Bitcoin stands firm at $84,500, Federal Reserve suspends interest rate hikes to boost crypto market,

比特币稳守84,500美元，美联储暂停加息提振加密市场情绪

本周，比特币在84,500美元附近平稳交易，以太坊及其他主流加密货币走势与之相似。在经历九月的挑战期后，随着市场普遍预期美联储将维持利率不变，强劲的市场动能逐渐形成。这种乐观情绪为数字资产提供了更广泛的支持，并标志着金融市场风险偏好的复苏。

美联储释放政策稳定信号，加密市场信心回升

随着本周的推进，比特币曾短暂触及更高价位，随后有所回落。美联储政策制定者的言论降低了市场对立即加息的预期，从而鼓励资金流向包括加密货币在内的高风险投资领域。与数字资产板块相关的证券也随之上涨。MicroStrategy、Coinbase和Robinhood等公司的股票跟随比特币的上行轨迹，反映出投资者对加密货币的信心增强。

ETF资金回流，华尔街调整预测目标

美国现货比特币交易所交易基金（ETF）迎来新一轮资金流入，在最新一个完整交易周内录得约24亿美元的净存款。这笔新增投资扭转了此前的净流出态势，使比特币2026年的ETF总资本流动再次转为正值。

As a well-known U.S. business intelligence company with a large number of Bitcoin positions, MicroStrategy acquired an additional 1,665 bitcoins. The company's total bitcoin reserves increased to 847,666, further consolidating its position as the world's largest enterprise-level bitcoin holder.

As of the weekend, Bitcoin's market share (i.e. its share of the overall crypto market value) was close to 60%. This upward trend suggests that even in the context of strong overall demand for risky assets, investors still tend to retain their allocation of original cryptocurrencies.

Major U.S. financial group Citigroup raised its 12-month bitcoin price forecast to $113,000 from $82,000, emphasizing increased market participation and increased inflows of ETF funds. Citigroup also adjusted its target price for Ethereum, raising its forecast from $2,240 to $3,028.

Analysts at Citigroup said that the reason for the increase in the bitcoin target price is due to increased investor participation and the influx of large amounts of capital into the U.S. spot bitcoin ETF, and this momentum is expected to continue in the medium term.

Employment Data, Inflation Expectations and Federal Reserve Policy Outlook

Macroeconomic data dominated the trend of digital currencies throughout the week. U.S. employers added only 29,000 jobs in September, and the unemployment rate rose to 4.2%, a sign of a cooling in the labor market. Slowing job growth has reduced the possibility of a sharp interest rate hike by the Federal Reserve. Historically, weakening expectations of interest rate hikes have increased the appeal of speculative assets such as cryptocurrencies. However, analysts warned that if inflation data exceeds expectations, it could prompt the Fed to rethink its policy direction, putting new pressure on digital assets.

Ethereum lags behind, MetaMask security incident attracts attention

Ethereum's performance this week is not as good as Bitcoin, and its price increase lags behind. A security incident affecting the MetaMask Ethereum verifier service has attracted additional attention, with reports of unauthorized parties redirecting pledged rewards. In response, MetaMask launched a withdrawal process for the affected validators. The total pledge compensation for the loss was slightly higher than 0.36 ETH, which the company emphasized accounted for only a small portion of the funds under management.

Micro Dictionary: MetaMask is a widely used Ethereum wallet and decentralized application (dApp) browser that allows users to directly manage, pledge and interact with encrypted assets and decentralized applications through browser plug-ins or mobile apps.

US and European regulators strengthen supervision

In terms of regulatory developments, the U.S. Securities and Exchange Commission (SEC) has proposed new rules governing how registered investment advisers can store and custody cryptocurrencies for clients. The proposed framework allows consultants to directly hold some digital assets in the absence of qualified third-party custodians if they meet strict security and technical standards.

European regulators have strengthened their supervision of Binance, the global cryptocurrency exchange, focusing on reviewing its compliance with the EU Cryptocurrency Markets Regulation (MiCA). Authorities are investigating whether Binance continued to provide services to European users without obtaining the necessary authorization. Binance said such cases relied on the region's "reverse solicitation" exception, and regulators were reviewing whether the exemption was correctly applied.

The SEC's latest proposal aims to ensure that investment advisers follow strong custody standards when managing digital assets, potentially giving them more direct custody options if strict security protocols are met.

Micro Dictionary: MiCA(Cryptographic Asset Markets Regulation) is the EU framework for regulating digital asset service providers, aiming to introduce unified EU rules for transparency, licensing systems and consumer protection.

Tether explores Bitcoin integration, Blast Layer-2 network shuts down

The stablecoin sector also made headlines. Tether, the issuer of the leading dollar-linked stablecoin USDT, announced plans to integrate USDT functionality into the Bitcoin network through the Utexo project. The project will enable confidential USDT transfers, facilitate BTC-USDT conversions, and introduce bitcoin-backed lending options.

Meanwhile, Blast, an Ethereum-based layer 2 extension protocol, announced that it will cease operations after its network assets fell from a peak of more than $2 billion. The shutdown marks continued competitive pressure between second-tier platforms, and user activity is gradually concentrated towards more mature solutions.

As Bitcoin attempts to hold on to the US$84,500 mark, highly leveraged operations and ongoing regulatory changes are expected to keep prices highly volatile over the next week.