outlook remains constructive.

Bitcoin forms a death cross, dropping below $90K. Analysts warn of a potential bear market with targets at $75K, $56K, and $52K. source: https://cryptopotato.com/death-cross-strikes-bitcoin-whats-next-for-btc-price/

Wintermute released a report stating that the market primarily digested the sharp adjustment in expectations for a December rate cut over the past week—the probability of a rate cut plummeted from 70% to 42% within a week, with the lack of macroeconomic data amplifying the volatility. Powell's ambiguous statements regarding a December rate cut forced the market to re-examine the disagreements among FOMC members, revealing that a consensus on rate cuts is far from being reached. Risk assets weakened accordingly, with the crypto market, a sentiment bellwether, bearing the brunt. Among cross-asset performance, digital assets continued to lag behind. This weakness is not a new phenomenon: crypto assets have consistently underperformed the stock market since early summer, partly due to their negative deviation relative to the stock market. What is unusual is that BTC and ETH have underperformed altcoins as a whole during this round of decline, which can be attributed to: altcoins having been in a prolonged decline; and niche sectors such as privacy coins and fee switches still showing some resilience. Some pressure stems from whale position adjustments. Although there is a seasonal pattern to selling off from the fourth quarter to January of the following year, this year it has clearly been brought forward, as many traders expect the four-year cycle theory to suggest that next year will be a period of stagnation. This consensus becomes self-fulfilling: proactive risk control exacerbates volatility. It's important to clarify that this round of selling pressure is not supported by fundamental deterioration; it's purely a macro-driven adjustment led by the US. Currently, the macroeconomic backdrop remains positive: global easing continues, the US QT is about to conclude, fiscal stimulus is active, and liquidity is expected to improve in Q1. The key signal missing from the market is the stabilization of leading assets—unless BTC returns to the upper limit of its trading range, market breadth will be difficult to expand, and the narrative will remain short-lived. The current macroeconomic environment does not conform to the characteristics of a prolonged bear market. With policy and interest rate expectations becoming the main catalysts, once leading assets regain momentum, the market will have a broad foundation for recovery.

Ethereum price was down more than 7% as bears broke below $3,000 to touch $2,940. As sell-off pressure mounts, bears could eye lows of $2,300. BitMine continues to buy ETH, with analysts indicating dips are for buying source: https://coinjournal.net/news/ethereum-price-outlook-bears-pierce-3000-as-sell-off-pressure-mounts/

VanEck has launched the third Solana exchange-traded fund, while Grayscale’s Dogecoin ETF is set for official trading on Monday. source: https://www.cryptopolitan.com/vanecks-vsol-etf-debuts/

The U. S. administration is examining whether to adopt the international standard for reporting and taxation of digital assets. source: https://atlas21.com/white-house-considers-joining-the-carf-possible-new-tax-rules-for-foreign-crypto-accounts/?utm_source=rss&utm_medium=rss&utm_campaign=white-house-considers-joining-the-carf-possible-new-tax-rules-for-foreign-crypto-accounts

Most major coins are now in “extreme pain,” with traders sitting on heavy losses, a backdrop Santiment frames as prime buy-zone territory. source: https://cryptopotato.com/santiment-crypto-bloodbath-is-creating-major-buy-zones-for-btc-eth/

The CMC20 token from CoinMarketCap and Reserve Protocol tracks the 20 biggest cryptocurrencies — with some notable exceptions. source: https://cryptonews.com/exclusives/cmc20-token-launches-what-is-it-and-how-has-it-performed-so-far/

According to Onchain Lens, Mt.Gox deposited 185.52 BTC, worth $16.8 million, into Kraken.

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Netflix shares surged 5.2% in premarket trading on Friday after the streaming giant exceeded Wall Street’s expectations for new subscriber