According to Dune data, the total on-chain holdings of the US spot Bitcoin ETF have surpassed 1 million BTC, currently reaching approximately 1.04 million BTC, accounting for 5.26% of the current BTC supply. The on-chain holding value has reached about $69.1 billion. Additionally, data shows that since the launch of the US spot Bitcoin ETF, the net inflow has been approximately 420,700 BTC, with a net inflow of about 47,900 BTC last week.

Chu Yuechen: Bitcoin and ETH Market Analysis and Trading Reference for 10.24

Last night we discussed the situation of Bitcoin. Yesterday, the daily candle had a downward spike, with the low touching around 65,200 before rebounding. The current price has rebounded above 67,000. We mentioned yesterday that we should not only look at the high and low points of the price but also at the closing situation. Yesterday's daily candle closed around 66,700, still above 66,000. Therefore, we remain optimistic about a potential upward movement.

The short-term resistance above is at the 68,000 level, and the strong resistance is at the 70,000 round number. The support level is at 66,500, which is self-explanatory. Yesterday's daily candle closed with a long lower shadow, indicating that the support below is still strong, so our bullish outlook remains unchanged, and we continue to look for levels above 70,000 in the medium to long term.

For intraday short-term contracts, we continue to go long around 66,800, with a stop loss at 66,200 and a target of 67,800—68,000. If the market breaks above 68,000, we will look towards the high point of 69,500.

As for ETH, we won't discuss it as the levels are not reference-worthy; just refer to Bitcoin for contract trading.

Specific Operation Suggestions (Based on Actual Market Price Orders)

Try to enter a long position near the current price of Bitcoin at 66,200, with a stop loss at 65,700 and a target of 67,800.

Before the market moves, any analysis can be correct and has its reasons, but no single trade will be absolutely accurate, and there are risks involved. Therefore, the premise of gaining is to ensure good risk control. The market changes in real-time, and the strategy points are for reference only and should not be used as entry criteria. Investment carries risks, and profits and losses are self-responsible.

Many individual investors find it difficult to enter the trading door, often simply due to the lack of a guide. The questions you ponder may be easily resolved with a prompt from an experienced person. Daily real-time market analysis, along with experience-sharing groups and practical trading groups, welcome to receive real-time guidance. Irregular live broadcasts explaining real-time market conditions in the evening.

For more real-time market analysis, please follow the public account: Chu Yuechen

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