Overview

Today, Bitcoin is approaching the $70,000 mark. Blackrock reports that 80% of ETF investors are direct investors, indicating accelerated institutional capital inflow. However, market expectations for Fed rate cuts by year-end may be overstated. The focus is on ApeChain, with ApeCoin experiencing a significant increase in on-chain activity. A noteworthy development to watch is dYdX, with rumors suggesting the launch of a Meme Pump application. Given the high interest in Meme tokens, which have become the most enduring speculative topic in this cycle, this new development could impact DYDX and related platform tokens.

Daily Macro

Bitcoin Market Situation

Bitcoin is about to break through the critical $70,000 threshold, drawing high market attention. As the workweek begins, investors will closely monitor whether the price trend can stabilize or further rise. Moreover, 80% of Bitcoin ETF investors being direct investors indicates accelerating institutional capital inflow into the market.

ETFs

On October 18, Bitcoin ETFs saw a net inflow of $274 million, while Ethereum ETFs experienced a net inflow of $18 million.

Macroeconomic Outlook

There are signs that market expectations for potential Fed rate cuts in November and December may be exaggerated. Although investors are highly focused on the Fed's future interest rate decisions, analysts point out that the likelihood of rate cuts may not be as high as expected.

Daily Focus

ApeChain

Reason for Attention: Significant growth in ApeCoin on-chain activity, with @apecoin launching yesterday, showing notable wealth effects. High market enthusiasm has attracted a large number of investors to $APE and related tokens.

Related Token Performance (24h):

APE: +49%

Market Analysis: Although ApeCoin and Yuga Labs-related assets are currently performing strongly, sustainability remains to be seen. If market enthusiasm persists and on-chain applications further drive ecosystem development, we may see continued price increases. However, investors should also be wary of short-term volatility and pullback risks.

Next Focus

dYdX and its Meme Pump Application

Reason for Attention: Market rumors suggest dYdX will launch a Meme Pump application, continuing the current market enthusiasm for Meme narratives. Meme tokens have become the most enduring speculative topic in this cycle, with Meme trends surging one after another, especially driven by new platforms like Apechain. Continuous market innovation and capital pursuit may bring new opportunities for applications like dYdX.

Potential Reasons: The sustained interest in Meme tokens and continuous capital inflow have led trading platforms to pay more attention to this track. dYdX's launch of such an application may be to capture this trend, attract more users, and enhance platform liquidity.

Related Assets: If dYdX successfully launches the Meme Pump application, the platform token $DYDX could potentially benefit.

How to Participate: Investors can pay attention to dYdX's official announcements and participate in new application tests or activities in a timely manner. At the same time, be alert to the high volatility of the Meme market, rationally assess risks, and avoid excessive FOMO.

CoinEx Daily：Bitcoin Approaching $70,000 Mark and Continued High Interest in Meme Coins